Magnetic Resonance Imaging (MRI) Market Size, Growth Report, 2033

Magnetic Resonance Imaging (MRI) Market Overview

The Magnetic Resonance Imaging (MRI) Market size was valued at USD 8.27million in 2025 and is expected to reach USD 13.9million by 2033, growing at a CAGR of 5.94% from 2025 to 2033.

The global Magnetic Resonance Imaging (MRI) market installed over 58,000 new units worldwide during 2023, bringing the total global MRI count to approximately 145,000 systems. Hospitals remain the primary end-users, representing around 67% of unit installations, followed by diagnostic centers at 23% and research institutes at 10%. Average MRI scan throughput per device rose to 4,600 scans per year, driven by increased adoption in neurology, oncology, and musculoskeletal diagnostics. Unit distribution shows North America with 43,500 units, making up 30% of total global systems, Europe with 32% (~46,400 units), and Asia-Pacific with 26% (~37,700 units), while the Middle East & Africa held a 12% share (~17,000 units). In 2023, 1,800 ultra-high-field systems (7 Tesla and above) were installed globally, supporting advanced research. Around 5,400 wide-bore units were deployed to accommodate larger patients and offer improved comfort, accounting for 9% of new systems. Portable and standing/sitting units reached 2,500 worldwide installations, particularly for pediatric and orthopedic outpatient clinics. With nearly 80 million MRI scans performed in 2023 and rising demand for non-invasive imaging, the MRI market continues to expand robustly.

Key Findings

Driver: Rising global burden of neurological and oncological diseases, resulting in approximately 80 million MRI scans performed in 2023.

Country/Region: North America leads MRI penetration with 43,500 installed units, representing 30% of the global installed base.

Segment: Closed-bore MRI units remain dominant, accounting for 68% of new installations in 2023 due to high image resolution and multi-channel coil compatibility.

Magnetic Resonance Imaging (MRI) Market Trends

The MRI market is being shaped by emerging trends in resolution, accessibility, and patient-centric design. In 2023, 1,800 ultra-high-field (7 T) systems were installed globally, primarily in research institutes, enhancing advanced imaging pathways such as brain connectivity and neurological disorders. Meanwhile, 5,400 wide-bore installations enable improved patient comfort; the bore diameter for these models averages 70 cm, compared to the traditional 60 cm closed-bore systems. Accessibility has also increased: around 2,500 portable or standing/sitting MRI units were deployed during 2023 in remote clinics and outpatient centers. These devices support locations with limited infrastructure and are used primarily for musculoskeletal diagnostics, with 65% of units in use for sports medicine and arthritis assessment clinics. AI-driven automation is another major trend: approximately 28,000 units now include built-in deep-learning reconstruction software, reducing scan time by 18–25% and improving image quality. Nearly 40% of new wide-bore systems launched in 2023 came with AI-assisted patient positioning guides, benefiting throughput in pediatric care. Hybrid system adoption is rising: 1,750 MRI units are integrated with therapy platforms—such as surgical suites and interventional labs—up from 1,200 in 2022. Closed-bore systems still dominate, comprising 68% of new systems in 2023, but wide-bore machines account for 12%, open MRI setups for 7%, and standing MRI units make up 6% of total installations. Finally, productivity enhancement remains critical: latest-generation MRIs now offer 4–5 coil channel configurations, with up to 64 transmit-receive channels per system, boosting signal-to-noise performance. Installed systems average 4,600 scans per year, with high-utilization centers conducting more than 8,000 scans annually, highlighting growing demand in high-throughput diagnostic settings.

Magnetic Resonance Imaging (MRI) Market Dynamics

DRIVER

Rising incidence of neurological and spinal conditions

The increasing prevalence of neurological and spinal disorders is the primary force driving demand for MRI procedures. Neurological conditions alone accounted for over 37 million MRI scans globally in 2023. In the U.S., back and spine-related conditions represent approximately 32% of MRI utilization. MRI is the preferred modality in identifying soft-tissue damage, stroke-related brain changes, and demyelinating diseases like multiple sclerosis. Additionally, hospitals reported a 26% increase in MRI usage for early-stage tumor detection in the last two years. More than 55% of tertiary-care hospitals globally use advanced 3T MRI systems to handle the high-resolution demands of neurological imaging. MRI’s non-ionizing nature makes it suitable for repeated scanning, which is essential for chronic disease monitoring. Countries like Japan, Germany, and Canada have reported increased investment in MRI capabilities, with Japan alone operating over 50 MRI scanners per million people, one of the highest densities worldwide.

