2030: India Magnetic Resonance Imaging (MRI) Market: Where Technology Meets Healthcare Demand

Market Outlook

The India Magnetic Resonance Imaging (MRI) Market was valued at USD 259.05 million in 2024. The market is expected to increase to USD 346.82 million by 2030, which is registering CAGR of 4.81 percent over the period 2025-2030. This market is indicative of the increasing adoption of modern diagnostic imaging methods in Indian healthcare facilities. The current valuation underscores the growing awareness among healthcare professionals and patients about the diagnostic advantages offered by MRI technology, particularly for medical conditions that necessitate precise imaging of soft tissues.

The steady growth trend is likely to be caused by factors such as the increasing number of chronic illnesses, the expanding healthcare infrastructure, as well as the growing awareness among the population of the importance of early and accurate disease diagnosis.

Research Objectives

To study and forecast the size of the India Magnetic Resonance Imaging (MRI) Market.
To define and forecast the India Magnetic Resonance Imaging (MRI) Market by strength of field type, architecture, application, user source, product and the region.
To identify the main drivers and issues in the India Magnetic Resonance Imaging (MRI) Market.
To study competitive developments like expansions or new product launches, mergers and acquisitions. In the India Magnetic Resonance Imaging (MRI) Market.
To determine and analyze the profiles of major companies operating in the India Magnetic Resonance Imaging (MRI) Market.

Assumptions

The market value estimates are using secondary and primary research, and may fluctuation.
The forecast time frame for market analysis spans from 2025 until 2030.
The government's policies and initiatives will continue aid the modernization and expansion of the infrastructure for healthcare.
Technological advances within MRI technology will only enhance diagnostic capabilities and lower costs.
The incidence of lifestyle-related and chronic illnesses will continue to increase which will drive demand for more advanced diagnostics.

Browse market data Figures spread through 180 Pages and an in-depth TOC on "India Magnetic Resonance Imaging Market” - https://www.techsciresearch.com/report/india-magnetic-resonance-imaging-market/11716.html

Market Driver Analysis

The India Magnetic Resonance Imaging (MRI) Market is primarily driven by the growing burden of lifestyle-related chronic illnesses, requiring advanced diagnostic tools to ensure accuracy and timely detection. The increasing prevalence of diseases like cardiovascular diseases, neurological disorders, as well as various cancers in India is a significant cause. For instance neurological disorders affect approximately 10 percent of the Indian population, and cancer cases have increased by around 12% in the past five years. This increase in the prevalence of diseases is a major reason for the need for advanced imaging techniques such as MRI. Additionally, the rapid growth and improvement of the healthcare infrastructures, particularly in Tier 2 and Tier 3 cities, is making MRI available to more people. The number of centers equipped with the latest imaging techniques has increased by more than 15% over the last three years, indicating an expanding reach. The rising healthcare costs of both private and public sectors, in conjunction with increasing insurance coverage, have also made high-cost diagnosis procedures affordable to an increasing portion of people. The growing awareness among healthcare professionals of the benefits of early diagnosis to improve treatment outcomes also drives the use of MRI technology.

Market Trends Analysis

Certain key trends are shaping the India Magnetic Resonance Imaging (MRI) Market, reflecting both technological advancements and changing health care delivery models. One notable trend is the rising use of high-field MRI systems (3T and above) due to their higher resolution and speed of scanning. Healthcare professionals are investing in modern systems to improve the accuracy of diagnosis particularly in the more complicated neurological and oncological conditions. Another important trend is the increasing use of Artificial Intelligence (AI) and machine learning into MRI workflows. AI-powered tools are being utilized to reconstruct images, analyze, and interpret, which leads to faster diagnosis, decreased time to scan, and increased accuracy in diagnosing. This is especially advantageous in a country such as India where a large number of patients requires efficiency. In addition, there is a growing demand for smaller and more cost-effective MRI systems, specifically for smaller diagnostic centers and hospitals in rural and semi-urban regions, making MRI technology accessible than in large metropolitan cities. The advent of mobile MRI units is a significant trend which allows diagnostic services to be delivered to remote areas and serve areas that have the most limited fixed infrastructure.

