Magnetic Resonance Imaging (MRI) Equipment Market size is estimated to be USD 5.8 Billion in 2024 and is expected to reach USD 9.3 Billion by 2033 at a CAGR of 5.5% from 2026 to 2033.
The global Magnetic Resonance Imaging (MRI) equipment market size was valued at approximately USD 7.2 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of around 5.5% from 2023 to 2030. The market growth is driven by increasing demand for advanced imaging techniques, rising incidences of chronic diseases, and growing awareness about the benefits of early diagnosis. MRI systems, known for their non invasive and high resolution imaging, are expected to play a significant role in diagnosing various conditions, such as neurological disorders, cancer, and musculoskeletal diseases. The rising preference for MRI scans over traditional imaging methods like X rays and CT scans is further fueling the market expansion. Additionally, the increasing healthcare investments and technological advancements, such as the introduction of portable and open MRI machines, are likely to contribute to market growth in the coming years.
In terms of regional analysis, North America held the largest share of the MRI equipment market in 2022, accounting for approximately 40% of the global market. The presence of advanced healthcare infrastructure, higher adoption rates of MRI systems, and the rising prevalence of chronic diseases in the region have contributed to its dominance. Europe follows closely, holding a substantial market share due to the regions advanced healthcare systems and high healthcare expenditure. The Asia Pacific region, however, is expected to witness the fastest growth in the MRI equipment market, driven by improving healthcare facilities, rising disposable income, and the growing adoption of advanced diagnostic tools. The demand for MRI equipment is also rising in Latin America and the Middle East, fueled by the increasing healthcare investments and an expanding patient base.
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Siemens
Philips
GE Healthcare
Toshiba
Hitachi
ESAOTE
SciMedix
Paramed
Neusoft
Xingaoyi
ANKE
Huarun Wandong
Alltech
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Magnetic Resonance Imaging (MRI) Equipment Market
Closed MRI Systems
Open MRI Systems
Extremity MRI Systems
Low-Field MRI Systems
Mid-Field MRI Systems
High-Field MRI Systems
Ultra-High-Field MRI Systems
Neurology
Orthopedics
Cardiology
Oncology
Musculoskeletal Imaging
Hospitals
Diagnostic Imaging Centers
Research Institutes
Ambulatory Surgical Centers
Functional MRI (fMRI)
Magnetic Resonance Angiography (MRA)
Diffusion Tensor Imaging (DTI)
Magnetic Resonance Spectroscopy (MRS)
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Magnetic Resonance Imaging (MRI) Equipment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Magnetic Resonance Imaging (MRI) Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Magnetic Resonance Imaging (MRI) Equipment Market, By Type
6. Global Magnetic Resonance Imaging (MRI) Equipment Market, By Application
7. Global Magnetic Resonance Imaging (MRI) Equipment Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Magnetic Resonance Imaging (MRI) Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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