Magnetic Resonance Imaging Coils Market size is anticipated to cross USD 17 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of MRI coils was USD 8 Billion. MRI machines are in high demand in hospitals and diagnostic centers due to the increasing prevalence of cardiovascular diseases (CVDs). For the detection of CVDs such as blockages in the arteries and congenital heart defects, MRI is often used, which produces detailed images of the heart and blood vessels using MRI coils.
MRI coils are essentially radio frequency antennas that are used to detect the signals generated by the MRI scanner. The increased availability of MRI units has also made it easier for healthcare organizations to provide more accurate diagnoses in a shorter time frame. As of 2021, around 5.7 million MRI units were installed worldwide, representing an increase of 94 million MRI scans in recent years.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 7% |
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Base Year Market Size (2022) |
~ USD 8 Billion |
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Forecast Year Market Size (2035) |
~ USD 17 Billion |
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Regional Scope |
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Application (Neurology, Cardiovascular, Musculoskeletal, Breast, Gastrointestinal, Abdominal)
Neurology applications will lead the market share by 2035, accounting for 34%. A growing number of neurological diseases worldwide, such as Alzheimer’s disease, dementia, and amyotrophic lateral sclerosis, are attributed to the growing use of MRI scans for diagnosing neurological disorders.
Globally, there are more than 55 million people suffering from dementia and 55 million living with Alzheimer's disease. A high-quality coil is required in MRI machines to diagnose various neurological disorders, including tumours and strokes.
Coil Type (Radiofrequency, Volume, Gradient)
The radiofrequency (RF) segment in the MRI coils market is estimated to gain a substantial market share of about 46% by 2035. Increased demand for MRI machines, high-resolution imaging, and an increase in the number of RF coils being manufactured contribute to the segment growth in the medical industry.
RF coils create a strong magnetic field in the area of the body being imaged. This strong magnetic field is necessary for the MRI machine to create detailed images of the body.
Our in-depth analysis of the global market includes the following segments:
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Product Type |
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Coil Type |
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Application |
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North American Market Forecast
North America MRI coils market share is predicted to cross 32% by 2035. MRI coils are integral parts of MRI machines that detect cancerous tumors in the body. CDC reports that there were 602,350 cancer deaths in the United States in 2020, of which 284,619 were attributed to females and 317,731 to males.
APAC Market Statistics
By the end of 2035, Asia Pacific will have a dominant position in the market, accounting for approximately 29% of the revenue share. Advanced imaging technologies are being adopted by countries in the region as a result of better healthcare systems. As of 2020, Japan had the highest MRI unit density per million people, with 56 MRI units per million. Recent decreases in the cost of MRI scanners have also made them more affordable to a wider range of patients in the region.
Author Credits: Radhika Gupta, Shivam Bhutani
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