Magnetic Resonance Imaging (MRI) Devices Market is expected to reach $12.25 billion by the end of 2032

The global magnetic resonance imaging (MRI) devices market size was evaluated at $7.45 billion in 2023 and is slated to hit $12.25 billion by the end of 2032, with a CAGR of nearly 6% between 2024 and 2032.

Magnetic resonance imaging devices are advanced medical systems using strong magnetic fields, radio waves, and computer processing to create clear and detailed images of the body’s internal structures without using harmful radiation. They are known for their excellent soft tissue clarity, wide clinical use, and non-invasive approach. Recent progress has focused on faster image acquisition techniques, AI-powered image reconstruction, improved patient comfort, and helium-free cooling systems. These advancements have made diagnostic workflows more efficient, shortened exam times, and lowered operating costs while keeping image quality high and expanding access to more patients. Magnetic resonance imaging devices are becoming increasingly important as the need for accurate diagnostics and personalized treatment planning continues to grow.

Browse the full “Magnetic Resonance Imaging (MRI) Devices Market By Product Type (Closed MRI and Open MRI), By Field Strength (Low-Field MRI, Ultra-High Field MRI, and High-Field MRI), By Application (Neurological Imaging, Cardiovascular Imaging, Oncological Imaging, and Musculoskeletal Imaging), By End-User (Ambulatory Surgical Units, Hospitals, and Diagnostic Imaging Units), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 - 2032”- Report at https://www.zionmarketresearch.com/report/magnetic-resonance-imaging-mri-devices-market

The growth of the global magnetic resonance imaging devices industry is primarily driven by increasing cancer incidence, which requires detailed tumor characterization, and the rising prevalence of neurological disorders, which need brain imaging.

Market Growth Factors

Several factors are propelling the expansion of the magnetic resonance imaging devices market.

• Oncology imaging demand: Cancer diagnosis and treatment monitoring require repeated high-resolution MRI scans to assess tumor size, location, and response to therapy, creating sustained demand for advanced imaging systems in specialized cancer centers.
• Neurological assessment needs: The growing burden of stroke, dementia, multiple sclerosis, and brain injuries is driving hospitals to invest in high-field MRI systems capable of detecting subtle neurological changes and vascular abnormalities.
• Sports medicine applications: Orthopedic specialists are increasingly relying on MRI technology to evaluate soft tissue injuries, cartilage damage, and ligament tears in athletes and active individuals seeking accurate diagnosis before treatment decisions.

Restraints

• High acquisition costs: Purchasing and installing MRI systems requires substantial capital investment ranging from several hundred thousand to multiple million dollars, limiting availability in resource-constrained healthcare settings and rural facilities.
• Operational expense burden: Ongoing costs, including helium refilling, maintenance contracts, specialized technician salaries, and facility modifications, create significant financial pressures affecting profitability and utilization rates.

Magnetic Resonance Imaging (MRI) Devices Market: Report Scope

Market Segmentation

The magnetic resonance imaging devices market can be segmented by field strength, architecture, application, end-user, and region.

Based on field strength, the market is divided into low-field systems, mid-field configurations, high-field machines, and ultra-high-field units. High-field machines are expected to dominate the market during the forecast period due to their optimal balance between image quality and clinical practicality for routine diagnostic applications.

Based on architecture, the magnetic resonance imaging devices market is segmented into closed-bore systems, open designs, wide-bore configurations, and extremity scanners. Closed bore systems are expected to lead the market during the forecast period due to their superior magnetic field homogeneity and established clinical validation across diverse imaging protocols.

Based on application, the magnetic resonance imaging devices industry is categorized into neurology imaging, oncology diagnostics, cardiology assessments, musculoskeletal evaluations, abdominal studies, and other specialties. Neurology imaging leads the market due to high procedure volumes and the critical role of brain imaging in neurological patient management.

Based on end-user, the magnetic resonance imaging devices market is segregated into hospitals, diagnostic imaging centers, research institutions, and specialty clinics. Hospitals lead the market as they maintain the highest equipment utilization rates and serve diverse patient populations requiring comprehensive imaging services.

North America leads the global magnetic resonance imaging devices market because of its high healthcare spending, large number of imaging centers, and strong physician preference for MRI in diagnostic procedures. The region has many established medical imaging manufacturers that follow strict regulations and focus on continuous innovation. They use superconducting magnet technology, advanced gradient systems, and powerful software platforms to deliver accurate and reliable results. Growing interest in artificial intelligence integration and shorter imaging protocols is also improving efficiency and expanding clinical applications across North America. Ongoing research collaborations between academic medical centers and device manufacturers are further enhancing imaging techniques and expanding diagnostic capabilities.

Key Market Players

Leading companies operating in the global magnetic resonance imaging devices market include:

• Hitachi Healthcare
• GE Healthcare
• Fonar Corporation
• Bruker Corporation
• Philips Healthcare
• Siemens Healthineers
• Canon Medical Systems
• Neusoft Medical Systems Co., Ltd.
• Fujifilm Holdings Corporation
• Esaote SpA.

 Recent Developments

• In April 2025, Siemens Healthineers introduced the MAGNETOM Flow, its next-generation 1.5T MRI platform. The system features a low-helium, DryCool magnet and AI-powered image reconstruction to deliver faster, more sustainable, and cost-effective MRI scans.

The global magnetic resonance imaging (MRI) devices market is segmented as follows:

By Product Type

• Closed MRI
• Open MRI

By Field Strength

• Low-Field MRI
• Ultra-High Field MRI
• High-Field MRI

By Application

• Neurological Imaging
• Cardiovascular Imaging
• Oncological Imaging
• Musculoskeletal Imaging

By End-User

• Ambulatory Surgical Units
•  Hospitals
• Diagnostic Imaging Units

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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