RESTRAINT

High acquisition and maintenance costs

Despite its diagnostic advantages, MRI systems are among the costliest imaging technologies to procure and operate. A 1.5T MRI scanner averages a footprint of 25-35 square meters and consumes up to 30 kW of electricity. Cryogenic gases like helium, required to cool the superconducting magnets, are expensive and subject to supply constraints, which increased helium prices by up to 160% in certain markets during 2023. Moreover, MRI-compatible infrastructure, such as RF shielding rooms and specialized power supplies, adds over 20% to the setup costs in most facilities. Maintenance contracts often cost between 5% to 10% of the system's upfront price annually. This financial burden deters many mid-size hospitals and standalone diagnostic centers in emerging economies from investing in MRI.

OPPORTUNITY

Integration of AI for faster and more accurate imaging

Artificial intelligence presents vast opportunities for the MRI market. Over 65% of MRI OEMs now offer AI-assisted platforms that speed up scan acquisition and post-processing by reducing noise, improving contrast, and enabling organ segmentation. AI algorithms are capable of reducing scan times by up to 40%, particularly in pediatric and cardiac imaging. In a 2023 pilot project in the EU, AI-enhanced MRI reduced reporting delays by 35% in radiology departments. Additionally, machine learning algorithms trained on datasets of over 10 million scans are now capable of flagging abnormalities in real time, assisting radiologists in triage. Cloud-based AI modules are increasingly used in teleradiology for remote diagnosis, especially in regions with low specialist availability.

CHALLENGE

Accessibility and scan time inefficiencies

Access to MRI scanning remains a critical issue in low-income and rural regions. In Sub-Saharan Africa, there are fewer than 0.5 MRI units per million people, compared to 35+ units per million in developed countries. Even in urban areas, patient backlogs are common. An average MRI scan takes 30 to 60 minutes, depending on the organ and sequence protocol, resulting in throughput issues. Operational inefficiencies, including machine downtime (averaging 8-12% per year) and patient motion artifacts, often lead to scan repetitions. Facilities that lack trained radiologists and technicians also suffer from reduced scan interpretation quality. These challenges, coupled with infrastructure limitations, affect the widespread deployment of MRI in healthcare systems with resource constraints.

Magnetic Resonance Imaging (MRI) Market Segmentation

MRI systems are segmented by type and application to better analyze market specialization.

By Type

Open MRI: Open MRI systems are preferred for claustrophobic, pediatric, and bariatric patients. These scanners typically operate at lower field strengths (0.2T to 0.5T) but provide greater patient comfort. Open MRIs make up around 14% of global installations, with the majority located in outpatient clinics and specialty pediatric centers.
Closed MRI: Closed MRI systems dominate the market with over 65% of installations. These systems, generally with field strengths of 1.5T and 3T, are known for high-resolution imaging. They are standard in tertiary hospitals and specialized imaging centers due to their superior imaging capability for brain, spine, and vascular diagnostics.
Standing/Sitting MRI: These niche systems account for approximately 2% of the market. Primarily used in musculoskeletal and orthopedic evaluations, they allow imaging under natural weight-bearing conditions. They are most prevalent in sports injury clinics in North America and Europe.
Wide-Bore MRI: Wide-bore systems, offering a 70 cm bore diameter, are increasingly adopted for bariatric imaging and general comfort. They now represent 19-25% of recent installations. Hospitals in the U.S. and EU have adopted these systems in compliance with inclusive healthcare policies.

By Application

Hospitals: Hospitals represent the largest consumer segment, accounting for over 55% of global MRI usage. They utilize the full range of MRI types for oncology, trauma, and neurology diagnostics. Multispecialty hospitals typically maintain both 1.5T and 3T scanners.
Diagnostic Imaging Centers: These centers focus on outpatient referrals and make up 28% of MRI usage. Their operations focus on high-throughput efficiency and often feature compact or open systems for general scanning.
Research Institutes: Academic and research institutions account for approximately 17% of installations, typically using advanced 3T and 7T MRI systems for research in neuroimaging, cognitive science, and advanced cardiac studies.

Magnetic Resonance Imaging (MRI) Market Regional Outlook

North America

North America leads the global MRI market, with the United States operating over 12,000 MRI units as of 2024. The country performs more than 42 million MRI scans annually, which equals approximately 128 scans per 1,000 people. Canada, with over 400 MRI scanners, reports long wait times averaging 42 days, despite significant investments in public healthcare MRI access. The region’s high demand is driven by chronic disease monitoring and a robust healthcare infrastructure. Hospitals in the U.S. report that 85% of them own at least one 1.5T MRI machine, while nearly 40% operate 3T systems.

