GVR Report cover U.S. Magnetic Resonance Imaging Market Size, Share & Trends Report

U.S. Magnetic Resonance Imaging Market Size, Share & Trends Analysis Report By Architecture, By Field Strength, By Application (Brain & Neurological, Vascular), By End-Use, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68040-019-2
  • Number of Report Pages: 107
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Healthcare

Report Overview

The U.S. magnetic resonance imaging market size was valued at USD 1.62 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2030. Magnetic resonance imaging (MRI) scans are highly recommended for the accurate detection of abnormalities in the neurological area, musculoskeletal region, abdomen, cardiac, and breasts.  The MRI scans in the U.S.is expected to grow by 18.3% by 2030 to reach a total scan volume of 33.1 million. The ongoing research to develop minimally invasive MRI systems, the introduction of AI tools to ease radiologist’s workload, and the development of MRI artifact stabilization software, are the current market trends, boosting market growth. Factors such as increased use of integrated systems (PET/MRI), precise and accurate detection of soft tissues, and rise in cancer and cardiac cases, are responsible for the market growth. GE Healthcare suggests that ~2.8 million people are diagnosed with traumatic brain injury (TBI) each year in the U.S. Thus, the need to develop MRI scanners to detect TBI is creating growth opportunities for the new entrants and top players in this market.

U.S. magnetic resonance imaging market size, by field strength, 2020 - 2030 (USD Billion)

Introduction of AI within the MRI systems enables the reduction of MRI scan time, improves imaging efficiency, and reduce rescans. For instance, Siemens Healthineers, joined forces with Heart Vista, to introduce their AI-guided software in the MRI scanners offered by the former. The software is enabled with 510k clearance AI for one-click cardiac localization that can be incorporated within Siemens Healthineers and GE Healthcare MRIs. Thus, the incorporation of AI will allow precise image quality, improved patient satisfaction, and enhanced ability to conduct a large number of MRI scan in a day without any rescans. Thus, AI is the future in MRI scans and is responsible for the high market growth. 

Due to the outbreak of COVID-19 in 2020, the market experienced a dip by ~40.0% as compared to the previous year. Reduction in diagnostic scans, decline in sales of newer MRI systems, economic setback experienced by the hospitals and diagnostic centers, fear of viral spread, lack of skilled technicians, halt in logistics, reduced production capacity due to the national lockdowns, were some major reasons for the market dip.

Studies published by GE Healthcare suggest that the patients affected during the pandemic, show lasting symptoms for the months post negative COVID-19 tests. Nearly 30.0% of the 28.0 million COVID-19 cases recorded in the U.S., experienced long-term symptoms. Thus, the use of MRI system along with other imaging modality allowed providers to monitor patients’ recovery and search for the underlying causes of lasting symptoms. This led to the increased scanning frequency using MRI, boosting the market growth post Q2 2021.

Architecture Insights

The closed systems segment held the largest share of 71.0% in 2022. Precise images are created using closed MRI systems as they employ strong magnetic field and high radiofrequency waves. A closed MRI structure permits accurate analysis and precise slice selection. One of the major drawbacks of these systems is the tremendous noise. Thus, patients in these closed MRI systems may experience claustrophobia and other mental disturbances.

The open MRI systems showed the highest growth rate of 7.6% CAGR. Numerous market players focus on the development of these systems as it overcomes the issues of closed MRI systems. Pediatric patients are mainly diagnosed in these systems as it eliminates the effect of claustrophobia and anxiety. However, certain diagnostic areas can’t be appropriately scanned using these systems, thus, radiologists prefer closed MRI systems.

Field Strength Insights

The mid field strength accounted for the largest share of ~48.0% in the field strength segment. Most MRI scans are conducted in MRI systems magnitude of 1.5T to 3.0T. Optimum absorption rate, accuracy of images with reduced frequency of multiple scans, implant safety, affordable scanning cost, ease of working, and high usage rate of the radiation technician, are the factors for the large market size.

