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

The European magnetic resonance imaging (MRI) systems market is projected to grow significantly, reaching approximately US$ 6,650.77 million by 2031, up from US$ 4,684.03 million in 2024. This growth represents a compound annual growth rate (CAGR) of 5.3% from 2025 to 2031.

Executive Summary and Market Analysis

The MRI systems market in Europe is characterized as a mature and technologically advanced sector, driven by several factors including sophisticated healthcare systems, an aging population, and a high incidence of chronic diseases. Major markets within Western Europe, particularly Germany, the UK, and France, are notable for their substantial healthcare investments and commitment to advanced diagnostic technologies.

A prominent trend in the market is the increasing demand for high-field MRI systems, specifically those operating at 1.5T and 3T, as well as ultra-high-field systems. These advanced machines are favored for their superior image quality and reduced scan times. Additionally, the integration of artificial intelligence (AI) and machine learning technologies is enhancing diagnostic precision and optimizing operational workflows. The presence of universal health coverage in many European countries further facilitates public access to these advanced diagnostic services.

Market Segmentation Analysis

The MRI systems market can be segmented based on type, field strength, mobility, application, and end user.

By Type: The market is divided into closed MRI systems and open MRI systems, with closed MRI systems leading the market in 2024.
By Field Strength: MRI systems are categorized into low-field, mid-field, and high & ultra-high field systems. The mid-field segment was the largest in 2024.
By Mobility: The market is split into fixed and portable systems, with fixed systems dominating in 2024.
By Application: The applications include neurology, oncology, cardiology, orthopedics, gastroenterology, gynecology, and others, with neurology being the leading segment in 2024.
By End User: The end users are hospitals, specialty clinics, diagnostic imaging centers, academic and research institutes, among others, with hospitals holding the largest market share in 2024.

Market Outlook

Europe stands as the second-largest market for MRI systems, bolstered by a well-established healthcare framework and a strong focus on early disease detection. The demand for advanced diagnostic solutions is particularly pronounced in countries like Germany, the UK, France, and Italy, where healthcare facilities are increasingly upgrading to high-field and ultra-high-field MRI systems. Government-funded healthcare systems in many European nations ensure that MRI scans are more accessible, although long waiting times in certain areas highlight the need for increased capacity.

Moreover, the market is witnessing a rise in product launches and regulatory approvals, which are contributing to its growth. For example, in November 2024, Hyperfine, Inc. received CE approval for its AI-powered Swoop MRI system software under the European Medical Device Regulation.

Investment in research, particularly in fields like neuroscience and musculoskeletal imaging, is also fostering a strong foundation for MRI adoption. The region is increasingly adopting eco-friendly and helium-free MRI systems, aligning with sustainability objectives. Collaborations among universities, hospitals, and imaging companies are driving innovation in hybrid and AI-integrated MRI technologies. Despite challenges such as high system costs and stringent regulatory requirements, ongoing upgrades to imaging infrastructure and expanding applications in oncology and neurology are expected to sustain market growth across Europe.

Country Insights

The European MRI systems market is further segmented by country, including Germany, Italy, France, the UK, Spain, Belgium, the Netherlands, Luxembourg, Norway, Finland, Denmark, Sweden, Austria, Switzerland, Russia, Romania, Greece, Czech Republic, Portugal, Ukraine, Poland, Slovakia, and Bulgaria. Germany is the leading market in 2024.

Germany's dominance in the MRI systems market is attributed to its advanced healthcare infrastructure, high levels of healthcare spending, and the presence of leading medical technology firms such as Siemens Healthineers and GE HealthCare. The country boasts a comprehensive network of hospitals, diagnostic imaging centers, and research institutions that consistently invest in state-of-the-art MRI technology, including high-field and ultra-high-field systems.

The increasing prevalence of chronic diseases, such as neurological disorders, cancer, and cardiovascular conditions, is driving the demand for accurate and timely diagnoses, further propelling MRI adoption. Germany benefits from supportive government policies, favorable reimbursement frameworks, and initiatives that promote healthcare innovation and medical research. The integration of AI and hybrid imaging technologies, such as PET/MRI, is improving imaging efficiency and diagnostic accuracy, encouraging further deployment of MRI systems.

Technological advancements, including faster scan times, patient-friendly designs, and portable MRI solutions, reinforce Germany's leadership in the market. Overall, the combination of technological expertise, a focus on research, and a robust healthcare infrastructure positions Germany as the most developed and influential market for MRI systems in Europe.

Company Profiles

Key players in the European 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 employ strategies such as expansion, product innovation, and mergers and acquisitions to maintain competitiveness and deliver innovative products to consumers. Show more