Market Analysis on Magnetic Resonance Imaging Systems Devices And Equipment Industry – Insights for Corporate Strategy and R&D
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What Are the Projected Market Size and Growth Rates for the Magnetic Resonance Imaging Systems Devices And Equipment Market From 2025 To 2029?
The market size for magnetic resonance imaging systems, devices, and equipment has seen robust growth in recent years. The market is projected to expand from $10.07 billion in 2024 to $10.74 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.6%. Factors driving growth during the historic period include advancements in diagnostic imaging, an aging population, the need for trauma and emergency care, and diagnosing oncology and cancer.
What Is the Projected Market Size of the Magnetic Resonance Imaging Systems Devices And Equipment Market?
There is an anticipated consistent growth in the magnetic resonance imaging systems devices and equipment market in the upcoming years, with its value expected to reach $12.02 billion by 2029, growing at a compound annual growth rate (CAGR) of 2.9%. This expected growth within the forecasted period is due to several factors such as emerging market expansion, regulatory backing, mitigation of radiation, and value-focused healthcare. Key trends projected for this period encompass high-field and ultra-high-field MRI, cardiac MRI, musculoskeletal MRI, and hybrid imaging.
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Who are the Major Competitors in the Magnetic Resonance Imaging Systems Devices And Equipment Market Outlook?
Major companies operating in the magnetic resonance imaging systems devices and equipment market include Siemens Healthineers, GE Healthcare, Philips Healthcare, Hitachi Ltd., Canon Medical Systems, Esaote S.p.A, Bruker Corporation, Fonar Corporation, Neusoft Medical Systems Co. Ltd., Time Medical Systems, Aurora Imaging Technology, AllTech Medical Systems, Magnetica, Tomtec Imaging Systems GMBH, Sanrad Medical Systems Pvt. Ltd., Agilent Technologies Inc., Analogic Corporation, Hologic Inc, IMRIS Inc., Innervision Mri, Medinus Co., Medtronic plc, Millennium Technology Inc., Mindray Medical International Ltd., MR Solutions, Toshiba Corporation, Koninklijke Philips N.V., Hyperfine
What Is Fueling Growth in the Magnetic Resonance Imaging Systems Devices And Equipment Market?
The surge in lifestyle changes, advancements in technology, and a rise in chronic illnesses are heightening the need for diagnostics, thus propelling the expansion of the MRI systems market. MRI systems, which generate three-dimensional detailed anatomical images of the human body, aid in diagnosis, disease identification, and treatment tracking. The growing health apprehensions are escalating the need for medical imaging technologies in healthcare facilities for diagnosis. For example, India has 150,000 health and wellness centres with a $1.8 billion budget to make healthcare more reachable. The growing awareness and value of health insurance are also contributing to the substantial growth of the market.
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Which Magnetic Resonance Imaging Systems Devices And Equipment Market Segments Are Growing the Fastest?
The magnetic resonance imaging systems devices and equipment market covered in this report is segmented –
1) By Type: Close MRI, Open MRI
2) By Application: Oncology, Neurology, Cardiology, Inflamatory and Infectious Diseases, Other Applications
3) By End User: Hospitals, Imaging centers, Ambulatory surgical centers
Subsegments:
1) By Close MRI: High-field MRI, Low-field MRI, Very High-field MRI
2) By Open MRI: Open High-field MRI, Open Low-field MRI
Which Industry Trends Are Shaping the Future of the Magnetic Resonance Imaging Systems Devices And Equipment Market?
Leading businesses in the magnetic resonance imaging systems devices and equipment market are focused on creating mobile magnetic resonance imaging (MRI) scanners. The aim is to improve patient accessibility, lessen the necessity for transportation to imaging facilities, and directly offer efficient diagnostic services at the point of care. A mobile MRI scanner is a portable unit designed to provide imaging services in diverse locations beyond conventional hospital settings. The scanner operates at a field force of 1.5T, delivering high-standard imaging similar to traditional stationary systems. For example, in November 2022, MAGNETOM Viato. Mobile, a mobile MRI scanner, was launched by Siemens Healthineers AG, a Germany-based firm. With a 70 cm open bore, the scanner can cater to a broader variety of patients – including those who might feel uncomfortable in standard bore MRI systems. The MAGNETOM Viato.Mobile is equipped with features that enable remote scanning and reading, boosting operational effectiveness and enabling distant expert consultations via platforms like syngo Virtual Cockpit and WeScan.
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Which Countries Are Leading the Magnetic Resonance Imaging Systems Devices And Equipment Market?
Western Europe was the largest region in the global magnetic resource imaging devices and equipment market in 2023. North America was the second-largest region in global magnetic resource imaging devices and equipment market. The regions covered in the magnetic resonance imaging systems devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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This Report Delivers Insight On:
1. How big is the magnetic resonance imaging systems devices and equipment market, and how is it changing globally?
2. Who are the major companies in the magnetic resonance imaging systems devices and equipment market, and how are they performing?
3. What are the key opportunities and risks in the magnetic resonance imaging systems devices and equipment market right now?
4. Which products or customer segments are growing the most in the magnetic resonance imaging systems devices and equipment market?
5. What factors are helping or slowing down the growth of the magnetic resonance imaging systems devices and equipment market?
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