The Global MRI Coils Market was valued at USD 9.26 billion in 2024 and is projected to reach USD 18.18 billion by 2033, growing at a CAGR of 8.1% during the forecast period 2025-2033. The market expansion is driven by the increasing demand for advanced diagnostic imaging, rising prevalence of chronic diseases, and technological advancements in MRI coil design.
MRI coils are essential components in Magnetic Resonance Imaging (MRI) systems, serving as specialized antennas that enhance image quality by detecting radiofrequency (RF) signals emitted by atomic nuclei within the body. As healthcare institutions prioritize high-resolution imaging for early disease detection, MRI coil innovations such as AI-integrated coils, high-field MRI systems (3T & 7T), and flexible coil designs are transforming diagnostic capabilities.
This report provides a detailed analysis of market trends, segmentation, regional insights, key players, and emerging opportunities, offering stakeholders critical insights into the evolving MRI coils market.
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Market Size and Growth
- 2024 Market Value: USD 9.26 billion
- 2033 Projected Market Value: USD 18.18 billion
- CAGR (2025-2033): 8.1%
Key Market Trends
- Growing Demand for High-Resolution MRI Imaging
- Increased prevalence of cardiovascular diseases, cancer, and neurological disorders is fueling demand for advanced diagnostic tools.
- MRI technology advancements enable faster, clearer, and more detailed imaging.
- Technological Innovations in MRI Coils
- Introduction of AI-powered MRI coils enhances imaging efficiency and reduces scan time.
- Development of ultra-lightweight, flexible, and high-SNR (Signal-to-Noise Ratio) coils improves patient comfort and diagnostic accuracy.
- 3T & 7T MRI systems are revolutionizing imaging capabilities, particularly in neurology and musculoskeletal imaging.
- Rising Prevalence of Chronic Diseases
- Cardiovascular diseases, cancer, osteoporosis, and respiratory conditions are driving the need for detailed MRI scans.
- According to the CDC, 20.1 million U.S. adults have coronary artery disease, increasing demand for cardiac MRI imaging.
- Expanding Healthcare Investments and Approvals
- Regulatory approvals for new MRI coil products are accelerating market growth.
- Example: Royal Philips launched new MR Smart Fit coils (November 2023), improving image resolution and diagnostic confidence.
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Market Dynamics
1. Increasing Demand for MRI Coils in Advanced Diagnostic Imaging
- MRI remains the gold standard for non-invasive imaging, with increasing adoption in neurology, cardiology, musculoskeletal, and cancer diagnostics.
- Global disease burden is rising, necessitating accurate, early-stage diagnostics using MRI technology.
- Example: The World Health Organization (WHO, 2023) reported that more than 31.4 million global deaths occur due to chronic diseases, underscoring the need for advanced diagnostic imaging.
2. Technological Innovations Enhancing MRI Efficiency
- MRI manufacturers are integrating AI-driven solutions for improved image quality and faster scan times.
- 3T and 7T high-field MRI systems are offering sharper, high-resolution imaging, benefiting neurological and musculoskeletal diagnostics.
- Example: In May 2024, researchers at the German Cancer Research Center developed an RF coil with minimal ion attenuation, improving MRI imaging for cancer diagnosis.
3. High Costs of MRI Coils Hindering Market Growth
- Cost of purchasing and maintaining MRI coils is substantial, ranging from USD 12,000 to USD 120,000 for new coils and USD 3,000 to USD 25,000 for refurbished models.
- Healthcare facilities in developing regions face budgetary constraints, limiting MRI coil adoption.
- Example: Many hospitals in low-income countries opt for refurbished coils over new ones, slowing the adoption of next-generation MRI technology.
Market Segmentation
By Coil Type:
- Radiofrequency Coils (Largest Segment)
- Gradient Coils
- Surface Coils
- Others
By Application:
- Neurology
- Cardiovascular Imaging
- Spine & Musculoskeletal
- Pediatric Imaging
- Breast MRI
- Abdominal Imaging
- Others
By End-User:
- Hospitals
- Diagnostic Imaging Centers
- Others
By Region:
- North America (Largest Market Share)
- Europe
- Asia-Pacific (Fastest Growing Region)
- South America
- Middle East & Africa
Regional Insights
1. North America – Market Leader
- Advanced healthcare infrastructure and high adoption rates of MRI technology drive market growth.
- Rising incidence of chronic diseases increases demand for MRI diagnostics.
- Example: In 2024, the National Institute of Health projected 2 million new cancer cases in the U.S., reinforcing the need for MRI-based cancer screening.
- Major Investments: In June 2024, Promaxo received funding from Zynext Ventures to expand its MRI technology development.
2. Asia-Pacific – Fastest Growing Region
- Rising healthcare investments, growing patient population, and increasing chronic disease cases fuel MRI coil adoption.
- Example: In India, 1 in 9 individuals is at risk of developing cancer (NIH, 2022), driving MRI demand in oncology.
- Manufacturing Hubs: Countries like China and India are leading MRI equipment production, offering cost-effective solutions.
3. Europe – Strong Technological Advancements
- European regulatory approvals for new MRI coil technologies are driving market expansion.
- Example: In November 2024, Polarean Imaging received FDA clearance for its XENOVIEW 3T chest coil, designed for lung imaging with hyperpolarized Xenon-129.
Key Market Players:
- GE HealthCare
- Koninklijke Philips N.V.
- Siemens Healthcare Private Limited
- Canon Medical Systems
- Esaote SPA
- MR Instruments, Inc.
- RAPID MR International
- ScanMed, LLC
- Bruker
- Tesla Engineering Ltd
Emerging Players:
- Innovatus Imaging
- Time Medical Holding Co Ltd
Key Market Developments
1. New MRI Coil Product Approvals & Investments
- November 2024: Polarean Imaging PLC received FDA 510(k) clearance for its XENOVIEW 3T chest coil, compatible with GE HealthCare MRI systems.
- May 2024: Siemens Healthineers invested $314 million to establish a new MRI manufacturing facility in the UK.
Why Purchase This Report?
✔ Comprehensive Market Insights: Breakdown by coil type, application, end-user, and region.
✔ Competitive Analysis: Profiles of key players, emerging competitors, and recent innovations.
✔ Regulatory & Pricing Trends: Insights into pricing models and reimbursement strategies.
✔ Industry Data & Forecasts: Market projections, technological advancements, and investment opportunities.
✔ Healthcare Impact Analysis: Examination of real-world applications and adoption trends.
Target Audience (2025-2033)
- Medical Device Manufacturers & Distributors
- Hospitals & Diagnostic Centers
- Healthcare Investors & Venture Capitalists
- Regulatory Agencies & Policymakers
- Medical Imaging Technologists & Researchers
Contact Us
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