Magnetic Resonance Imaging (MRI) Market Size is Expected to Reach USD 2,619 Million by 2034

The global magnetic resonance imaging (MRI) market size will soar from USD 6,486 million in 2025 and is anticipated to reach around USD 2,619 million by 2034, expanding a CAGR of 9.2% from 2025 to 2034. A study published by Statifacts a sister firm of Precedence Research.

Ottawa, Nov. 05, 2025 (GLOBE NEWSWIRE) -- According to Statifacts, the global magnetic resonance imaging (MRI) market size was valued at USD 1,086 million in 2024 and is predicted to be worth around USD 2,619million by 2034, growing at a CAGR of 9.2% between 2024 and 2034. Expanding applications of MRI in clinical and research settings, ongoing technological innovation in MRI hardware & software, and demand for non-invasive and high-resolution diagnostic imaging are driving the growth of the market.

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Magnetic Resonance Imaging (MRI) Market Highlights

North America led the global market in 2024 and is expected to maintain its dominance due to strong healthcare infrastructure and tech investments.
Asia-Pacific is projected to see the fastest growth from 2025 to 2034, driven by rising healthcare demands and medical advancements.
The closed system segment dominated in 2024 and is expected to retain its lead due to its safety and efficiency.
The open system segment is set to gain significant market share from 2025 to 2034, thanks to its flexibility and cost-effectiveness.
The high-field-strength segment led in 2024 and is expected to remain dominant due to superior imaging precision.
The midfield-strength segment is expected to grow significantly, offering a balance of performance and cost.
The neurology segment led in 2024 and is set to continue growing with rising neurological conditions and imaging advancements.
The musculoskeletal segment is expected to grow at the highest CAGR, driven by demand for orthopedic and sports medicine imaging.
The hospital segment dominated in 2024 and is expected to maintain its position as the key end-user.
The ambulatory surgical center segment is anticipated to grow the fastest due to increasing outpatient procedures.

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What is Magnetic Resonance Imaging (MRI)?

The magnetic resonance imaging (MRI) market refers to the production, distribution, and use of MRI, which is a non-invasive imaging technology that produces three-dimensional, detailed anatomical images. Magnetic resonance imaging is a medical imaging technique used in radiology to generate pictures of the anatomy and the physiological processes inside the body. MRI scanners use strong magnetic fields, magnetic field gradients, and radio waves to form images of the organs in the body. An MRI (magnetic resonance imaging) provides better soft tissue contrast than CT and can differentiate better between muscle, water, fat, and other soft tissue.

MRI scans are safe, versatile, and detailed, aiding in early disease detection without using harmful radiation, ensuring effective patient diagnosis. It is used to evaluate the body for a variety of conditions, including tumors and diseases of the liver, bowel, and heart. In July 2025, a cutting-edge Magnetic Resonance Imaging (MRI) research facility was inaugurated by the Indian Institute of Technology Delhi (IIT Delhi) in a move to transform biomedical research. This facility will allow innovative research in many areas across applications in MRI, including artificial intelligence (AI) in image processing. Source: New Indian Express

What are the Major Applications of Magnetic Resonance Imaging (MRI)?

Neurology: MRI is widely used to detect and monitor brain disorders such as tumors, stroke, multiple sclerosis, epilepsy, and neurodegenerative diseases like Alzheimer's and Parkinson's.
Musculoskeletal Imaging: It provides detailed images of joints, bones, cartilage, muscles, and ligaments, helping diagnose injuries, arthritis, and spinal disorders.
Cardiovascular Imaging: Cardiac MRI helps assess heart structure, function, and blood flow, and detect conditions like congenital heart defects, cardiomyopathies, and myocardial infarction.
Oncology: MRI is essential in cancer diagnosis, staging, and treatment planning by providing clear images of soft tissues, including tumors in the brain, liver, breast, and prostate.
Abdominal and Pelvic Imaging: It is used to examine organs like the liver, kidneys, uterus, ovaries, and prostate, aiding in the diagnosis of infections, tumors, and other abnormalities.
Spinal Imaging: MRI is used to assess spinal cord injuries, herniated discs, spinal tumors, and degenerative diseases like spondylosis or spinal stenosis.
Breast Imaging: Breast MRI is a powerful tool for detecting breast cancer, especially in high-risk patients or for evaluating abnormalities seen in mammograms or ultrasounds.
Functional MRI (fMRI): fMRI measures brain activity by detecting changes in blood flow, widely used in neuroscience research and pre-surgical brain mapping.
Vascular Imaging (MR Angiography): MRI can non-invasively image blood vessels to detect aneurysms, stenosis, or vascular malformations without the need for contrast dyes in many cases.
Pediatric Imaging: MRI is preferred for children due to its non-ionizing radiation, which is useful for diagnosing congenital abnormalities, developmental disorders, and tumors in pediatric patients.

