Magnetic Resonance Imaging (MRI) Systems Market: The Development of Helium-Free and Portable MRI Systems to Drive Market Growth to US$ 20.33 Billion by 2031

As per the latest market research by Business Market Insights (BMI), the research report “Magnetic Resonance Imaging (MRI) Systems Market Size and Forecast (2025–2031)” forecasts how the market is set to surge 43.57% by 2031, driven by a surge in technological advancements that are reshaping the global MRI systems ecosystem. The report highlights that the push for enhanced diagnostic capabilities and improved patient experience is fueling demand for next-generation systems that incorporate artificial intelligence (AI) and higher-field strength magnets. These innovations are leading to faster scan times, superior image quality, and expanded clinical applications, from advanced neuroimaging to cardiac and oncological diagnostics.

The report forecasts the market to expand from US$ 14.16 billion in 2024 to US$ 20.33 billion by 2031, registering a robust CAGR of 5.30% over the 2025–2031 period.

The Magnetic Resonance Imaging (MRI) systems market is poised for steady growth in the coming years, driven by a convergence of technological innovation and increasing healthcare needs. This expansion is fueled by the rising prevalence of chronic conditions, such as neurological disorders, cancer, and cardiovascular diseases, which necessitate early and precise diagnosis. MRI's ability to provide high-resolution, soft-tissue images without the use of ionizing radiation makes it a preferred diagnostic tool for these applications.

Technological advancements are at the core of this market's evolution. The development of higher-field strength systems (3T and 7T) offers superior image clarity, while the integration of artificial intelligence (AI) and machine learning is revolutionizing workflows. AI-powered systems enable faster scan times, automated image analysis, and improved diagnostic accuracy, enhancing both patient throughput and clinical outcomes. Additionally, innovations like portable and helium-free MRI machines are addressing traditional challenges of high cost and infrastructure requirements, expanding access to these life-saving diagnostics in remote or underserved areas.

Overview of report findings

Market Growth

The magnetic resonance imaging (MRI) systems market is projected to grow from US$ 14.16 billion in 2024 to US$ 20.33 billion by 2031, registering a compound annual growth rate (CAGR) of 5.30% between 2025 and 2031.

The magnetic resonance imaging (MRI) systems market is growing due to increasing global prevalence of chronic conditions such as cancer, neurological disorders (e.g., Alzheimer's, Parkinson's), and cardiovascular diseases. Furthermore, integration of artificial intelligence (AI) and machine learning (ML) is also a significant driver, as it enhances workflow efficiency, reduces scan times, and improves image reconstruction.

Rising Prevalence of Neurological Disorders

The rise in neurological disorders, including Alzheimer's disease and brain tumors, is a significant driver for the MRI systems market. MRI technology is the preferred diagnostic tool for these conditions due to its exceptional ability to produce highly detailed images of the brain and nervous system without using ionizing radiation. In the case of brain tumors, MRI can precisely pinpoint the tumor's size, location, and relationship to critical brain structures, which is essential for treatment planning, whether it's surgical removal, radiation therapy, or chemotherapy.  Similarly, for neurodegenerative diseases like Alzheimer's, MRI can detect subtle changes in brain volume, particularly the shrinkage of the hippocampus, which is an early indicator of the disease. This non-invasive capability to visualize soft tissues and brain structures with remarkable clarity makes MRI an indispensable technology for early diagnosis, monitoring disease progression, and evaluating the effectiveness of new treatments for a wide range of neurological conditions.

Technological Advancements in Magnetic Resonance Imaging (MRI) Systems

Technological advancements, specifically the creation of helium-free and portable MRI systems, are a key driver for the MRI market. These new technologies are solving some of the biggest problems with traditional MRI machines. Standard MRI scanners need liquid helium to keep their magnets cool. This is a very expensive process and requires a complicated supply chain that can easily be disrupted. Since helium is a non-renewable resource, its high cost has been a major obstacle for many hospitals wanting to get an MRI machine.

