Magnetic Resonance Imaging (MRI) Market Size, Share, Growth Analysis, By architecture(Closed MRI systems, Standard bore MRI, Wide bore MRI and Open MRI systems), By Field Strength(Low Field Strength, mid Field Strength and high Field Strength), By Region - Industry Forecast 2024-2031

The global market was dominated by North America. The rising prevalence of chronic diseases in this region, such as breast cancer, cardiovascular disorders, and neurological diseases, is increasing the demand for imaging analysis. Throughout the forecast period, the region is expected to maintain its dominance. MRI is expected to grow during the forecast period due to technological advancements and an increase in the prevalence of chronic conditions. Rapidly growing European countries with high per capita income and well-defined healthcare policies, such as the United Kingdom, France, and Germany, are seeing an increase in demand for advanced diagnostic imaging modalities. Furthermore, the region's constant technological advancement, as well as large investments in healthcare research, are expected to propel the segment's growth.

Asia Pacific is expected to grow the fastest during the forecast period Because of the growing geriatric population and demand for advanced imaging modalities. Furthermore, the expanding medical tourism industry in Asian countries is expected to boost the growth of the advanced medical imaging industry during the forecast period. Countries such as India, China, and Japan are generating growth opportunities through a rapidly expanding healthcare service industry, the presence of skilled healthcare personnel, and advanced healthcare facilities and services at a lower cost than developed countries in North America and Europe.