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Report Overview

The global magnetic resonance imaging coils market size was valued at USD 9.10 Billion in 2024, driven by the increasing demand for medical diagnostics across the globe. The market is expected to grow at a CAGR of 8.10% during the forecast period of 2025-2034, with the values likely to rise from USD 9.8 Billion in 2025 to USD 19.83 Billion by 2034.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Compound Annual Growth Rate

Value in USD Billion

8.1%

2025-2034


Magnetic Resonance Imaging Coils Market Outlook

*this image is indicative*

Global Magnetic Resonance Imaging Coils: Introduction

Magnetic resonance imaging or MRI is a non-invasive imaging technology used to produce high quality images of the body’s internal structures. Magnetic resonance imaging coils are used to help the system capture high-quality images by transmitting strong magnetic fields and radio waves to capture the image. A coil is an integral part of an MRI because getting an image without it is not possible.

Radiofrequency coils are the most common type of MRI coils that work by converting signals into data that gets transferred to the computer and later interpreted to get the final image. Volume coils, surface coils, gradient coils are other common types.

Global Magnetic Resonance Imaging Coils Market Analysis

Magnetic resonance imaging coils are segmented into gradient coils, radio-frequency coils, and volume coils. As per contemporary trends, scientists are focused at creating better designs that are efficient and allow a vast coverage of several body parts to facilitate better visualisation of the human anatomy in short span of time. For example, AIR™ Coils by GE Healthcare aids better adaptability in patient diagnosis. It is light, accessible, easy to position coil that boasts a 360-degree coverage. Hence, we can anticipate magnetic resonance imaging coils market growth in the forecast period.

In July 2023, the University of Birmingham came up with research which indicated that using copper in MRI system could help create better images for effective diagnosis. The ongoing development to enhance the existing system is a huge indicator that the magnetic resonance imaging coils market value will experience valuable additions in the future.

Global Magnetic Resonance Imaging Coils Market Segmentation

Magnetic Resonance Imaging Coils Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

  • Phased-Array
  • Quadrature

Market Breakup by Type

  • Volume Coils
  • Gradient Coils
  • Radiofrequency Coils
  • Surface
  • Others

Market Breakup by Applications

  • Neuroimaging
  • Cardiovascular
  • Musculoskeletal
  • Gastrointestinal
  • Pediatric
  • Breast
  • Others

Market Breakup by End User

  • Hospitals
  • Diagnostic Imaging Centre
  • Others

Market Breakup by Distribution Channel

  • Direct Tenders
  • Retail Sales

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Global Magnetic Resonance Imaging Coils Market Overview

MRI has wide range of medical diagnostic applications. It is applicable in neuroimaging, cardiovascular imaging, angiographies and even cancer diagnosis. In 2023, 1,958,310  new cancer cases are projected to occur in the United States. The presence of a well-developed medical infrastructure, which has led to the development premium diagnostic and imaging facilities, is a key factor contributing to a huge market size. However, fastest growth in the industry will be observed in Asia Pacific region owing to increased foreign investments.

Philips started manufacturing radio-frequency magnetic coils in India, which brought approximately INR 400 crore investment under the PLI government scheme. This indicates that the government is also bringing leniency to the law and order to attract investments. Moreover, with the occurrence of a geriatric population, the prevalence of chronic diseases will increase in the area, bringing considerable value to the market size. Therefore, we can anticipate substantial magnetic resonance imaging coils market growth in the future.

Global Magnetic Resonance Imaging Coils Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

  • General Electric
  • Koninklijke Philips N.V.
  • Siemens Healthcare GmbH
  • AURORA HEALTHCARE US CORP
  • NORAS MRI products
  • ESAOTE SPA
  • Hitachi, Ltd.
  • Bruker
  • IMRIS
  • Monteris
  • Nael Medical - Part of NBHH Group
  • MEDSPIRA
  • CANON MEDICAL SYSTEMS USA, INC.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market attained a value of about USD 9.10 Billion in 2024, driven by the increased demand for quality diagnostic services to provide early detection of chronic diseases.

The market is anticipated to grow at a CAGR of 8.10% during the forecast period of 2025-2034, likely to reach a market value of USD 19.83 Billion by 2034.

The market demand has surged with the increased prevalence of neuroimaging, cardiovascular imaging, angiographies, and cancer diagnostics.

The Asia Pacific region is expected to witness rapid growth in the market with an influx of foreign investments. For instance, Philips made an INR 400 crore investment under the PLI government scheme to manufacture radio-frequency magnetic coils in India.

The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.

Common application of these coils include neuroimaging, cardiovascular, musculoskeletal, gastrointestinal, pediatric, and breast, among others.

The market is divided into phased-array and quadrature.

Volume coils, gradient coils, radiofrequency coils, and surface, among others are some common types of magnetic resonance coils.

Key end users include hospitals and diagnostic imaging centres, among others.

Major distribution channels include direct tenders and retail sales.

Key players involved in the market are Koninklijke Philips N.V., Siemens Healthcare GmbH, AURORA HEALTHCARE US CORP, NORAS MRI products, ESAOTE SPA, Hitachi, Ltd., Bruker, IMRIS, Monteris, Nael Medical - Part of NBHH Group, MEDSPIRA, CANON MEDICAL SYSTEMS USA, INC., and General Electric.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Type
  • Applications
  • End User
  • Distribution Channel
  • Region
Breakup by Product Type
  • Phased-Array
  • Quadrature
Breakup by Type
  • Volume Coils
  • Gradient Coils
  • Radiofrequency Coils
  • Surface
  • Others
Breakup by Applications
  • Neuroimaging
  • Cardiovascular
  • Musculoskeletal
  • Gastrointestinal
  • Pediatric
  • Breast
  • Others
Breakup by End User
  • Hospitals
  • Diagnostic Imaging Centre
  • Others
Breakup by Distribution Channel
  • Direct Tenders
  • Retail Sales
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • PESTEL Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Company News and Developments
    • Certifications
Companies Covered
  • General Electric
  • Koninklijke Philips N.V.
  • Siemens Healthcare GmbH
  • AURORA HEALTHCARE US CORP
  • NORAS MRI products
  • ESAOTE SPA
  • Hitachi, Ltd.
  • Bruker
  • IMRIS
  • Monteris
  • Nael Medical - Part of NBHH Group
  • MEDSPIRA
  • CANON MEDICAL SYSTEMS USA, INC.

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