1	INTRODUCTION	26 
1.1	STUDY OBJECTIVES	26 
1.2	MARKET DEFINITION	26 
1.3	INCLUSIONS & EXCLUSIONS	27 
1.4	MARKET SEGMENTATION	27 
1.4.1	MARKETS COVERED	27 
1.4.2	REGIONS COVERED	28 
1.4.3	YEARS CONSIDERED	28 
1.4.4	CURRENCY CONSIDERED	28 
1.5	RESEARCH LIMITATIONS	29 
1.6	STAKEHOLDERS	29 
1.7	SUMMARY OF CHANGES	29 
1.7.1	RECESSION IMPACT	30 
2	RESEARCH METHODOLOGY	31 
2.1	RESEARCH APPROACH	31 
FIGURE 1	RESEARCH DESIGN	31 
2.1.1	SECONDARY RESEARCH	32 
2.1.2	PRIMARY RESEARCH	33 
2.1.2.1	Primary sources	33 
2.1.2.2	Key industry insights	34 
2.1.2.3	Breakdown of primaries	34 
FIGURE 2	BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY-SIDE AND DEMAND-SIDE PARTICIPANTS	34 
FIGURE 3	BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION,  AND REGION	35 
2.2	MARKET SIZE ESTIMATION	35 
FIGURE 4	HYPOTHESIS BUILDING	36 
2.2.1	BOTTOM-UP APPROACH	36 
2.2.1.1	Company revenue estimation	36 
FIGURE 5	MARKET SIZE ESTIMATION: COMPANY REVENUE ESTIMATION	37 
FIGURE 6	REVENUE SHARE ANALYSIS: ILLUSTRATIVE EXAMPLE OF SIEMENS HEALTHINEERS	37 
2.2.1.2	Customer-based market estimation	38 
FIGURE 7	BOTTOM-UP APPROACH	38 
2.2.1.3	Growth forecast	38 
2.2.1.4	CAGR projections	39 
FIGURE 8	SUPPLY-SIDE ANALYSIS: CAGR PROJECTIONS	39 
  
2.3	DATA TRIANGULATION	40 
FIGURE 9	DATA TRIANGULATION	40 
2.4	MARKET SHARE ESTIMATION	41 
2.5	STUDY ASSUMPTIONS	41 
2.6	RISK ASSESSMENT	42 
TABLE 1	RISK ASSESSMENT: MRI SYSTEMS MARKET	42 
2.7	IMPACT OF RECESSION ON MRI SYSTEMS MARKET	42 
3	EXECUTIVE SUMMARY	43 
FIGURE 10	MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2023 VS. 2028 (USD MILLION)	43 
FIGURE 11	MRI SYSTEMS MARKET, BY ARCHITECTURE, 2023 VS. 2028 (USD MILLION)	44 
FIGURE 12	MRI SYSTEMS MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION)	44 
FIGURE 13	MRI SYSTEMS MARKET, BY END USER, 2023 VS. 2028 (USD MILLION)	45 
FIGURE 14	REGIONAL SNAPSHOT: MRI SYSTEMS MARKET	46 
4	PREMIUM INSIGHTS	47 
4.1	MRI SYSTEMS MARKET OVERVIEW	47 
FIGURE 15	RISING PREVALENCE OF CHRONIC DISEASES TO DRIVE MARKET	47 
4.2	EUROPE: MRI SYSTEMS MARKET, BY FIELD STRENGTH,  2023–2028 (USD MILLION)	48 
FIGURE 16	HIGH & VERY-HIGH-FIELD MRI SYSTEMS DOMINATED EUROPEAN  MARKET IN 2022	48 
4.3	NORTH AMERICA: MRI SYSTEMS MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	48 
FIGURE 17	BRAIN AND NEUROLOGICAL MRI TO COMMAND LARGEST SHARE IN NORTH AMERICAN MARKET DURING FORECAST PERIOD	48 
4.4	ASIA PACIFIC: MRI SYSTEMS MARKET, BY END USER,  2023–2028 (USD MILLION)	49 
FIGURE 18	HOSPITALS TO HOLD LARGEST SHARE IN ASIA PACIFIC MARKET	49 
4.5	GEOGRAPHICAL SNAPSHOT: MRI SYSTEMS MARKET	49 
FIGURE 19	CHINA TO WITNESS HIGHEST GROWTH RATE DURING FORECAST PERIOD	49 
5	MARKET OVERVIEW	50 
5.1	INTRODUCTION	50 
5.2	MARKET DYNAMICS	50 
FIGURE 20	DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: MRI SYSTEMS MARKET	50 
5.2.1	DRIVERS	51 
5.2.1.1	Growing geriatric population and rising prevalence of associated diseases	51 
