PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1748650
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1748650
Magnetic Resonance Imaging Coils Market size was valued at US$ 9,118.22 Million in 2024, expanding at a CAGR of 8.54% from 2025 to 2032.
Magnetic Resonance Imaging (MRI) is a technique that creates detailed images of the body's internal organs, tissues, and bones without needing any invasive procedures. It is essential for identifying various medical issues, such as tumors, infections, injuries to joints, and disorders of the spinal cord. An essential part of the MRI system is the MRI coil, responsible for sensing the radiofrequency (RF) signals released from the patient's body while scanning occurs. These coils consist of wires that conduct electricity, designed and positioned to enhance the reception of signals from particular areas of the anatomy. Various kinds of MRI coils exist, with each one created for specific imaging requirements. Typical instances are circularly polarized coils, birdcage coils, and array coils, each of which enhances image quality and accuracy in diagnostics.
Magnetic Resonance Imaging Coils Market- Market Dynamics
The increasing prevalence of chronic diseases, such as neurological & cardiovascular disorders and cancer, is expected to drive the market.
With the rising prevalence of these health issues worldwide, there is an increasing need for sophisticated diagnostic imaging technologies that facilitate early identification, precise diagnosis, and efficient treatment strategies. The quality and resolution of images are greatly improved by MRI coils, which are vital for diagnosing and tracking complicated chronic conditions. The Centers for Disease Control and Prevention states that in the United States, the primary contributors to death and disability are chronic illnesses like heart disease, cancer, and diabetes. They also play a significant role in the country's annual health care expenses, which total $4. 5 trillion. Sixty percent of Americans suffer from a chronic disease, while forty percent have two or more chronic conditions. Additionally, the increasing use of MRI in outpatient and ambulatory environments could create chances for market expansion. Nevertheless, the growth of the market may be hindered by Technological Complexity.
Magnetic Resonance Imaging Coils Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.54% over the forecast period (2025-2032)
Based on Type segmentation, Radiofrequency (RF) Coils were predicted to show maximum market share in the year 2024
Based on application segmentation, neurology was the leading application in 2024
Based on End-User segmentation, Hospitals were the leading End-User in 2024
Based on region, North America was the leading revenue generator in 2024
The Global Magnetic Resonance Imaging Coils Market is segmented based on Type, Application, End-User, Distribution Channel, and Region.
The market is divided into two primary categories: Gradient Coils and Radiofrequency (RF) Coils, with the RF Coil category driving the growth in the market. RF coils are essential for both sending and receiving radiofrequency signals, which makes them a key part of MRI systems. The quality of their performance directly affects both the clarity of the image and the accuracy of the diagnosis. RF coils find extensive use in various clinical domains such as neurology, musculoskeletal imaging, spine, and cardiac MRI. Their flexibility and ability to adapt to both general and specialized imaging needs contribute to this widespread application. The growth of the segment is propelled by ongoing technological advancements, including the creation of multi-channel and phased-array coils that improve spatial resolution and greatly boost scanning efficiency and speed.
The segmentation of the market occurs into five main categories according to the Application: Neurology, Cardiovascular, Spine and Musculoskeletal, Pediatric, Breast, Abdominal, and Others. The growth of the market is primarily led by neurology. For neurological assessments, MRI is the imaging technique of choice owing to its excellent contrast for soft tissues, its non-invasive nature, and the absence of ionizing radiation. Coils such as head coils and neurovascular coils, which belong to the category of radiofrequency coils, are widely utilized in conducting highly accurate brain imaging. The MRI coils market is primarily driven by the increasing prevalence of neurological disorders, advancements in technology, and the demand for precise diagnostic tools, with neurology being the foremost application segment contributing to this growth.
The market is segmented into four categories by the End-User: Hospitals, Diagnostic Imaging Centers, Ambulatory Care Centers, and Other entities. The growth in the market is led by the segment of Hospitals. Hospitals cater to a significant volume of patients requiring advanced imaging for a range of concerns, including those related to the brain, muscles and bones, heart, and cancer. Ongoing demand for precise diagnoses and smooth patient movement necessitates the utilization of advanced MRI coils. Hospitals that specialize in tertiary care and specific services are particularly inclined to invest in cutting-edge MRI machines that feature the latest coil technologies. Hospitals employ expert personnel who can operate sophisticated MRI devices and interpret complex imaging outcomes, thereby improving the effectiveness of contemporary coil systems. The rising demand for MRI coils in this field is being fueled by the ongoing expansion of radiology departments and the greater number of MRI machines being set up on-site.
The market can be divided into two categories based on Distribution Channel: Retail Sales and Direct Tenders. Direct Tenders have a major share, especially in sizable healthcare systems and public institutions, because of their organized procurement methods and larger scale. Public hospitals and large private healthcare providers frequently use this channel, particularly in developing areas where public health infrastructure is actively supported by government initiatives. Conversely, Retail Sales are crucial for private diagnostic operators and smaller healthcare facilities that need adaptable and personalized purchasing solutions. Small to medium-sized private clinics, imaging centers, and independent diagnostic facilities usually prefer this channel, as they do not participate in large-scale purchasing through tendering processes.
Magnetic Resonance Imaging Coils Market- Geographical Insights
The growth of the market is largely led by North America, due to its developed healthcare infrastructure and a strong acceptance of medical technologies. A strong healthcare system is present in the region, featuring many top hospitals, diagnostic facilities, and research organizations that regularly invest in advanced imaging technology. As stated by the American Medical Association, expenditures on health in the United States. Rose by 7. 5% in 2023, reaching USD4. 9 trillion, which is USD14, 570 for each person. Europe also plays an important role in the MRI coils market, featuring robust healthcare systems, particularly in nations such as Germany, the UK, France, and Italy.
There is intense rivalry in the MRI coils market, with major companies dedicated to improving image quality, shortening scan durations, and increasing patient comfort. The fast pace of technological advancements, the rising need for high-quality imaging, and the continued growth of healthcare facilities, particularly in developing regions, drive this competitive landscape. Leading firms are focusing on creating next-generation MRI coils that feature increased channel counts, improved signal-to-noise ratios (SNR), and better compatibility with state-of-the-art MRI systems. Important advancements like coil designs that are lightweight, flexible, and shaped to fit the body are essential in setting products apart and increasing market presence.
To take advantage of increasing demand, especially in emerging areas, leading companies are broadening their reach by establishing robust distribution networks and creating strategic alliances with local partners. With the increasing demand for advanced imaging solutions worldwide, the competition in the market for MRI coils is anticipated to become even fiercer.
Nov. 13, 2024 GE HealthCare has obtained FDA 510(k) approval for its advanced SIGNA MAGNUS, a 3. 0T high-efficiency MRI scanner designed specifically for head imaging. This system provides enhanced functions for clinical imaging and neuroscience, potentially assisting in identifying neurological, oncological, and psychiatric disorders.
Siemens Healthineers enhances the 1. 5 Tesla Magnetom Flow. A new magnetic resonance imaging (MRI) scanner with a 70-centimeter bore will be introduced at RSNA 2024 as part of the platform.