Magnetic Resonance Imaging (MRI) Equipment Market Analysis and Forecast to 2032: By Architecture Type (Open MRI, Closed MRI Systems), Field Strength (Low-field Systems, High-field Systems, Medium-field Systems), and Region
Magnetic resonance imaging (MRI) is a type of medical imaging that uses powerful magnets and radio waves to produce detailed images of the inside of the body. MRI machines are large, expensive, and complex pieces of equipment that are found in hospitals and other healthcare facilities.
The Magnetic Resonance Imaging (MRI) Equipment Market size was USD 6.4 Billion in 2022 and is anticipated to reach USD 22.4 Billion in 2032, growing at a rate of 13.3% from 2023 to 2032.
Key Trends
The key trends in Magnetic Resonance Imaging (MRI) Equipment technology are miniaturization, improved image quality, and increased functionality.
Miniaturization: One of the key trends in MRI equipment technology is miniaturization. This trend is driven by the need for smaller and more portable devices. MRI machines have been getting smaller and more portable over the years, and this trend is expected to continue.
Improved Image Quality: Another key trend in MRI equipment technology is improved image quality. This trend is driven by the need for better diagnostic images. MRI machines are constantly getting better at producing high-quality images, and this trend is expected to continue.
Increased Functionality: A third key trend in MRI equipment technology is increased functionality. This trend is driven by the need for more versatile devices. MRI machines are constantly becoming more versatile, with new features and applications being added all the time. This trend is expected to continue.
Key Drivers
The key drivers of the Magnetic Resonance Imaging (MRI) Equipment market are the increasing prevalence of chronic diseases, the growing number of MRI procedures, the development of new and improved MRI technology, and the increasing number of MRI installations.
The prevalence of chronic diseases is a major driver of the MRI equipment market. Chronic diseases are a major cause of death and disability worldwide, and the number of people living with chronic diseases is increasing. This increase is due to the aging of the population and the increasing prevalence of risk factors for chronic diseases, such as obesity and physical inactivity.
The number of MRI procedures is also increasing. MRI is an important tool for diagnosing and monitoring a wide range of conditions, such as cancer, heart disease, and neurological disorders.
The development of new and improved MRI technology is another driver of the MRI equipment market. MRI technology is constantly evolving, and new MRI machines are being developed that offer improved image quality and shorter scanning times.
The increasing number of MRI installations is also driving the MRI equipment market. This increase is due to the growing number of procedures being performed and the increasing number of hospitals and clinics that are installing MRI machines.
Restraints & Challenges
Some of the key restraints and challenges in the global magnetic resonance imaging (MRI) equipment market are the high cost of these systems, the lack of skilled personnel to operate these machines, and the limited availability of these machines in certain parts of the world.
Additionally, some patients may experience anxiety or claustrophobia while undergoing an MRI scan, which can further hinder the growth of this market.
Market Segmentation
The Magnetic Resonance Imaging (MRI) Equipment Market is segmented by architecture type, field strength, and region. On the basis of architecture type, it is bifurcated into open MRI and closed MRI Systems. On the basis of field strength, it is classified into low-field systems, high-field systems, and medium-field systems. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and rest of the world.
Key Players
The key players in the Magnetic Resonance Imaging (MRI) Equipment Market are Barco N.V., General Electric Company (GE Healthcare), Hitachi, Ltd. (Hitachi Medical Corporation), Hologic Inc., Koninklijke Philips N.V., Nordion Inc., Onex Corporation (Carestream Health), Shimadzu Corporation, Siemens AG (Siemens Healthcare), and Toshiba Corporation.
Magnetic Resonance Imaging (MRI) Equipment Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current Magnetic Resonance Imaging (MRI) Equipment Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
- The report also covers qualitative as well as quantitative analysis of Magnetic Resonance Imaging (MRI) Equipment Market in terms of revenue ($Million).
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Magnetic Resonance Imaging (MRI) Equipment Industry.
- A thorough analysis of market trends and restraints is provided.
- By region as well as country market analysis is also presented in this report.
- Analytical depiction of the Magnetic Resonance Imaging (MRI) Equipment Market along with the current trends and future estimations to depict imminent investment pockets. The overall Magnetic Resonance Imaging (MRI) Equipment industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
- Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Magnetic Resonance Imaging (MRI) Equipment Market are also analyzed.
Table of Contents
Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques
Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market
Chapter 3. Magnetic Resonance Imaging (MRI) Equipment Market Outlook
3.1. Magnetic Resonance Imaging (MRI) Equipment Market segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.5.1. Raw Material Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or Retailers
3.6. Impact of the Russia and Ukraine War on the Magnetic Resonance Imaging (MRI) Equipment Market
Chapter 4. Economic Impact of COVID-19 on Magnetic Resonance Imaging (MRI) Equipment Market
4.1. Overall Impact of COVID-19
4.2. Impact of COVID On the Magnetic Resonance Imaging (MRI) Equipment Market
4.3. Economic Impact Analysis
Chapter 5. Magnetic Resonance Imaging (MRI) Equipment Market by Architecture Type
5.1. Market Overview
5.2. Open MRI Systems
5.2.1. Market Size and Forecast, 2022-2032 ($Million)
5.2.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
5.3. Closed MRI Systems
5.3.1. Market Size and Forecast, 2022-2032 ($Million)
5.3.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
Chapter 6. Magnetic Resonance Imaging (MRI) Equipment Market by Field Strength
6.1. Market Overview
6.2. Low-field Systems
6.2.1. Market Size and Forecast, 2022-2032 ($Million)
6.2.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
6.3. High-field Systems
6.3.1. Market Size and Forecast, 2022-2032 ($Million)
6.3.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
6.4. Medium-field Systems
6.4.1. Market Size and Forecast, 2022-2032 ($Million)
6.4.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
Chapter 7. Magnetic Resonance Imaging (MRI) Equipment Market, by Region
7.1. Overview
7.2. North America
7.2.1. Key Market Trends and Opportunities
7.2.2. North America Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.2.3. North America Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.2.4. North America Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Country, 2022-2032, ($Million)