TABLE 2	PREVALENCE OF AGE-RELATED DISEASES	51 
5.2.1.2	Increasing demand for early diagnosis and screening of diseases	51 
5.2.1.3	Technological advancements in MRI systems	52 
TABLE 3	TECHNOLOGICAL ADVANCEMENTS IN MRI SYSTEMS	52 
5.2.1.4	Increasing investments, funds, and grants by public-private organizations	52 
5.2.2	RESTRAINTS	53 
5.2.2.1	High cost of MRI systems	53 
5.2.2.2	Incompatibility of MRI systems with non-MRI-conditional devices	53 
5.2.2.3	Unfavorable reimbursement scenario	54 
5.2.2.4	Shortage of helium	54 
5.2.3	OPPORTUNITIES	54 
5.2.3.1	High growth potential in emerging economies	54 
5.2.3.2	Adoption of AI and analytics in MRI systems	55 
5.2.3.3	Increasing number of hospitals and diagnostic imaging centers	55 
5.2.3.4	Introduction of hybrid or fusion MRI systems	56 
5.2.4	CHALLENGES	57 
5.2.4.1	Decline in proposed budget for healthcare organizations	57 
5.2.4.2	Dearth of trained and skilled professionals	57 
5.3	PRICING ANALYSIS	57 
TABLE 4	REGIONAL PRICING ANALYSIS OF MRI SYSTEMS, 2022 (USD)	57 
5.4	VALUE CHAIN ANALYSIS	58 
FIGURE 21	VALUE CHAIN ANALYSIS	58 
5.5	ECOSYSTEM MARKET MAP	59 
5.6	SUPPLY CHAIN ANALYSIS	59 
FIGURE 22	SUPPLY CHAIN ANALYSIS	60 
5.7	PORTER’S FIVE FORCES ANALYSIS	60 
TABLE 5	PORTER’S FIVE FORCES ANALYSIS: MRI SYSTEMS MARKET	60 
5.8	REGULATORY LANDSCAPE	61 
TABLE 6	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	61 
5.8.1	NORTH AMERICA	62 
5.8.1.1	US	62 
TABLE 7	US FDA: MEDICAL DEVICE CLASSIFICATION	62 
TABLE 8	US: MEDICAL DEVICE REGULATORY APPROVAL PROCESS	63 
5.8.1.2	Canada	63 
TABLE 9	CANADA: MEDICAL DEVICE REGULATORY APPROVAL PROCESS	63 
5.8.2	EUROPE	63 
5.8.3	ASIA PACIFIC	64 
5.8.3.1	Japan	64 
TABLE 10	JAPAN: MEDICAL DEVICE CLASSIFICATION UNDER PMDA	64 
5.8.3.2	China	65 
TABLE 11	CHINA: CLASSIFICATION OF MEDICAL DEVICES	65 
5.8.3.3	India	66 
5.9	TECHNOLOGY ANALYSIS	67 
5.10	REIMBURSEMENT ANALYSIS	67 
TABLE 12	MEDICAL REIMBURSEMENT CODES FOR MRI PROCEDURES IN US, 2022	68 
  
5.11	TRADE ANALYSIS	69 
TABLE 13	IMPORT DATA FOR MRI SYSTEMS, BY COUNTRY, 2018─2022 (USD THOUSAND)	69 
TABLE 14	EXPORT DATA FOR MRI SYSTEMS, BY COUNTRY, 2018─2022 (USD THOUSAND)	69 
5.12	PATENT ANALYSIS	70 
FIGURE 23	TOP 10 PATENT APPLICANTS FOR MRI SYSTEMS (JANUARY 2012–DECEMBER 2022)	70 
5.13	CASE STUDY ANALYSIS	71 
TABLE 15	CASE STUDY: REVEALING SMALL LIVER METASTASES USING MR-PET SCANS THAT ARE NOT VISIBLE BY PET/CT SCANS	71 
5.14	KEY STAKEHOLDERS & BUYING CRITERIA	71 
5.14.1	KEY STAKEHOLDERS	71 
TABLE 16	KEY REQUIREMENTS OF STAKEHOLDERS ON BUYING CRITERIA OF MRI SYSTEMS	71 
5.14.2	IMPACT ANALYSIS OF KEY BUYING CRITERIA	72 
TABLE 17	KEY REQUIREMENTS OF STAKEHOLDERS ON BUYING CRITERIA OF MRI SYSTEMS	72 
5.15	KEY CONFERENCES & EVENTS, 2023–2024	73 
TABLE 18	LIST OF MAJOR CONFERENCES & EVENTS, 2023–2024	73 
6	MRI SYSTEMS MARKET, BY FIELD STRENGTH	75 
6.1	INTRODUCTION	76 
TABLE 19	MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	76 
