Magnetic Particle Imaging Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Magnetic Resonance Imaging, Positron Emission Tomography, MPI Scanner & CT, and Others), By Application (Cancer Diagnosis, Neuro Imaging, Trauma Imaging, Vascular Imaging, Perfusion Imaging, Cell Tracking, Inflammation Imaging, Others), By End-User (Hospitals, Diagnostic Centres, Specialty Clinics, Others) and Region Forecast 2020-2031

Magnetic Particle Imaging Market size was valued at US$ 166.8 million in 2024 and is expected to reach US$ 855.3 million by 2031, growing at a significant CAGR of 26.3% from 2025-2031. Moreover, the U.S. Global Magnetic Particle Imaging Market is projected to grow significantly, reaching an estimated value of US$ 248.9 Million by 2031. Magnetic Particle Imaging (MPI) is an advanced imaging technique that uses magnetic fields to capture high-resolution, real-time images of the body's internal structures. Unlike traditional imaging methods such as MRI or X-ray, MPI utilizes superparamagnetic nanoparticles as tracers to generate detailed images without the need for harmful ionizing radiation. The technology offers high spatial and temporal resolution, enabling real-time imaging for medical applications, particularly in the fields of oncology, neurology, and cardiovascular diagnostics.

The market is rapidly evolving, driven by increasing demand for non-invasive imaging techniques that offer superior resolution and safety compared to conventional methods. The market is gaining momentum due to the ability of MPI to provide high-quality, real-time imaging without the risks associated with radiation exposure. Key applications of MPI include diagnostic imaging for early disease detection, therapeutic monitoring, and pre-surgical planning. The growing focus on personalized medicine, combined with advancements in MPI technology, is expected to fuel market growth.

Facts and Figures

• Superior Signal Strength: MPI detects electronic super para magnetism, which is approximately 22 million times stronger than the nuclear magnetization detected by MRI. This significant difference contributes to MPI's enhanced sensitivity and specificity in imaging applications. ?
• Clear Imaging Without Background Noise: MPI provides high-contrast images with zero tissue background signal, enabling clearer visualization of target areas. This feature is particularly advantageous in cancer imaging, where precise delineation of tumours is critical. 

Key Developments:

• In January 2025, A collaborative team from the University of California, Berkeley, and Stanford University announced the successful development of a portable MPI scanner prototype. This advancement aims to make MPI technology more accessible for point-of-care diagnostics, particularly in remote or underserved areas. The portable scanner maintains high-resolution imaging capabilities while significantly reducing the size and cost compared to traditional MPI systems.?
• In October 2024, NanoImaging Solutions, a leading nanotechnology firm, unveiled a new generation of superparamagnetic iron oxide nanoparticles (SPIONs) optimized for MPI applications. These SPIONs exhibit enhanced magnetic properties, improving image clarity and resolution. The development is expected to accelerate the adoption of MPI in clinical settings by providing more accurate and reliable imaging results.

Magnetic Particle Imaging Market Segmentation:

Based on the product type:

• Magnetic Resonance Imaging
• Positron Emission Tomography
• MPI Scanner
• CT
• Others

Among the product types, MPI Scanners are anticipated to lead the market due to their rising significance as a breakthrough imaging technology offering high-resolution, real-time, and radiation-free diagnostics. As healthcare providers increasingly prioritize non-invasive imaging methods, MPI scanners present a safer alternative compared to traditional CT and PET scans, especially in sensitive applications such as cardiovascular imaging and pediatric diagnostics. Furthermore, the ability of MPI to track magnetic nanoparticles with superior contrast and without background noise significantly enhances its clinical value. Research institutions and imaging technology developers are investing in the development of compact and efficient MPI scanners, indicating strong commercial potential and adoption ahead.

Based on the application:

• Cancer Diagnosis
• Neuro Imaging
• Trauma Imaging
• Vascular Imaging
• Perfusion Imaging
• Cell Tracking
• Inflammation Imaging
• Others

Among the applications, cancer diagnosis is anticipated to lead the magnetic particle imaging (MPI) market due to the growing global burden of cancer and the urgent need for more accurate, early-stage diagnostic tools. MPI offers high sensitivity in detecting tumours using superparamagnetic nanoparticles, providing clear images without radiation exposure. This makes it especially beneficial in tracking cancer progression and evaluating treatment response. Its real-time imaging capability enables clinicians to detect even minute cancerous changes with precision. As demand for personalized and non-invasive diagnostic techniques rises, MPI’s advantages in oncology make it a key driver for market growth in cancer diagnosis applications.

Based on the end user:

• Hospitals
• Diagnostic Centres
• Specialty Clinics
• Others

Based on the end user, the hospitals segment is anticipated to lead the Magnetic Particle Imaging (MPI) market due to their advanced infrastructure, high patient inflow, and greater capacity for adopting cutting-edge imaging technologies. Hospitals are increasingly integrating MPI systems into their diagnostic departments to enhance imaging accuracy, particularly for complex conditions like cancer and neurological disorders. The presence of multidisciplinary teams in hospital settings further supports the interpretation and application of MPI findings in clinical decision-making. Additionally, the increasing investments in hospital-based research and advanced diagnostic solutions contribute to the dominance of this segment in the overall market landscape.