No. of Pages: 200 | Report Code: BMIPUB00032176 | Category: Life Sciences
The BRICS magnetic resonance imaging (MRI) systems market size is expected to reach US$ 3,407.8 million by 2031 from US$ 1,969.8 million in 2024. The market is estimated to record a CAGR of 8.1% from 2025 to 2031.
The BRICS nations collectively represent a diverse and rapidly expanding market for magnetic resonance imaging (MRI) systems. This growth is fueled by a combination of factors, including rising healthcare expenditure, a growing burden of chronic diseases, and a commitment to modernizing healthcare infrastructure. However, the market dynamics and maturity vary significantly among these nations.
China and Russia, in particular, are seeing a strong push towards technological advancement. China's market is the most dynamic, with robust growth in domestic manufacturing, with local players competing with international giants. Both countries are seeing a significant demand for advanced high-field MRI systems in major urban centers and for high-level specialized care. In contrast, countries like Brazil, India, and South Africa face unique challenges and opportunities. While there is a growing demand for high-end systems in private hospitals and urban diagnostic centers, these nations also have a substantial need for more cost-effective solutions. This has led to a considerable market for low-field and refurbished MRI systems, which help to improve access in rural and underserved areas. Common challenges across the BRICS group include the high initial cost of equipment, a shortage of skilled radiologists and technicians, and a lack of consistent reimbursement policies.
Key segments that contributed to the derivation of the magnetic resonance imaging (MRI) systems market analysis are type, field strength, mobility, application, and end user.
The BRICS countries represent a key growth cluster in the MRI systems market, supported by large populations, rising prevalence of chronic and neurological diseases, and expanding access to advanced diagnostic services. China and India are leading in terms of installations and procedure volumes, driven by rapid healthcare infrastructure development, urbanization, and growing awareness of early disease detection.
Brazil is seeing steady adoption of MRI in both public and private hospitals, especially in urban centers where demand for advanced imaging is high. Russia, despite facing economic challenges, continues to expand diagnostic capacity in major cities, with increasing uptake of mid- and high-field MRI systems. While affordability and reimbursement gaps remain important barriers across these markets, government investments, local manufacturing initiatives, and partnerships with global imaging companies are gradually improving access. Overall, BRICS nations are expected to remain major contributors to global MRI market expansion in the coming years.
Based on country, the BRICS magnetic resonance imaging (MRI) systems market is segmented into Russia, Brazil, South Africa, India, China, Egypt, Indonesia, Saudi Arabia, and the UAE. China held the largest share in 2024.
China dominates the BRICS MRI landscape, supported by strong government investment, high procedural volumes, and robust local manufacturing capabilities. India follows with rapid growth, where private diagnostic centers and medical tourism drive demand, particularly for mid-field and cost-efficient systems.
Brazil is experiencing steady adoption through urban hospital networks and private providers, though regional disparities persist. Russia, with its strong public healthcare framework, continues to expand access to MRI across provincial hospitals, while also advancing high-field system adoption in research institutions. Collectively, the BRICs market demonstrates a unique balance of volume-driven demand, innovation, and accessibility challenges.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 1,969.8 Million |
| Market Size by 2031 | US$ 3,407.8 Million |
| Global CAGR (2025 - 2031) | 8.1% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | BRICS
|
| Market leaders and key company profiles |
GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Canon Inc., Koninklijke Philips N.V., HYPERFINE, INC., Esaote SPA, Shanghai United Imaging Healthcare Co., LTD, FONAR Corp., and Neusoft Medical Systems are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive in the market and offer innovative products to their consumers.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.
Business Market Insights conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include:
The BRICS Magnetic Resonance Imaging (MRI) Systems Market is valued at US$ 1,969.8 Million in 2024, it is projected to reach US$ 3,407.8 Million by 2031.
As per our report BRICS Magnetic Resonance Imaging (MRI) Systems Market, the market size is valued at US$ 1,969.8 Million in 2024, projecting it to reach US$ 3,407.8 Million by 2031. This translates to a CAGR of approximately 8.1% during the forecast period.
The BRICS Magnetic Resonance Imaging (MRI) Systems Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the BRICS Magnetic Resonance Imaging (MRI) Systems Market report:
The BRICS Magnetic Resonance Imaging (MRI) Systems Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The BRICS Magnetic Resonance Imaging (MRI) Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the BRICS Magnetic Resonance Imaging (MRI) Systems Market value chain can benefit from the information contained in a comprehensive market report.
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