6.2	HIGH & VERY-HIGH-FIELD MRI SYSTEMS	76 
TABLE 20	MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD MRI SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	77 
TABLE 21	MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD MRI SYSTEMS, BY REGION,  2021–2028 (USD MILLION)	77 
TABLE 22	MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD MRI SYSTEMS, BY APPLICATION, 2021–2028 (USD MILLION)	78 
TABLE 23	MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD MRI SYSTEMS, BY END USER,  2021–2028 (USD MILLION)	78 
6.2.1	1.5T MRI SYSTEMS	79 
6.2.1.1	Increased use in routine examinations and cardiac imaging to drive segment	79 
TABLE 24	1.5T MRI SYSTEMS MARKET, BY REGION, 2021–2028 (USD MILLION)	79 
6.2.2	3T MRI SYSTEMS	79 
6.2.2.1	Growing use in hospitals and diagnostic imaging centers to drive segment	79 
TABLE 25	3T MRI SYSTEMS MARKET, BY REGION, 2021–2028 (USD MILLION)	80 
6.3	LOW-TO-MID-FIELD MRI SYSTEMS	80 
6.3.1	LOWER COST, EASIER INSTALLATION, AND LESSER ELECTRICITY CONSUMPTION TO DRIVE MARKET	80 
TABLE 26	MRI SYSTEMS MARKET FOR LOW-TO-MID-FIELD MRI SYSTEMS, BY REGION,  2021–2028 (USD MILLION)	80 
TABLE 27	MRI SYSTEMS MARKET FOR LOW-TO-MID-FIELD MRI SYSTEMS, BY APPLICATION,  2021–2028 (USD MILLION)	81 
TABLE 28	MRI SYSTEMS MARKET FOR LOW-TO-MID-FIELD MRI SYSTEMS, BY END USER,  2021–2028 (USD MILLION)	81 
6.4	ULTRA-HIGH-FIELD MRI SYSTEMS	82 
6.4.1	HIGHER RESOLUTION, BETTER INTRINSIC SNR, AND IMPROVED CONTRAST TO DRIVE MARKET	82 
TABLE 29	MRI SYSTEMS MARKET FOR ULTRA-HIGH-FIELD MRI SYSTEMS, BY REGION,  2021–2028 (USD MILLION)	82 
TABLE 30	MRI SYSTEMS MARKET FOR ULTRA-HIGH-FIELD MRI SYSTEMS, BY APPLICATION,  2021–2028 (USD MILLION)	83 
TABLE 31	MRI SYSTEMS MARKET FOR ULTRA-HIGH-FIELD MRI SYSTEMS, BY END USER,  2021–2028 (USD MILLION)	83 
7	MRI SYSTEMS MARKET, BY ARCHITECTURE	84 
7.1	INTRODUCTION	85 
TABLE 32	MRI SYSTEMS MARKET, BY ARCHITECTURE, 2021–2028 (USD MILLION)	85 
7.2	CLOSED MRI SYSTEMS	85 
TABLE 33	MRI SYSTEMS MARKET FOR CLOSED MRI SYSTEMS, BY TYPE, 2021–2028 (USD MILLION)	86 
TABLE 34	MRI SYSTEMS MARKET FOR CLOSED MRI SYSTEMS, BY REGION,  2021–2028 (USD MILLION)	86 
7.2.1	STANDARD BORE MRI SYSTEMS	86 
7.2.1.1	Higher accuracy and improved sensitivity to drive segment	86 
TABLE 35	STANDARD BORE MRI SYSTEMS MARKET, BY REGION, 2021–2028 (USD MILLION)	87 
7.2.2	WIDE-BORE MRI SYSTEMS	87 
7.2.2.1	High-quality MRI images and improved patient comfort to drive segment	87 
TABLE 36	WIDE-BORE MRI SYSTEMS MARKET, BY REGION, 2021–2028 (USD MILLION)	87 
7.3	OPEN MRI SYSTEMS	88 
7.3.1	LONG SCANNING TIME AND POOR IMAGE QUALITY TO LIMIT MARKET	88 
TABLE 37	MRI SYSTEMS MARKET FOR OPEN MRI SYSTEMS, BY REGION,  2021–2028 (USD MILLION)	88 
8	MRI SYSTEMS MARKET, BY APPLICATION	89 
8.1	INTRODUCTION	90 
TABLE 38	MRI SYSTEMS MARKET, BY APPLICATION, 2021–2028 (USD MILLION)	90 
8.1.1	BRAIN AND NEUROLOGICAL MRI	90 
