Magnetic Resonance Imaging Market Share, Industry Overview and Market Growth Drivers


The global Magnetic Resonance Imaging market was valued at $6.2 billion in 2021. According to AMR Group, the market would reach $9.8 billion by 2031, rising at a CAGR of 4.3 percent between 2023 and 2033.

Magnetic resonance imaging (MRI) is a medical method that produces three-dimensional pictures of the human body. The MRI System operates and investigates the anatomy of the body in both healthy and pathological states using non-invasive imaging technology rather than hazardous ionizing radiation. It is beneficial for the early identification, diagnosis, and monitoring of many chronic conditions. Magnetic resonance imaging (MRI) is a technique that activates and detects changes in the proton levels in tissue fluid. It is used to detect strokes, malignancies, and other spinal disorders that affect the brain’s blood vessels.

Get a Free Sample Copy of the Report –

Magnetic Resonance Imaging Market Segmentation

Key Players

  • Aurora Imaging Technologies, Inc.
  • Barco N.V.
  • Canon Medical Systems Corporation
  • Esaote SPA
  • Fujifilm Holdings Corporation
  • GE Healthcare
  • Hitachi, Ltd.
  • Hologic Inc.
  • Koninklijke Philips N.V.
  • Nordion Inc.
  • Onex Corporation (Carestream Health)
  • Sanrad Medical Systems Pvt ltd.
  • Shimadzu Corporation
  • Siemens Healthcare
  • Toshiba Corporation

Market Dynamics

Magnetic resonance imaging (MRI) is a popular diagnostic method for detecting disorders such as tumors, strokes, and spinal ailments that affect the brain and blood vessels. The market is growing due to the increased prevalence of diseases. For example, the International Institute for Research on Cancer predicts that there will be 19,292,789 new cancer cases globally in 2020. Furthermore, the increasing need for quick and precise diagnostic procedures is expected to boost the usage of MRI equipment. However, the MRI industry is growing because of advancements in diagnostic approaches such as open MRI, visualization software, and superconducting magnets.

The bulk of recent advancements in MRI technology are software-related. Furthermore, it is expected that the development of MRI systems that are compatible with cardiac pacemakers will drive market expansion in the cardiovascular sector.

The aging population and growing rates of illnesses such as brain tumors, breast cancer, prostate cancer, scoliosis, and sclerosis are driving the growth of the MRI Systems Market. Other technological advances that have helped the industry grow include superconducting (SC) magnets, open architecture, high-field MRI, and software applications. However, the market’s growth is expected to be restricted by low MRI procedure restitution rates and a scarcity of helium gas supplies.

Regional Trend

Globally, North America leads the Magnetic Resonance Imaging market due to factors such as rising rates of chronic illness, hospital adoption of MRI systems, rising demand for MRI systems, availability of sophisticated healthcare facilities with highly qualified medical staff, presence of most major players, and rising government investment in healthcare systems. Geographically, the market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Over the forecast period of 2022 to 2031, Asia-Pacific is expected to experience significant growth. This is largely due to the region’s predicted highest growth rate, which is attributed to improvements in healthcare infrastructure, an increase in hospitals equipped with state-of-the-art medical equipment, the development of the research and development industry, an increase in healthcare reforms, and technological advancements in the sector.

Scope of the Report 

This report offers past, present as well as future analysis and estimates for the Seasonal Affective Disorder Market. The market estimates that are provided in the report are calculated through an exhaustive research methodology. The research methodology that is adopted involves multiple channels of research, such as – primary research, secondary research, and subject-related expert advice. The market estimates are calculated based on the influence of the current market dynamics along with various economic, social, and political factors on the Seasonal Affective Disorder Market. Also, various regulations, government spending, and research and development growth define the market data. Both positive, as well as negative changes to the market, are taken into consideration for the market estimates. 

Buy Now Magnetic Resonance Imaging Market Report –

About We Market Research

We Market Research is a well-established market analytics and research organization with a diverse range of industry experience. We have been working on multi-county market research since our start. Throughout our history, we have earned accolades for our thorough market research and analytical analysis of many industry segments.

Our strategic market analysis and ability to appreciate the profound cultural, philosophical, and sociological components of many complex markets have helped us establish a name for ourselves in the business. WE MARKET RESEARCH is a market leader in assisting several regional and worldwide firms in effectively achieving their business objectives via our in-depth market analysis. Furthermore, we may develop market strategies that ensure our clients have a consistent consumer base.

Contact Us

Mr. Robbin Joseph
Corporate Sales, USA
We Market Research
USA: +1-724-618-3925