No. of Pages: 200 | Report Code: BMIPUB00032169 | Category: Life Sciences
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.
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.
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 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.
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.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 608.4 Million |
| Market Size by 2031 | US$ 807.29 Million |
| Global CAGR (2025 - 2031) | 4.2% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| 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 South and Central America Magnetic Resonance Imaging (MRI) Systems Market is valued at US$ 608.4 Million in 2024, it is projected to reach US$ 807.29 Million by 2031.
As per our report South and Central America Magnetic Resonance Imaging (MRI) Systems Market, the market size is valued at US$ 608.4 Million in 2024, projecting it to reach US$ 807.29 Million by 2031. This translates to a CAGR of approximately 4.2% during the forecast period.
The South and Central America 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 South and Central America Magnetic Resonance Imaging (MRI) Systems Market report:
The South and Central America 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 South and Central America Magnetic Resonance Imaging (MRI) Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Magnetic Resonance Imaging (MRI) Systems Market value chain can benefit from the information contained in a comprehensive market report.
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