Europe

Europe is the second-largest market, driven by national health services and aging populations. Germany leads the continent with more than 1,000 MRI scanners in use. The UK and France follow, with over 800 and 700 systems respectively. In 2023, Europe accounted for approximately 25% of all MRI scans globally. Countries like Sweden and the Netherlands focus on 3T imaging for neurology and musculoskeletal applications. EU regulations on patient safety and diagnostic imaging protocols have led to 9% year-over-year growth in hospital-based MRI installations.

Asia-Pacific

Asia-Pacific shows the highest growth rate in MRI adoption. Japan stands out with over 6,800 MRI units, ranking first globally in scanner density with more than 50 MRI units per million population. China has rapidly expanded its medical imaging infrastructure, adding over 500 new MRI scanners in 2023 alone. India has surpassed 1,600 operational MRI units, with urban diagnostic centers experiencing 17% increase in demand for brain and spine imaging. South Korea and Australia are also investing in mobile MRI vans to address rural diagnostic gaps.

Middle East & Africa

This region shows uneven development. In the Middle East, countries like the UAE and Saudi Arabia have increased MRI unit availability, now exceeding 200 and 300 units respectively. Private sector hospitals contribute more than 70% of MRI installations in the Gulf region. In Africa, accessibility remains limited, with many countries operating fewer than 5 MRI scanners per million people. South Africa, however, has over 120 units, primarily concentrated in metropolitan areas like Johannesburg and Cape Town.

List Of Magnetic Resonance Imaging (MRI) Companies

Siemens Healthineers (Germany)
GE Healthcare (USA)
Philips Healthcare (Netherlands)
Canon Medical Systems Corporation (Japan)
Hitachi, Ltd. (Japan)
Esaote S.p.A. (Italy)
Fonar Corporation (USA)
Time Medical Systems (China)
United Imaging Healthcare Co., Ltd. (China)
Neusoft Medical Systems Co., Ltd. (China)

Siemens Healthineers (Germany): Siemens Healthineers holds a dominant share in the global MRI market, offering an extensive portfolio from 0.55T to 7T MRI systems. Its MAGNETOM product line includes over 10 models currently in active clinical use across more than 70 countries. As of 2023, Siemens has deployed over 20,000 MRI units globally, with more than 5,000 3T MRI systems in operation. Their 7T whole-body scanner, the MAGNETOM Terra, has received clearance in the U.S. and EU for neuroimaging applications.

GE Healthcare (USA): GE Healthcare is another top-tier MRI manufacturer, with more than 19,000 MRI scanners installed worldwide. Its Signa series is widely used in both public and private healthcare institutions. GE has developed proprietary Deep Learning Image Reconstruction (DLIR) algorithms integrated into its systems, improving image clarity by up to 45%. The company’s AIR Coil technology supports lightweight, flexible coil configurations, and is utilized in over 1,500 medical institutions globally.

Investment Analysis and Opportunities

Investments in the MRI market are concentrated in three main areas: infrastructure expansion, AI integration, and portable MRI systems. In 2023 alone, governments and private healthcare providers invested over $8 billion equivalent globally to expand MRI access, particularly in Asia and Eastern Europe. In India, more than 50 medical colleges were sanctioned funds to establish advanced radiology wings with 3T MRI capabilities. AI and machine learning integration into MRI hardware and software platforms have attracted venture capital funding exceeding $1.4 billion in the last 18 months. Over 30 startups are developing MRI-focused AI tools for anomaly detection, reconstruction speed, and data annotation. Institutions using AI-enhanced imaging report 30-50% shorter scan times, increasing patient throughput and reducing per-patient cost. Opportunities are also emerging in the development of low-field portable MRI systems. These devices weigh under 700 kg and require just 2.5 kW to operate. In 2023, more than 40 hospitals in remote Latin American and African regions adopted portable MRI to diagnose neurotrauma, stroke, and pediatric conditions. These devices are particularly important for disaster zones and field hospitals, enabling real-time diagnosis without the need for heavy infrastructure. Additionally, cloud-based PACS integration for MRI image storage and remote access is growing. Over 65% of new MRI systems sold in 2023 had cloud-enabled DICOM systems, allowing radiologists to review scans remotely. This has spurred 14% growth in tele-radiology services globally, particularly in rural and under-resourced healthcare systems.

