ASEAN Magnetic Resonance Imaging (MRI) Systems Market Outlook (2021-2031)

The ASEAN magnetic resonance imaging (MRI) systems market is projected to grow significantly, with an expected market size of approximately US$ 454.4 million by 2031, up from US$ 299.4 million in 2024. This growth translates to a compound annual growth rate (CAGR) of 6.1% from 2025 to 2031.

Executive Summary and Market Analysis

The ASEAN MRI systems market is characterized by rapid growth, fueled by economic development, an expanding middle class, and a strong commitment to enhancing healthcare infrastructure. Leading countries in this sector, such as Singapore, Thailand, and Malaysia, are investing heavily in advanced healthcare technologies, particularly high-field MRI systems. The region is also witnessing an increase in its aging population and a rise in chronic diseases, including cancer and neurological disorders, which drives the demand for accurate diagnostic tools.

In urban areas, there is a notable preference for high-field MRI systems, while rural and underserved regions show a growing need for low-field and refurbished MRI units to enhance accessibility. Despite the promising growth, the market faces challenges such as the high costs associated with MRI equipment, a shortage of skilled medical professionals, and diverse regulatory environments across ASEAN member states. Nevertheless, government initiatives aimed at improving public health services, along with substantial private sector investments, are expected to facilitate market growth.

Market Segmentation Analysis

The analysis of the ASEAN MRI systems market reveals several key segments that contribute to its overall dynamics, including type, field strength, mobility, application, and end user.

1. Type: The market is divided into closed MRI systems and open MRI systems. In 2024, closed MRI systems held the largest market share due to their superior imaging capabilities.
2. Field Strength: MRI systems are categorized into low-field, mid-field, and high & ultra-high field systems. The mid-field segment was the dominant category in 2024, reflecting a balance between cost and imaging quality.
3. Mobility: The market is segmented into fixed and portable MRI systems, with fixed systems leading the market in 2024, primarily due to their widespread use in hospitals and diagnostic centers.
4. Application: The applications of MRI systems include neurology, oncology, cardiology, orthopedics, gastroenterology, gynecology, and others. The neurology segment was the largest in 2024, driven by the increasing incidence of neurological disorders.
5. End User: The end users of MRI systems include hospitals, specialty clinics, diagnostic imaging centers, academic and research institutions, among others. Hospitals represented the largest share of the market in 2024, as they are the primary providers of MRI services.

Market Outlook

The future of the ASEAN MRI systems market is influenced by two main trends: the adoption of advanced technologies in developed nations like Singapore and Malaysia, and the growing presence of mid-field and refurbished MRI systems in emerging markets such as Vietnam, Indonesia, and the Philippines. A significant factor driving this growth is the region's burgeoning medical tourism sector, particularly in Singapore and Thailand, which attracts patients from neighboring countries seeking high-quality imaging services.

Government initiatives aimed at expanding universal healthcare and the growth of private hospitals are further propelling market expansion. Additionally, advancements in teleradiology and AI-assisted imaging technologies are enhancing diagnostic capabilities, particularly in underserved regions, thereby broadening access to MRI services.

Country Insights

The ASEAN MRI systems market can be analyzed by country, with key players including Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Singapore emerged as the market leader in 2024, owing to its sophisticated healthcare system and a strong emphasis on medical research. The country is quick to adopt cutting-edge technologies, such as advanced 3T MRI systems and combined PET/MRI systems. Furthermore, Singapore is a prime destination for medical tourists, which keeps its MRI facilities in high demand. The favorable business climate and robust intellectual property protections in Singapore also attract medical technology companies, encouraging them to establish operations and introduce innovative products in the region.

Company Profiles

Key players in the ASEAN MRI systems market include GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Canon Inc., Koninklijke Philips N.V., HYPERFINE, INC., Esaote SPA, Shanghai United Imaging Healthcare Co., LTD, FONAR Corp., and Neusoft Medical Systems. These companies are actively pursuing strategies such as market expansion, product innovation, and mergers and acquisitions to maintain competitiveness and deliver cutting-edge products to consumers. Show more