Magnetic Resonance Imaging (MRI) Market, By Product Type (Less than 0.5T MRI, 5T MRI, and 3T MRI), By Application Type (Orthopedic, Spine, Neurology, Cardiovascular, Head and Neck, Abdominal and Prostate, and Others (Breast, Vascular, Muscles, and Brain)), By Strength Type (Low-Field MRI, Mid-Field MRI, and High-Field MRI), By End Users (Hospitals, Ambulatory Surgical Centers, and Diagnostic Imaging Centers), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2030

Report Code: PMI37419 | Publish Date: March 2024 | No. of Pages: 175

Global Magnetic Resonance Imaging MRI Overview

Introduction:

MRI is also known as nuclear magnetic resonance imaging (NMRI) because it involves the nuclei of atoms. Magnetic resonance imaging is procedure in which high frequency radio waves and powerful magnet linked to a computer to obtain detailed pictures of inside body parts. MRI imaging techniques can difference between normal and diseased tissue. MRI shows better images of organs and soft tissue as compared to other imaging techniques such as computed tomography (CT) and x-ray. Magnetic resonance imaging is providing real-time and 3-D views of body parts including brain, muscles, spine, soft tissue of joints, and inside of bones. The global magnetic resonance imaging market accounted for US$ 6.15 billion in 2020 and is estimated to be US$ 8.66 billion by 2030 and is anticipated to register a CAGR of 3.5%.

Global Magnetic Resonance Imaging MRI Dynamics

Rising geriatric population, technical advancement in MRI systems

Rising geriatric population, technical advancement in MRI systems, coupled with rising health awareness amongst individuals are major factors fuelling growth of the target market. In addition, increasing adoption of MRI systems in various end-use applications such as hospitals, clinics, and diagnostic centers are factors driving growth of the global magnetic resonance imaging market. However, high cost investment of MRI systems is a key factor hindering the growth of the target market.

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Global Magnetic Resonance Imaging MRI Segmentation

The magnetic resonance imaging market has been segmented on the basis of product type, end user, application type, strength type, and region.

The product type segment includes less than 0.5T MRI, 5T MRI, and 3T MRI. On the basis of end user the global magnetic resonance imaging market has been segmented as hospitals, ambulatory surgical centers, and diagnostic imaging centers. On the basis of application type the target market has been segmented as orthopedic, spine, neurology, cardiovascular, head and neck, abdominal and prostate, and others. Others application type segment can be bifurcated as breast, vascular, muscles, and brain. On the basis of strength type segment target market has been segmented as low-field MRI, mid-field MRI, and high-field MRI.

Regional Insights:

On the basis of region the magnetic resonance imaging market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to account for the major share in terms of revenue as compared to the other regions. This is owing to advancement in healthcare facilities, rising awareness amongst individuals about health care, and growing geriatric population in the countries in the region. 

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Attribute

Details

Base year for estimation

2020

Forecast period

2020 – 2029

Market representation

Revenue in USD Million & CAGR from 2020 – 2029

Market Segmentation

By Product Type - Less than 0.5T MRI, 5T MRI, and 3T MRI

By Application – Orthopedic, Spine, Neurology, Cardiovascular, Head and Neck, Abdominal and Prostate, and Others (Breast, Vascular, Muscles, and Brain)

By Strength Type – Low-Field MRI, Mid-Field MRI, and High-Field MRI

By End-User – Hospitals, Ambulatory Surgical Centers, and Diagnostic Imaging Centers

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global magnetic resonance imaging (MRI) market report based on Product Type, Application, Strength Type, End-User and Region.