8.1.1.1	Rising incidence of neurodegenerative diseases to drive market	90 
TABLE 39	MRI SYSTEMS MARKET FOR BRAIN AND NEUROLOGICAL MRI, BY REGION,  2021–2028 (USD MILLION)	91 
  
8.1.2	SPINE AND MUSCULOSKELETAL MRI	91 
8.1.2.1	Growing demand for spinal MRI in geriatric population to drive market	91 
TABLE 40	MRI SYSTEMS MARKET FOR SPINE AND MUSCULOSKELETAL MRI, BY REGION,  2021–2028 (USD MILLION)	91 
8.1.3	VASCULAR MRI	92 
8.1.3.1	Rising incidence of vascular disorders to drive market	92 
TABLE 41	MRI SYSTEMS MARKET FOR VASCULAR MRI, BY REGION, 2021–2028 (USD MILLION)	92 
8.1.4	PELVIC AND ABDOMINAL MRI	92 
8.1.4.1	Increased use in prostate and cervical cancer detection to drive market	92 
TABLE 42	MRI SYSTEMS MARKET FOR PELVIC AND ABDOMINAL MRI, BY REGION,  2021–2028 (USD MILLION)	93 
8.1.5	BREAST MRI	93 
8.1.5.1	Growing awareness about early breast cancer screening to drive market	93 
TABLE 43	MRI SYSTEMS MARKET FOR BREAST MRI, BY REGION, 2021–2028 (USD MILLION)	94 
8.1.6	CARDIAC MRI	94 
8.1.6.1	Rising incidence of cardiovascular diseases to drive market	94 
TABLE 44	MRI SYSTEMS MARKET FOR CARDIAC MRI, BY REGION, 2021–2028 (USD MILLION)	94 
8.1.7	OTHER APPLICATIONS	95 
TABLE 45	MRI SYSTEMS MARKET FOR OTHER APPLICATIONS, BY REGION,  2021–2028 (USD MILLION)	95 
9	MRI SYSTEMS MARKET, BY END USER	96 
9.1	INTRODUCTION	97 
TABLE 46	MRI SYSTEMS MARKET, BY END USER, 2021–2028 (USD MILLION)	97 
9.2	HOSPITALS	97 
9.2.1	INCREASED ADOPTION OF ADVANCED MRI SYSTEMS TO DRIVE MARKET	97 
TABLE 47	MRI SYSTEMS MARKET FOR HOSPITALS, BY REGION, 2021–2028 (USD MILLION)	98 
9.3	DIAGNOSTIC IMAGING CENTERS	98 
9.3.1	RISING NUMBER OF PRIVATE IMAGING CENTERS TO DRIVE MARKET	98 
TABLE 48	MRI SYSTEMS MARKET FOR DIAGNOSTIC IMAGING CENTERS, BY REGION,  2021–2028 (USD MILLION)	99 
9.4	OTHER END USERS	99 
TABLE 49	MRI SYSTEMS MARKET FOR OTHER END USERS, BY REGION, 2021–2028 (USD MILLION)	100 
10	MRI SYSTEMS MARKET, BY REGION	101 
10.1	INTRODUCTION	102 
TABLE 50	MRI SYSTEMS MARKET, BY REGION, 2021–2028 (USD MILLION)	102 
10.2	ASIA PACIFIC	102 
FIGURE 24	ASIA PACIFIC: CANCER PREVALENCE, 2012–2020	103 
FIGURE 25	ASIA PACIFIC: MRI SYSTEMS MARKET SNAPSHOT	104 
TABLE 51	ASIA PACIFIC: MRI SYSTEMS MARKET, BY COUNTRY, 2021–2028 (USD MILLION)	105 
TABLE 52	ASIA PACIFIC: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	105 
TABLE 53	ASIA PACIFIC: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE, 2021–2028 (USD MILLION)	105 
TABLE 54	ASIA PACIFIC: MRI SYSTEMS MARKET, BY ARCHITECTURE, 2021–2028 (USD MILLION)	106 
TABLE 55	ASIA PACIFIC: MRI SYSTEMS MARKET FOR CLOSED MRI SYSTEMS, BY TYPE  2021–2028 (USD MILLION)	106 
TABLE 56	ASIA PACIFIC: MRI SYSTEMS MARKET, BY APPLICATION, 2021–2028 (USD MILLION)	106 
TABLE 57	ASIA PACIFIC: MRI SYSTEMS MARKET, BY END USER, 2021–2028 (USD MILLION)	107 
10.2.1	ASIA PACIFIC: RECESSION IMPACT	107 
10.2.2	JAPAN	107 
10.2.2.1	Japan to dominate Asia Pacific market during forecast period	107 
TABLE 58	JAPAN: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	108 
TABLE 59	JAPAN: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD MRI SYSTEMS, BY TYPE, 2021–2028 (USD MILLION)	108 
10.2.3	CHINA	108 
10.2.3.1	Increasing government initiatives and growing geriatric population to drive market	108 
TABLE 60	CHINA: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	109 
TABLE 61	CHINA: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS,  BY TYPE, 2021–2028 (USD MILLION)	109 
10.2.4	INDIA	110 
10.2.4.1	Uncertainties in healthcare policies to limit market	110 
TABLE 62	INDIA: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	110 
TABLE 63	INDIA: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	111 
10.2.5	SOUTH KOREA	111 
10.2.5.1	Rising R&D funding and increasing government initiatives to drive market	111 
TABLE 64	SOUTH KOREA: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	111 
TABLE 65	SOUTH KOREA: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH FIELD SYSTEMS, BY TYPE, 2021–2028 (USD MILLION)	112 
10.2.6	AUSTRALIA	112 
10.2.6.1	Growing healthcare spending and increasing research funding to drive market	112 
TABLE 66	AUSTRALIA: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	112 
TABLE 67	AUSTRALIA: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE, 2021–2028 (USD MILLION)	113 
10.2.7	REST OF ASIA PACIFIC	113 
TABLE 68	REST OF ASIA PACIFIC: MRI SYSTEMS MARKET, BY FIELD STRENGTH,  2021–2028 (USD MILLION)	113 
TABLE 69	REST OF ASIA PACIFIC: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH FIELD  SYSTEMS, BY TYPE, 2021–2028 (USD MILLION)	114 
10.3	NORTH AMERICA	114 
FIGURE 26	NORTH AMERICA: CANCER PREVALENCE, 2012–2020	114 
FIGURE 27	NORTH AMERICA: MRI SYSTEMS MARKET SNAPSHOT	115 
TABLE 70	NORTH AMERICA: MRI SYSTEMS MARKET, BY COUNTRY, 2021–2028 (USD MILLION)	115 
TABLE 71	NORTH AMERICA: MRI SYSTEMS MARKET, BY FIELD STRENGTH,  2021–2028 (USD MILLION)	116 
TABLE 72	NORTH AMERICA: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS,  BY TYPE, 2021–2028 (USD MILLION)	116 
TABLE 73	NORTH AMERICA: MRI SYSTEMS MARKET, BY ARCHITECTURE,  2021–2028 (USD MILLION)	116 
TABLE 74	NORTH AMERICA: MRI SYSTEMS MARKET FOR CLOSED MRI SYSTEMS, BY TYPE  2021–2028 (USD MILLION)	117 
TABLE 75	NORTH AMERICA: MRI SYSTEMS MARKET, BY APPLICATION, 2021–2028 (USD MILLION)	117 
TABLE 76	NORTH AMERICA: MRI SYSTEMS MARKET, BY END USER, 2021–2028 (USD MILLION)	117 
10.3.1	NORTH AMERICA: RECESSION IMPACT	118 
10.3.2	US	118 
10.3.2.1	Rising incidence of chronic diseases to drive market	118 
TABLE 77	US: KEY MACROINDICATORS	118 
TABLE 78	US: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	119 
TABLE 79	US: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	119 
10.3.3	CANADA	119 
10.3.3.1	Rising incidence of heart and kidney diseases to drive market	119 
TABLE 80	CANADA: KEY MACROINDICATORS	119 
TABLE 81	CANADA: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	120 
TABLE 82	CANADA: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE, 2021–2028 (USD MILLION)	121 
10.4	EUROPE	121 
TABLE 83	EUROPE: MRI SYSTEMS MARKET, BY COUNTRY, 2021–2028 (USD MILLION)	121 
TABLE 84	EUROPE: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	122 
TABLE 85	EUROPE: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE, 2021–2028 (USD MILLION)	122 
TABLE 86	EUROPE: MRI SYSTEMS MARKET, BY ARCHITECTURE, 2021–2028 (USD MILLION)	122 
TABLE 87	EUROPE: MRI SYSTEMS MARKET FOR CLOSED MRI SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	123 
TABLE 88	EUROPE: MRI SYSTEMS MARKET, BY APPLICATION, 2021–2028 (USD MILLION)	123 
TABLE 89	EUROPE: MRI SYSTEMS MARKET, BY END USER, 2021–2028 (USD MILLION)	123 
10.4.1	EUROPE: RECESSION IMPACT	124 
10.4.2	GERMANY	124 
10.4.2.1	Increasing number of diagnostic imaging centers to drive market	124 
TABLE 90	GERMANY: KEY MACROINDICATORS	125 
TABLE 91	GERMANY: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	125 
TABLE 92	GERMANY: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	125 
10.4.3	UK	126 
10.4.3.1	Increased investments in diagnostic imaging centers to drive market	126 
TABLE 93	UK: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	126 
TABLE 94	UK: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH FIELD SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	127 
10.4.4	FRANCE	127 
10.4.4.1	Rising target patient population and increasing government investments to drive market	127 
TABLE 95	FRANCE: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	128 
TABLE 96	FRANCE: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	128 
10.4.5	ITALY	128 
10.4.5.1	Well-established healthcare infrastructure to drive market	128 
TABLE 97	ITALY: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	129 
TABLE 98	ITALY: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	129 
10.4.6	SPAIN	130 
10.4.6.1	Increasing incidence of cancer and growing geriatric population to drive market	130 
TABLE 99	SPAIN: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	130 
TABLE 100	SPAIN: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	131 
10.4.7	REST OF EUROPE	131 
TABLE 101	REST OF EUROPE: MRI SYSTEMS MARKET, BY FIELD STRENGTH,  2021–2028 (USD MILLION)	132 
TABLE 102	REST OF EUROPE: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS,  BY TYPE, 2021–2028 (USD MILLION)	132 
10.5	LATIN AMERICA	132 
TABLE 103	LATIN AMERICA: MRI SYSTEMS MARKET, BY COUNTRY, 2021–2028 (USD MILLION)	133 
TABLE 104	LATIN AMERICA: MRI SYSTEMS MARKET, BY FIELD STRENGTH,  2021–2028 (USD MILLION)	133 
TABLE 105	LATIN AMERICA: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS,  BY TYPE, 2021–2028 (USD MILLION)	133 
TABLE 106	LATIN AMERICA: MRI SYSTEMS MARKET, BY ARCHITECTURE 2021–2028 (USD MILLION)	134 
TABLE 107	LATIN AMERICA: MRI SYSTEMS MARKET FOR CLOSED MRI SYSTEMS, BY TYPE  2021–2028 (USD MILLION)	134 
