Global Magnetic Resonance Imaging Systems Market is Estimated to Value over USD 7 Billion by 2026 End

  • 30 Sep 2019

Global Magnetic Resonance Imaging Systems Market (MRI) is estimated to value over USD 7 billion by 2026 end and register a CAGR of over 5.4% during the forecast period 2019 to 2026.


Magnetic Resonance Imaging is a method which is a widely used diagnostic tool for ailments such as tumors, spine lesions, central nervous system disorders, tumors, and strokes which have affected the blood and brain vessels. Due to the growth of such conditions, the market has been predicted to grow exponentially. Moreover, the prevalence of chronic diseases, rising geriatric population as well as the need for diagnostic processes, both invasive and non-invasive alike, are factors which drive the global magnetic resonance imaging systems market growth. Additionally, innovations in scanning techniques such as software upgrades, open MRI systems and highly sophisticated magnets is what aids in the expansion of the global magnetic resonance imaging systems market size. Furthermore, technological enhancements of MRI systems which match the performance of cardiac pacemakers are pushing the need for such instruments.


Innovations in devices dealing with medical imaging have had a positive impact on the diagnosis as well as treatment of ailments involving cancer and cardiovascular disease. Medical techniques have demonstrated four advancements which include broadening the parameters of 3D and 4D, increasing processing speed, automating workflow, and recording images at the right place and at the right time. All these are factors have resulted in an increase of acceptance of medical imaging during the forecast time frame.


The growing volume of private and public hospitals in countries such as China and India have recorded demand for diagnostic imaging devices. The growing popularity in medical tourism, along with government-sanctioned programs in this region are recorded to propel market proliferation. However, the exorbitant costs of maintenance and servicing of MRI systems, have posed significant problems in the growth. In addition, obtaining the approval and sanctioning from strict regulatory bodies is what poses many challenges in the growth. 


The global MRI market includes several market players, prominent market players have captured significant market shares. Small scale to midsize companies are making their presence known globally owing to their standards of quality and technological advancements. 

Some of these major companies include Philips Healthcare, GE Healthcare, Canon Medical Systems, and Siemens Healthineers.


Global Magnetic Resonance Imaging Systems Market (MRI) Segmentation:

By Field Strength

  • High-Field MRI Systems (1.5t to 3t)
  • 1.5t MRI Systems
  • 3t MRI Systems
  • Low-To-Mid-Field MRI Systems (<1.5t)
  • Very-High-Field MRI Systems (4t and Above)

By Architecture

  • Closed MRI Systems

- Standard Bore MRI

- Wide-Bore MRI

  • Open MRI Systems 

By Region

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World


FutureWise Key Takeaways:

  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth


Objectives of the Study:

  • To provide with an exhaustive analysis on the global magnetic resonance imaging systems market by field strength, by architecture and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and the rest of the world
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions


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