Europe MRI Systems Market

Europe MRI Systems Market Size (2022 to 2027)

The MRI System Market in Europe is expected to grow at a CAGR of 5% and reach USD 1.58 billion in 2027 from USD 1.24 billion in 2022.

The aging population is much likely to be prone to various health issues, and MRI plays a vital role in different treatment procedures. The aging population was significantly growing in Europe and expected to drive the demand for the MRI systems in the European countries. Germany's total population is 83 million in 2019, in which 16.2 million are above 67 years old, and this value is predicted to be increased to 12.4 million by 2040.

Additionally, Y-O-Y increase in chronic diseases such as neurological diseases and other disorders are directly increasing the number of diagnostic procedures, which is predicted to favor the MRI Systems market growth in Europe. Extensive usage of MRI for various medical applications is expected to act as a driving factor for the market growth.

High costs associated with the MRI systems and treatments, unfavorable reimbursement for recent technologies, and shortage of skilled radiologists are expected to challenge the market growth during the forecast period.

This research report on the Europe MRI Systems Market has been segmented and sub-segmented into the following categories:

• By Field Strength: Low-to-Mid-Field, High Field, Very High Field, and Ultra-High Field
• By Architecture: Open MRI and Closed MRI
• By Application: Brain, Spine, Cardiac, Abdominal and Breast
• By Country: United Kingdom, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, and Rest of Europe

Regional Analysis:

Europe is closely following North America in leading the majority of the market share in the global MRI systems market. 

The German MRI Systems Market is estimated to lead the European market among all the other nations during the forecast period. Rising awareness about the advantages provided by the early diagnosis of the disease and advancements in technologies towards healthcare are expected to support the market in Germany.

The UK MRI Systems Market is expected to grow at a prominent rate due to the availability of skilled professional employees for operating the MRI systems. A growing number of hospitals in the UK provide complete MRI scanning procedures. These hospitals are equipped with state-of-the-art MRI scanners to provide a quality life for patient care, heart, lungs, bones, breast, and abdomen are propelling the growth of the UK MRI systems market. 

Other countries such as France, Italy, and Spain are expected to hike at a decent CAGR during the forecast period.

Noteworthy companies operating in the European MRI systems market are Hitachi Medical Corporation, Toshiba Medical Systems, Siemens Healthcare, GE Healthcare, Imris Inc., Fonar Corporation, Esaote S.P.A, Neusoft Medical System, Aurora Medical Imaging, and Philips Healthcare.