MRI Coils Market
Global MRI Coils Market: Overview
The Global MRI Coils Market size valued at USD 9.19 Billion in 2022 is predicted to expand at a CAGR of 7.5% to reach revenues of USD 16.39 in 2030. The growing prevalence of chronic diseases such as neurological ailments, cancer and cardiovascular diseases is expected to drive the market growth.
The radiofrequency as well as gradient coils help in amplifying the performance of MRI machines. Gradient coil generates supplemental magnetic fields within three dimensions x, y, and z.
These additional fields overlay the main magnetic field and provide contiguous coded data that helps the computer to calculate image slice.
Much the same, Radiofrequency Coil (RF coil) helps in boosting the reception of magnetic resonance signal. Some of these coils are competent of transmitting the signal while all can receive these signals.
Strong signal helps in proffer clear images through noise reduction, helping in improving the signal-to-noise ratio.
Since the evolution of wide-bore MRI systems and technologically advanced MRI coils, the market players are primarily distinct about the development of MRI coils to enter or sustain in the market.
Key Market Trends: Growth Determinants and Challenges:
These MRI coils also come with certain disadvantages. These coils may sublimate notable RF energy which can lead to patient heating concerns.
Also, RF coils are placed in closed proximity to the anatomy for achieving outstanding Signal-to-noise ratio (SNR) but sometimes noise created in the body due to certain electrical fluctuations may lead to different SNR and may impact the imaging.
MRI Coils include an electromagnetic field and a large static magnetic field to produce thorough images with the aid of MRI coils. There are various types of coils that are used for imaging such as the surface coils, volume coils and some others.
One of the major coils which are utilized in radiofrequency coils are both receive and transmit type coils. Hereto, the coil receives and transmits radio frequency signals and these are further combined to form an image of the anatomy under observation.
The ascent in awareness is leading to a hike in the use of MRI systems which in turn gives escalation to the demand for MRI coils fuelling the growth of the MRI coils market.
Increase in adoption of reused or refurbished MRI products is acting as a prudence for the MRI coils market.
Increasing healthcare infrastructure and expenditure across the world is acting as an opportunity for the MRI coils market to grow. Strict regulations and standards for the approval and commercialization of MRI coils pose a challenge for the MRI coils market
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Innovative product launches to boost market development
Prominent industry players are focusing on the development of innovative products in the field. Manufacturers are coming up with lighter MRI coils that provide a higher flexibility and conforms to the patient’s anatomy, thereby helping physicians to make accurate diagnosis. This in turn is creating lucrative growth avenues for the industry.
Segmental Analysis of Global MRI Coils Market:
Based on Type
Based on Application
Based on End-Use
Based on Region
NORTH AMERICA (Canada, US), EUROPE (Spain, UK, Germany, Italy, France), ASIA-PACIFIC (India, China, Thailand, Japan, South Korea), LATIN AMERICA (Colombia, Brazil, Mexico, Argentina), MIDDLE EAST & AFRICA (UAE, Saudi Arabia, South Africa)
North America dominated the Magnetic Resonance Imaging (MRI) coils market and held the largest revenue share. The increasing occurrence of chronic diseases such as breast, cardiovascular disorders, cancer and neurological diseases in this region is creating high demand for imaging analysis.
The region is expected to maintain its dominance throughout the forecast period. The high adoption rate for advanced technology coupled with the growing incidence of chronic conditions is anticipated to hike the growth of the market in the region.
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