No. of Pages: 200 | Report Code: BMIPUB00032170 | Category: Life Sciences
The Europe magnetic resonance imaging (MRI) systems market size is expected to reach US$ 6,650.77 million by 2031 from US$ 4,684.03 million in 2024. The market is estimated to record a CAGR of 5.3% from 2025 to 2031.
The European MRI systems market is a mature and highly advanced sector, driven by a combination of sophisticated healthcare systems, a growing geriatric population, and a high prevalence of chronic diseases. Countries in Western Europe, such as Germany, the UK, and France, are major markets due to their high healthcare spending and focus on cutting-edge diagnostic technology.
A key trend is the strong demand for high-field (1.5T and 3T) and even ultra-high-field MRI systems, which are increasingly adopted to provide superior image quality and faster scan times. The integration of artificial intelligence (AI) and machine learning is also a significant driver, enhancing diagnostic accuracy and streamlining workflows. However, the availability of universal health coverage in many European nations helps to make these advanced diagnostic procedures more accessible to the public.
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.
Europe represents the second-largest market for MRI systems, supported by a well-established healthcare network and strong emphasis on early disease detection. The region is characterized by a growing demand for advanced diagnostic solutions, particularly in countries such as Germany, the UK, France, and Italy, where hospitals and imaging centers are increasingly upgrading to high-field and ultra-high-field MRI systems. Government-funded healthcare systems in many European countries ensure broader access to MRI scans, though long waiting times in some regions highlight the need for additional capacity.
In addition, rising product launch and regulatory approval is also driving the growth of this market in Europe. For instance, November 2024, Hyperfine, Inc., a health technology company, announced CE approval of its latest generation of AI-powered Swoop MRI system software under the European Medical Device Regulation.
Moreover, rising investment in research activities, especially in neuroscience and musculoskeletal imaging, is creating a strong base for MRI adoption. Europe is also witnessing rising adoption of eco-friendly and helium-free MRI systems, aligning with the region’s sustainability goals. In addition, collaborations between universities, hospitals, and imaging companies are advancing innovation in hybrid and AI-integrated MRI technologies. While high system costs and strict regulatory requirements remain hurdles, continuous upgrades to imaging infrastructure and expanding applications in oncology and neurology are expected to sustain market growth across the region.
Based on country, the Europe magnetic resonance imaging (MRI) systems market is further segmented into the Germany, Italy, France, the UK, Spain, Belgium, the Netherlands, Luxembourg, Norway, Finland, Denmark, Sweden, Austria, Switzerland, Russia, Romania, Greece, Czech Republic, Portugal, Ukraine, Poland, Slovakia and Bulgaria. Germany held the largest share in 2024.
Germany dominates the European MRI systems market, supported by its advanced healthcare infrastructure, high healthcare expenditure, and strong presence of leading medical technology companies such as Siemens Healthineers and GE HealthCare. The country has a robust network of hospitals, diagnostic imaging centers, and research institutes that consistently invest in state-of-the-art MRI systems, including high-field and ultra-high-field scanners.
Increasing prevalence of chronic diseases, including neurological disorders, cancer, and cardiovascular conditions, is driving the demand for accurate and early diagnosis, further boosting MRI adoption. Germany also benefits from supportive government policies, favorable reimbursement frameworks, and initiatives promoting healthcare innovation and medical research. Integration of artificial intelligence and hybrid imaging technologies, such as PET/MRI, is enhancing imaging efficiency and diagnostic accuracy, encouraging further deployment of MRI systems.
Continuous technological advancements, including faster scan times, patient-friendly designs, and portable MRI solutions, strengthen the country's leadership in the market. Overall, Germany's combination of technological expertise, research focus, and strong healthcare infrastructure makes it the most mature and influential market for MRI systems in Europe.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 4,684.03 Million |
| Market Size by 2031 | US$ 6,650.77 Million |
| Global CAGR (2025 - 2031) | 5.3% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| 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 Europe Magnetic Resonance Imaging (MRI) Systems Market is valued at US$ 4,684.03 Million in 2024, it is projected to reach US$ 6,650.77 Million by 2031.
As per our report Europe Magnetic Resonance Imaging (MRI) Systems Market, the market size is valued at US$ 4,684.03 Million in 2024, projecting it to reach US$ 6,650.77 Million by 2031. This translates to a CAGR of approximately 5.3% during the forecast period.
The Europe 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 Europe Magnetic Resonance Imaging (MRI) Systems Market report:
The Europe 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 Europe Magnetic Resonance Imaging (MRI) Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Magnetic Resonance Imaging (MRI) Systems Market value chain can benefit from the information contained in a comprehensive market report.
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