U.S. Magnetic Resonance Imaging Market Size, Share, Growth, Trends | Report 2023-2032
The U.S. magnetic resonance imaging market was valued at USD 1.70 billion in 2022 and it is predicted to surpass around USD 3.14 billion by 2032 with a CAGR of 6.34% from 2023 to 2032.
Key Pointers
| Report Coverage | Details |
| Market Size in 2022 | USD 1.70 billion |
| Revenue Forecast by 2032 | USD 3.14 billion |
| Growth rate from 2023 to 2032 | CAGR of 6.34% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Companies Covered | GE Healthcare; Siemens AG; Toshiba Corporation; Aurora Imaging Technologies, Inc.; Koninklijke Philips N.V.; Esaote SPA; Sanrad Medical Systems Pvt ltd.; Fujifilm |
Magnetic resonance imaging (MRI) scans are highly recommended for the accurate detection of abnormalities in the neurological area, musculoskeletal region, abdomen, cardiac, and breasts. The MRI scans in the U.S.is expected to grow by 18.3% by 2030 to reach a total scan volume of 33.1 million. The ongoing research to develop minimally invasive MRI systems, the introduction of AI tools to ease radiologist’s workload, and the development of MRI artifact stabilization software, are the current market trends, boosting market growth. Factors such as increased use of integrated systems (PET/MRI), precise and accurate detection of soft tissues, and rise in cancer and cardiac cases, are responsible for the market growth. GE Healthcare suggests that ~2.8 million people are diagnosed with traumatic brain injury (TBI) each year in the U.S. Thus, the need to develop MRI scanners to detect TBI is creating growth opportunities for the new entrants and top players in this market.
Introduction of AI within the MRI systems enables the reduction of MRI scan time, improves imaging efficiency, and reduce rescans. For instance, Siemens Healthineers, joined forces with Heart Vista, to introduce their AI-guided software in the MRI scanners offered by the former. The software is enabled with 510k clearance AI for one-click cardiac localization that can be incorporated within Siemens Healthineers and GE Healthcare MRIs. Thus, the incorporation of AI will allow precise image quality, improved patient satisfaction, and enhanced ability to conduct a large number of MRI scan in a day without any rescans. Thus, AI is the future in MRI scans and is responsible for the high market growth.
Due to the outbreak of COVID-19 in 2020, the market experienced a dip by ~40.0% as compared to the previous year. Reduction in diagnostic scans, decline in sales of newer MRI systems, economic setback experienced by the hospitals and diagnostic centers, fear of viral spread, lack of skilled technicians, halt in logistics, reduced production capacity due to the national lockdowns, were some major reasons for the market dip.
Studies published by GE Healthcare suggest that the patients affected during the pandemic, show lasting symptoms for the months post negative COVID-19 tests. Nearly 30.0% of the 28.0 million COVID-19 cases recorded in the U.S., experienced long-term symptoms. Thus, the use of MRI system along with other imaging modality allowed providers to monitor patients’ recovery and search for the underlying causes of lasting symptoms. This led to the increased scanning frequency using MRI, boosting the market growth post Q2 2021.
U.S. Magnetic Resonance Imaging Market Segmentations:
| By Architecture | By Field Strength | By Application | By End-Use |
|
Closed System Open System |
Low Field Strength Mid Field Strength High Field Strength |
Obstructive Sleep Apnea (OSA) Brain And Neurological Spine And Musculoskeletal Vascular Abdominal Cardiac Breast Other |
Hospitals Imaging Centers Ambulatory Surgical Centers Others |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on U.S. Magnetic Resonance Imaging Market
5.1. COVID-19 Landscape: U.S. Magnetic Resonance Imaging Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. U.S. Magnetic Resonance Imaging Market, By Architecture
8.1. U.S. Magnetic Resonance Imaging Market, by Architecture, 2023-2032
8.1.1. Closed System
8.1.1.1. Market Revenue and Forecast (2019-2032)
8.1.2. Open System
8.1.2.1. Market Revenue and Forecast (2019-2032)
Chapter 9. U.S. Magnetic Resonance Imaging Market, By Field Strength
9.1. U.S. Magnetic Resonance Imaging Market, by Field Strength, 2023-2032
9.1.1. Low Field Strength
9.1.1.1. Market Revenue and Forecast (2019-2032)
9.1.2. Mid Field Strength
9.1.2.1. Market Revenue and Forecast (2019-2032)
9.1.3. High Field Strength
9.1.3.1. Market Revenue and Forecast (2019-2032)
Chapter 10. U.S. Magnetic Resonance Imaging Market, By Application
10.1. U.S. Magnetic Resonance Imaging Market, by Application, 2023-2032
10.1.1. Obstructive Sleep Apnea (OSA)
10.1.1.1. Market Revenue and Forecast (2019-2032)
10.1.2. Brain And Neurological
10.1.2.1. Market Revenue and Forecast (2019-2032)
10.1.3. Spine And Musculoskeletal
10.1.3.1. Market Revenue and Forecast (2019-2032)
10.1.4. Vascular
10.1.4.1. Market Revenue and Forecast (2019-2032)
10.1.5. Abdominal
10.1.5.1. Market Revenue and Forecast (2019-2032)
10.1.6. Cardiac
10.1.6.1. Market Revenue and Forecast (2019-2032)
10.1.7. Breast
10.1.7.1. Market Revenue and Forecast (2019-2032)
10.1.8. Other
10.1.8.1. Market Revenue and Forecast (2019-2032)
Chapter 11. U.S. Magnetic Resonance Imaging Market, By End-Use
11.1. U.S. Magnetic Resonance Imaging Market, by End-Use, 2023-2032
11.1.1. Hospitals
11.1.1.1. Market Revenue and Forecast (2019-2032)
11.1.2. Imaging Centers
11.1.2.1. Market Revenue and Forecast (2019-2032)
11.1.3. Ambulatory Surgical Centers
11.1.3.1. Market Revenue and Forecast (2019-2032)
11.1.4. Others
11.1.4.1. Market Revenue and Forecast (2019-2032)
Chapter 12. U.S. Magnetic Resonance Imaging Market, Regional Estimates and Trend Forecast
12.1. U.S.
12.1.1. Market Revenue and Forecast, by Architecture (2019-2032)
12.1.2. Market Revenue and Forecast, by Field Strength (2019-2032)
12.1.3. Market Revenue and Forecast, by Application (2019-2032)
12.1.4. Market Revenue and Forecast, by End-Use (2019-2032)
Chapter 13. Company Profiles
13.1. GE Healthcare
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Siemens AG
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Toshiba Corporation
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Aurora Imaging Technologies, Inc.
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Koninklijke Philips N.V.
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Esaote SPA
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Sanrad Medical Systems Pvt ltd.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Fujifilm
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers