The Magnetic Resonance Imaging (MRI) Market was valued at USD 10.78 billion in 2024 and is predicted to reach USD 21.97 billion by 2030 with a CAGR of 6.20% from 2025-2030.The rising public awareness and improving healthcare facilities have increased the demand for better diagnosis and treatment, which in turn has been driving the magnetic resonance imaging market growth. Also, the rise in various cardiovascular, neurological, and ophthalmic diseases along with growing geriatric population are factors expected to increase the demand for MRI scans for accurate diagnosis, thus driving the MRI market growth during the forecast period.
Moreover, rise in trauma cases, constant innovation in the MRI machines by the market players, increased demand for accurate diagnosis and the potential to provide in-depth photographs of soft tissues and vascular systems are factors expected to boost the MRI market growth.
However, reduced reimbursement amounts, lack of expert professionals and high cost associated with the installation of MRI systems are few factors expected to restrain the market growth to some extent. On the other hand, increasing investments in R&D activities and development of cost-effective MRI machines are expected to provide ample growth opportunities for the market players in the coming years.
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