The South and Central America magnetic resonance imaging (MRI) systems market size is expected to reach US$ 807.29 million by 2031 from US$ 608.40 million in 2024. The market is estimated to record a CAGR of 4.2% from 2025 to 2031.
Executive Summary and South and Central America Magnetic Resonance Imaging (MRI) Systems Market Analysis:
South and Central America present a steadily expanding MRI systems market, driven by rising demand for advanced diagnostics, growing chronic disease prevalence, and increasing healthcare investments. Brazil, Argentina, Colombia, and Chile dominate regional adoption, while other nations such as Costa Rica, Panama, and Guatemala are still struggling with modern imaging infrastructure. Despite disparities in access between urban centers and rural regions, the market is strengthening through private hospital growth, government-led reforms, and partnerships with international technology providers.
South and Central America Magnetic Resonance Imaging (MRI) Systems Market Strategic Insights
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.
- 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 others. 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.
South and Central America Magnetic Resonance Imaging (MRI) Systems Market Outlook
The MRI systems market in South and Central America is growing steadily, supported by rising healthcare investments and the increasing burden of chronic and neurological diseases. Countries such as Brazil are leading the adoption, with hospitals and diagnostic centers expanding imaging capacities to meet growing patient needs. The prevalence of cancer and neurological conditions is creating higher demand for advanced diagnostic tools like MRI.
Partnerships between global manufacturers and local healthcare providers are also playing a key role, helping expand access to MRI systems in underserved regions. For instance, in November 2024, AIRS Medical, a company specializing in artificial intelligence solutions for medical imaging, partnered with IOSEI, a leading operational outsourcing provider for radiology services in Brazil, to expand the reach of its SwiftMR technology across Brazil. SwiftMR is an AI-powered solution designed to enhance the quality and efficiency of magnetic resonance imaging (MRI) scans.
While limited budgets, infrastructure gaps, and uneven access remain challenges, expanding collaborations and government initiatives to improve healthcare infrastructure are expected to support further market growth.
South and Central America Magnetic Resonance Imaging (MRI) Systems Market Country Insights
Based on country, the South and Central America magnetic resonance imaging (MRI) systems market is segmented into Brazil, Argentina, Chile, Colombia, Peru, and the Rest of South and Central America. Brazil held the largest share in 2024.
Brazil represents the largest market for MRI systems in South and Central America, driven by its well-established healthcare infrastructure and growing demand for advanced diagnostic imaging. The rising prevalence of chronic diseases, such as cardiovascular disorders, cancer, and neurological conditions, has led to increased adoption of MRI systems in hospitals, diagnostic centers, and research facilities. Investments in healthcare modernization, including upgrades of public and private imaging centers, have further fueled market growth.
Additionally, government initiatives to improve healthcare access, along with reimbursement policies for advanced imaging procedures, support MRI adoption. Technological advancements, such as high-field MRI systems and AI-assisted imaging, are increasingly being integrated, making Brazil the regional leader in MRI system deployment and utilization.
South and Central America Magnetic Resonance Imaging (MRI) Systems Market Report Highlights| Report Attribute | Details |
| Market size in 2024 | US$ 608.4 Million |
| Market Size by 2031 | US$ 807.29 Million |
| CAGR (2025 - 2031) | 4.2% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
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Regions and Countries Covered
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| South and Central America | Brazil, Argentina, Chile, Colombia, Peru |
| Market leaders and key company profiles |
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South and Central America Magnetic Resonance Imaging (MRI) Systems Market 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.
South and Central America Magnetic Resonance Imaging (MRI) Systems Market Research Methodology:
The following methodology has been followed for the collection and analysis of data presented in this report:
- Secondary Research
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:
- Company websites, annual reports, financial statements, broker analyses, and investor presentations
- Industry trade journals and other relevant publications
- Government documents, statistical databases, and market reports
- News articles, press releases, and webcasts specific to companies operating in the market
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.
- Primary Research
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:
- Refine findings from secondary research
- Enhance the expertise and market understanding of the analysis team
- Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects
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:
- Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
- External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise
South and Central America Magnetic Resonance Imaging (MRI) Systems Key Sources Referred:
- The World Bank World Development Indicators
- World Health Organization (WHO)
- Center for Disease Control and Prevention (CDC)
- American Society of Radiologic Technologists
- Society for Magnetic Resonance in Medicine (ISMRM)
- Global Cancer Observatory
- Company website
- Company annual reports
- Company investor presentations
