Magnetic resonance imaging is a noninvasive technique that has been developed for its excellent depiction of soft tissue contrasts. Instruments capable of ultra-high field strengths, ≥7 Tesla, were recently engineered and have resulted in higher signal-to-noise and higher resolution images. This paper presents various subsystems of the MR imaging systems like the magnet subsystem, gradient subsystem, and also various issues which arise due to the magnet. Further, it also portrays finer details about the RF coils and transceiver and also various limitations of the RF coils and transceiver. Moreover, the concept behind the data processing system and the challenges related to it were also depicted. Finally, the various artifacts associated with the MR imaging were clearly pointed out. It also presents a brief overview about all the challenges related to MR imaging systems.