Key Trends of the Magnetic Resonance Imaging (MRI) Market

Integration of Artificial Intelligence (AI): AI is increasingly being used in MRI systems to accelerate scan times, enhance image quality, and assist in automated diagnosis and reporting.
Rising Demand for High-Field and Ultra-High-Field MRI: There is growing adoption of 3T and 7T MRI systems, especially in neurology and research, due to their superior resolution and diagnostic capabilities.
Development of Portable and Point-of-Care MRI Devices: Advances in low-field MRI technology are enabling the creation of compact, mobile systems suitable for emergency, rural, and bedside applications.
Patient-Centric System Design: Manufacturers are focusing on improving patient experience through open-bore systems, noise reduction technologies, and faster scan protocols to reduce discomfort.
Market Growth in Emerging Economies: Increasing healthcare investment, growing awareness, and expanding diagnostic infrastructure are fueling MRI adoption in regions like Asia-Pacific, Latin America, and parts of Africa.

Case Study: Siemens Healthineers – Advancements in Helium-Free MRI Systems

As MRI technology continues to evolve, addressing the limitations of traditional systems, including cost and sustainability, has become a priority. A recent breakthrough by Siemens Healthineers in August 2025 introduced the first helium-free 1.5 Tesla MRI system. This marks a significant milestone in environmentally sustainable healthcare technologies while also enhancing the performance and availability of MRI equipment.

This development aligns with the growing trend in the MRI market to integrate sustainable practices and expand the reach of diagnostic imaging particularly in emerging markets where the demand for advanced imaging solutions is growing but access to traditional MRI systems is limited.

Challenge:

While MRI systems are an essential part of diagnostic imaging, several challenges have historically hindered their widespread adoption:

High operational costs due to the need for helium, an expensive and limited resource required for cooling the MRI magnets.
Environmental concerns about helium shortages and the carbon footprint associated with traditional MRI systems.
Limited accessibility in emerging economies due to the high cost and complexity of MRI installation and maintenance.

These barriers made it difficult for hospitals in resource-limited settings to invest in and maintain MRI systems, thereby limiting diagnostic capabilities and healthcare access in certain regions.

Solution:

In response to these challenges, Siemens Healthineers introduced the helium-free MRI system at the Aarthi Scans and Labs in India the first of its kind. The new system uses permanent magnets that do not require helium for cooling, significantly lowering both the operating costs and environmental impact.

Key features of this innovation include:

Helium-Free Design: By eliminating the need for helium, this MRI system offers a more sustainable solution with reduced reliance on rare resources.
Lower Operating Costs: The system’s helium-free operation reduces overall costs, making it more accessible for a broader range of healthcare providers, particularly in emerging markets.
Improved Efficiency and Performance: Despite the cost reductions, the system maintains high-resolution imaging and fast scan times, meeting the needs of both routine diagnostics and advanced research applications.
Wider Accessibility: This development increases the potential for MRI adoption in low-resource regions, where access to traditional MRI systems is often limited due to operational expenses.

Implementation:

In August 2025, Aarthi Scans and Labs, a leading radiology center in India, became one of the first diagnostic centers to adopt this helium-free MRI system. The system was integrated into their existing operations with the following steps:

Training of Technicians: Aarthi Scans received specialized training from Siemens Healthineers to ensure seamless operation and maintenance of the new MRI system.
Cost-Effective Deployment: The facility implemented the MRI system with minimal infrastructure changes, benefiting from the cost efficiency of the helium-free model.
Expansion of Services: With the reduction in operational costs, Aarthi Scans expanded its imaging services to rural areas and smaller communities, previously underserved by high-end diagnostic technologies.

Results:

Key Metric	Before (Traditional MRI System)	After Helium-Free MRI Adoption
MRI Operating Costs	High (due to helium usage)	Reduced by 30-40%
System Downtime	Occasional due to helium supply issues	Minimal downtime
Accessibility	Limited in rural and underserved areas	Expanded to rural communities
Environmental Impact	High (due to helium usage)	Zero helium dependence

Outcome:
The introduction of this helium-free MRI system has not only reduced operational costs but also expanded access to high-quality diagnostic imaging in underserved regions, allowing Aarthi Scans to perform a higher number of scans and enhance the quality of care for more patients.

