"Designing Growth Strategies is in our DNA"
The U.S. magnetic resonance imaging equipment market size was worth USD 1.46 billion in 2022 and is projected to grow at a CAGR of 5.3% during the forecast period.
The rising incidences of cancer and trauma cases among the U.S. population have increased the use of imaging systems such as magnetic resonance imaging equipment for disease diagnosis. Moreover, potential advantages of these systems, such as non-invasiveness and efficient imaging, are further driving device adoption across healthcare settings.
The COVID-19 pandemic had a negative impact on the market in 2020, owing to a decline in patient visits for disease diagnosis across health systems and low demand for MRI systems across the country.
Rising Adoption of 7T Magnetic Resonance Imaging Systems
The rising emphasis on product launches by major players in the high-strength segment, such as 7 Tesla systems, combined with the rising adoption of this equipment across the U.S. healthcare systems, is one of the major trends in the market.
Moreover, the clinical benefits of these devices over other systems, such as multinuclear imaging, ultra-high resolution spectroscopy, and superior imaging potential for clinical applications such as epilepsy, neurodegenerative diseases, and multiple sclerosis, further augment their adoption in the U.S. market.
Technological Advancements to Drive Market Growth
A key driving factor expected to contribute substantially to the market's growth is the increasing technological advancements in magnetic resonance imaging devices across several clinical applications. The leading market players are now focusing on introducing technologically advanced systems, such as portable and AI-powered open MRI systems, in the country, further driving the market growth.
Thus, the rising presence of advanced product launches and the increasing need for advanced medical imaging modalities across healthcare systems are fueling the U.S. magnetic resonance imaging equipment market growth.
Request a Free sample to learn more about this report.
High Costs of Systems to Hamper Market Growth
Magnetic resonance imaging equipment are associated with high installation and maintenance costs, leading to overall high ownership cost. This limits the adoption of these systems in small and mid-sized facilities owing to budgetary constraints.
Moreover, other factors, such as product recalls of imaging systems and the low sensitivity of these systems toward detection of calcifications & hemorrhages, further restrict the market growth.
In terms of strength, the market is segmented into 1.5 T, less than 1.5 T, and more than 1.5 T.
The 1.5 T segment held the highest market share in 2022, attributed to the robust presence of this equipment across the U.S. healthcare settings. Moreover, the rise in product launches of these devices by significant players across several clinical applications further boosts the market growth.
Based on application, the market is segmented into musculoskeletal, cardiology, body imaging, neurology, and others.
The musculoskeletal segment dominated the market with the highest market share in 2022 due to the large volume of musculoskeletal procedures and the high efficacy of magnetic resonance imaging equipment in soft tissue imaging. Moreover, the rise in reimbursements for musculoskeletal examinations further drove the market growth.
The market is segmented into hospitals, ambulatory surgical centers, and diagnostic centers based on end-user.
The hospitals segment held a dominant share of the market in 2022, owing to a large installed base of magnetic resonance imaging systems. Moreover, the rise in patient visits at hospital settings for disease diagnosis across the U.S., further augmented the segment share.
Presence of Diverse Magnetic Resonance Imaging Portfolio among Key Players to Help Maintain Market Dominance
The market consists of several established players in medical imaging, such as GE HealthCare, Siemens Healthineers AG, and Koninklijke Philips N.V. The established companies have a robust global presence and extensive product portfolio comprising systems of varying applications and strengths.
Moreover, rising initiatives of key players on R&D in the country and organic strategies such as collaborations for developing technologically advanced systems further propel the U.S. magnetic resonance imaging equipment market share.
Similarly, the high focus of emerging players, such as Shenzhen Anke Hi-tech Co., Ltd. and Neusoft Medical Systems Co. Ltd., on expanding their existing portfolio across the country will further augment their market growth over the forecast period.
An Infographic Representation of U.S. Magnetic Resonance Imaging Equipment Market
To get information on various segments, share your queries with us
The U.S. magnetic resonance imaging equipment market report provides a detailed market analysis. It focuses on key aspects, such as market size & market forecast, of critical regions. It also focuses on the overview of technological developments, region-wise installed base imaging system, and distributor analysis for the significant companies.
Besides this, the report offers insights into the market trends and highlights, market statistics, and key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth in recent years.
CAGR of 5.3% from 2023 to 2030
Value (USD Billion)
By End User
Fortune Business Insights says that the global market was USD 1.46 billion in 2022.
The market will exhibit steady growth of 5.3% CAGR during the forecast period (2023-2030).
The 1.5 T segment is expected to be the leading segment in this market during the forecast period.
GE HealthCare, Siemens Healthineers AG, and Koninklijke Philips N.V. are the leading players in the U.S. market.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry