India Magnetic Resonance Imaging Market to Grow with a CAGR of 4.81% through 2030
Technological advancements in Magnetic Resonance
Imaging systems and increasing focus on affordable healthcare solutions is expected
to drive the India Magnetic Resonance Imaging Market growth in the forecast
period, 2026-2030.
According to
TechSci Research's report, “India Magnetic Resonance Imaging Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F,” the India Magnetic Resonance Imaging Market stood at USD 259.05 Million in 2024 and is anticipated to grow at a CAGR of 4.81% through 2030.
The
Magnetic Resonance Imaging (MRI) market in India is undergoing rapid expansion and transformation, driven by technological advancements, expanding healthcare infrastructure, and growing demand for
advanced diagnostic capabilities across various medical specialties. MRI has
become indispensable in modern healthcare due to its non-invasive nature and
ability to provide detailed images of soft tissues, organs, and vascular
structures, facilitating precise diagnosis and treatment planning.
Technological
innovation is at the forefront of shaping the MRI market in India. Modern MRI
systems are equipped with high-field magnets ranging from 1.5 Tesla to 3 Tesla
and higher, enabling superior image quality and resolution compared to earlier
generations. These advancements are crucial for enhancing diagnostic accuracy
in neurology, oncology, orthopedics, cardiology, and other medical disciplines.
Advancements in MRI technology include the development of specialized imaging
sequences such as functional MRI (fMRI), diffusion-weighted imaging (DWI), and
magnetic resonance spectroscopy (MRS), which provide insights into tissue
function, microstructural changes, and metabolic activity, further enhancing
diagnostic capabilities.
Market
growth is driven by several factors, including the rising prevalence of chronic
diseases such as cardiovascular disorders, cancer, neurological conditions, and
musculoskeletal disorders. The need for early detection and precise treatment
planning has spurred demand for advanced diagnostic imaging technologies such as MRI across urban and rural healthcare facilities. Government initiatives
such as Ayushman Bharat and the National Health Mission aim to improve access to healthcare and infrastructure, encouraging investment in MRI systems
and supporting the expansion of diagnostic capabilities nationwide.
Clinical
applications of MRI span a wide range of specialties in India. Brain and
neurological imaging remains a cornerstone, facilitating the diagnosis of
stroke, brain tumors, multiple sclerosis, and neurodegenerative diseases.
Oncological MRI plays a critical role in tumor detection, staging, and assessment of treatment response, significantly influencing cancer care management. Musculoskeletal MRI is essential for evaluating joint injuries,
spine disorders, and sports-related injuries, providing detailed anatomical and
functional insights crucial for orthopedic treatment planning. Cardiac MRI is used to assess heart structure and function, evaluate myocardial viability, and study cardiac blood flow dynamics, aiding in the diagnosis of
coronary artery disease, cardiomyopathies, and congenital heart defects.
Despite
its growth prospects, the MRI market in India faces challenges such as high
initial capital investment, maintenance costs, and shortage of skilled
professionals. Addressing these challenges requires strategic investments in
training programs, technology upgrades, and regulatory frameworks to ensure
quality standards and patient safety. Opportunities abound to leverage digital health solutions, expand telemedicine services, and integrate MRI
with multimodal imaging technologies to enhance diagnostic accuracy and patient
care outcomes.
Collaborative
efforts among the public and private sectors, academia, and healthcare providers are essential to advancing MRI technology, expanding access for underserved
populations, and driving innovations tailored to local healthcare needs. As the
healthcare landscape continues to evolve, continued investment in MRI
technology and infrastructure development will play a crucial role in improving
healthcare outcomes and meeting the growing demand for advanced diagnostic
imaging across India.
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The India Magnetic
Resonance Imaging Market is segmented into field strength, type, architecture, application,
end user, source, product, regional distribution, and company.
Based on source,
domestic manufacturing is gradually gaining dominance over imports, marking a
significant shift in the sourcing dynamics of MRI systems. Historically, MRI
machines in India were predominantly imported, with leading global
manufacturers supplying high-field MRI systems to meet the growing demand from
healthcare providers nationwide. However, in recent years, there has
been a concerted effort to promote indigenous manufacturing through initiatives such as Make in India, aimed at reducing dependence on imports and
fostering self-sufficiency in advanced medical technology production.
The shift towards
domestic manufacturing of MRI systems in India has been driven by several
strategic factors. Government policies and incentives have encouraged domestic
companies to invest in research, development, and production of MRI equipment.