7.2.5. The U.S.
7.2.5.1. The U.S. Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.2.5.2. The U.S. Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.2.6. Canada
7.2.6.1. Canada Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.2.6.2. Canada Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.2.7. Mexico
7.2.7.1. Mexico Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.2.7.2. Mexico Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.3. Europe
7.3.1. Key Market Trends and Opportunities
7.3.2. Europe Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.3.3. Europe Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.3.4. Europe Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Country, 2022-2032, ($Million)
7.3.5. Germany
7.3.5.1. Germany Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.3.5.2. Germany Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.3.6. France
7.3.6.1. France Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.3.6.2. France Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.3.7. U.K.
7.3.7.1. U.K. Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.3.7.2. U.K. Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.3.8. Spain
7.3.8.1. Spain Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.3.8.2. Spain Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.3.9. Italy
7.3.9.1. Italy Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.3.9.2. Italy Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.3.10. Rest of Europe
7.3.10.1. Rest of Europe Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.3.10.2. Rest of Europe Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.4. Asia-Pacific
7.4.1. Key Market Trends and Opportunities
7.4.2. Asia-Pacific Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Country, 2022-2032, ($Million)
7.4.3. Asia-Pacific Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.4.4. Asia-Pacific Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.4.5. China
7.4.5.1. China Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.4.5.2. China Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.4.6. India
7.4.6.1. India Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.4.6.2. India Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.4.7. Japan
7.4.7.1. Japan Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.4.7.2. Japan Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.4.8. South Korea
7.4.8.1. South Korea Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.4.8.2. South Korea Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.4.9. Rest of APAC
7.4.9.1. Rest of APAC Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.4.9.2. Rest of APAC Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.5. Rest of the World
7.5.1. Key Market Trends and Opportunities
7.5.2. Rest of the World Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.5.3. Rest of the World Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.5.4. Rest of the World Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Country, 2022-2032, ($Million)
7.5.5. Latin America
7.5.5.1. Latin America Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.5.5.2. Latin America Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.5.6. Middle East
7.5.6.1. Middle East Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.5.6.2. Middle East Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
7.5.7. Africa
7.5.7.1. Africa Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Architecture Type, 2022-2032, ($Million)
7.5.7.2. Africa Magnetic Resonance Imaging (MRI) Equipment Market Size and Forecast by Field Strength, 2022-2032, ($Million)
Chapter 8. Competitive Landscape
8.1. Market Overview
8.2. Market Share Analysis/Key Player Positioning
8.3. Developmental Strategy Benchmarking
8.3.1. New Product Development
8.3.2. Product Launches
8.3.3. Business Expansions
8.3.4. Partnerships, Joint Ventures, and Collaborations
8.3.5. Mergers and Acquisitions
Chapter 9. Company Profiles
9.1. Barco N.V.
9.1.1. Company Snapshot
9.1.2. Financial Performance
9.1.3. Product Offerings
9.1.4. Key Strategic Initiatives
9.1.5. SWOT Analysis
9.2. General Electric Company (GE Healthcare)
9.2.1. Company Snapshot
9.2.2. Financial Performance
9.2.3. Product offerings
9.2.4. Key Strategic Initiatives
9.2.5. SWOT Analysis
9.3. Hitachi, Ltd. (Hitachi Medical Corporation)
9.3.1. Company Snapshot
9.3.2. Financial Performance
9.3.3. Product offerings
9.3.4. Key Strategic Initiatives
9.3.5. SWOT Analysis
9.4. Hologic Inc.
9.4.1. Company Snapshot
9.4.2. Financial Performance
9.4.3. Product offerings
9.4.4. Key Strategic Initiatives
9.4.5. SWOT Analysis
9.5. Koninklijke Philips N.V.
9.5.1. Company Snapshot
9.5.2. Financial Performance
9.5.3. Product offerings
9.5.4. Key Strategic Initiatives
9.5.5. SWOT Analysis
9.6. Nordion Inc.
9.6.1. Company Snapshot
9.6.2. Financial Performance
9.6.3. Product offerings
9.6.4. Key Strategic Initiatives
9.6.5. SWOT Analysis
9.7. Onex Corporation (Carestream Health)
9.7.1. Company Snapshot
9.7.2. Financial Performance
9.7.3. Product offerings
9.7.4. Key Strategic Initiatives
9.7.5. SWOT Analysis
9.8. Shimadzu Corporation
9.8.1. Company Snapshot
9.8.2. Financial Performance
9.8.3. Product offerings
9.8.4. Key Strategic Initiatives
9.8.5. SWOT Analysis
9.9. Siemens AG (Siemens Healthcare)
9.9.1. Company Snapshot
9.9.2. Financial Performance
9.9.3. Product offerings
9.9.4. Key Strategic Initiatives
9.9.5. SWOT Analysis
9.10. Toshiba Corporation
9.10.1. Company Snapshot
9.10.2. Financial Performance
9.10.3. Product offerings
9.10.4. Key Strategic Initiatives
9.10.5. SWOT Analysis
*The list of company is subject to change during the final compilation of the report
Key Players
Market Segmentation
By Architecture Type
- Open MRI Systems
- Closed MRI Systems
By Field strength
- Low-field Systems
- High-field Systems
- Medium-field Systems
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Spain
- Italy
- Netherlands
- Sweden
- Switzerland
- Denmark
- Finland
- Russia
- Rest of Europe
- The Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Indonesia
- Taiwan
- Malaysia
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East
- Africa