United States MRI Systems Market to Reach USD 11.72 Billion by 2033 | Strong 6.6% CAGR | North America Leads with 35% Share | Key Players: Siemens Healthineers, GE HealthCare, Philips, Canon Medical, Fujifilm

MRI Systems Market Size

The global MRI systems market reached US$ 6.24 billion in 2024 and is expected to grow to US$ 11.72 billion by 2033, expanding at a CAGR of 6.6% during the forecast period 2025-2033. The market growth is driven by the rising global burden of chronic and neurological diseases, prompting hospitals and diagnostic centers to increase adoption of MRI systems. With superior soft-tissue contrast and advanced functional imaging capabilities, MRI is becoming essential for early detection, diagnosis, and monitoring of conditions such as Alzheimer's disease, multiple sclerosis, stroke, and cancer. For instance, in the U.S., over 6.9 million people aged 65 and older were living with Alzheimer's in 2024, underscoring the need for accurate MRI-based diagnosis to track disease progression and access new therapies. This rising prevalence worldwide, particularly in Europe and aging populations across Asia, is driving investments in higher-field and specialized MRI scanners, including 3T and 7T systems, to manage increasing diagnostic demand and improve patient outcomes.

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Recent Developments:

✅ June 2025: Hyperfine, Inc. received FDA clearance for its next-generation Swoop® MRI system powered by Optive AITM software, delivering enhanced image quality, faster acquisition times, and improved usability in portable MRI applications.

✅ July 2025: Philips received FDA 510(k) clearance for SmartSpeed Precise, an integrated dual-AI deep learning reconstruction software that accelerates scan times up to three times while providing significantly sharper images across its 1.5T and 3.0T MRI platforms.

✅ June 2025: Siemens Healthineers obtained FDA clearance for the Magnetom Flow.Ace, its first helium-free 1.5 T MRI scanner, featuring AI-assisted workflow automation and improved image quality, reducing reliance on helium and expanding usability across clinical and veterinary applications.

✅ January 2025: InkSpace Imaging's 24-channel MRI coil received FDA clearance, enhancing spatial resolution, workflow efficiency, and patient comfort for 1.5 T systems, particularly those from Siemens Healthineers.

✅ January 2025: India's Time Medical International Ventures (a Fischer Medical arm) received a license from the CDSCO to manufacture MRI systems locally, enabling production of multiple 1.5 T and 0.35 T scanners and supporting regional diagnostic capacity expansion.

Mergers & Acquisitions:

✅ November 2025: GE HealthCare announced plans to acquire Intelerad Medical Systems for approximately US$ 2.3 billion, expanding its footprint in medical imaging software and outpatient diagnostic solutions as part of a broader strategy to enhance its imaging portfolio and recurring revenue streams.

✅ September 2025: GE HealthCare agreed to acquire icometrix, a provider of AI-powered brain MRI analysis software, to strengthen its neurology portfolio and integration of advanced quantitative imaging tools with its MRI systems.

✅ May 2023: Siemens Healthineers and CommonSpirit Health jointly acquired Block Imaging, a U.S.-based provider of refurbished medical imaging equipment and services, to expand sustainable imaging solutions and multi-vendor support in hospitals and care facilities.

Key Players:
Siemens Healthineers | GE HealthCare | Philips Healthcare | Canon Medical Systems | Fujifilm Healthcare | United Imaging Healthcare | Mediso Ltd | IMRIS Imaging, Inc

Key Highlights:

• Siemens Healthineers - Holds a 18.2% share, driven by its advanced MRI platforms, including 1.5T and 3T systems, AI-assisted workflow automation, and helium-free scanners that improve efficiency and sustainability.

• GE HealthCare - Holds a 17.5% share, supported by high-field MRI systems, AI-enabled imaging software, and strategic acquisitions like Intelerad Medical Systems and icometrix to strengthen diagnostic and neurology portfolios.

• Philips Healthcare - Holds a 15.8% share, fueled by innovations such as SmartSpeed Precise, AI-powered deep learning reconstruction, and 1.5T and 3T MRI scanners that reduce scan times and enhance image quality.

• Canon Medical Systems - Holds a 12.6% share, driven by its high-field MRI solutions, advanced imaging software, and focus on patient comfort and workflow efficiency.

• Fujifilm Healthcare - Holds a 10.4% share, supported by its hybrid and open MRI systems, advanced imaging applications, and focus on affordable, high-quality diagnostic solutions.

• United Imaging Healthcare - Holds a 9.2% share, fueled by rapid expansion in global markets, high-field MRI scanners, and AI-enabled imaging platforms for neurology and oncology.

• Mediso Ltd - Holds a 5.7% share, supported by its compact and hybrid MRI systems, preclinical imaging solutions, and specialized applications for research and clinical use.

• IMRIS Imaging, Inc. - Holds a 4.6% share, driven by intraoperative and specialized MRI solutions designed for surgical applications, neurology, and precision imaging.