Helium-free MRI systems, also called cryogen-free magnets, solve this problem. They use a sealed cooling system that only needs a small amount of helium when it's first built. This means hospitals don't need to pay for constant helium refills, which dramatically lowers costs and makes the systems easier to set up and take care of. It's also much safer because it removes the risk of a quench, where the helium quickly boils and escapes, which could be dangerous. This new technology is making MRI scanners more available to hospitals and clinics, even in distant or hard-to-reach places.

Geographic Insights

North America is the undisputed leader in the magnetic resonance imaging (MRI) systems market. The region benefits from a highly advanced healthcare infrastructure, rapid adoption of new diagnostic technologies, and a large number of skilled radiologists and technicians in both private and public sectors. High reimbursement rates and a strong public awareness of the importance of early diagnosis and treatment for various conditions, including neurological disorders and cancer, are also key drivers.

Europe holds the second-largest share of the MRI systems market, propelled by increasing acceptance of non-invasive diagnostic procedures and a strong network of established diagnostic centers. The region also benefits from ongoing innovation led by major medical device manufacturers. Key contributors to the market in Europe include Germany, France, and the UK, where there is a strong focus on advanced imaging technologies.

The Asia Pacific region is the fastest-growing market for MRI systems. This growth is a result of several factors, including a huge patient population, rapid investment in healthcare infrastructure, and improving access to advanced medical procedures in countries like China, India, and Japan. The rise of medical tourism and increasing government funding for healthcare initiatives are further boosting demand. While developed regions continue to lead in adopting new technology, Asia Pacific presents a significant opportunity for future growth by addressing the large unmet healthcare needs of its population and expanding its diagnostic capabilities.

Market Segmentation

• By type, the magnetic resonance imaging (MRI) systems market is segmented into closed MRI systems and open MRI systems. The closed MRI systems segment dominated the market in 2024.
• By field strength, the magnetic resonance imaging (MRI) systems market is segmented into low-field MRI systems, mid field MRI systems, and high & ultra-high field MRI systems. The mid field MRI systems segment dominated the market in 2024.
• By mobility, the market is segmented into fixed and portable. The fixed segment dominated the market in 2024.
• By application, the magnetic resonance imaging (MRI) systems market is segmented into neurology, oncology, cardiology, orthopedics, gastroenterology, gynecology, and other. The neurology segment dominated the market in 2024.
• By end user, the market is segmented into hospitals, specialty clinics, diagnostics imaging centers, academic & research institutes, and others. The hospitals segment held the largest share of the market in 2024.

Competitive Strategy & Development

Key Players: The magnetic resonance imaging (MRI) systems market is populated by several key players, each contributing to its growth and innovation. Some prominent players are:

1. GE HealthCare
2. Siemens Healthineers AG
3. FUJIFILM Holdings Corporation
4. Canon Inc.
5. Koninklijke Philips N.V.
6. HYPERFINE, INC.
7. Esaote SPA
8. Shanghai United Imaging Healthcare Co., LTD
9. FONAR Corp.
10. Neusoft Medical Systems

Trending Topics: Portable Magnetic Resonance Imaging (MRI) Market, Computed Tomography (CT) Devices Market, X-Ray Imaging Devices Market

Global Headlines

• “GE Healthcare Announced FDA Approval of SIGNA 7.0T – in November 2020, GE Healthcare, an American multinational medical technology company, announced U.S. FDA 510(k) clearance of SIGNA 7.0T magnetic resonance imaging (MRI) scanner.”
• “FUJIFILM Healthcare announced launch of APERTO Lucent – In July 2024, FUJIFILM Healthcare Americas Corporation, a diagnostic and enterprise imaging solutions provider, announced the U.S. launch of APERTO Lucent, a powerful open 0.4T MRI system.

Conclusion

The magnetic resonance imaging (MRI) systems market is expected to grow steadily. This is driven by the rising number of cases of chronic diseases like neurological disorders and cancer, along with a growing demand for non-invasive diagnostic methods. Technological advancements, such as the use of AI for faster scan times and the development of more affordable portable and helium-free systems, are key growth factors. However, high equipment costs and a limited number of skilled professionals in some regions could slow down market adoption. Despite these challenges, ongoing R&D and strategic partnerships among companies will sustain the market's growth.