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Magnetic Resonance Imaging (MRI) Equipment Market Size to Expand Significantly by the End of 2027

The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The Magnetic Resonance Imaging (MRI) equipment market is projected to grow from USD 7.56 billion in 2020 to USD 11.12 billion by 2026 at a CAGR of over 6.6% during the forecast period.

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Segment Analysis

Based on application, the global Magnetic Resonance Imaging (MRI) equipment market has been categorized into brain and neurological, spine and musculoskeletal, vascular, abdominal, cardiac, breast, others.

Among these, the brain and neurological segment garnered the highest market share of almost 24% in 2020 as scans developed are of superior quality than those by computerized tomography scans.

Regional Trends

By region, the North American market held the largest market share of around 38% in 2020 and is estimated to grow at a healthy CAGR during the forecast timeline.

  • This can be attributed to the rising incidence of chronic diseases, which includes cardiovascular disorders, breast cancer, and neurological diseases, thus creating a strong demand for imaging analysis in the region.
  • In addition, technological advancements along with the increasing incidence of chronic conditions further proliferate the regional market growth.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

About Stratview Research

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

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