Magnetic Resonance Imaging Coils Market growing at a CAGR of 8.4% from 2025 to 2030

The global magnetic resonance imaging coils market size was estimated at USD 9.1 billion in 2024 and is projected to reach USD 14.7 billion by 2030, growing at a CAGR of 8.4% from 2025 to 2030. The increasing prevalence of chronic diseases, such as neurological & cardiovascular disorders and cancer, is expected to drive the market.

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For instance, according to the International Agency for Research on Cancer (IARC), the global cancer burden is expected to increase to 50,550,287 by 2025 from 19,292,789 in 2020. This is expected to boost the demand for magnetic resonance imaging (MRI) machines for enhanced diagnosis, and thus, is expected to drive the MRI coils market. The global magnetic resonance imaging (MRI) coils market is driven by the rising demand for MRI procedures across diagnostic and research applications. The increasing prevalence of chronic conditions such as cancer, neurological disorders, and cardiovascular diseases has significantly increased the need for advanced imaging modalities such as MRI, which offers superior soft tissue contrast and functional imaging capabilities. According to the Centers for Disease Control and Prevention (CDC), cardiovascular disease remains the leading health threat in the U.S., with the condition claiming a life every 33 seconds and accounting for roughly one in every five deaths.

As MRI scans become a routine part of diagnostic workflows, healthcare providers are expanding MRI services to meet patient needs, and this expansion directly fuels the demand for MRI coils, which are essential components in the imaging chain. Furthermore, the growing geriatric population, which is more prone to age-related diseases requiring MRI evaluation, is further contributing to the procedural volumes. For instance, according to the World Health Organization (WHO), the global geriatric population aged 60 years and above is expected to increase from around 1.1 billion in 2023 to around 1.4 billion in 2030.

Moreover, the partnerships and collaborations between the market players to develop application and device-specific products are further enhancing the degree of innovation in the market. For instance, in January 2024, InkSpace Imaging received FDA clearance for its innovative small body array MRI coil designed specifically for Siemens Healthineers’ Vida series 3T & Magnetom Skyra scanners. This next-generation coil is engineered to be lightweight, flexible, and huggable, wrapping around patients like a blanket, which enhances patient comfort while significantly improving the signal-to-noise ratio for clearer imaging.

Similarly, in January 2025, Pleasanton-based InkSpace Imaging secured FDA clearance for its innovative 1.5‑tesla 24‑channel MRI coil designed for Siemens Healthineers’ Magnetom scanners. Incorporating high‑density coil elements, a lightweight, flexible design, and advanced parallel imaging compatibility, the coil enhances signal‑to‑noise ratio, improves patient comfort, and accelerates scan times. Such initiatives increase the adoption of technologically advanced products in the market, encouraging innovation and market growth.

Additionally, the increasing initiatives by imaging service providers and healthcare facilities to expand their MRI services increases the demand for MRI coils. For instance, in October 2024, Princeton Radiology announced an expansion into Newtown, Pennsylvania with a state-of-the-art imaging center. Furthermore, the global push toward strengthening rural healthcare infrastructure and public-private partnerships in healthcare delivery has extended MRI access beyond metropolitan regions, further driving the growth of MRI coil market.

Market Concentration & Characteristics

The MRI coils industry is moderately concentrated, with a few dominant players such as Siemens Healthineers, GE Healthcare, and Philips holding significant market share due to their strong technological capabilities and global reach. The market is characterized by high entry barriers, given the need for advanced R&D, regulatory approvals, and integration with MRI systems. Innovation, particularly in flexible, lightweight, and high-channel coils, is a key competitive factor. Customization for specific anatomical applications and compatibility with new MRI systems also drive differentiation. Partnerships with imaging centers and hospitals further strengthen market positioning and enhance adoption of advanced coil technologies.

The MRI coils industry is marked by strong innovation, fueled by rapid technological progress and increasing demand for patient-centric designs. In January 2024, INM-4 researchers unveiled a groundbreaking single-channel butterfly coil using circular polarised (CP) mode instead of the traditional linear polarised (LP) mode. Leveraging split resonance peak tuning, the CP coil achieved enhanced signal-to-noise ratio (SNR) in phased array setups, representing a major advancement in high-resolution MRI imaging.

Regulations significantly shape the MRI coils industry by ensuring safety, performance, and compliance with international standards. Regulatory bodies such as the U.S. FDA and the European Medicines Agency (EMA) oversee the approval process for MRI components, requiring extensive testing and validation. Manufacturers must meet stringent quality and safety benchmarks, including electromagnetic compatibility and biocompatibility. These regulations often extend product development timelines but are essential for protecting patient health and ensuring device reliability. Additionally, evolving standards and region-specific requirements can pose challenges for global market entry, making regulatory navigation a critical factor in the strategic planning of MRI coil manufacturers.

Mergers and acquisitions in the MRI coils industry are shaping market dynamics, with notable activity such as DirectMed Parts & Service acquiring ScanMed, LLC in October 2022. This strategic move combines DirectMed’s global parts distribution network with ScanMed’s expertise in MRI coil design and repair. The partnership aims to strengthen coil repair and supply capabilities, particularly across Europe, through DirectMed’s Danish unit, LBN Medical. Despite the acquisition, ScanMed continues operations under its existing brand from Omaha, Nebraska. This consolidation reflects an industry trend toward expanding service offerings and geographic reach to meet growing global demand for advanced MRI coil solutions. To reinforce this viewpoint, the CEO of ScanMed stated,

“Combining DirectMed’s leading parts inventory, financial resources, and global distribution with ScanMed’s MRI coil products and repair services produces ‘wins all around’ for our companies and clients. Our strategic plan included building ScanMed’s MRI coil distribution and repair footprint in Europe. With DirectMed’s Danish subsidiary LBN Medical ApS, that vision will now come true, thus bringing the best of the U.S. to Europe.”

Magnetic Resonance Imaging Coils Market Report Scope

Report Attribute	Details
Market size value in 2025	USD 9.8 billion
Revenue forecast in 2030	USD 14.7 billion
Growth rate	CAGR of 8.4% from 2025 to 2030
Actual data	2018 – 2024
Forecast period	2025 – 2030
Report updated	May 2025
Quantitative units	Revenue in USD million/billion and CAGR from 2025 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Type, application, end use, and region
Regional scope	North America; Europe; Asia Pacific; Latin America; MEA
Country scope	U.S.; Canada; Mexico; UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; Thailand; South Korea; Brazil; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.
Key companies profiled	GE Healthcare; Koninklijke Philips N.V.; Siemens Healthineers AG; Canon Medical Systems Corporation; Esaote S.p.A.; MR Instruments, Inc.; Rapid MR International, LLC.; Scanmed, LLC., Noras MRI Products GmbH; Nova Medical.
Customization scope	Free report customization (equivalent to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options