Global Magnetic Resonance Imaging Coils market research 2024, Forecast To 2033
5 Feb, 2024
The magnetic resonance imaging coils market has experienced strong growth, escalating from $11.89 billion in 2023 to $12.84 billion in 2024, with a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period is attributed to the increased prevalence of chronic diseases, an aging population, research and development, rising healthcare expenditure, and regulatory compliance. Foreseeing robust growth in the next few years, the market is expected to reach $18.42 billion in 2028, reflecting a CAGR of 9.4%. The forecasted growth is linked to the rise of telemedicine, the expansion of hybrid imaging, precision medicine initiatives, personalized medicine, and rapid diagnosis and treatment. Major trends in the forecast period include artificial intelligence (AI)-enhanced imaging, wearable and continuous monitoring, advanced materials and manufacturing, personalized coil design, and low-field MRI systems.
Global Magnetic Resonance Imaging Coils Market Key Driver
The increasing prevalence of chronic diseases is expected to boost the magnetic resonance imaging (MRI) coil market. Chronic diseases, causing long-term health issues, account for a significant portion of global deaths. As of September 2023, the World Health Organization reported 41 million deaths annually, with 74% attributed to non-communicable diseases. Conditions like cardiovascular diseases and cancer, requiring frequent MRI diagnostics, contribute to the growing demand for MRI coils.
Get A Free Sample Of The Global Magnetic Resonance Imaging Coils Market ReportGlobal Magnetic Resonance Imaging Coils Market Segments
The global magnetic resonance imaging coils market covered in this report is segmented –
1) By Type: Radiofrequency Coil, Gradient Coil
2) By Application: Neurology, Cardiovascular, Spine and Musculoskeletal, Pediatric, Breast, Abdominal, Other Applications
3) By End User: Hospitals, Diagnostic Imaging Centers, Other End Users
By Geography: The regions covered in the Magnetic Resonance Imaging Coils market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North Americawas the largest region in the magnetic resonance imaging coils market share in 2023. Asia-Pacificis expected to be the fastest-growing region in the forecast period. The regions covered in the magnetic resonance imaging coils market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Magnetic Resonance Imaging Coils Industry Players
Esaote Spa, GE Healthcare Technologies Inc., Koninklijke Philips NV, Siemens Healthcare Private Limited, MR Instruments Inc., Bruker Corp., Canon Medical Systems Corporation, Hologic Inc., RAPID MR International LLC, ScanMed Technology Pty Ltd., Aurora Healthcare US Corp., Monteris Medical Corp., Fonar Corporation, Schneider Electric SE, Satoe SpA, General Electric Company, Koninkilje Philips N.V., Esaote North America Inc., Medtronic Inc., Signet Systems Inc., Tritium Pty Ltd., DirectMed Inc., Hitachi Medical Systems America Inc., Invivo Corporation, Medrad Inc., NeuroLogica Corp., Philips Healthcare, Shimadzu Corporation, Toshiba Medical Systems Corporation, Analogic Corporation
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Magnetic Resonance Imaging Coils Market Overview
The magnetic resonance imaging coil is an essential component of an MRI machine and allows to capture of high-end images of specific body parts. MRI consists of multiple coils which serve different purposes, such as, they act as transmitters to develop a rotating magnetic field and also as receivers to detect radio-frequency signs. MRI or magnetic resonance imaging is a non-invasive imaging technology that uses magnetic fields, radio waves, and a computer to create detailed anatomical images of the human body. It is used as a hardware components to increase the performance of magnetic resonance imaging systems for imaging various medical conditions or injuries.
Magnetic Resonance Imaging Coils Global Market Report 2023 provides data on the global magnetic resonance imaging coils market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The magnetic resonance imaging coils market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.