Magnetic Resonance Imaging Market to Reach USD 14.7 Bn by 2035, Growing at a CAGR of 5.8% | Transparency Market Research

Rising demand for non-invasive diagnostics, increasing chronic and neurological cases, and AI-driven imaging innovations are fueling market growth.

WILMINGTON, DE, UNITED STATES, September 16, 2025 /EINPresswire.com/ -- The global magnetic resonance imaging (MRI) market was valued at US$ 7.8 Bn in 2024 and is projected to expand at a CAGR of 5.8% between 2025 and 2035, surpassing US$ 14.7 Bn by the end of 2035. Rising incidences of cancer, cardiovascular disorders, and neurological diseases such as Alzheimer’s, Parkinson’s, and stroke are driving the demand for advanced diagnostic imaging modalities. Additionally, the preference for radiation-free, patient-friendly imaging solutions continues to boost MRI adoption worldwide.

Market Overview

The MRI market covers a wide spectrum of systems and field strengths, including open and closed MRI systems, low-to-mid field, high-field, very high-field, and ultra-high field scanners. Among these, open MRI systems are gaining traction for their patient comfort features and ability to address issues of claustrophobia, pediatric compliance, and interventional accessibility.

Technological advancements such as functional MRI (fMRI), diffusion tensor imaging (DTI), and hybrid imaging technologies are enabling faster scans, superior imaging accuracy, and expanded applications in oncology, cardiology, and neurology. The growing integration of AI-driven imaging is significantly reducing scan times while enhancing diagnostic precision.

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Analyst Viewpoint

Analysts at Transparency Market Research highlight that the shift toward patient-centric imaging and precision medicine is reshaping the MRI market landscape. Leading players such as GE HealthCare, Siemens Healthineers, and Philips are focusing on high-performance scanners, portable MRI devices, and AI-based software to expand their reach and strengthen clinical value.

Meanwhile, mid-tier and regional manufacturers are making MRI more accessible in emerging economies by offering affordable systems and portable platforms designed for community-based and outpatient care. The combination of technological breakthroughs, expanding healthcare infrastructure, and rising chronic disease burden is expected to drive steady growth in MRI adoption across developed and developing markets alike.

Key Drivers of Market Growth

Rising Prevalence of Chronic and Neurological Disorders

Neurological conditions such as epilepsy, stroke, and Alzheimer’s disease, along with musculoskeletal disorders and cancers, are creating consistent demand for high-resolution brain and body imaging. MRI remains the preferred modality due to its ability to deliver superior soft-tissue contrast without ionizing radiation. The WHO estimates that more than 6.8 million deaths in 2016 were attributable to neurological disorders, underscoring the need for early and accurate diagnostics.

Technological Advancements and AI Integration

High-field (3T and 7T) scanners, AI-assisted image reconstruction, and advanced imaging techniques are transforming diagnostic capabilities. AI-enabled platforms are reducing scan times by up to 40%, optimizing hospital workflows, and lowering operational costs. Portable MRI systems are further enhancing accessibility in rural and community healthcare settings.

Focus on Patient Comfort and Experience

Open MRI systems are addressing claustrophobia and discomfort issues, improving patient compliance and diagnostic yield. With nearly 13% of patients reporting claustrophobic symptoms during scans, the adoption of open MRI systems is expected to rise significantly.

Expanding Healthcare Infrastructure and Reimbursement Policies

Investments in healthcare infrastructure in emerging economies, coupled with favorable reimbursement in developed regions, are enabling broader access to MRI technologies and supporting sustained market expansion.

Segment Analysis
By Type

Open MRI system

Closed MRI system

By Strength

Low-to-Mid Field MRI (Below 1.5T)

High Field MRI (1.5T - 3.0T)

Very High Field MRI (4.0T - 5.0T)

Ultra-High Field MRI (6.0T and above)

By Application

Musculoskeletal/Spine

Orthopedic

Head and Neck

Neurology

Cardiovascular

Abdominal and Prostate

Others (Breast, etc.)

By End-User

Hospitals

Ambulatory Surgical Centers

Diagnostic Imaging Centers

Others

Regional Insights

North America leads the global MRI market, supported by advanced healthcare infrastructure, strong reimbursement systems, and high adoption of new imaging technologies. The U.S. performs over 111 MRI exams per 1,000 population annually, one of the highest rates globally.

Europe is a significant market with Germany, the U.K., France, and Italy investing heavily in early diagnostics and precision imaging.

Asia Pacific is expected to grow rapidly, fueled by increasing healthcare expenditure, expanding diagnostic centers in China and India, and rising demand for affordable imaging systems.

Latin America and Middle East & Africa show steady growth, driven by gradual infrastructure improvements and government-led healthcare reforms.

Key Players
Prominent players shaping the MRI market include:

GE HealthCare

Siemens Healthineers

Koninklijke Philips N.V.

Canon Medical Systems

Hitachi Healthcare

Hologic Inc.

Bruker Corporation

Esaote SPA

Fujifilm Holdings Corporation

Shimadzu Corporation

Aurora Imaging Technologies, Inc.

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Neusoft Medical Systems Co., Ltd.

Toshiba Medical Systems Corporation

These companies are pursuing R&D investments, AI partnerships, and strategic collaborations with hospitals and academic centers to maintain leadership in diagnostic imaging.

Recent Developments

Polarean Imaging plc (March 2025): Expanded its Xenon MRI imaging platform in partnership with VIDA Diagnostics to support pharma-sponsored research.

Siemens Healthineers (October 2023): Entered a strategic partnership with Cardiff University to advance MRI technology, focusing on precision diagnostics and brain mapping at the CUBRIC center.

Market Trends

Increasing adoption of portable and compact MRI systems for outpatient and community use.

Growing integration of AI and machine learning algorithms to enhance imaging speed and accuracy.

Rising preference for open MRI systems to improve patient compliance.

Shift toward personalized and precision medicine, driving demand for high-resolution, functional MRI applications.

Future Outlook

The MRI market is poised for robust growth through 2035, driven by:

Rising burden of chronic and neurological diseases

Expansion of healthcare infrastructure in emerging economies

Strong adoption of AI, robotics, and high-field MRI technologies

Growing preference for patient-friendly, non-invasive imaging solutions

Companies that prioritize affordable, accessible, and AI-enabled MRI systems will be well-positioned to capture significant global market share.

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Competitive landscape and company profiles

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