Market Challenges Analysis

Despite its potential growth however, the India Magnetic Resonance Imaging (MRI) Market is facing some significant obstacles. The high expense of capital with the acquisition and maintenance of MRI systems is a major obstacle, particularly for smaller healthcare facilities and those located in developing regions. The high cost of investment often results into higher costs for scanning patients, and limiting access for a large percentage of people. Additionally, the shortage of highly skilled professionals, such as qualified radiologists and MRI technicians, poses a significant challenge. The demand for trained staff often exceeds the supply, resulting in operational inefficiencies and possible delays in diagnosing. A fierce competition in the pricing of diagnostic centers, along with different reimbursement policies can also impact profits for MRI service providers. In addition, the absence of uniform regulations for Diagnostic imaging centers in the nation can cause inconsistencies in the quality of services and operating guidelines, which can hinder an even growth in the market.

Segmentations

India Magnetic Resonance Imaging Market, By Field Strength:

High-Field MRI Systems
Low-to-Mid Field MRI System
Others

India Magnetic Resonance Imaging Market, By Type:

Fixed
Mobile

India Magnetic Resonance Imaging Market, By Architecture:

Closed MRI Systems
Open MRI Systems

India Magnetic Resonance Imaging Market, By Application:

Brain & Neurological
Oncology
Spine & Musculoskeletal
Abdominal
Cardiac
Others

India Magnetic Resonance Imaging Market, By End User:

Hospitals
Imaging Centers
Ambulatory Surgical Centers
Others

India Magnetic Resonance Imaging Market, By Source:

Import
Domestic

India Magnetic Resonance Imaging Market, By Product:

Refurbished
New

Regional Analysis

The India Magnetic Resonance Imaging (MRI) Market is characterized by distinct regional differences with a substantial concentration of modern MRI equipment and greater rates of adoption across the Western and Southern regions. The Western region, with particular states such as Maharashtra and Gujarat which lead the market because of its extensive healthcare infrastructure and higher disposable incomes and a larger quantity of private hospitals and diagnostic centers. Mumbai and Pune for instance contain a significant portion of high-field MRI systems, which reflect the need for advanced diagnostics. In the same way the Southern region, which includes states such as Karnataka, Tamil Nadu, and Andhra Pradesh, is a significant contributor, aided by its status as a medical tourism center as well as the existence of a number of super-specialty hospitals. Cities such as Bengaluru, Chennai, and Hyderabad have seen an impressive rise in MRI installations, with more than 20 percent growth in the number of advanced imaging centers over the past five years.

The Northern and Eastern regions are also experiencing steady growth, albeit at a slower rate, as healthcare infrastructure expands and knowledge of the latest diagnostics increases. Government initiatives that aim to improve access to healthcare in rural areas by forming public-private partnerships will increase MRI use within these regions. While the major metropolitan areas are dominant in terms of revenue and installed base however, the demand for Tier 2 and 3 cities is slowly growing, which suggests the decentralization of medical services across the nation. This is backed by the rise of smaller, less expensive MRI devices and mobile units that are designed to provide a greater geographic area.

Analyst View on Industry and Growth

The analyst's perspective on the Indian Magnetic Resonance Imaging (MRI) Market is cautiously optimistic, anticipating steady growth driven by the rising incidence of chronic diseases and the ongoing expansion of the healthcare infrastructure. Although the high capital cost of MRI systems and the scarcity of qualified professionals pose some challenges, the need for non-invasive and accurate diagnostic imaging remains high. Technological advancements, especially those related to AI integration and the development of more affordable systems, are expected to alleviate some of these issues. The market is poised to grow as healthcare spending increases and awareness of early disease diagnosis rises, establishing MRI as a vital tool in India's evolving healthcare system.

TechSci Research Opportunity Map

The TechSci Research Opportunity Map for the India MRI Market will visually highlight key areas of strategic growth and investment. It will highlight the substantial opportunities for growth in Tier 2 and Tier 3 cities, where healthcare infrastructure is expanding and demand for high-end diagnostics is increasing, and suggest the potential to install new low- to mid-field, or mobile MRI systems. The map will also highlight expanding application areas, such as neurology and oncology, which indicate the areas where specific MRI solutions and sophisticated software could gain significant market popularity. Additionally, it would highlight the growing demand for refurbishing MRI equipment as an affordable option for smaller healthcare facilities, providing an opportunity for companies specializing in this area. The opportunity map will also highlight the need for education and skill development programs for technicians and radiologists and offer a business opportunity.

