MRI System Market Trends and Forecast
The future of the global MRI system market looks promising with opportunities in the hospital, imaging center, and ambulatory surgical center markets. The global MRI system market is expected to reach an estimated $6.9 billion by 2030 with a CAGR of 5.3% from 2024 to 2030. The major drivers for this market are increasing prevalence of chronic diseases requiring diagnostic imaging, growing investments in healthcare infrastructure globally, and rising demand for non-invasive diagnostic procedures.
• Lucintel forecasts that open system is expected to witness higher growth over the forecast period.
• Within this market, ambulatory surgical center is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the MRI System Market
• United States: GE Healthcare launched a new series of MRI systems with enhanced imaging capabilities, aligning with government initiatives to improve healthcare infrastructure and diagnostic capabilities.
• China: Mindray announced the development of affordable MRI systems tailored for regional hospitals, supported by government subsidies to expand access to advanced medical imaging technologies.
• Germany: Siemens Healthineers introduced AI-powered MRI systems for precision diagnostics, aiming to meet government targets for improving healthcare quality and efficiency through innovative technology.
• India: Philips Healthcare partnered with local hospitals to install MRI systems in rural areas, contributing to government efforts to enhance healthcare accessibility and diagnostic capabilities nationwide.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
MRI System Market by Segment
The study includes a forecast for the global MRI system market by architecture, field strength, application, end use, and region.
MRI System Market by Architecture [Value from 2018 to 2030]:
• Open System
• Closed System
MRI System Market by Field Strength [Value from 2018 to 2030]:
• Low Field Strength
• Mid Field Strength
• High Field Strength
MRI System Market by Application [Value from 2018 to 2030]:
• Oncology
• Neurology
• Musculoskeletal
• Vascular
• Gastroenterology
• Cardiology
• Others
MRI System Market by End Use [Value from 2018 to 2030]:
• Hospitals
• Imaging Centers
• Ambulatory Surgical Centers
• Others
MRI System Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of MRI System Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies MRI system companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the MRI system companies profiled in this report include-
• GE Healthcare
• Siemens
• Koninklijke Philips
• Hitachi Medical Systems
• Toshiba Corporation
• Aurora Imaging Technologies
• Esaote
• Sanrad Medical Systems
• Fonar Corporation
• Neusoft Medical Systems
Recent Development in the MRI System Market
• Canon Medical Systems: Introduced the Vantage Galan 3T MRI system, incorporating Advanced intelligent Clear-IQ Engine (AiCE) technology for high-resolution imaging with reduced noise.
• Hitachi Healthcare Americas: Expanded its MRI portfolio with the Echelon Oval 1.5T MRI system, offering enhanced image quality and patient comfort through wide-bore design.
• Toshiba Medical Systems: Innovated with the Vantage Titan / Zen Edition MRI system, focusing on reducing examination time and improving workflow efficiency in clinical settings.
• Bruker Corporation: Introduced preclinical MRI systems such as the BioSpec series, enabling high-resolution imaging for biomedical research and drug discovery applications.
• Fonar Corporation: Launched the Upright® MRI system, offering positional imaging capabilities that enhance diagnostic accuracy for spine-related conditions and patient comfort.
Features of the Global MRI System Market
Market Size Estimates: MRI system market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: MRI system market size by various segments, such as by architecture, field strength, application, end use, and region in terms of value ($B).
Regional Analysis: MRI system market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different architecture, field strength, applications, end uses, and regions for the MRI system market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the MRI system market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the MRI system market size?
Answer: The global MRI system market is expected to reach an estimated $6.9 billion by 2030.
Q2. What is the growth forecast for MRI system market?
Answer: The global MRI system market is expected to grow with a CAGR of 5.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the MRI system market?
Answer: The major drivers for this market are increasing prevalence of chronic diseases requiring diagnostic imaging, growing investments in healthcare infrastructure globally, and rising demand for non-invasive diagnostic procedures.
Q4. What are the major segments for MRI system market?
Answer: The future of the MRI system market looks promising with opportunities in the hospital, imaging center, and ambulatory surgical center markets.
Q5. Who are the key MRI system market companies?
Answer: Some of the key MRI system companies are as follows:
• GE Healthcare
• Siemens
• Koninklijke Philips
• Hitachi Medical Systems
• Toshiba Corporation
• Aurora Imaging Technologies
• Esaote
• Sanrad Medical Systems
• Fonar Corporation
• Neusoft Medical Systems
Q6. Which MRI system market segment will be the largest in future?
Answer: Lucintel forecasts that open system is expected to witness higher growth over the forecast period.
Q7. In MRI system market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the MRI system market by architecture (open system and closed system), field strength (low field strength, mid field strength, and high field strength), application (oncology, neurology, musculoskeletal, vascular, gastroenterology, cardiology, and others), end use (hospitals, imaging centers, ambulatory surgical centers, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to MRI System Market Market, MRI System Market Market Size, MRI System Market Market Growth, MRI System Market Market Analysis, MRI System Market Market Report, MRI System Market Market Share, MRI System Market Market Trends, MRI System Market Market Forecast, MRI System Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.