TABLE 108	LATIN AMERICA: MRI SYSTEMS MARKET, BY APPLICATION, 2021–2028 (USD MILLION)	134 
TABLE 109	LATIN AMERICA: MRI SYSTEMS MARKET, BY END USER, 2021–2028 (USD MILLION)	135 
10.5.1	LATIN AMERICA: RECESSION IMPACT	135 
10.5.2	BRAZIL	135 
10.5.2.1	Increasing disease burden and growing adoption of healthcare insurance to drive market	135 
TABLE 110	BRAZIL: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	136 
TABLE 111	BRAZIL: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	136 
10.5.3	MEXICO	136 
10.5.3.1	Rising government initiatives and funding to drive market	136 
TABLE 112	MEXICO: MRI SYSTEMS MARKET, BY FIELD STRENGTH, 2021–2028 (USD MILLION)	137 
TABLE 113	MEXICO: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE,  2021–2028 (USD MILLION)	137 
10.5.4	REST OF LATIN AMERICA	137 
TABLE 114	REST OF LATIN AMERICA: MRI SYSTEMS MARKET, BY FIELD STRENGTH,  2021–2028 (USD MILLION)	138 
TABLE 115	REST OF LATIN AMERICA: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE, 2021–2028 (USD MILLION)	138 
10.6	MIDDLE EAST & AFRICA	138 
10.6.1	INCREASING INVESTMENTS BY KEY PLAYERS TO DRIVE MARKET	138 
TABLE 116	MIDDLE EAST & AFRICA: MRI SYSTEMS MARKET, BY FIELD STRENGTH,  2021–2028 (USD MILLION)	139 
TABLE 117	MIDDLE EAST & AFRICA: MRI SYSTEMS MARKET FOR HIGH & VERY-HIGH-FIELD SYSTEMS, BY TYPE, 2021–2028 (USD MILLION)	139 
TABLE 118	MIDDLE EAST & AFRICA: MRI SYSTEMS MARKET, BY ARCHITECTURE,  2021–2028 (USD MILLION)	140 
TABLE 119	MIDDLE EAST & AFRICA: MRI SYSTEMS MARKET FOR CLOSED MRI SYSTEMS, BY TYPE 2021–2028 (USD MILLION)	140 
TABLE 120	MIDDLE EAST & AFRICA: MRI SYSTEMS MARKET, BY APPLICATION,  2021–2028 (USD MILLION)	140 
TABLE 121	MIDDLE EAST & AFRICA: MRI SYSTEMS MARKET, BY END USER,  2021–2028 (USD MILLION)	141 
10.7	MIDDLE EAST & AFRICA: RECESSION IMPACT	141 
  
11	COMPETITIVE LANDSCAPE	142 
11.1	OVERVIEW	142 
11.2	KEY STRATEGIES/RIGHT TO WIN	142 
FIGURE 28	STRATEGIES ADOPTED BY KEY PLAYERS IN MRI SYSTEMS MARKET	143 
11.3	REVENUE SHARE ANALYSIS	143 
FIGURE 29	REVENUE SHARE ANALYSIS OF TOP THREE PLAYERS (2020–2022)	144 
11.4	MARKET SHARE ANALYSIS	144 
FIGURE 30	SIEMENS HEALTHINEERS COMMANDED LARGEST MARKET SHARE IN 2022	144 
TABLE 122	DEGREE OF COMPETITION: MRI SYSTEMS MARKET	145 
11.5	COMPANY EVALUATION MATRIX, 2022	146 
11.5.1	STARS	146 
11.5.2	PERVASIVE PLAYERS	146 
11.5.3	EMERGING LEADERS	146 
11.5.4	PARTICIPANTS	146 
FIGURE 31	COMPANY EVALUATION MATRIX, 2022	147 
11.5.5	COMPANY FOOTPRINT	148 
TABLE 123	FIELD STRENGTH AND REGIONAL FOOTPRINT: MRI SYSTEMS MARKET	148 
11.6	START-UP/SME EVALUATION MATRIX, 2022	148 
11.6.1	PROGRESSIVE COMPANIES	148 
11.6.2	RESPONSIVE COMPANIES	148 
11.6.3	DYNAMIC COMPANIES	149 
11.6.4	STARTING BLOCKS	149 
FIGURE 32	START-UP/SME EVALUATION MATRIX, 2022	149 
11.6.5	COMPETITIVE BENCHMARKING	150 
TABLE 124	DETAILED LIST OF KEY START-UPS/SMES	150 