Magnetic Resonance Imaging (MRI) Market, By Region:

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

Recent Development:

  • In May 2022, Bruker has launched new Novel 7 Tesla and 9.4 Tesla Preclinical Magnetic Resonance Imaging (MRI) magnets. Newly launched MRI magnets do not require any facilitate siting and liquid helium. The new range of Maxwell 7 Tesla and 9.4 Tesla magnets offers the high field sensitivity and resolution used for advanced preclinical MRI & PET/MR research.
  • In November 2021, Fujifilm has launched the ‘Velocity MRI System’ at RSNA 2021. Newly launched product is advanced, high performance, high field scanner, and high field open MRI system. Newly launched ‘Velocity MRI System’ has unique open gantry, reconstruction technologies and integrated radiofrequency (RF) coils, and promotes fast abdominal and orthopedic imaging.
  • In November 2020, Siemens has launched its smallest and lightweight whole body Magnetic Resonance Imaging (MRI). The launch of Magnetom Free.Max is a new class of MRI system which is called as ‘High-V-MRI’. New field strength of 0.55 tesla and scanner’s unique combination of digital technologies has broaden the range of clinical applications for MRI system. It also improves pulmonary imaging with MRI and scan with accuracy.

Global Magnetic Resonance Imaging MRI Key Players

Key players operating in the magnetic resonance imaging market includes General Electric Corp., Koninklijke Philips N.V., Siemens AG., Canon Medical Systems Corp., Esaote SpA., FONAR Corp., Hitachi Ltd., Aspect Imaging Ltd., NeuSOFT Technologies Inc., and Time Medical Holding Ltd.

Global Magnetic Resonance Imaging MRI Company Profile

  • General Electric Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Koninklijke Philips N.V.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Siemens AG.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Canon Medical Systems Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Esaote SpA.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • FONAR Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Hitachi Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Aspect Imaging Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • NeuSOFT Technologies Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Time Medical Holding Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

Global Magnetic Resonance Imaging MRI Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for Magnetic Resonance Imaging (MRI) Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Product Type
      • Market Snippet, By Application Type
      • Market Snippet, By Strength Type
      • Market Snippet, By End-user
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Magnetic Resonance Imaging (MRI) Market, By Product Type, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Less than 0.5T MRI
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • 5T MRI
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • 3T MRI
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  6. Global Magnetic Resonance Imaging (MRI) Market, By Application Type, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Orthopedic
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Spine
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Neurology
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Cardiovascular
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Head and Neck
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Abdominal and Prostate
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Others (Breast, Vascular, Muscles, and Brain)
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  7. Global Magnetic Resonance Imaging (MRI) Market, By Strength Type, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Low-Field MRI
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Mid-Field MRI
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • High-Field MRI
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  8. Global Magnetic Resonance Imaging (MRI) Market, By End-user, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Hospitals
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Ambulatory Surgical Centres
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Diagnostic Imaging Centres
      • Overview
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  9. Global Magnetic Resonance Imaging (MRI) Market, By Region, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Regional Trends
    • North America
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Product Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Application Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Strength Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By End-user, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Country, 2020 – 2030
        • U.S.
        • Canada
    • Europe
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Product Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Application Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Strength Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By End-user, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Country, 2020 – 2030
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Product Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Application Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Strength Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By End-user, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Country, 2020 – 2030
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Product Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Application Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Strength Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By End-user, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Country, 2020 – 2030
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Product Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Application Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Strength Type, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By End-user, 2020 – 2030
      • Market Magnetic Resonance Imaging (MRI) and Forecast (US$ Mn), By Country, 2020 – 2030
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  10. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  11. Company Profiles
      • General Electric Corp.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
        • Business Strategies
      • Koninklijke Philips N.V.
      • Siemens AG.
      • Canon Medical Systems Corp.
      • Esaote SpA.
      • FONAR Corp.
      • Hitachi Ltd.
      • Aspect Imaging Ltd.
      • NeuSOFT Technologies Inc.
      • Time Medical Holding Ltd.
  12. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The global magnetic resonance imaging market has been segmented on the basis of product type, end user, application type, strength type, and region.

Rising geriatric population, technical advancement in MRI systems, coupled with rising health awareness amongst individuals are major factors fuelling growth of the target market.

North America is expected to account for the major share in terms of revenue as compared to the other regions.

Key players operating in the global magnetic resonance imaging market includes General Electric Corp., Koninklijke Philips N.V., Siemens AG., Canon Medical Systems Corp., Esaote SpA., FONAR Corp., Hitachi Ltd., Aspect Imaging Ltd., NeuSOFT Technologies Inc., and Time Medical Holding Ltd.