MRI Systems Market Projected to Climb to $9.01 Billion by 2030

The global MRI systems market, valued at US$6.15 billion in 2024, grew to US$6.56 billion in 2025 and is projected to advance at a CAGR of 6.5% from 2025 to 2030, reaching US$9.01 billion by 2030. This growth reflects the increasing demand for advanced diagnostic imaging solutions as the burden of neurological, musculoskeletal, and chronic diseases continues to rise worldwide.

With an aging global population and the rising prevalence of conditions such as cancer, Alzheimer’s, Parkinson’s disease, and spinal disorders, MRI systems are playing a pivotal role in non-invasive disease diagnosis and management. Additionally, regulatory support for innovation, favorable reimbursement policies, and technological advancements are further propelling the market forward.

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Attractive Opportunities in the MRI Systems Market

North America Dominance

North America holds the largest share of the global MRI systems market. This dominance is driven by:

• A large geriatric population
• High incidence of chronic diseases
• Increased public health expenditure
• Growing demand for advanced diagnostic solutions

Emerging Markets Potential

In emerging economies, rising MRI installations and growing awareness of preventive healthcare are creating lucrative opportunities. Favorable government funding, healthcare modernization, and infrastructure expansion are also contributing to adoption in Asia-Pacific, the Middle East, and Latin America.

Key Growth Factors

• Technological advancements such as AI-powered MRI and helium-free systems
• Early disease diagnosis trends, especially for cancer and neurological disorders
• Rising Medicare expenditure and healthcare modernization
• Increased musculoskeletal (MSK) disorder cases requiring frequent MRI scans

Market Dynamics

Driver: Growing Geriatric Population & Disease Burden

The global aging population is a major driver of MRI demand. Older adults are more susceptible to neurodegenerative diseases (Alzheimer’s, Parkinson’s) and musculoskeletal disorders (spinal degeneration, arthritis). MRI is considered the gold standard for soft tissue and nerve imaging, making it indispensable for accurate diagnosis.

Restraint: High Cost & Infrastructure Limitations

Despite their benefits, MRI systems are costly. Machines can cost millions, with maintenance adding USD 20,000–40,000 annually. Smaller clinics often struggle with these costs. Patient comfort is another barrier, as claustrophobia during scans can reduce patient compliance. Additionally, limited reimbursement policies hinder wider adoption.

Opportunity: Technological Innovations

• Helium-free MRI: Addresses cost and supply challenges.
• AI-driven MRI: Cuts scan times by up to 50% and enhances diagnostic accuracy.
• Low-field MRI (0.064T–0.5T): Affordable and ideal for rural healthcare.
• MRI-guided Focused Ultrasound (MRgFUS): Emerging for Parkinson’s, tumors, and chronic pain.
• MRI-as-a-Service (MaaS): Subscription-based models for mid-sized hospitals.
• Expanding applications: Beyond neurology and MSK, cardiac MRI and lung imaging are gaining traction.

Challenge: Shortage of Skilled Professionals

A global shortage of MRI technicians and radiographers is a critical challenge. High stress and understaffing are driving attrition, particularly in the US, UK, Germany, and India. Without adequate skilled personnel, adoption of advanced MRI systems may be slowed despite rising demand.

Market Segmentation Insights

By Field Strength

• High & very-high-field MRI (1.5T and 3T) dominate the market, offering high accuracy, faster scan times, and superior image quality.
• Ultra-high-field MRI is gaining traction in research and advanced diagnostics.

By Architecture

• Closed MRI systems held the largest share in 2024 due to their superior image quality and efficiency.
• Open MRI systems are preferred for claustrophobic and pediatric patients but hold a smaller market share.

By Design

• Fixed/stationary MRI systems dominate due to high-resolution imaging, workflow efficiency, and seamless PACS integration.
• Mobile MRI systems are expected to grow in rural and remote healthcare settings.

By Application

• Brain & neurological MRI is projected to record the highest CAGR due to rising cases of stroke, dementia, and epilepsy.
• Musculoskeletal and cardiac MRI are also expanding as demand for early diagnosis grows.

By End User

• Hospitals account for the largest share, driven by adoption of advanced imaging systems and rising patient volume.
• Diagnostic imaging centers are increasingly investing in advanced MRI due to growing outpatient demand.

Regional Analysis

• North America: Largest market due to healthcare spending, innovation, and high disease prevalence.
• Europe: Strong adoption driven by healthcare modernization and research initiatives.
• Asia-Pacific: Expected to record the highest CAGR during the forecast period, fueled by rising healthcare investments, a growing elderly population, and diagnostic imaging expansion.
• China: Fastest-growing market in Asia-Pacific, with major expansions by Siemens Healthineers, GE Healthcare, and Philips.

Recent Developments

• Philips (Feb 2025): Partnered with the Dutch National Growth Fund to advance RF technology, enhancing MRI speed and accuracy.
• Siemens Healthineers (Jan 2025): Began construction of a new diagnostic imaging facility in China.
• GE Healthcare (Jun 2024): Collaborated with University of Cincinnati and UC Health to innovate MRI technology.
• Siemens Healthineers (May 2024): Expanded MRI production capabilities in Oxford, focusing on cooling technology.

Key Players in the MRI Systems Market

Siemens Healthineers (Germany), GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), FUJIFILM Corporation (Japan), Canon Inc. (Japan), Fonar Corporation (US), Esaote S.p.A (Italy), Shanghai United Imaging Healthcare Co., Ltd (China), Aspect Imaging Ltd. (US), and Time Medical Holding (Hong Kong).

Conclusion

The global MRI systems market is entering a transformative phase, with advancements in AI, helium-free imaging, and non-invasive MRI-guided therapies reshaping diagnostic capabilities. While challenges such as high system costs and a shortage of skilled professionals remain, opportunities in emerging economies, along with evolving business models like MRI-as-a-Service, are set to expand accessibility.

By 2030, the MRI systems market is expected to be worth US$9.01 billion, driven by the rising burden of chronic diseases, the expanding elderly population, and continuous technological innovation.