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Market Segmentation:

➥By Product Type: Closed MRI systems dominate the market with a 65% share, owing to their high-field capabilities, superior image quality, and widespread adoption in hospitals and diagnostic centers. Open MRI systems hold a 35% share, preferred for claustrophobic and pediatric patients, offering better patient comfort and flexibility despite lower field strength.

➥By Strength: 1.5T MRI systems lead the market with a 40% share, balancing high image quality and operational cost-effectiveness. 3T systems account for 30%, driven by demand for high-resolution imaging in neurology and oncology. Systems with 3T systems represent 15%, catering to research centers and advanced clinical diagnostics requiring ultra-high-field imaging.

➥By Application: Neurological applications dominate with a 35% share, fueled by the rising prevalence of Alzheimer's, multiple sclerosis, stroke, and brain tumors. Musculoskeletal imaging follows with a 20% share, addressing orthopedic conditions and sports injuries. Cardiovascular applications hold 15%, abdominal & pelvic imaging accounts for 12%, breast imaging represents 10%, and other applications-including oncology and research imaging-contribute 8%.

➥By End-User: Hospitals are the primary end-users with a 55% share, leveraging MRI for multi-specialty diagnostics and inpatient care. Imaging centers account for 30%, driven by outpatient diagnostic demand and regional access. Ambulatory surgical centers represent 15%, utilizing MRI for preoperative planning, intraoperative guidance, and minimally invasive procedures.

Regional Insights:

North America dominates the MRI systems market with a 35% share, driven by advanced healthcare infrastructure, high adoption of high-field MRI systems, and strong investments in diagnostic imaging technologies. The U.S. leads the region due to increasing prevalence of neurological and chronic diseases, widespread deployment of 1.5T and 3T MRI systems, and growing demand for early detection and precision diagnostics.

Europe holds a 30% share, supported by well-established healthcare systems, aging populations, and regulatory initiatives promoting advanced diagnostic imaging. Countries such as Germany, France, and the UK are investing heavily in high-field MRI scanners, AI-assisted imaging, and specialized applications for neurology, oncology, and cardiovascular diagnostics.

Asia-Pacific is the fastest-growing market, accounting for a 25% share with a projected CAGR of over 7% during 2025-2033. Growth is fueled by rising prevalence of chronic and neurological diseases, increasing healthcare expenditure, expanding hospital infrastructure, and government initiatives to improve access to advanced diagnostics in countries like China, India, Japan, and South Korea.

Latin America, Middle East & Africa (LAMEA) contribute a 10% share, with growth driven by increasing awareness of advanced diagnostic imaging, gradual modernization of healthcare infrastructure, and expansion of MRI installations in urban centers. Key markets include Brazil, Mexico, South Africa, and the UAE, where high unmet demand for accurate diagnostics is supporting adoption of MRI systems.

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Market Dynamics:

Drivers
The growing demand for early disease diagnosis is significantly driving the MRI systems market. As healthcare providers and patients increasingly prioritize detecting illnesses at an earlier stage, there is a surge in demand for imaging technologies that provide high-resolution, non-invasive, and detailed anatomical and functional information. MRI systems are particularly well-suited for this need, as they can detect subtle tissue changes and early disease markers before symptoms appear, enabling timely interventions and improved patient outcomes. Hospitals and imaging centers are increasingly installing advanced 3T and 7T MRI scanners to screen for small brain lesions in multiple sclerosis, early-stage tumors in oncology, and other critical conditions, which directly boosts the adoption of new MRI systems and upgrades of existing equipment globally.

Restraints
The high cost of MRI systems and their installation remains a major constraint on market growth. A new 3-Tesla MRI scanner can cost between USD 1-3 million, with installation and facility modifications such as magnetic shielding, structural reinforcement, specialized power supply, and cryogenic cooling systems adding an additional 20-30% to the total investment. Furthermore, annual maintenance, servicing, operational expenses, energy consumption, staffing, and contrast agents can range from USD 70,000-150,000+, depending on system complexity. These substantial upfront and recurring costs limit adoption, particularly among smaller hospitals and healthcare facilities in developing regions.

Trends
The MRI systems market is witnessing several notable trends, including a shift toward AI-enabled and deep learning reconstruction technologies, which reduce scan times, improve image clarity, and enhance workflow efficiency. There is increasing adoption of high-field and ultra-high-field MRI scanners (3T and 7T) for neurology, oncology, and cardiovascular applications. Integration of hybrid imaging modalities such as PET/MRI and functional MRI is gaining traction for precise diagnostics. Additionally, patient-centric designs, such as open and wide-bore MRI systems, are becoming popular to improve comfort, reduce claustrophobia, and expand usability for pediatric and bariatric patients. Sustainability and operational efficiency are also influencing procurement decisions, with helium-free MRI systems and energy-efficient technologies trending in the market.

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