11.7	COMPETITIVE SCENARIO AND TRENDS	150 
11.7.1	KEY PRODUCT LAUNCHES AND APPROVALS	150 
TABLE 125	KEY PRODUCT LAUNCHES AND APPROVALS, JANUARY 2020–OCTOBER 2023	150 
11.7.2	KEY DEALS	151 
TABLE 126	KEY DEALS, JANUARY 2020–JULY 2023	151 
12	COMPANY PROFILES	154 
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)* 
12.1	KEY PLAYERS	154 
12.1.1	SIEMENS HEALTHINEERS	154 
TABLE 127	SIEMENS HEALTHINEERS: COMPANY OVERVIEW	154 
FIGURE 33	SIEMENS HEALTHINEERS: COMPANY SNAPSHOT (2022)	155 
12.1.2	GE HEALTHCARE	159 
TABLE 128	GE HEALTHCARE: COMPANY OVERVIEW	159 
FIGURE 34	GE HEALTHCARE: COMPANY SNAPSHOT (2022)	160 
  
12.1.3	KONINKLIJKE PHILIPS N.V.	163 
TABLE 129	KONINKLIJKE PHILIPS N.V.: COMPANY OVERVIEW	163 
FIGURE 35	KONINKLIJKE PHILIPS N.V.: COMPANY SNAPSHOT (2022)	164 
12.1.4	FUJIFILM CORPORATION	167 
TABLE 130	FUJIFILM CORPORATION: COMPANY OVERVIEW	167 
FIGURE 36	FUJIFILM CORPORATION: COMPANY SNAPSHOT (2022)	168 
12.1.5	CANON INC.	171 
TABLE 131	CANON INC.: COMPANY OVERVIEW	171 
FIGURE 37	CANON INC.: COMPANY SNAPSHOT (2022)	172 
12.1.6	FONAR CORPORATION	174 
TABLE 132	FONAR CORPORATION: COMPANY OVERVIEW	174 
FIGURE 38	FONAR CORPORATION: COMPANY SNAPSHOT (2022)	174 
12.1.7	ESAOTE S.P.A	176 
TABLE 133	ESAOTE SPA: COMPANY OVERVIEW	176 
12.1.8	SHANGHAI UNITED IMAGING HEALTHCARE CO., LTD.	178 
TABLE 134	SHANGHAI UNITED IMAGING HEALTHCARE CO., LTD.: COMPANY OVERVIEW	178 
FIGURE 39	SHANGHAI UNITED IMAGING HEALTHCARE CO., LTD.: COMPANY 
SNAPSHOT (2022)	178 
12.1.9	ASPECT IMAGING LTD.	180 
TABLE 135	ASPECT IMAGING LTD.: COMPANY OVERVIEW	180 
12.1.10	TIME MEDICAL HOLDING	181 
TABLE 136	TIME MEDICAL HOLDING: COMPANY OVERVIEW	181 
12.1.11	NEUSOFT MEDICAL SYSTEMS CO., LTD.	183 
TABLE 137	NEUSOFT MEDICAL SYSTEMS CO., LTD.: COMPANY OVERVIEW	183 
12.1.12	AURORA HEALTHCARE US CORP.	184 
TABLE 138	AURORA HEALTHCARE US CORP.: COMPANY OVERVIEW	184 
12.1.13	STERNMED GMBH	186 
TABLE 139	STERNMED GMBH: COMPANY OVERVIEW	186 
12.1.14	SHENZHEN BASDA MEDICAL APPARATUS CO., LTD.	187 
TABLE 140	SHENZHEN BASDA MEDICAL APPARATUS CO., LTD.: COMPANY OVERVIEW	187 
12.1.15	XINGAOYI MEDICAL EQUIPMENT CO., LTD.	188 
TABLE 141	XINGAOYI MEDICAL EQUIPMENT CO., LTD.: COMPANY OVERVIEW	188 
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies. 
12.2	OTHER PLAYERS	189 
12.2.1	MAGNETICA	189 
12.2.2	HYPERFINE, INC.	189 
12.2.3	INNERVISION MRI LTD.	190 
12.2.4	SHENZHEN ANKE HIGH-TECH CO., LTD.	190 
12.2.5	MEDONICA CO., LTD.	191 
12.2.6	BEIJING WANDONG MEDICAL TECHNOLOGY CO., LTD.	192 
12.2.7	NEOSCAN SOLUTIONS GMBH	193 
12.2.8	KANGDA INTERCONTINENTAL MEDICAL EQUIPMENT CO., LTD.	194 
12.2.9	MINFOUND MEDICAL SYSTEMS CO., LTD.	195 
12.2.10	SYNAPTIVE MEDICAL	195 
13	APPENDIX	196 
13.1	DISCUSSION GUIDE	196 
13.2	KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL	200 
13.3	CUSTOMIZATION OPTIONS	202 
13.4	RELATED REPORTS	202 
13.5	AUTHOR DETAILS	203 
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