Impact:

Clinical Impact

Increased Access to Diagnostic Imaging: The helium-free system has enabled diagnostic centers to offer advanced imaging to rural and underserved populations who were previously unable to access such services.
Enhanced Diagnostic Efficiency: The new MRI system provides high-resolution images and faster scanning capabilities, improving the accuracy and speed of diagnoses across a range of conditions, including neurological, musculoskeletal, and oncological diseases.

Market Impact:

Setting a New Standard in MRI Technology: Siemens Healthineers’ innovation in helium-free MRI systems is expected to spark a shift in the industry, prompting other manufacturers to explore more sustainable and cost-effective MRI solutions.
Impact on Emerging Markets: By lowering the total cost of ownership, helium-free systems are paving the way for greater MRI adoption in emerging economies, directly supporting Statifacts’ projection that MRI systems will become increasingly prevalent in regions like Asia-Pacific.

Environmental Impact:

The adoption of helium-free MRI systems aligns with the growing focus on sustainability within the healthcare industry, supporting greener practices in medical imaging while reducing reliance on rare resources.

Key Takeaways:

Sustainability and Cost Reduction: The helium-free MRI solution exemplifies how the MRI market can adapt to environmental challenges while offering cost-effective solutions for healthcare providers.
Broadening Access to Diagnostic Imaging: This innovation has made MRI technology more accessible in regions where cost constraints and resource shortages have previously limited its adoption.
Next-Gen MRI Systems: The shift toward environmentally conscious technologies like helium-free MRI will continue to drive technological innovation and market growth in the MRI space.

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Magnetic Resonance Imaging (MRI) Market Dynamics

Key Market Drivers

Rising number of accidents:

An MRI scanner is used to take images of any part of the body (e.g., legs, abdomen, joints, head, etc.) in any imaging direction. MRI provides better soft tissue contrast than CT. MRI is a highly controlled environment, which needs screened access by a highly trained professional. MRI can be extremely dangerous for patients with some metals and medical devices in their bodies. MRI plays an important role in the clearance, the ruling out of injury, of the cervical spine in the obtunded patient, only if there is abnormality of the neurological exam.

Demand for high-resolution diagnostic imaging:

High-resolution diagnostic imaging benefits include that it gives healthcare providers a better view of bones, tissues, blood vessels, and organs. Provides detailed information to help decide whether surgery is a good treatment option. It can be used to guide medical procedures, to place stents, catheters, or other devices inside the body. High-resolution imaging plays an important role in improving diagnostic accuracy across many fields of medicine. By providing accurate and detailed images, it allows healthcare professionals to detect abnormalities and diseases at earlier stages.

Key Market Restraint

Lack of skilled professionals:

Rising demand for magnetic resonance imaging (MRI), combined with an insufficiently skilled radiographer workforce, is contributing to poor working conditions. The stress, fatigue, and burnout experienced by many healthcare professionals have affected the radiography profession as well. A shortage of healthcare professionals who specialize in medical imaging can affect how patients receive care and access medical imaging services.

Key Market Opportunity

Technological advancement in diagnostic imaging:

Technological innovation in diagnostic imaging benefits include that it extends human vision into the very nature of disease and allows a new and more powerful generation of diagnosis and intervention. Medical imaging technology is rapidly evolving, offering significant innovation that enhances diagnostic accuracy and patient care. Each imaging technique uses a different technology and is suited for specific purposes. Medical imaging technologies are mostly used for medical diagnoses. AI-based diagnostic tools speed up the interpretation of complex images and also enhance the early detection of disease, which delivers better outcomes for patients.

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Medical Robot Market Scope

Report Attribute	Key Statistics
Market Size in 2024	USD 1,086 Million
Market Size in 2025	USD 6,486 Million
Market Size in 2031	USD 8,350 Million
Market Size by 2034	USD 2,619 Million
CAGR 2025-2034	9.2%
Leading Region in 2024	North America
Fastest Growing Region	Asia Pacific
Base Year	2024
Historical Year	2018 - 2024
Forecast Period	2025 to 2034
Quantitative units	Revenue in USD million and CAGR from 2025 to 2034
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered	By Product, By Field Strength, By Application, By End User, and By Region
Regional analysis	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Leading Players	Siemens Healthcare GmbH, Koninklijke Philips N.V., Toshiba Cooperation, GE Healthcare, Hitachi Medical Systems, Esaote SpA, Sanrad Medical Systems Pvt. Ltd., Aurora Imaging Technologies, Inc., Fujifilm Holdings Corporation, Canon Medical Systems Corporation, AllTech Medical Systems, and Others.

