Overview and Scope
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.
Sizing and Forecast
The magnetic resonance imaging coils market size has grown strongly in recent years. It will grow from $11.89 billion in 2023 to $12.84 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increased prevalence of chronic diseases, aging population, research and development, rising healthcare expenditure, regulatory compliance.
The magnetic resonance imaging coils market size is expected to see strong growth in the next few years. It will grow to $18.42 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to rise of telemedicine, expansion of hybrid imaging, precision medicine initiatives, personalized medicine, 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, low-field mri systems.
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Segmentation & Regional Insights
The magnetic resonance imaging coils market covered in this report is segmented –
1) Magnetic Resonance Imaging Coils Market By Type: Radiofrequency Coil, Gradient Coil
2) Magnetic Resonance Imaging Coils Market By Application: Neurology, Cardiovascular, Spine and Musculoskeletal, Pediatric, Breast, Abdominal, Other Applications
3) Magnetic Resonance Imaging Coils Market By End User: Hospitals, Diagnostic Imaging Centers, Other End Users
Top Major Players
Esaote Spa
GE Healthcare Technologies Inc.
Koninklijke Philips NV
Siemens Healthcare Private Limited
MR Instruments Inc.
North America was the largest region in the magnetic resonance imaging coils market share in 2023. Asia-Pacific is 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.
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Major Driver Impacting Market Growth
The increasing prevalence of chronic diseases is expected to propel the growth of the magnetic resonance imaging coil market. Chronic diseases are those conditions that last for 1 year or more and require ongoing medical attention and restrict activities of daily living. Diseases such as heart disease, and cancer are leading chronic diseases where MRI plays an important role in diagnoses of a disease and also monitoring the body’s response to treatment. MRI coil receives the radio frequency signal coming from the patient’s body and transmits the data to a computer that generates images. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, and 4.1 million deaths from chronic respiratory diseases. As a result, increasing chronic diseases will be monitored by MRI machines more frequently. Therefore, the increasing prevalence of chronic diseases is expected to boost the demand for magnetic resonance imaging coils during the forecast period.
Key Industry Players
Major companies operating in the magnetic resonance imaging coils market include 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
The magnetic resonance imaging coils market report table of contents includes:
1. Executive Summary
2. Magnetic Resonance Imaging Coils Market Characteristics
3. Magnetic Resonance Imaging Coils Market Trends And Strategies
4. Magnetic Resonance Imaging Coils Market – Macro Economic Scenario
5. Global Magnetic Resonance Imaging Coils Market Size and Growth
…..
32. Global Magnetic Resonance Imaging Coils Market Competitive Benchmarking
33. Global Magnetic Resonance Imaging Coils Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Magnetic Resonance Imaging Coils Market
35. Magnetic Resonance Imaging Coils Market Future Outlook and Potential Analysis
36. Appendix
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