Artificial Intelligence in Magnetic Resonance Imaging (MRI) Global Market Report 2024

The artificial intelligence in magnetic resonance imaging (MRI) market size has grown strongly in recent years. It will grow from $5.65 billion in 2023 to $6.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The expansion observed in the historical period can be ascribed to the increase in data volume, the clinical need for accuracy, the emergence of deep learning algorithms, investments in research and development, and innovations in diagnostic imaging.

The artificial intelligence in magnetic resonance imaging (MRI) market size is expected to see strong growth in the next few years. It will grow to $8.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth in the forecast period is linked to advancements such as AI-enhanced image reconstruction, personalized MRI imaging, AI for lesion detection and classification, heightened MRI automation, and AI-guided MRI protocols. Key trends projected for the forecast period encompass quantitative imaging with AI, AI integration in functional MRI (fMRI), explainable AI in diagnostic interpretation, real-time AI analysis, and AI-based image enhancement.

The growth of the artificial intelligence in magnetic resonance imaging (MRI) market is anticipated to be fueled by the increased number of diagnostic procedures. Diagnostic procedures involve medical tests, examinations, or techniques conducted to identify, evaluate, or confirm the presence of diseases, medical conditions, or abnormalities in patients. The application of artificial intelligence in MRI diagnostic procedures aims to enhance accuracy and efficiency in detecting and characterizing abnormalities, ultimately leading to more precise and timely diagnoses for improved patient outcomes in a shorter timeframe. For example, in March 2023, the National Health Service (NHS), a publicly funded healthcare system in England, reported a rise in the number of patients awaiting critical diagnostic tests, reaching approximately 1,628,300, indicating a 59,400-patient increase from March 2022. Additionally, a total of 2,302,400 diagnostic tests were performed in March 2023, reflecting an increase of 223,100 compared to March 2022. Hence, the increased volume of diagnostic procedures is a key driver for the growth of the artificial intelligence in MRI market.

The growth of the artificial intelligence in magnetic resonance imaging (MRI) market is also expected to be propelled by the rising geriatric population. The term 'geriatric population' refers to the demographic group comprising elderly or older individuals. The integration of artificial intelligence in MRI for the geriatric population holds significant potential to improve diagnostic accuracy, streamline healthcare processes, and enhance overall quality of care for elderly individuals. For instance, in June 2023, the United States Census Bureau, a government agency, reported an increase in the country's median age to 38.9 years in 2022, indicating an ongoing aging trend in the population. Therefore, the growth of the artificial intelligence in MRI market is influenced by the upward trajectory of the geriatric population.


The artificial intelligence in magnetic resonance imaging (MRI) market is witnessing a prominent trend in the advancement of technology. Major companies operating in this market are directing their focus towards technological advancements in AI (artificial intelligence) to address specific demands and maintain their market position. For example, in June 2023, GE HealthCare Technologies Inc., a US-based manufacturing company, introduced Sonic DL, an FDA-cleared AI deep learning technology designed to facilitate faster MRI. This technology is capable of acquiring high-quality magnetic resonance images up to 12 times faster than traditional methods, enabling cardiac imaging within a single heartbeat. It provides extended access for patients with arrhythmias and breath-holding challenges, ensuring swift, consistent, and more comfortable exams, with an impressive up to 83% reduction in scan time for rapid, high-quality MRI.

Major companies in the artificial intelligence in magnetic resonance imaging (MRI) market are also rolling out new products, such as AI-enabled MRI systems, to enhance their market profitability. An AI-enabled MRI system integrates artificial intelligence technologies to improve various aspects of the imaging process. For instance, in August 2023, Fujifilm Healthcare Corporation, a US-based medical technology company, launched ECHELON Synergy. This AI-powered deep learning technology from Fujifilm enhances MRI image quality and speed, with scans shown to be four times faster than standard ones in a study. The ECHELON Synergy prioritizes patient comfort with a large bore and wide table, and Fujifilm's Hydro AG antibacterial coating ensures 99.99% effectiveness against common bacteria, microorganisms, and mold on high-touch surfaces, thereby enhancing safety.

In February 2023, Bayer AG, a Germany-based pharmaceutical company, successfully acquired Blackford Analysis Ltd. for an undisclosed amount. This strategic move aims to strengthen Bayer AG's presence in radiology technology and enhance operational efficiency. Blackford Analysis Ltd., based in the UK, provides a platform for managing multiple imaging applications and AI algorithms through a single system, including magnetic resonance imaging (MRI).

Major companies operating in the artificial intelligence in magnetic resonance imaging (MRI) market report are Intel Corporation, International Business Machines Corporation, Bayer AG, Toshiba Corporation, NVIDIA Corporation, Siemens Healthcare GmbH, Fujifilm Holdings Corporation, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Nuance Communications Inc., Esaote SPA, Paige AI Inc., Orcam Inc., Aidoc Medical, Lunit Inc., Viz.AI Inc., Digital Diagnostics Inc., Owkin Inc., Aurora Imaging Technologies Inc., Quibim SL, Mirada Medical Ltd., Arterys Inc., Imbio LLC, QMENTA, Voxel Technology, Sanrad Medical Systems Pvt ltd, EchoNous Inc., Enlitic Inc., InformAI LLC, Nano X Imaging Ltd.

North America was the largest region in the artificial intelligence in magnetic resonance imaging (MRI) market in 2023. The regions covered in the artificial intelligence in magnetic resonance imaging (MRI) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the artificial intelligence in magnetic resonance imaging (MRI) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary components of artificial intelligence in magnetic resonance imaging (MRI) encompass hardware, software, and services. Hardware refers to the tangible equipment or devices utilized to support the operation of computer systems, specifically aiding in the acceleration of computation-intensive tasks associated with AI algorithms. These algorithms, including deep learning models utilized for image analysis in MRI, utilize technologies such as deep learning, machine learning, computer vision, natural language processing (NLP), speech recognition, querying methods, and others. These technologies are deployed both on-premises and in the cloud, being applied across various clinical applications such as musculoskeletal, colon, prostate, liver, cardiovascular, neurology, lung, breast, and more. The utilization of AI in MRI is prevalent in clinics, research and laboratories, and other relevant settings.

The artificial intelligence in magnetic resonance imaging (MRI) market research report is one of a series of new reports that provides artificial intelligence in magnetic resonance imaging (MRI) market statistics, including artificial intelligence in magnetic resonance imaging (MRI) industry global market size, regional shares, competitors with an artificial intelligence in magnetic resonance imaging (MRI) market share, detailed artificial intelligence in magnetic resonance imaging (MRI) market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence in magnetic resonance imaging (MRI) industry. This artificial intelligence in magnetic resonance imaging (MRI) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The artificial intelligence in magnetic resonance imaging (MRI) market includes revenues earned by entities by providing services such as interpretation services, quantitative analysis, disease detection, and diagnosis services. The market value includes the value of related goods sold by the service provider or included within the service offering. The artificial intelligence in magnetic resonance imaging (MRI) market also includes sales of central processing units, field-programmable gate arrays, application-specific integrated circuits, and graphics processing units. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.