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Top Active Key Players in India MRI Market

Siemens Healthcare Private Limited

CEO: Vivek Kanade (Managing Director, as of 2023).
Headquarters: Unit No. 9A, 9th Floor, North Tower, Godrej One, Pirojshanagar, Eastern Express Highway, Vikhroli East, Mumbai - 400 079, India. Global headquarters in Erlangen, Germany.
Establishment Date Siemens Healthcare Private Limited's precise date of its establishment in India isn't specific. However, Siemens Healthineers has been active in India for more than six decades and has seen significant growth in the years 2010 and beyond. In the world, Siemens Healthineers was spun away from Siemens AG in 2017, with its origins dating back to 1847.
MRI Development in India:
- Siemens Healthineers is a market leader in diagnostic imaging, making MRI systems such as MAGNETOM Free.Star, which is a compact, helium-free scanner that utilizes DryCool technology, was made in Bengaluru in 2023 under the Indian Government's Production Linked Incentive (PLI) scheme.
- The Bengaluru facility, which is approved by the PLI scheme's Radiology and Imaging segment, makes MRI and CT machines with the aid of a Rs91.9 crore investment assisting "Make in India" and export growth.
- Siemens invested over Rs.1,300 crore in the Bengaluru campus to support R&D manufacturing, manufacturing, as well as innovation, with a focus on entry-level MRI products that improve access to healthcare.
- MagNETOM Free. Star provides high-quality images for the most common diseases and offers more ease of installation and long-term sustainability, which is in line with India's growing market for medical devices.

Philips India Limited

CEO: Global CEO of Royal Philips is Roy Jakobs (as of 2022).
Headquarters: 3rd Floor, Tower D, DLF IT Park, 08, Major Arterial Road, Block AF, New Town, Kolkata - 700156, India. Global headquarters located in Amsterdam, Netherlands.
Date of Establishment: Established in 1930 under the name Philips Electrical Co. (India) Ltd., rebranded over time, and now has more than 90 years of existence in India.
MRI Development in India:
- Philips is a world-class pioneer in medical imaging, providing MRI systems such as Ingenia Ambition and BlueSeal with low-helium technology to ensure accessibility and sustainability.
- There is no specific MRI manufacturing facility is in India Systems are likely to be purchased or assembled through partnerships and distributed to healthcare professionals.
- Philips invests in AI-based digital health and imaging in order to increase diagnostic accuracy and meet demands in cities that are tier 2 and urban.
- In India, it is a major contributor to the $1.2 billion market for medical imaging (2023) However, specific production or R&D details in India aren't available.

Wipro GE Healthcare Private Limited

CEO: Chaitanya Sarawate (Managing Director, as of 2024).
Headquarters: Plot No. 4, Kadugodi Sadaramangala Industrial Area, Kadugodi, Bengaluru - 560067, Karnataka, India. The headquarters of the global company (GE Healthcare) located in Chicago, USA.
Establishment Date: It was established in 1990 as an alliance that was formed between Wipro Enterprises Limited and GE Precision Healthcare LLC.
MRI Development in India:
- The country's largest player in the market for medical imaging, producing MRI equipment as well as MR coils in four Bengaluru factories, which includes a facility that was inaugurated in March 2022 as part of the PLI scheme, which has more than 100 crore invested.
- In 2024, the government announced an investment of Rs8,000 crore over five years in manufacturing and R&D. This includes MRI coils and other systems, such as Signa Explorer 1.5T and Signa Voyager, exported globally.
- It focuses on high-definition imaging to provide complete clinical applications that address the needs of diagnosis and treatment planning.
- Operates an R&D facility in India for more than three decades, and has developed affordable MRI solutions to help India achieve its ambition of becoming a global MedTech hub.

Hitachi, Ltd.

CEO: Keiji Kojima (President and CEO, as of 2025).
Headquarters 414/2, Sahas, Veer Savarkar Marg, Prabhadevi, Mumbai 400025 Maharashtra, India (for Hitachi Medical Corporation activities). Global headquarters is located in Tokyo, Japan.
Established Date: Globally in 1910. Hitachi Medical Corporation began India operations in the 1990s via partnerships.
MRI Development in India:
- Hitachi is the first company to introduce permanent magnet technology that is suitable for open MRI systems (0.2 to 0.4 Tesla), offering user-friendly designs such as AIRIS as well as APERTO.
- There is no specific MRI manufacturing facility exists in India. Systems are imported and then distributed via local partners.
- It focuses on low-cost, compact MRI solutions for tier-2 and Tier-3 cities that address India's diverse health requirements.
- Limited R&D details are available in India. However, Hitachi's global experience supports its position in the market for diagnostic imaging.

