Global Magnetic Resonance Imaging Coils Market Projected to reach 19.3 Billion by 2033, Expanding at a CAGR of 9.0% | M2Square Consultancy

The Global Magnetic Resonance Imaging Coils Market is poised for steady expansion, driven by the rising prevalence of chronic diseases, increasing adoption of advanced imaging technologies, and growing demand for high-quality diagnostic solutions. MRI coils, critical components that enhance signal reception and image quality, play a pivotal role in improving diagnostic accuracy across radiology, neurology, cardiology, and oncology applications. According to M2Square Consultancy's latest research report, the market is projected to expand at a CAGR of 9.0% from 2025 to 2033, reaching an estimated value of USD 19.3 billion by 2033.

MRI coil innovation is enabling higher-resolution imaging, reduced scan times, and improved patient comfort, making them indispensable in modern medical imaging workflows. The increasing prevalence of neurological disorders, cancer, and cardiovascular diseases is driving hospitals, diagnostic centers, and imaging facilities to adopt multi-channel, phased-array, and specialized coils for optimized performance. Furthermore, technological advancements in flexible coils, dedicated organ-specific coils, and ultra-high-field MRI systems are creating new growth opportunities.

The integration of MRI coils with artificial intelligence, advanced imaging software, and 3D visualization platforms is further enhancing clinical decision-making. These developments support early diagnosis, improved treatment planning, and enhanced patient outcomes, positioning MRI coils as a key enabler in precision medicine and personalized healthcare.

The global shift toward personalized medicine and minimally invasive diagnostics is driving the demand for advanced coil designs that improve signal-to-noise ratio (SNR) and enable faster imaging. Furthermore, the integration of wireless and phased-array coils, along with lightweight and ergonomically designed solutions, is reshaping the value proposition of MRI coils for hospitals, diagnostic centers, and research institutions.

North America Magnetic Resonance Imaging Coils Market Insights

North America continues to dominate the MRI coils market due to the high adoption of advanced MRI systems, the presence of leading players, and strong healthcare expenditure. In 2024, the U.S. accounted for over 45% of global MRI system installations, with hospitals and diagnostic centers increasingly upgrading to multi-channel and high-field MRI systems. Technological innovations such as 3T and 7T MRI scanners, wireless coils, and patient-specific coil designs are driving the market forward. Despite high penetration, the growing prevalence of neurological and cardiovascular disorders ensures sustained demand for advanced MRI coils.

Leading players in the region, such as Siemens Healthineers, GE Healthcare, and Philips Healthcare, are investing in research and development to introduce innovative coil designs, ultra-high-field coils, and specialized solutions for neurology, cardiology, and musculoskeletal imaging. Canada also contributes to market growth through government-supported healthcare initiatives and the adoption of high-end MRI systems in major medical centers.

Key Market Highlights from the Report

●       Market Valuation: The market was valued at an estimated USD 9.8 billion in 2025.

●       Coil Type: Radiofrequency (RF) coils hold the largest market share due to superior image quality and faster acquisition times.

●       Application: Neurology and Oncology imaging account for the largest revenue share due to increasing disease prevalence and imaging complexity.

●       End-user: Hospitals and Diagnostic Centers hold the largest share, followed by research institutes and ambulatory care centers.

●       Region: North America leads, followed by Europe, which benefits from a strong healthcare infrastructure, high MRI adoption, and early technology integration.

Magnetic Resonance Imaging Coils Market Segmentation

M2Square Consultancy has segmented the global Magnetic Resonance Imaging Coils market based on coil type, application, end-user, and region:

By Coil Type

●       Radiofrequency (RF) Coils

●       Gradient Coils

By Application

●       Neurology

●       Cardiovascular

●       Musculoskeletal & Spine

●       Pediatric

●       Breast

●       Abdominal

●       Other

By End-user

●       Hospitals & Clinics

●       Diagnostic Imaging Centers

●       Ambulatory Surgical Centers

●       Others

By Region

●       North America

o   U.S.

o   Canada

●       Europe

o   U.K.

o   Germany

o   France

o   Italy

o   Spain

o   Switzerland

o   Rest of Europe

●       Asia Pacific

o   China

o   India

o   Japan

o   South Korea

o   Australia

o   Rest of APAC 

●       Latin America

o   Mexico

o   Brazil

o   Argentina

o   Rest of LATAM

●       Middle East & Africa

o   Saudi Arabia

o   UAE

o   South Africa

o   Rest of MEA

Key Market Players in the Magnetic Resonance Imaging Coils Market

●       GE HealthCare

●       Siemens Healthineers

●       Philips Healthcare

●       Canon Medical Systems Corporation

●       Hitachi Medical Systems

●       ESAOTE S.p.A.

●       MR Instruments, Inc.

●       RAPID MR International, LLC

●       Scanmed, LLC

●       NORAS MRI products GmbH

●       Monteris Medical

●       Time Medical Holding

●       Medspira

●       Shanghai Chenguang Medical Technologies Co., Ltd.

●       Invivo Corporation

●       Others

Key Strategies by Magnetic Resonance Imaging Coils Market Players

AI-Driven Imaging Enhancements: Integrating the coil design with advanced software and Artificial Intelligence (AI) platforms. The AI helps process the complex data generated by high-channel coils, enabling faster image reconstruction and improving image quality by mitigating noise and motion artifacts, e.g., GE's SIGNA Hero or Philips' SmartSpeed Precise.

Bundling Capital and Consumables: Bundling a comprehensive set of coils with the initial sale of a new MRI scanner. The coil is viewed as a high-value accessory that increases the overall price and margin of the capital equipment.

Implications for Stakeholders

●       Hospitals & Diagnostic Centers: Enhanced imaging performance, improved diagnostic accuracy, and reduced scan times will support better patient outcomes and operational efficiency.

●       Healthcare Providers & Radiologists: Access to organ-specific and high-channel MRI coils improves workflow efficiency and enables advanced clinical applications.

●       MRI Manufacturers & Suppliers: Innovation in coil technology, customized solutions, and digital integration will drive competitive advantage.

●       Governments & Regulators: Policy frameworks and reimbursement support will accelerate the adoption of advanced MRI systems and coils, contributing to overall healthcare quality.

About M2Square Consultancy

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