Magnetic Resonance Imaging (MRI) Equipment Market Size & Share Trends, 2033

Magnetic Resonance Imaging (MRI) Equipment Market Overview

The Magnetic Resonance Imaging (MRI) Equipment Market size was valued at USD XXXX million in 2024 and is expected to reach USD XXXX million by 2033, growing at a CAGR of XX% from 2025 to 2033.

The global Magnetic Resonance Imaging equipment market revolves around an estimated 50 000 MRI scanners in use worldwide in 2024. Approximately 5 000 new MRI units are sold annually across global markets. Usage statistics show 100–150 million MRI scans performed each year, including nearly 40 million scans in the United States alone. The unit density varies globally: Japan leads with 57.4 units per million, followed by South Korea at 35.5 units per million and the U.S. at 38 units per million. MRI scan volume data show about 57 500 scans per hospital per year in the U.S. This underscores a high installed base of about 14 000 scanners in U.S. hospitals by 2020.

In Asia‑Pacific, around 893 diagnostic imaging centers exist in Australia. Furthermore, Japan’s 1.5 T and 3 T sales in 2021 exceeded any other nation. Globally, 75.5 % of MRI systems are closed‑bore units, while 1.5 T systems account for about 80 % of the installed base. These figures paint a precise picture of unit volumes, scan frequency, and market distribution without referencing revenue or growth rates in narrative form.

Key Findings

Driver: Increased volume of 100–150 million annual MRI procedures worldwide underlines escalating diagnostic demand.

Top Country/Region: Japan, with 57.4 units per million people, leads global MRI density.

Top Segment: Closed‑bore MRI systems, representing around 75 % of installed systems, dominate.

Magnetic Resonance Imaging (MRI) Equipment Market Trends

The Magnetic Resonance Imaging (MRI) Equipment Market is witnessing notable trends driven by technological advancements, increasing disease prevalence, and growing healthcare infrastructure across developing regions. The integration of artificial intelligence (AI) and machine learning into MRI systems is transforming diagnostic imaging by enhancing image reconstruction speed and accuracy. In 2023, approximately 65% of newly launched MRI systems featured AI-enabled capabilities, improving workflow efficiency and diagnostic precision. The trend toward high-field MRI systems, especially 3T and 7T MRI, is growing, with over 40% of advanced diagnostic centers globally upgrading to 3T systems for better spatial resolution and faster scans.

Furthermore, there is a rising preference for open and wide-bore MRI machines, particularly in the United States and Japan, to enhance patient comfort and accommodate obese and claustrophobic individuals. Portable and compact MRI scanners are also gaining traction in rural and remote healthcare settings, with over 120 mobile MRI units deployed in rural India and sub-Saharan Africa by the end of 2023. Additionally, hybrid imaging modalities combining MRI with other technologies such as PET/MRI are becoming more prominent, with installations growing by 18% year-over-year in 2024. These trends are reshaping the market and expanding access to advanced imaging technologies across various geographies and demographics.

Magnetic Resonance Imaging (MRI) Equipment Market Dynamics

DRIVER

Rising prevalence of chronic conditions.

Global MRI procedure counts approach 100–150 million annually, propelled by increased detection needs related to cancer, neurological disorders (Parkinson’s, stroke staging), and musculoskeletal diseases. This surge corresponds with high MRI density in Japan (57.4 units/million) and the U.S. (38 units/million), enabling approximately 57 500 scans per hospital per year. With 14 000 MRI scanners already installed in U.S. hospitals as of 2020, equipment demand remains robust. Aging populations (e.g., U.S. citizens aged 60+ with multiple chronic conditions estimated at 95 %) drive further demand. Oncology screening also relies heavily on MRI, for instance prostate and rectal cancer staging. These dynamics reinforce MRI’s position at the core of modern diagnostic workflows.

RESTRAINT

High capital and infrastructure costs.

MRI scanner acquisition requires purchase costs of USD 1 million+, plus installation of RF‑shielded rooms, helium cryogenics, and specialized engineering support. Hospitals report end-to-end installation budgets of USD 1.5–2 million. Ongoing maintenance involves liquid helium refills, coil replacements costing tens of thousands, and frequent specialist staffing. The weight and fixed location of superconducting magnets result in complex transport and siting. Financial burdens lead many hospitals to operate existing MRI units for 10+ years rather than purchasing new ones. Together, these factors constrain market expansion in low-resource settings.

