PUBLISHER: Polaris Market Research | PRODUCT CODE: 1745917
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1745917
The global magnetic resonance imaging market size is expected to reach USD 12.85 billion by 2034, according to a new study by Polaris Market Research. The report "Global Magnetic Resonance Imaging Market Size, Share, Trends, Industry Analysis Report: By Architecture (Open Systems, and Closed Systems), Field Strength, Application, End Use, and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025 - 2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Magnetic resonance imaging (MRI) is a non-invasive diagnostic imaging technique that utilizes powerful magnetic fields and radio waves to generate detailed images of internal organs, soft tissues, and anatomical structures without ionizing radiation. The magnetic resonance imaging market is undergoing a robust transformation driven by rising clinical demand for advanced imaging modalities that support early disease detection, treatment planning, and precision medicine. MRI's unparalleled soft tissue contrast and evolving functional imaging capabilities are fueling its widespread adoption across a spectrum of clinical specialties, particularly in neurology, oncology, and musculoskeletal diagnostics. Technological innovation remains at the core of magnetic resonance imaging market growth, with advancements in AI-enabled image reconstruction, real-time scanning, and noise reduction techniques significantly enhancing diagnostic speed and accuracy. The industry is also witnessing increased traction in workflow automation and integration of MRI systems into digital health ecosystems, boosting magnetic resonance imaging market expansion.
A growing shift toward outpatient imaging services, rising healthcare digitization, and demand for non-invasive diagnostic tools are further contributing to evolving market dynamics. Moreover, the emergence of compact, energy-efficient MRI systems and developments in ultra-high field strength imaging present substantial Magnetic Resonance Imaging market opportunities, particularly in enhancing clinical outcomes and research applications. Strategic collaborations, AI-driven analytics, and a focus on patient-centric imaging continue to redefine competitive positioning. The convergence of innovation, clinical need, and healthcare economics positions the magnetic resonance imaging market as a critical component of modern diagnostic infrastructure, poised for sustained growth across both core clinical environments and next-generation imaging paradigms.
In terms of architecture, in 2024, the closed systems segment held the largest market share due to their superior magnetic field strength.
Based on end use, * The brain & neurological segment accounted for the largest market share in 2024 due to the high diagnostic reliance on MRI for neurodegenerative.
In 2024, the North America magnetic resonance imaging market is accounted for the largest share due to the region's well-established healthcare infrastructure, high diagnostic imaging volumes, and early adoption of advanced technologies.
The Asia Pacific magnetic resonance imaging market is projected to experience the significant growth during the forecast period driven by increasing healthcare expenditure, expanding access to diagnostic services, and rising investments in imaging infrastructure across emerging economies.
Some of the global key market players are Aurora Imaging Technologies, Inc.; Bruker Corporation; Canon Medical Systems; Esaote SPA; Fujifilm Holdings Corporation; GE Healthcare; Hitachi Healthcare (Hitachi High-Tech Corporation); Hologic Inc.; Koninklijke Philips N.V.; Shimadzu Corporation; Siemens Healthineers.
Polaris Market Research has segmented the magnetic resonance imaging market report based on architecture, field strength, application, end use and region:
By Architecture Outlook (Revenue USD Billion 2020 - 2034)
Open Systems
Closed Systems
By Field Strength Outlook (Revenue USD Billion 2020 - 2034)
Low
Mid
High
By Application Outlook (Revenue USD Billion 2020 - 2034)
Obstructive Sleep Apnea
Brain & Neurological
Spine & Musculoskeletal
Vascular
Abdominal
Cardiac
Breast
Others
By End Use Outlook (Revenue USD Billion 2020 - 2034)
Hospitals
Imaging Centers
Ambulatory Surgical Centers
Others
By Regional Outlook (Revenue USD Billion 2020 - 2034)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia-Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America