Magnetic Resonance Imaging Market to Reflect Robust Expansion During 2022-2030: Grand View Research Inc.

 Magnetic Resonance Imaging Market Growth & Trends

The global magnetic resonance imaging market size is expected to reach USD 9.0 billion by 2030, registering a CAGR of 7.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growing prevalence of chronic diseases and increasing demand for early diagnostic techniques are the factors expected to drive the market growth.

In addition, the growing adoption of less invasive procedures is also contributing to the growth of the market. Moreover, the growing number of clinical trials to understand the effectiveness and efficiency of MRI machines in various clinical applications is also expected to boost the market growth. End-users such as research institutes and universities are frequently studying the efficiency of MRI devices with high field strength such as 7T, 10T, and 10.5T.

The growing number of research studies will help in unlocking the potential usage and advantages of high-field MRI machines for various preclinical as well as clinical applications. Currently, 7T MRI machines are only effective in brain and knee imaging, largely due to the absence of the advanced coil required for these high-field machines. Therefore, the development of advanced coils to expand the application of 7T MRI machines is expected to propel market growth during the forecast period.

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Magnetic Resonance Imaging Market Highlights

• The adoption of advanced imaging technologies is augmenting the growth of the MRI market
• The open system is anticipated to be the fastest-growing segment during the forecast period due to its efficiency to accommodate all sizes of patients without feeling claustrophobic
• MRI for neurological and brain disorders dominated the market largely due to the growing number of neurological conditions and increasing demand for the less invasive diagnostic procedure
• The high-field MRI segment is expected to experience the fastest growth largely due to its efficiency to provide detailed images for diagnosis
• Imaging centers are expected to exhibit the highest growth rate during the forecast period. Government initiatives to improve primary care is one of the major factors impacting the segment growth
• In 2021, North America dominated the global space with the largest revenue share owing to continuous research and high adoption of advanced techniques in the region
• Asia Pacific is anticipated to grow at the fastest growth rate largely due to the growing number of clinical studies in the region for high-field MRI machines

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Magnetic Resonance Imaging Market Segmentation

Grand View Research has segmented the global magnetic resonance imaging market based on architecture, field strength, application, end-use, and region:

Magnetic Resonance Imaging Architecture Outlook (Revenue, USD Million, 2018 - 2030)

• Closed System
• Open System

Magnetic Resonance Imaging Field Strength Outlook (Revenue, USD Million, 2018 - 2030)

• Low Field Strength
• Mid Field Strength
• High Field Strength

Magnetic Resonance Imaging Application Outlook (Revenue, USD Million, 2018 - 2030)

• Obstructive Sleep Apnea (OSA)
  • Low Field Strength
  • Mid Field Strength
  • High Field Strength
• Brain and neurological
  • Low Field Strength
  • Mid Field Strength
  • High Field Strength
• Spine and musculoskeletal
  • Low Field Strength
  • Mid Field Strength
  • High Field Strength
• Vascular
  • Low Field Strength
  • Mid Field Strength
  • High Field Strength
• Abdominal
  • Low Field Strength
  • Mid Field Strength
  • High Field Strength
• Cardiac
  • Low Field Strength
  • Mid Field Strength
  • High Field Strength
• Breast
  • Low Field Strength
  • Mid Field Strength
  • High Field Strength
• Other
  • Low Field Strength
  • Mid Field Strength
  • High Field Strength

Magnetic Resonance Imaging End-Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Imaging Centers
• Ambulatory Surgical Centers
• Others

Magnetic Resonance Imaging Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • Italy
  • France
  • Spain
  • Sweden
  • Russia
  • The Netherlands
  • Austria
  • Belgium
  • Denmark
  • Norway
  • Portugal
  • Finland
• Asia Pacific
  • India
  • China
  • Japan
  • Thailand
  • South Korea
  • Singapore
  • Malaysia
  • Philippines
  • Taiwan
  • Indonesia
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar

List of Key Players in the Magnetic Resonance Imaging Market

• GE Healthcare
• Siemens AG
• Toshiba Corporation
• Aurora Imaging Technologies, Inc.
• Koninklijke Philips N.V.
• Esaote SPA
• Sanrad Medical Systems Pvt ltd
• Fujifilm

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.