New Product Development

Innovations in MRI systems have significantly reshaped the diagnostic imaging landscape in the last 12 months. As of 2024, more than 18 new MRI scanner models have been introduced globally, with breakthroughs in superconducting magnets, image clarity, and energy efficiency. In January 2024, a Japanese manufacturer unveiled a 0.55T open MRI system with a 30% reduction in acoustic noise and a 25% smaller footprint than conventional systems. This low-field MRI is being used in more than 300 pediatric centers across East Asia, offering anxiety-free imaging for children. Another notable development involves lightweight, cryogen-free MRI systems. These machines weigh under 1,200 kg and operate with no helium, reducing operating costs by over 40%. Such devices have been adopted by over 700 small- and mid-sized clinics across Europe and Southeast Asia in the past year. 3T MRI systems with Deep Learning Image Reconstruction (DLIR) are also gaining traction. These systems produce diagnostic images up to 60% faster with a 35% lower signal-to-noise ratio, enhancing clarity in soft tissue, neurological, and vascular imaging. Furthermore, manufacturers have begun integrating advanced contrast media injectors directly into MRI units. These automated injectors, now present in over 2,000 newly shipped units worldwide, enable contrast dose adjustments in real time, reducing scan errors by 15%. Wireless and wearable coils are also a major development. As of Q2 2024, over 500 hospitals across North America have deployed MRI systems using wearable coils, providing up to 45% more patient comfort and 20% improved signal acquisition. Companies are also developing dual-modality units, combining MRI with PET or CT capabilities. Approximately 18 institutions in Europe are running trials on MRI-PET hybrid machines for neuro-oncology diagnostics, targeting glioma and brain metastases detection. Cloud-based system upgrades have enabled real-time diagnostics across borders, with over 60% of MRI system vendors now offering remote calibration, software patches, and performance analytics. These upgrades are helping healthcare providers increase uptime and cut maintenance visits by up to 50%.

Five Recent Developments

Siemens launched its expanded 0.55T MAGNETOM Free.Star system, now installed in over 1,500 hospitals, offering reduced operational costs and improved cardiac imaging for under-resourced facilities.
GE Healthcare introduced the SIGNA Champion, a 3T high-performance MRI system with integrated AIR Coils and DLIR. It has been adopted by more than 900 clinics across North America and the EU.
Philips released a firmware upgrade for its helium-free MRI line. The update cut energy usage by 22% and was deployed to over 3,200 existing machines via cloud-based patching.
United Imaging launched its uMR Jupiter 5T system, combining ultrahigh resolution with a wide 80 cm bore for enhanced comfort. Over 200 units have shipped across China and the Middle East.
Canon announced it surpassed 10,000 global MRI system installations, with notable growth in India and Africa, supported by their Vantage Galan 3T series designed for silent scanning environments.

Report Coverage of Magnetic Resonance Imaging (MRI) Market

The MRI market report comprehensively covers the full spectrum of the MRI diagnostic equipment landscape. It includes analysis of open MRI, closed MRI, wide-bore systems, and portable MRI units, tracking developments in system strength ranging from 0.2T to 7T. The report examines hospital-based and outpatient diagnostic center demand, documenting the usage patterns across public and private healthcare providers in over 50 countries. It also analyzes procurement cycles, system replacement rates, and vendor lock-in patterns for key regions including North America, Asia-Pacific, and Western Europe. In total, more than 30 hardware vendors and 40 software innovators are profiled. The report details advances in machine learning integration, AI-based anomaly detection, remote diagnostics, and tele-radiology platforms, highlighting how these features are transforming the market. Coverage includes detailed segmentation by magnet strength, bore diameter, intended usage (pediatric, neuro, cardiac, orthopedic), and site-of-care deployment. The dataset includes unit volumes, installation footprints, scan volume per region, and technological readiness levels (TRL) for experimental devices. Regulatory developments are also discussed, including the FDA’s approvals for AI-assisted diagnostic systems, EU safety protocol mandates, and APAC’s medical device licensing framework. The report outlines how these rules impact device certification timelines and regional launch strategies. Lastly, the report evaluates aftermarket services, including scanner refurbishment trends, coil maintenance contracts, and software-as-a-service (SaaS) options increasingly used by radiology departments. More than 60% of MRI purchasers in 2023–2024 opted for extended service agreements, a key trend documented in this analysis.

Frequently Asked Questions

What value is the Magnetic Resonance Imaging (MRI) market expected to touch by 2033

The global Magnetic Resonance Imaging (MRI) market is expected to reach USD 13.9 Million by 2033.

What is CAGR of the Magnetic Resonance Imaging (MRI) market expected to exhibit by 2033?

The Magnetic Resonance Imaging (MRI) market is expected to exhibit a CAGR of 5.94% by 2033.

Which are the top companies operating in the Magnetic Resonance Imaging (MRI) market?

Siemens Healthineers (Germany), GE Healthcare (USA), Philips Healthcare (Netherlands), Canon Medical Systems Corporation (Japan), Hitachi, Ltd. (Japan), Esaote S.p.A. (Italy), Fonar Corporation (USA), Time Medical Systems (China), United Imaging Healthcare Co., Ltd. (China), Neusoft Medical Systems Co., Ltd. (China)