These initiatives aim to enhance technological capabilities, create local
employment opportunities, and reduce healthcare costs associated with imported
technologies. The production-linked incentive (PLI) scheme introduced by the
government further incentivizes domestic manufacturing of medical devices,
including MRI systems, by offering financial incentives based on production
targets and quality benchmarks. Advancements in domestic manufacturing
capabilities have enabled Indian companies to develop and produce MRI systems
that meet international standards of quality and performance. Domestic
manufacturers have focused on leveraging local engineering expertise, research
collaborations with academic institutions, and technology partnerships with
global leaders to enhance product innovation and competitiveness.
Based on region,
after West India, the Southern region emerges as a significant player in the
India Magnetic Resonance Imaging (MRI) market. Comprising states such as
Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Kerala, the Southern
region is characterized by robust healthcare infrastructure, high healthcare
expenditure, and a concentration of leading hospitals, research institutions,
and diagnostic centers. Key metropolitan cities like Bangalore (Bengaluru),
Chennai, Hyderabad, and Kochi serve as healthcare hubs, attracting patients
from across the region and neighboring states for specialized medical services,
including advanced diagnostic imaging like MRI. These cities host prestigious
medical institutions and corporate hospitals that have invested in
state-of-the-art MRI technology to cater to the growing demand for diagnostic
accuracy and patient care.
The Southern
region's dominance in the MRI market is further bolstered by its proactive adoption of advanced medical technologies and its promotion of healthcare
innovation. Leading healthcare providers in the region have embraced high-field
MRI systems ranging from 1.5 Tesla to 3 Tesla, equipped with advanced imaging
capabilities such as functional MRI (fMRI), diffusion-weighted imaging (DWI),
and cardiac MRI. These technologies enable comprehensive evaluation and
diagnosis across specialties including neurology, oncology, orthopedics,
cardiology, and abdominal imaging. The Southern region benefits from a robust ecosystem that supports research and development in medical imaging technologies.
Academic institutions, research centers, and collaborations between industry
and academia drive innovation in MRI technology, contributing to the region's
leadership in healthcare innovation.
Major companies
operating in India Magnetic Resonance Imaging Market are:
- Siemens Healthcare Private Limited
- Philips India Limited
- Wipro GE Healthcare Private Limited
- Hitachi, Ltd.
- Erbis Engineering Co., Ltd
- Voxelgrids Innovations Private Limited
- Sanrad Medical Systems Private Limited
- Esaote Asia Pacific Diagnostic Private Limited
- Wipro Ge Healthcare Private Limited
- Voxelgrids Innovations Private Limited
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“The future of
the India Magnetic Resonance Imaging (MRI) market holds promising growth
opportunities driven by technological advancements, increasing healthcare
investments, and rising demand for advanced diagnostic capabilities.
Innovations in MRI technology, including higher field strengths, enhanced
imaging modalities, and integration with artificial intelligence, will continue
to improve diagnostic accuracy and patient outcomes. Government initiatives
such as Make in India and production-linked incentives for medical devices are
expected to boost domestic manufacturing, reduce dependence on imports, and foster self-sufficiency. Expanding healthcare infrastructure, particularly
in tier II and tier III cities, will broaden access to MRI services across
diverse geographical regions. Telemedicine and digital health solutions are
likely to complement traditional healthcare delivery models, enhancing
efficiency and accessibility of MRI diagnostics. With a growing focus on
preventive healthcare and personalized medicine, MRI will play an increasingly
integral role in early detection, disease monitoring, and treatment planning,
driving sustained growth in the Indian market.,” said Mr. Karan Chechi,
Research Director, TechSci Research, a research-based management consulting
firm.
“India Magnetic
Resonance Imaging Market By Field Strength (High-Field MRI Systems {1.5T MRI
Systems, 3T MRI Systems}, Low-to-Mid Field MRI Systems {<1.5T MRI Systems},
Others), By Type (Fixed and Mobile), By Architecture (Closed MRI Systems and
Open MRI Systems), By Application (Brain & Neurological, Oncology, Spine
& Musculoskeletal, Abdominal, Cardiac, Others), By End User (Hospitals,
Imaging Centers, Ambulatory Surgical Centers Others), By Source (Import and
Domestic), By Product (Refurbished and New), By Region, Competition, Forecast
& Opportunities, 2020-2030F”,
has evaluated the future growth potential of India Magnetic Resonance Imaging
Market and provides statistics & information on market size, structure and
future market growth. The report aims to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. The report also identifies and analyzes emerging trends, essential drivers, challenges, and opportunities in India's Magnetic Resonance
Imaging Market.
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