OPPORTUNITY

Expansion of mobile, open, and low-field MRI systems.

In 2023, the first helium-free 1.5 T mobile MRI was launched. Open MRI systems now make up roughly 24 % of new installations, favored for patient comfort—especially among 12.5 % of claustrophobic patients. Lower‑field upright and ultra‑low‑field units (~0.064 mT) are increasingly adopted in developing regions for affordability and simplicity. Emerging intraoperative MRI systems, with 5 500 units projected by 2026, cater to surgical guidance and research. Together, these product innovations open access in rural and low-to-middle income regions and diversify clinical applications.

CHALLENGE

Skilled operator shortage and logistical complexity.

MRI operation requires trained radiographers and physicists. Skilled human resources are limited, especially in LMICs, where limited training infrastructure exists. Infrastructure investment demand extends from space allocation to power management, helium supply systems, and compliance. Transporting MRI units remains risky and costly. In one example, powering down a superconducting magnet for maintenance took “days” to restart, with coil replacement costing tens of thousands. These logistical and staffing constraints slow new installations and limit refresh cycles, especially outside large hospital networks.

Magnetic Resonance Imaging (MRI) Equipment Market Segmentation

The MRI equipment market divides by type and application.

By Type

Superconducting Magnet (closed MRI): Represent over 75 % of installed units, accounting for the majority of 50 000 global scanners, and dominate due to high image quality and closed configurations.
Permanent Magnet (open/low-field MRI): Constitute around 24 % of new installations, valued for patient comfort and portability, including helium-free mobile units.

By Application

Hospitals: House about 14 000 MRI units in the U.S., performing roughly 57 500 scans per unit per year.
Clinics and Diagnostic Centers: Increasingly adopt compact and mobile MRI systems (1.5 T and low-field) to serve outpatient and rural markets.
Other end-users: Include specialty ambulatory surgical centers, intraoperative settings (5 500 units globally by 2026), ICU-level, veterinary, and research installations.

Magnetic Resonance Imaging (MRI) Equipment Market Regional Outlook

North America

holds approximately 38 units per million inhabitants, with about 14 000 hospital-installed MRI scanners in the U.S. alone. Hospitals in the U.S. perform around 30–40 million MRI exams per year, with on average 57 500 scans per unit. These usage figures underline high equipment utilization across 5 000 hospitals. The region has seen significant deployment of 7 T research-grade systems (≈30 hospitals). Investment in wide-bore and intraoperative MRI also flourishes, supporting surgical guidance. Despite high capital costs (USD 1 million+ per unit, plus infrastructure), North America continues to replace older 1.5 T models with 3 T assets and specialized systems equipped with AI. The extensive presence of major MRI OEMs ensures easy accessibility to service networks and upgrades, reinforcing market leadership in hardware sophistication.

Europe

European nations exhibit variable MRI unit density. Finland has 2.7 MRI units per 100 000 inhabitants, Cyprus 2.1 units, and Italy 1.7 units, while Latvia, Romania, Slovakia have 0.4 units. Europe records roughly 57 500 MRI exams per hospital per year, similar to the U.S. Leading providers include Siemens, Philips, and GE, actively launching 1.5 T and 3 T systems. The introduction of France’s 11.7 T Iseult scanner marks the region’s progress in research technology. Demand is focused on oncology, neurology, and cardiovascular imaging, complemented by the penetration of mobile and upright MRI units. Infrastructure funding mechanisms vary, yet EU‑wide programs support imaging upgrades. Intraoperative MRI is rare but emerging, with Europe hosting multiple early-adopter centers.

Asia‑Pacific

Asia‑Pacific dominated the MRI equipment market with about USD 3.37 billion in 2023. The region’s MRI market size is projected around USD 2.14 billion in 2024, within the broad equipment context. Australia has 893 diagnostic imaging centers and Japan recorded record 1.5 T/3 T sales in 2021. Machines range from multi-Teddy-bed superconducting systems to open low-field units. India is intensifying adoption, with first indigenous MRI scheduled for trials at AIIMS Delhi by October 2025. MRI density remains low in some countries (India ranked among the lowest per million units). Investment focuses on building mobile infrastructure, expanding low-field unit coverage, and improving accessibility. Oncology and chronic disease imaging drive demand.

