Magnetic Resonance Imaging Market To Reach $10.3 Billion By 2030

Magnetic Resonance Imaging Market Growth & Trends

The global magnetic resonance imaging market size is expected to reach USD 10.3 billion by 2030, registering a CAGR of 6.5% from 2025 to 2030, according to a new report by Grand View Research, Inc. The growing prevalence of chronic diseases and increasing demand for early diagnostic techniques are the factors expected to drive the market growth. In addition, the growing adoption of less invasive procedures is contributing to the market growth. Moreover, the growing number of clinical trials to understand the effectiveness and efficiency of MRI machines in various clinical applications is expected to boost market growth. End-users, such as research institutes and universities, are actively conducting studies to assess the effectiveness of high-field strength MRI devices, including those with field strengths of 7T, 10T, and 10.5T.

The increasing number of research investigations will contribute to unveiling the potential uses and benefits of high-field MRI machines for a wide range of both preclinical and clinical applications. Technological advancements are further expected to boost the industry growth. The introduction of new software has resulted in quicker scanning and streamlined imaging workflows. Recent progress has facilitated the creation of multi-contrast and cardiac MRI, enhancing imaging capabilities. Software updates provide users with the opportunity to enhance their systems and improve workflow efficiency. As an illustration, in November 2021, Philips unveiled an AI-enabled MR imaging portfolio designed to enhance radiology operations' efficiency and sustainability. This portfolio accelerates MR exams, simplifies workflows, enhances diagnostic quality, and ensures the overall efficiency and sustainability of radiology operations.

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Magnetic Resonance Imaging Market Report Highlights

• The closed systems segment dominated the market with the largest revenue share of 75.6% in 2024, driven by its superior ability to offer enhanced safety, reduced contamination risks, and more controlled environments for imaging procedures.

• MRI machines are categorized based on their field strength, with low-field strength MRI machines having a field strength lower than 1.5T, mid-field MRI machines ranging from 1.5T up to 3T, and high-field MRI machines with a field strength exceeding 3T.

• The brain & neurological segment accounted for the largest revenue share in 2024, owing to the rising prevalence of neurological disorders such as Alzheimer's, Parkinson's, and multiple sclerosis.

• The hospitals segment held the largest market share in 2024, attributed to their critical role in providing comprehensive healthcare services.

• North America magnetic resonance imaging market dominated the market with the largest revenue share of 36.4% in 2024.

Magnetic Resonance Imaging Market Segmentation

Grand View Research has segmented the global magnetic resonance imaging market on the basis of tarchitecture, field strength, application, end use, and region:

Magnetic Resonance Imaging Architecture Outlook (Revenue, USD Million, 2018 - 2030)

• Open Systems

• Closed Systems

Magnetic Resonance Imaging Field Strength Outlook (Revenue, USD Million, 2018 - 2030)

• Low

• Mid

• High

Magnetic Resonance Imaging Application Outlook (Revenue, USD Million, 2018 - 2030)

• Obstructive Sleep Apnea

• Brain & Neurological

• Spine & Musculoskeletal

• Vascular

• Abdominal

• Cardiac

• Breast

• Others

Magnetic Resonance Imaging End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Imaging Centers

• Ambulatory Surgical Centers

• Others

Magnetic Resonance Imaging Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in Magnetic Resonance Imaging Market

• GE HealthCare

• Siemens Healthineers AG

• Koninklijke Philips N.V.

• CANON MEDICAL SYSTEMS CORPORATION

• Hitachi Healthcare (Hitachi High-Tech Corporation)

• Hologic, Inc.

• Bruker

• Esaote SPA

• Fujifilm Holdings Corporation

• Shimadzu Corporation

• Aurora Imaging Technologies, Inc. (AURORA HEALTHCARE US CORP)