Multiparametric magnetic resonance imaging (MRI) is recommended before prostate biopsy to improve the detection of clinically significant prostate cancer (PCa) beyond traditional transrectal ultrasound-guided methods. This study aimed to analyze trends and factors influencing the adoption of MRI-guided prostate biopsies (MRI-Bx) across the United States. Using the Marketscan Database (Commercial and Medicare Claims), researchers reviewed cases from 2012 to 2021, identifying 256,961 men who had a prostate MRI within nine months before a biopsy. Patients with previous diagnoses, treatments, or PCa metastasis prior to biopsy were excluded to focus on new diagnostic patterns. The study revealed that by 2021, MRI-Bx was performed on 27.04% of biopsy-naive, commercially insured patients and 61.85% of those who had prior biopsies. For Medicare patients, MRI-Bx accounted for 27.14% of biopsy-naive cases and 51.89% of those with a biopsy history. Over the study period, MRI-Bx utilization increased twentyfold. Key predictors of MRI-Bx included prior biopsy history, which made men six times more likely to undergo MRI-Bx (Odds Ratio (OR): 6.07, 95% Confidence Interval (CI): 5.25–7.03, p<0.001), and residence in metropolitan areas, associated with nearly double the likelihood of MRI-Bx usage (OR: 1.95, CI: 1.67–2.28, p<0.001). Interestingly, MRI-Bx use was not significantly influenced by insurance type (Medicare vs. commercial) or deductible level (high vs. low). These findings underscore a substantial increase in MRI-Bx adoption, particularly among men with prior biopsy experience or those residing in urban areas, while insurance coverage factors appeared to have minimal impact. This trend points to growing acceptance of MRI-Bx for enhancing prostate cancer detection in at-risk populations.