Magnetic Resonance Imaging Systems Market Report 2024-2028

The magnetic resonance imaging (Mri) systems market is projected to grow by USD 2.86 billion at a CAGR of 6.78% between 2023 and 2028. This growth is fueled by the increasing prevalence of chronic diseases, particularly among the aging population, and advancements in MRI technology. However, the high cost of MRI systems poses a challenge to market expansion.

For more details about the industry, get the PDF sample report for free

Market Segmentation

By Product

• Closed MRI Systems

• Open MRI Systems

By Type

• Fixed MRI

• Mobile MRI

By Geography

• North America

  • United States

  • Canada

• Europe

  • Germany

  • United Kingdom

• Asia

  • China

• Rest of the World (ROW)

Market Drivers

• Growing Prevalence of Chronic Diseases:

  • Cardiovascular diseases (CVDs) remain the leading cause of death in the United States, with nearly 2,300 deaths per day (CDC).

  • Increasing demand for early and accurate diagnosis for conditions such as Alzheimer’s, cancer, and bone diseases.

• Aging Population:

  • The U.S. Census Bureau projects that Americans aged 65 and older will reach 95 million by 2060, boosting the demand for MRI systems.

• Technological Advancements:

  • Development of hybrid MRI systems combining multiple imaging modalities for enhanced diagnostics.

  • Improved imaging capabilities enabling better treatment planning and patient outcomes.

Market Trends

• Software Advancements in MRI Technology

  • Siemens Healthineers’ launch of Simultaneous Multi-Slice application in 2023, reducing 2D acquisition time by threefold.

  • Enhanced applications such as diffusion tensor imaging (DTI) and blood oxygenation level-dependent (BOLD) imaging.

  • Reduction of MRI scan times for neurological, orthopedic, and abdominal scans.

Market Challenges

• High Cost of MRI Systems

  • A 3.0T MRI system can cost over USD 3 million.

  • Additional expenses include suite setup, installation, maintenance, and software upgrades.

  • Limited affordability in developing economies.

Get more details by ordering the complete report

Key Companies in the Magnetic Resonance Imaging (Mri) Systems Market

Some of the key companies of the Magnetic Resonance Imaging (Mri) Systems Market are as follows:

• Aspect Imaging Ltd.
• AURORA HEALTHCARE US Corp.
• Bruker Corp.
• Canon Inc.
• Esaote Spa
• FONAR Corp.
• FUJIFILM Corp.
• GE Healthcare Technologies Inc.
• Hologic Inc.
• Koninklijke Philips N.V.
• MR Solutions Ltd.
• Neusoft Corp.
• Onex Corp.
• Sanrad Medical Systems Pvt ltd
• Shenzhen Anke High tech Co.
• Shimadzu Corp.
• Siemens Healthineers AG
• Time Medical Holding Co Ltd