The Magnetic Resonance Imaging (MRI) Systems Market, estimated at USD 22.77 Bn in 2025, is expected to exhibit a CAGR of 16.7% and reach USD 67.12 Bn by 2032.
The industry is witnessing significant growth driven by rising demand for advanced, reliable, and cost-effective medical devices across diagnostic, therapeutic, and monitoring applications. Rapid advancements in device design, digital health integration, and adoption of minimally invasive technologies are reshaping the competitive landscape. Furthermore, supportive regulatory frameworks, increasing healthcare investments, and the growing focus on patient-centric care are expected to create new growth avenues for market players.
Key market players are focusing on research and development activities in order to get product approvals from the regulatory authorities, which is driving the global magnetic resonance imaging (MRI) systems market growth. For instance, in February 2025, Esaote North America, Inc., a medical device company, announced that the U.S. Food and Drug Administration (FDA) approval of the Magnifico Open MRI, a new open whole-body MRI system now available for purchase in the U.S. Magnifico Open was designed with the user in mind through customer feedback to bridge the gap between traditional musculoskeletal imaging and whole-body imaging.
Global Magnetic Resonance Imaging (MRI) systems Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2025, as "coronavirus disease 2025" or COVID-19. This virus spreads quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding the transportation of things from one place to another.
However, COVID-19 had a positive impact on the magnetic resonance imaging (MRI) systems market, owing to the increase in the use of MRI systems by hospitals and diagnostic centers. For instance, in June 2025, according to an article published in Magnetic Resonance Imaging, an international multidisciplinary journal encompassing physical, life, and clinical science investigations in case Computed Tomography (CT) scan is not available, it is advisable to conduct a chest MRI for patients with suspected or confirmed COVID-19.
Global Magnetic Resonance Imaging (MRI) Systems Market: Key Developments
On September 26, 2023, Saluda Medical, Inc., a global medical device company revolutionizing the field of neuromodulation with an emerging portfolio of therapies driven by advanced closed-loop technologies, announced that the U.S. Food and Drug Administration (FDA) had approved MRI conditional labeling for the Evoke System, the first and only precision, dose-control spinal cord stimulation (SCS) therapy powered by SmartLoop technology.