Magnetic Resonance Imaging Coils Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F

The Magnetic Resonance Imaging Coils Market was valued at USD 9.14 Billion in 2024, and is expected to reach USD 14.82 Billion by 2030, rising at a CAGR of 8.36%. This growth is fueled by the increasing use of MRI in diagnosing various diseases and the rising prevalence of chronic conditions such as cancer, neurological disorders, and cardiovascular diseases. The aging population is contributing significantly to the demand for non-invasive diagnostic methods. MRI coils, which are essential for enhancing image quality and diagnostic precision, are being increasingly adopted in healthcare facilities.

The rise in high-field and ultra-high-field MRI systems is also boosting market growth. Customized coils such as phased-array, surface, and volume coils are being developed for specific anatomical applications to improve clinical outcomes. Additionally, innovations like AI integration for better imaging, lightweight and flexible coil designs, and the creation of pediatric and organ-specific coils are driving new advancements. Hybrid imaging systems further enhance the demand for versatile coil technologies.

Key Market Drivers

Rising Demand for Accurate and Non-Invasive Diagnostics

The increasing need for precise and non-invasive diagnostic solutions is a major growth driver for the Global Magnetic Resonance Imaging (MRI) Coils Market. In 2023, the U.S. recorded around 40 million MRI scans, while global figures reached between 100 to 150 million annually, underlining a clear trend towards early detection and precision medicine. MRI technology excels at imaging soft tissues and complex anatomical structures without subjecting patients to ionizing radiation, making it a preferred diagnostic tool over X-rays and CT scans.

MRI coils, which handle the transmission and reception of radiofrequency signals, play a crucial role in delivering high-quality images. Innovations in coil design have improved signal-to-noise ratio (SNR), reduced scanning times, and enhanced image clarity. In Canada, as of 2022-2023, over 80% of MRI systems operated at 1.5 T and nearly 18% at 3 T, reflecting an increasing demand for advanced coil systems. Healthcare providers are increasingly adopting tailored coils for brain, cardiac, spinal, and breast imaging to enhance diagnostic performance.

Key Market Challenges

High Cost of MRI Coils and Imaging Systems

A major obstacle in the Global Magnetic Resonance Imaging (MRI) Coils Market is the high cost of both coils and MRI imaging systems. Advanced coils, particularly those suited for high-field and ultra-high-field systems, involve intricate engineering, costly materials, and extensive R&D, which lead to substantial production expenses. These costs are typically transferred to healthcare facilities, making it financially challenging for small and mid-sized hospitals and diagnostic centers to acquire and maintain them. Furthermore, MRI machines themselves are among the most expensive diagnostic tools, with costs ranging from hundreds of thousands to several million dollars depending on system specifications. The need to integrate specialized coils only adds to the financial burden, creating barriers to adoption, especially in settings with limited budgets.

Key Market Trends

Advancement in Coil Technology

Technological advancements in coil design are emerging as a significant trend in the Global Magnetic Resonance Imaging (MRI) Coils Market, enhancing image quality, workflow, and patient experience. Modern coils are increasingly featuring multi-channel and phased-array configurations that deliver superior spatial resolution, faster scans, and improved signal-to-noise performance.

These enhancements enable more accurate visualization of complex structures, crucial in diagnosing diseases across various specialties like neurology, cardiology, orthopedics, and oncology. Demand is rising for application-specific coils - including those for breast, pediatric, spinal, and cardiac imaging - driven by the need for targeted diagnostics. Additionally, lightweight and flexible coil materials are replacing rigid structures, improving patient comfort and positioning during procedures. These innovations are particularly beneficial for patients with limited mobility, children, and those requiring extended scan sessions.

Key Market Players

• GE Healthcare
• Koninklijke Philips N.V.
• Siemens Healthineers AG
• Canon Medical Systems Corporation
• Esaote S.p.A.
• MR Instruments, Inc. (MRIi)
• Rapid MR International, LLC.
• ScanMed, LLC.
• Noras MRI Products GmbH
• Nova Medical

Report Scope:

In this report, the Global Magnetic Resonance Imaging Coils Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Magnetic Resonance Imaging Coils Market, By Type:

• Radiofrequency Coil
• Gradient Coil

Magnetic Resonance Imaging Coils Market, By Application:

• Neurology
• Cardiovascular
• Spine and Musculoskeletal
• Pediatric
• Abdominal
• Others

Magnetic Resonance Imaging Coils Market, By End User:

• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Care Centers
• Others

Magnetic Resonance Imaging Coils Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Magnetic Resonance Imaging Coils Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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