U.S. Magnetic Resonance Imaging Market Size, Share & Trends Analysis Report By Architecture, By Field Strength, By Application (Brain & Neurological, Vascular), By End-Use- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The U.S. magnetic resonance imaging market size was exhibited at USD 1.65 billion in 2022 and is projected to hit around USD 3.1 billion by 2032, growing at a CAGR of 6.50% during the forecast period 2023 to 2032.

Key Pointers:

• The closed systems segment held the largest share of 71.9% in 2022. 
• The open MRI systems showed the highest growth rate of 7.8% CAGR.
• The mid field strength accounted for the largest share of 48.9% in the field strength segment.
• High field strength is expected to witness the highest CAGR of 7.8% during the forecast period. 
• The brain and neurological segment accounted for the largest share of 22.6% in 2022.
• The hospital segment accounted for the largest share of 37.4% in the end-use segment. 

Increase in chronic disorder, rise in geriatric patients, need for improved diagnostic tools, and the rise for minimally invasive diagnostic tools are the factors accountable for the market growth. An increased number of research activities to develop hybrid systems like PET/MRI, growing installations of 7.0T MRI for its precise imaging quality, and promising outcomes of magnetic resonance imaging (MRI) in critical application areas such as dentistry are the additional factors responsible for the growth of the market.

Only 30 institutes in the U.S. have installed 7.0T MRI systems that affirm its ability to produce high-quality neuroimages. GE Healthcare received FDA clearance for its 7.0T MRI scanners to produce clear and accurate images of the brain and joint micro-vasculature to detect various neurological disorders such as Alzheimer’s disease and mild traumatic brain injury. Additionally, these novel systems are the platforms for imaging the knee and cartilage.

Further, these systems showed promising results in the detection of neurological conditions of the patients post-COVID-19. Thus, these techniques improve patient satisfaction, eases radiologists’ workflow, and reduced rescan frequencies. Additionally, researchers in the University of Minnesota are developing ultra-high field scanners up to 20 T for the operation of human imaging. Such research activities create market growth opportunities in the coming years.

The outbreak of COVID-19 led to a decline in research activities, the closure of universities along with academic institutions, and a decline in clinical trial activities. The fear of virus spread also declined any diagnostic or surgical activities at the end-use settings. The economic crunch at hospitals, diagnostic centers or clinics, led to the reduced adoption of systems used for the diagnosis. Thus, the pandemic led to a decline in the market during 2020.

U.S. magnetic resonance imaging Market Segmentation And Key Players