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Magnetic Resonance Imaging Market Analysis and Opportunities by 2031

06-17-2025 03:08 PM CET | Health & Medicine

Press release from: The Insight Partners

Magnetic Resonance Imaging Market Analysis and Opportunities by 2031

Magnetic Resonance Imaging Market Analysis and Opportunities by 2031

The magnetic resonance imaging market size is projected to reach US$ 10.81 billion by 2031 from US$ 7.21 billion in 2023. The market is expected to register a CAGR of 5.2% in 2023-2031. Growing applications of artificial intelligence technologies serve as a key magnetic resonance imaging market trends.

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Magnetic Resonance Imaging Market Analysis

The surge in aging populations, increase in the number of people having cancer, technical advancements in the field of healthcare leading to the innovation of new and cutting-edge technologies, and growing awareness regarding the importance of early diagnosis of disease, which helps in early treatment are some factors that are expanding the market growth. An increase in investments leading to the introduction of new products and funded projects for improving MRI technologies in pediatric care are anticipated to augment the market's expansion during the forecast period.

Increasing Product Launches to Favor Market Growth

The growing number of product launches, coupled with the increasing adoption of high-strength systems, is one of the key opportunities offered to the players in the market. Technological innovations have led to the development and subsequent marketing of high-strength imaging equipment. In August 2023, Union Minister Dr. Jitendra Singh introduced India's first indigenously developed, lightweight, ultrafast, affordable, high-field (1.5 Tesla) next-generation MRI scanner in New Delhi. Under the National Biopharma Mission of the Department of Biotechnology, Bengaluru-based startup Voxelgrids Innovations Pvt Ltd has developed a compact MRI Scanner to solve the country's unmet need.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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