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Magnetic Resonance Imaging (MRI) Market Segmentation

Product Insights

Which Product Dominates the Magnetic Resonance Imaging (MRI) Market?

The closed system segment dominated the market in 2024. As compared to an open system, a closed MRI machine or system is more effective at diagnosing a larger range of problems due to the higher quality images it produces, due to its stronger magnetic field. Closed-bore MRIs are generally the most expensive option in terms of purchase price, installation, and maintenance. They generally offer the most advanced imaging capabilities.

The open system segment will gain a significant share of the market over the studied period of 2025 to 2034. Open MRI systems are less enclosed than a closed MRI, can offer cost benefits, produce fewer artifacts, cause fewer side effects, are more advanced, promote equity, allow a technician to tilt them, are more child-friendly, and quieter than a closed MRI. It also includes benefits like flexible positioning, detects many conditions, accurate imaging quality, superior patient accessibility, and increased comfort.

Field Strength Insights

Which Field Strength Leads the Magnetic Resonance Imaging (MRI) Market?

The high-field-strength segment led the market in 2024, due to its ability to improve the sensitivity of MR enough to open up applications involving spectroscopic analysis of metabolites like ¹H and ³¹P. With the higher field strength comes a greater SNR. The higher signal greatly improves temporal, spatial, and contrast resolution as compared with low-field strength units. A higher magnetic field is expected to afford higher spatial resolution or a decrease in the length of the total scan time due to its higher signal intensity.

The midfield strength segment is predicted to witness significant growth in the market over the forecast period. Midfield strength costs generally cost less and have reduced sitting needs, allowing them to be used for new applications and in new settings. It has a higher signal-to-noise ratio than a low field strength system.

Application Insights

What Made Neurology Lead the Magnetic Resonance Imaging (MRI) Market?

The neurology segment led the market, as healthcare providers need brain MRIs for many different reasons, including to help diagnose new neurological conditions or to monitor existing conditions. MRI exams are mainly useful in diagnosing neurological disorders, as they can provide detailed images of the brain and spinal cord. MRI can differentiate between grey matter and white matter and can also be used to diagnose aneurysms and tumors.

The musculoskeletal segment is anticipated to grow with the highest CAGR in the market during the studied years. The role of MRI in musculoskeletal imaging includes the ability to non-invasively display high-resolution anatomy images with unparalleled tissue contrast. This has made MRI a primary imaging technology for detecting failure in soft tissues like ligament, meniscal, and tendon tears, and in occult bone injuries.

End-user Insights

How Hospital Segment Dominated the Magnetic Resonance Imaging (MRI) Market?

The hospital segment dominated the market during 2024. Hospitals do an MRI in which the brain, spinal cord, nerves, tendons, ligaments, and muscles are seen much more clearly than with regular CT and X-rays. A hospital is a conducive place for people who need treatment for their illness. It also plays a big role in the community. Hospital management systems digitize and centralize operations, including efficiency and patient care.

The ambulatory surgical center segment is anticipated to grow with the highest CAGR in the market during the studied years. Ambulatory surgical centers (ASCs) are reshaping healthcare by offering patients a safer, faster, and more affordable alternative to hospitals, delivering same-day surgeries with high-quality outcomes and personalized care. ASCs are generally smaller than hospitals and are focused solely on surgery, which allows for a more effective use of resources.

Regional Insights

North America Magnetic Resonance Imaging (MRI) Market Trends

North America dominated the global market in 2024 due to the rising number of accidents, technological innovation in MRI systems, rising awareness about early diagnosis, increasing senior population, increasing clinical & research applications, and rising chronic diseases globally in the region. The well-established healthcare infrastructure in countries like the U.S. and Canada is fostering this growth. The robust focus on technological advancements driven by increased neurological disorders is solidifying the regional position in the global market. Additionally, the growing demand for accurate diagnosis and monitoring for Alzheimer’s and Parkinson’s conditions, driven by the elderly population, is expected to lead to significant innovations in magnetic resonance imaging (MRI) devices.