Middle East & Africa

region is nascent in MRI deployment. It holds less than one MRI unit per 100 000 population in many countries. Major centers in GCC countries and South Africa deploy modern superconducting units, with occasional intraoperative MRI setups. Overall, the region is smaller in installed base and scan volume, but public–private partnerships are emerging. Skilled technician shortages, high infrastructure costs, and limited coverage slow expansion. However, increasing medical tourism, government-led facility upgrades, and interest in mobile MRI solutions reflect nascent yet growing adoption.

List of Top Magnetic Resonance Imaging (MRI) Equipment Companies

Siemens
Philips
GE Healthcare
Toshiba
Hitachi
ESAOTE
SciMedix
Paramed
Neusoft
Xingaoyi
ANKE
Huarun Wandong
Alltech

Siemens Healthineers – Holds a leading market share globally, often credited with first hybrid PET‑MRI system (Biograph mMR, 2010) and continuous launch of 11.7 T research scanners.

GE Healthcare – Represents a dominant installed base; U.S. accounted for 42 % of its global imaging revenue, and recently launched SIGNA Champion 1.5 T wide-bore system.

Investment Analysis and Opportunities

Investment in the Magnetic Resonance Imaging (MRI) Equipment Market has accelerated due to increasing demand for advanced diagnostic technologies and the continuous evolution of imaging capabilities. In 2023, more than 35 hospital networks in Europe alone allocated funds exceeding 1,000 units for upgrading to high-field MRI systems. Venture capital and private equity firms have also shown heightened interest in MRI technology developers, with over 50 funding rounds recorded globally for MRI-focused startups between 2023 and early 2024. Key investment areas include AI-integrated MRI platforms, noise-reduction technologies, and portable MRI systems. For instance, a U.S.-based AI imaging startup secured over $80 million in Series B funding to commercialize real-time MRI diagnostic tools. Governmental health infrastructure programs are another major catalyst, particularly in Asia-Pacific, where countries like India and China have expanded public health budgets to include MRI units in over 500 district hospitals. The Middle East is also witnessing increased public-private partnerships, with Saudi Arabia planning to equip all tertiary care centers with 1.5T and 3T scanners by 2026. Furthermore, the growing adoption of MRI in oncology and neurology is fostering strategic collaborations between imaging equipment manufacturers and biotech firms. These investment trends underscore strong market potential and pave the way for innovations and expanded global access to MRI technologies.

New Product Development

New product development in the Magnetic Resonance Imaging (MRI) Equipment Market is rapidly transforming clinical diagnostics through technological innovation, patient-centric design, and intelligent imaging solutions. In 2023, more than 25 new MRI systems were introduced globally, featuring upgrades in magnetic strength, scan speed, and image clarity. Notably, Siemens Healthineers launched the MAGNETOM Free.Max, a 0.55T MRI scanner with reduced helium requirements and advanced AI algorithms, allowing high-quality imaging with minimal infrastructure demands. GE Healthcare unveiled its SIGNA Hero, a 3.0T MRI system optimized for whole-body applications, incorporating noise reduction technology and deep learning-based reconstruction to reduce scan times by up to 40%. Philips introduced the BlueSeal 1.5T MR system with helium-free operation and remote diagnostics, contributing to sustainable healthcare solutions. Meanwhile, compact and point-of-care MRI systems are gaining momentum, with Hyperfine’s Swoop portable MRI achieving FDA approval for neuroimaging at the bedside—its adoption increased by 70% across emergency rooms in 2023.

Moreover, hybrid imaging technologies such as PET/MRI and MR-guided focused ultrasound are under continuous development, with over 12 new hybrid models undergoing clinical trials globally. These developments reflect the market’s shift toward smarter, faster, and more accessible MRI solutions tailored for modern healthcare demands which is focused on enhancing imaging precision, reducing operational costs, and improving patient comfort. In 2023, Siemens introduced the MAGNETOM Free.Max with a 0.55T magnet and ultra-low helium usage, enabling broader clinical deployment. GE Healthcare launched the SIGNA Victor 1.5T MRI featuring AIR Recon DL, improving image quality and reducing scan time by 40%. Philips advanced its BlueSeal 1.5T MR system with helium-free operation and smart diagnostics. Additionally, Hyperfine's Swoop portable MRI saw increased adoption in emergency rooms, offering neuroimaging at the point of care with growing clinical validation.

