Magnetic Resonance Imaging (MRI) Market Overview 2022 - 2032
The global magnetic resonance imaging (MRI) market was valued at around US$ 7.9 Bn at the end of 2021. The market is projected to register a 5.2% CAGR and top a valuation of US$ 13.6 Bn by 2032.
“Rising demand for MRI system, increasing adoption rate and recent advancements in MRI technology is expected to uplift the magnetic resonance imaging (MRI) market growth.”
Magnetic resonance imaging (MRI) is a medical procedure, that develops three-dimensional images of the body. The MRI System uses non-invasive imaging technology rather than harmful ionizing radiation to function and investigate the anatomy of the body in both healthy and diseased conditions. It is useful for the early detection, diagnosis, and treatment monitoring of many chronic diseases. Magnetic resonance imaging (MRI) is based on technology that activates and detects alterations in the proton present in the tissue fluid. It is used to identify strokes, cancers, and other spinal abnormalities that damage the brain's blood arteries.
Attributes
Details
Magnetic Resonance Imaging (MRI) Market Value in 2021
US$ 7.9 Bn
Magnetic Resonance Imaging (MRI) Market Value in 2032
US$ 13.6 Bn
Magnetic Resonance Imaging (MRI) Market CAGR (2022-2032)
5.2%
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What are the Major Drivers Boosting the Demand for Magnetic Resonance Imaging (MRI) Market?
The quick and efficient diagnostic processes and increasing demands for MRI systems technology are projected to drive the growth of the MRI market.
The key element fuelling this market's growth is the rising prevalence of chronic diseases and the expanding use of diagnostic services. Additionally, the ability of magnetic resonance imaging (MRI) to diagnose various conditions early, such as cardiovascular and orthopaedic significantly boosts the success rates of the therapy, which further promotes its acceptance around the world and speeds up the market's expansion.
The adoption rate is also rising as a result of the ageing population, which is more vulnerable to certain medical problems. Future expansion of the magnetic resonance imaging (MRI) market's growth rate will be facilitated by growing public awareness of the advantages of early diagnosis and the introduction of pacemakers that are MRI-compatible. Additionally, the government initiatives and the rising healthcare industry to improve access to high-quality healthcare facilities are anticipated to drive market expansion.
Which Region Shows Strong Growth Potential in the Magnetic Resonance Imaging (MRI) Market?
The magnetic resonance imaging (MRI) market is broadly divided into seven major regions, North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
North America is the leading region in the global magnetic resonance imaging (MRI) market owing to the better awareness among people about health care and the latest advanced healthcare technologies in the region.
Apart from North America, the European magnetic resonance imaging (MRI) market is also expected to display lucrative growth in the projected years. increasing disposable income
The East Asian region is predicted to show lucrative growth owing to the growing geriatric population and rising prevalence of chronic diseases.
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Who are the Key Players in the Magnetic Resonance Imaging (MRI) Market?
Siemens Healthcare GmbH, Koninklijke Philips N.V., Toshiba cooperation, GE healthcare, Hitachi Medical systems, Esaote SpA, Sanrad Medical Systems Pvt. Ltd, Aurora Imaging Technologies, Inc., Fujifilm Holdings Corporation, Canon Medical Systems Corporation, AllTech Medical Systems.
Scope of Report
Report Attributes
Details
Growth Rate
CAGR of 5.2% 2022-2032
Base Year for Estimation
2021
Historical Data
2012-2021
Forecast Period
2022-2032
Qualitative Units
Revenue in USD Billion, Volume in Units, and CAGR from 2022-2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segment Covered
Product
Field Strength
Application
End User
Region
Region Covered
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa
Key Countries Profiled
U.S
Canada
Brazil
Mexico
Germany
U.K
France
Spain
Italy
China
Japan
South Korea
Malaysia
Singapore
Australia
New Zealand
GCC
South Africa
Israel
Key Players
Siemens Healthcare GmbH
Koninklijke Philips N.V.
Toshiba cooperation
GE healthcare
Hitachi Medical systems
Esaote SpA
Sanrad Medical Systems Pvt. Ltd
Aurora Imaging Technologies,Inc.
Fujifilm Holdings Corporation
Canon Medical Systems Corporation
AllTech Medical Systems
Customization
Available Upon Request
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Key Segments Covered in the Magnetic Resonance Imaging (MRI) Market Report
By Product:
Open system
Closed system
By Field Strength:
Low Field Strength
Mid Field Strength
High Field Strength
By Application:
Neurology
Cardiology
Gastroenterology
Musculoskeletal
Body Imaging
Other Applications
End User:
Hospitals
Imaging Centers
Ambulatory Surgical Centers
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
The Middle East and Africa (MEA)
Frequently Asked Questions
The global magnetic resonance imaging (MRI) market is anticipated to register a CAGR of 5.2% during the forecast period.
The global magnetic resonance imaging (MRI) market is projected to be about US$ 13.6 Bn by the end of year 2032.
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