MRI Systems Market Forecast: $9.68 Billion by 2031 – MarketsandMarkets™
Delray Beach, FL, Sept. 09, 2026 (GLOBE NEWSWIRE) -- MarketsandMarkets™ projects the global MRI systems market will grow from USD 6.88 billion in 2026 to USD 9.68 billion by 2031, at a CAGR of 7.0% during the forecast period. Market growth is fueled by the increasing prevalence of neurological and musculoskeletal disorders, expanding geriatric population, growing incidence of chronic diseases such as cancer, increasing awareness regarding preventive healthcare, and regulatory support for innovation and favorable reimbursement policies.
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Key Market Highlights
Why This Market Matters
The MRI systems market is expanding as the global prevalence of neurological and musculoskeletal disorders continues to increase alongside a growing aging population and rising incidence of chronic diseases. MRI plays an essential role in diagnosing neurological conditions, musculoskeletal disorders, cancer, cardiovascular diseases, and other complex medical conditions. Increasing awareness regarding preventive healthcare is also shifting imaging utilization from symptom-driven diagnosis toward earlier, risk-based screening, increasing scan volumes across hospitals and diagnostic centers. Supportive regulatory policies, reimbursement improvements, and the expansion of MRI applications into intensive care and emergency/trauma settings are further supporting market growth.
Market Overview
The MRI systems market is witnessing sustained growth as hospitals, diagnostic imaging centers, and specialty clinics invest in advanced imaging technologies to address increasing diagnostic demand. The market encompasses conventional, advanced, and specialty MRI applications, supported by innovations in AI-enabled image reconstruction, faster scan workflows, helium-free MRI technologies, and portable or specialty MRI systems. Increasing healthcare accessibility, rising healthcare expenditure, growing diagnostic imaging capacity, and the expansion of imaging centers across emerging economies are further contributing to market expansion.
Analyst Perspective
The MRI industry is moving beyond conventional diagnostic imaging toward intelligent, efficient, and patient-focused imaging ecosystems. Manufacturers are increasingly integrating AI-enabled image reconstruction, automated workflow tools, helium-free technologies, faster scanning protocols, and specialized applications into their MRI portfolios. The growing demand for pediatric MRI, emergency imaging, preventive screening, and advanced neurological applications is creating new opportunities for MRI system manufacturers. Companies that successfully combine advanced imaging capabilities with reduced operating costs, workflow automation, and patient-friendly technologies are expected to strengthen their competitive positions over the coming years.
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Segment Analysis
By architecture, the MRI systems market is segmented into open MRI systems and closed MRI systems. In 2025, the closed MRI systems segment accounted for the largest market share. This dominance is attributed to the excellent image quality offered by wide-bore MRI systems and the introduction of new products by key market players. Closed MRI systems are considered the industry standard because of their high efficiency, superior image quality, and increased throughput resulting from stronger magnetic field strengths.
By design, the fixed/stationary MRI systems segment accounted for the largest market share in 2025. This segment's dominance can be attributed to its superior image quality, full-body scanning capabilities, enhanced workflow efficiency, and long-term cost-effectiveness. Fixed MRI systems typically operate at magnetic field strengths of 1.5T or 3T, providing high-resolution images with excellent soft tissue contrast. These systems also support higher patient throughput and integration with Picture Archiving and Communication Systems (PACS) and AI-driven analytics.
Regional Analysis
Asia Pacific is experiencing rapid growth, particularly in China, India, and Southeast Asia, driven by faster adoption of advanced imaging technologies, mobile and portable MRI systems, and AI-enabled workflows. The region's large patient population and increasing prevalence of chronic diseases, neurological disorders, and cancer are creating higher demand for advanced diagnostic imaging. Lower labor costs, rising capital expenditures by hospitals, increasing healthcare applications, favorable funding environments, rapid growth of the elderly population, and the establishment of diagnostic imaging centers are also contributing to regional market expansion.
Key Industry Trends
Competitive Landscape
The competitive landscape of the MRI systems market is led by established global companies including Siemens Healthineers (Germany), GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), FUJIFILM Corporation (Japan), Canon Inc. (Japan), Fonar Corporation (US), Esaote S.p.A (Italy), Shanghai United Imaging Healthcare Co., Ltd (China), Aspect Imaging Ltd. (US), and Time Medical Holding (Hong Kong).
Key manufacturers are investing heavily in research and development, focusing on helium-free designs, AI-enabled image reconstruction, faster scan workflows, and portable or specialty MRI applications. Siemens Healthineers is strengthening its portfolio through virtually helium-free MRI platforms such as MAGNETOM Flow and MAGNETOM Free, along with AI-based technologies including Deep Resolve, myExam Assist, and myExam Autopilot. GE HealthCare is advancing its helium-free MRI strategy through Freelium and expanding its portfolio with SIGNA Sprint, SIGNA Bolt, and SIGNA One. Philips is focusing strongly on helium-free MRI through its BlueSeal platform and BlueSeal Horizon 3.0T innovation.
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