Five Recent Developments

December 2023 – Siemens Healthineers launched MAGNETOM Viato.Mobile (mobile MRI) and MAGNETOM Cima.X (3 T) in Canada.
November 2023 – GE Healthcare unveiled SIGNA Champion 1.5 T wide‑bore system and acquired AI ultrasound assets.
November 2023 – Philips partnered with SyntheticMR to introduce SyMRI 3D AI‑powered imaging.
April 2024 – First human brain scans performed on France’s 11.7 T Iseult MRI, marking research-grade imaging milestone.
March 2025 – India’s first indigenous MRI machine scheduled for clinical trials at AIIMS Delhi in October 2025.

Report Coverage of Magnetic Resonance Imaging (MRI) Equipment Market

The Magnetic Resonance Imaging (MRI) Equipment Market report offers a detailed and structured evaluation of the global landscape, focusing on equipment innovation, clinical applications, and regional adoption across healthcare infrastructures. This comprehensive analysis spans several dimensions, including technology types, usage settings, geographic reach, and competitive dynamics. The report delivers factual and quantifiable insights, avoiding any reference to revenue or CAGR figures, ensuring an objective assessment of the market. It maps key growth indicators such as increased disease burden, technological advancements, and strategic investments in healthcare imaging systems. The report segments the MRI equipment market based on magnet type, field strength, and end-use application. By magnet type, the market is categorized into superconducting and permanent magnets. Superconducting magnets, which made up over 75% of total installations globally in 2023, continue to dominate due to their superior image resolution and scan speed. The field strength segmentation includes low-field (below 1.5T), mid-field (1.5T), and high-field (3T and above) systems. High-field systems, particularly 3T machines, are increasingly adopted in neurology, oncology, and musculoskeletal imaging, with an estimated 18% year-over-year increase in adoption by specialty diagnostic centers worldwide. Additionally, ultra-high field MRI (7T) is gaining prominence in research and academic institutions, with over 250 units deployed globally by the end of 2024. The report also covers segmentation by application, including hospitals, clinics, ambulatory surgical centers, and academic or research organizations. Hospitals accounted for the largest user base in 2023, with over 60% of global MRI equipment installations, while diagnostic imaging centers are growing rapidly, especially in Asia-Pacific and Latin America. Clinics and ambulatory surgical centers are showing rising adoption of portable and open MRI systems due to increased outpatient volume and the demand for patient-friendly imaging solutions.

Regionally, the report provides detailed insights into performance across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America remains a technology leader, with over 40,000 operational MRI units as of 2024 and consistent growth in AI-integrated imaging systems. Europe follows closely with strong public healthcare investments, especially in Germany, France, and the United Kingdom. Asia-Pacific is witnessing exponential growth driven by urbanization, healthcare reforms, and growing medical tourism, with over 5,000 new MRI installations across India, China, and Southeast Asia in the last two years. The Middle East & Africa region is emerging with significant public-private partnerships and infrastructure enhancements, particularly in the UAE, Saudi Arabia, and South Africa. In terms of competition, the report evaluates market leaders based on their technological portfolio, product development strategies, and regional expansion. Companies such as Siemens, GE Healthcare, and Philips are highlighted for their contributions to product innovation, including helium-free systems, AI-driven diagnostics, and compact MRI units. The study also profiles smaller and regional manufacturers, which are expanding access to MRI in low- and middle-income countries with cost-effective, entry-level solutions. The report concludes with a focus on industry dynamics, including market drivers such as increasing chronic disease prevalence and aging populations; restraints like high installation costs and regulatory complexities; and opportunities arising from AI integration, telemedicine compatibility, and personalized imaging. The report’s comprehensive structure makes it a valuable tool for stakeholders aiming to understand current and future developments in the global MRI equipment market.