High field strength is expected to witness the highest CAGR of 7.6% during the forecast period. High field strength is gaining large research potential due to their ability to scan even critical areas and produce accurate images. These systems produce 7.0T magnetic strength and numerous market leaders have received FDA clearance for the market launch. For instance, GE Healthcare’s Signa 7.0T MRI system was approved by the FDA in 2020 for use in research and clinical setting to efficiently identify neurological and musculoskeletal diseases.

Application Insights

The brain and neurological segment accounted for the largest share of ~22.5% in 2022. Radiologists often prefer MRI scans over other imaging modalities due to the better scan quality and identification of minute abnormalities. Breast imaging held the second largest share due to the growing prevalence of the disease and need to identify risk factors related to the disease.

Breast cancer is highly prevalent in females than any other cancer. Nearly 264,000 cases of breast cancer in women are diagnosed each year and 42,000 women die due to inappropriate diagnosis. Therefore, MRI techniques help in providing quantitative information about cancer by identifying the biological and physical properties of the tissue. MRI is rapidly becoming the preferred method for spinal and musculoskeletal imaging.

End-use Insights

The hospital segment accounted for the largest share of ~37.2% in the end-use segment. Presence of skilled staff, improved diagnostic capabilities, high reimbursement ratio, and increased admission rate for emergency cases, are the factors responsible for its large market size. Imaging center market is expected to expand with the highest CAGR of 7.9% during the forecast period. Increased series of funding from a venture capitalist, collaboration with large hospitals, inclination towards affordable diagnostic testing, are the factors propelling the system growth during the forecast period.

U.S. magnetic resonance imaging market share, by end-use, 2022 (%)

The ambulatory care centres segment is also expected to experience a significant growth rate during the forecast period. Growing government initiatives to improve and increase the number of ambulatory care centres to increase reach in rural areas are the factors expected to propel the segment growth during the forecast period.

Key Companies & Market Share Insights

Companies like GE Healthcare, Toshiba, Hologic Inc., Phillips, Siemens Healthineers, are the top players of this market. These companies are investing in product research, product launches and conduct clinical trials to determine the clinical efficacy of these systems. For instance, GE received FDA clearance for its 7.0T MRI systems named SIGNA. It is the most powerful MRI system (5 times more powerful than any other scanner system) available for human use. Some of the prominent players in the U.S. magnetic resonance imaging market include:

  • GE Healthcare

  • Siemens AG

  • Toshiba Corporation

  • Aurora Imaging Technologies, Inc.

  • Koninklijke Philips N.V.

  • Esaote SPA

  • Sanrad Medical Systems Pvt ltd

  • Fujifilm

U.S. Magnetic Resonance Imaging Market Report Scope

Report Attribute


Market size value in 2023

USD 1.76 billion

Revenue forecast in 2030

USD 2.6 billion

Growth rate

CAGR of 6.3% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million, CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, trends

Segments covered

Architecture, field strength, application, end-use

Country Scope


Key companies profiled

GE Healthcare; Siemens AG; Toshiba Corporation; Aurora Imaging Technologies, Inc.; Koninklijke Philips N.V.; Esaote SPA; Sanrad Medical Systems Pvt ltd.; Fujifilm

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


U.S. Magnetic Resonance Imaging Market Segmentation

This report forecasts revenue growth at country level and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the U.S. magnetic resonance imaging market report based on the architecture, field strength, application, and end-use:

U.S. Magnetic Resonance Imaging Market Segmentation

  • Architecture Outlook (Revenue, USD Million, 2018 - 2030)

    • Closed System

    • Open System

  • Field Strength Outlook (Revenue, USD Million, 2018 - 2030)

    • Low Field Strength

    • Mid Field Strength

    • High Field Strength

  • Application Outlook (Revenue, USD Million, 2018 - 2030)

    • Obstructive Sleep Apnea (OSA)

    • Brain And Neurological

    • Spine And Musculoskeletal

    • Vascular

    • Abdominal

    • Cardiac

    • Breast

    • Other

  • End-Use Outlook (Revenue, USD Million, 2018 - 2030)

    • Hospitals

    • Imaging Centers

    • Ambulatory Surgical Centers

    • Others

Frequently Asked Questions About This Report

gvr icn


gvr icn

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now

Certified Icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.