Erbis Engineering Co., Ltd

Headquarters: Not specified for India operations; most likely is handled by distributors located in Mumbai or Bengaluru. Global headquarters are located in Tokyo, Japan.
Establishment Date: Globally founded in the year 1958. India operations probably began in the post-1990s through partnerships.
MRI Development in India:
- Erbis is a medical equipment distributor that includes MRI systems, usually representing brands such as Hitachi.
- There is no evidence to suggest MRI manufacturing or R&D in India and focuses on distribution and imports.
- Aids in India's MRI market by providing equipment to hospitals, even though the specific designs or developments aren't fully described.

Voxelgrids Innovations Private Limited

CEO: Arjun Arunachalam (Founder and CEO in the latest updates).
Headquarters: Bengaluru, Karnataka, India (exact address not specified).
Establishment Date: Founded in 2018.
MRI Development in India:
- Indian startup is developing indigenous, affordable 1.5T MRI scanners to improve accessibility to healthcare.
- Design and makes scanners in India that provide high-quality images at a lower cost than systems imported.
- The company focuses on compact, Helium-free MRI technology that can reduce operating costs and permit installations in smaller hospitals.
- Funded by "Make in India" and India's startup ecosystem, Voxelgrids aims to reduce dependence on imports on the $1.2 billion market for imaging.

Sanrad Medical Systems Private Limited

Headquarters: B 120, Kubernagar, Ahmedabad - 382340, Gujarat, India.
Establishment Date: Founded in 2003.
MRI Development in India:
- The company specializes in new and refurbished MRI systems, and also provides 1.5T scanners such as Siemens Magnetom Avanto and GE Signa models.
- There is no internal MRI manufacturing facility or R&D concentrates on installation, distribution, and maintenance.
- Enhances MRI accessibility through cost-effectively refurbished systems that are suitable for India's price-sensitive market.
- Partnering with major brands worldwide to support and provide MRI machines, which support diagnosis in tier-2 and tier-3 cities.

Esaote Asia Pacific Diagnostic Private Limited

CEO: Global CEO of Esaote S.p.A. is Franco Fontana.
Headquarters: Not listed for India It is likely that it is based in Mumbai or Delhi. Global headquarters are in Genoa, Italy.
The company was established in 1982. India operations are likely to have begun in the early 2000s.
MRI Development in India:
- The company specializes in ultrasound and muscles and skeletal MRI systems such as G-scan Brio as well as O-scan for imaging of the extremities.
- There is no MRI manufacturing facility in India Systems are imported and distributed to hospitals and clinics.
- Provides small, niche MRI solutions for special clinics with a small market share when compared with Siemens or GE.
- Helps in the market for diagnostic imaging in India by using specific to the application MRI systems.

Future Outlook

Increased accessibility: Growth of mobile MRI units and more affordable devices to reach rural and remote areas.
AI Integration Expansion Wider use of AI to speed up image processing, improved diagnostics and workflow improvement.
Concentrate on Specialized Applications Demand is increasing for MRI in specific applications such as cardiac imaging functional MRI as well as interventional MRI.
The rise of Public-Private Partnerships (PPPs): Increased collaboration between private and government players to increase MRI services.
Technological advancements: Continuous innovation in coil technology as well as magnet strength and software for better image quality and comfort for patients.
Demand for Refurbished Systems A constant demand for renovated MRI devices as a cost-effective option for smaller facilities.
Skill Development Programmes: Greater emphasis placed on the education and certification of radiologists and technicians to fill the void of highly skilled professionals.
Preventive Healthcare Focus: Growing awareness about early diagnosis will fuel the demand for regular MRI screenings.
Local Manufacturing Push The government is taking initiatives to increase the production of domestic MRI parts and systems in order to reduce the dependence on imports.
Tele-Radiology Growth Expanding tele-radiology services that allow experts to interpret MRI scans from distant locations.

FAQs Related to Industry

Que - What was the market size of the India Magnetic Resonance Imaging (MRI) Market in 2024?

Ans - The India Magnetic Resonance Imaging Market was valued at USD 259.05 million in 2024.

Que - Which field strength segment is anticipated to dominate the India MRI Market?

Ans - High-Field MRI Systems are anticipated to dominate due to their superior image resolution and diagnostic capabilities.

Que - Which application segment shows significant growth potential in the India MRI Market?

Ans - Brain & Neurological and Oncology applications are expected to show significant growth potential due to the rising prevalence of these conditions.

Que - Which end-user segment holds the largest share in the India MRI Market?

Ans - Hospitals and Imaging Centers collectively hold the largest share as primary providers of MRI services.

Que - What are the main drivers for the growth of the India MRI Market?

Ans - The main drivers include the increasing prevalence of chronic diseases, expanding healthcare infrastructure, and rising awareness about early and accurate disease diagnosis.

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