The U.S. dominates the regional market due to its advanced healthcare infrastructure, high healthcare expenditure, and strong presence of leading MRI manufacturers and research institutions. The country benefits from the rapid adoption of cutting-edge MRI technologies, including high-field and AI-enabled systems, supported by substantial investments in medical imaging research and development. Additionally, favorable reimbursement policies, a large pool of skilled radiologists and technicians, and increasing demand for early and accurate disease diagnosis contribute to robust market growth. Together, these factors position the U.S. as the key driver of MRI innovation and adoption within North America.

According to a report published in November 2024, the volume of MRI scans continues to grow annually, with current estimates ranging from 100-150 million scans worldwide. The United States performs nearly 40 million of these scans, and other developed nations show significant and varying usage rates. Source: Collective Minds

Asia Pacific Magnetic Resonance Imaging (MRI) Market Trends

The Asia Pacific is projected to host the fastest-growing market in the coming years due to ongoing innovation in MRI technology, primarily in software and hardware, a growing & aging global population, the rising prevalence of chronic diseases, demand for non-invasive diagnostics, increased healthcare spending & infrastructure, and expanding applications in the region.

The existing healthcare infrastructure and increasing availability of disposable income in countries like China and India are fueling demand for advanced medical devices, including magnetic resonance imaging (MRI). Asia Pacific has witnessed rapid growth in the prevalence of chronic diseases like neurological and cardiovascular conditions. The government initiatives in enhancing access and affordability of cutting-edge medical devices and healthcare facilities are contributing to increasing the adoption of MRIs in the Asian healthcare infrastructure.

In August 2025, a significant milestone in sustainable medical imaging with the launch of India’s first helium-free 1.5 Tesla MRI system for Siemens Healthineers was achieved by Aarthi Scans and Labs, a leader in radiology and pathology. This advanced solution positions Arthi Scans at the forefront of sustainable healthcare, offering diagnostic centers a pathway to long-term efficiency while maintaining environmental responsibility and the highest standards of patient care. Source: Bio Spectrum India

China is dominating the regional market due to its rapidly expanding healthcare infrastructure, growing population, and increasing government investments in medical technology. The rising prevalence of chronic diseases and growing awareness about early diagnosis are driving demand for advanced imaging solutions like MRI. Additionally, China’s focus on improving healthcare accessibility in both urban and rural areas, coupled with increasing adoption of technologically advanced and cost-effective MRI systems, fuels market growth.

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Top Companies in the Magnetic Resonance Imaging (MRI) Market

Top Companies in the Magnetic Resonance Imaging (MRI) Market.png

Fujifilm - offers advanced MRI systems with a focus on open design and imaging software to enhance patient comfort and diagnostic accuracy.
Sanrad Medical Systems Pvt Ltd - provides cost-effective refurbished MRI systems from global brands along with installation and support services.
Esaote SPA - specializes in dedicated musculoskeletal MRI systems that are compact, open, and tailored for orthopedic imaging.
Koninklijke Philips N.V. - delivers cutting-edge MRI technology with AI integration and patient-friendly design for precise diagnostics.
Aurora Imaging Technologies, Inc. - develops MRI systems dedicated to breast imaging, offering high-resolution, 3D bilateral scans.
Toshiba Corporation (now Canon Medical Systems) - offers MRI systems known for quiet scanning, image quality, and patient comfort.
Siemens AG - provides a comprehensive MRI portfolio featuring high-field systems with AI-enhanced imaging for advanced clinical use.
GE Healthcare - offers versatile MRI solutions with deep learning technology to improve image quality and scanning efficiency.

Recent Developments

In July 2025, a cutting-edge Magnetic Resonance Imaging (MRI) research facility, established under the Institute of Eminence (IoE) initiative, was inaugurated at the Indian Institute of Technology Delhi (IIT Delhi). This facility was designed to foster unrestricted innovation in medical imaging, mainly in Magnetic Resonance Imaging (MRI). Source: Medical Dialogues
In November 2024, an AI-based MRI system was launched by Canon Medical USA. The inclusion of AI in MRI systems speeds up scans and improves image resolution. The company also installed its Altivity suite of AI tools that help to improve image quality and reduce scan times. Source: Medical Device

Segments Covered in the Report

By Product

Open System
Closed System

By Field Strength

Low Field Strength
Mid Field Strength
High Field Strength

By Application

Neurology
Cardiology
Gastroenterology
Musculoskeletal
Body Imaging
Other Applications

By End User

Hospitals
Ambulatory Surgical Centers
Others

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

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