Refurbished MRI Systems Market To Reach $1.68 Billion By 2030

Refurbished MRI Systems Market Growth & Trends

The global refurbished MRI systems market size is anticipated to reach USD 1.68 billion by 2030, expanding at a CAGR of 10.72% from 2024 to 2030, according to a new report by Grand View Research, Inc. High cost of new MRI systems, growing prevalence of chronic disorders and increasing demand for healthcare services are the major factors contributing to the market growth. High cost of new MRI equipment has prompted many healthcare facilities to adopt more cost-effective alternatives. Refurbished MRI systems provide advanced solutions, helping healthcare providers to leverage advanced imaging technology without imposing a heavy financial burden.

Continuous advancements in MRI technology result in the regular replacement of older systems with advanced devices. This continuous cycle of upgrades ensures a constant availability of used MRI machines that can be refurbished and offered to end-users that may not have the means to invest in the latest models. Budgetary limitations present a prevalent challenge for numerous healthcare facilities, particularly in smaller clinics and underserved regions. Refurbished MRI systems serve as a valuable solution to address this issue, offering a cost-effective way to fulfill the increasing need for diagnostic imaging services.

Furthermore, more accurate diagnosis and treatment planning has become possible due to improvements in MRI image quality and software advancements in MRI systems. This enhancement results from stronger fields, better coils, and more sophisticated picture reconstruction techniques. Faster scanning methods, such as parallel imaging and compressed sensing, have shortened scan times, enhancing patient comfort during MRI treatments while boosting productivity for healthcare facilities.

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Refurbished MRI Systems Market Report Highlights

• Based on architecture, closed systems dominated the market in 2023 by capturing a share of 72.3% as its enclosed design enables precise selection of image slices and ensures error-free analysis

• Based on field strength, the mid field strength segment dominated the market with a share of 46.1%. The high field strength segment is expected to grow at the fastest rate over the forecast period

• Based on end-use, hospitals held a market share of 37.9% in the year 2023. MRI systems require skilled professionals to operate their complex process and high quality and durable equipment available in hospitals

• North America dominated the market with a share of 35.8% in 2023. The market is competitive, with both established companies and emerging players striving to capture market share through product innovation, mergers, acquisitions, and partnerships. Thus, the presence of the key players in this region enhances the industry growth

Refurbished MRI Systems Market Segmentation

Grand View Research has segmented the global refurbished MRI systems market based on architecture, field strength, end-use, and region:

Refurbished MRI Systems Architecture Outlook (Revenue, USD Million, 2018 - 2030)

• Closed System

• Open System

Refurbished MRI Systems Field Strength Outlook (Revenue, USD Million, 2018 - 2030)

• Low Field Strength

• Mid Field Strength

• High Field Strength

Refurbished MRI Systems End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Imaging Centers

• Ambulatory Surgical Centers

• Others

Refurbished MRI Systems Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Refurbished MRI Systems Market

• Koninklijke Philips N.V.

• GE HealthCare

• Siemens Healthcare GmbH

• CANON MEDICAL SYSTEMS CORPORATION

• Avante Health Solutions

• MRI Medical Equipment

• Integrity Medical Systems, Inc.

• Radio Oncology Systems Inc.

• Block Imaging