The importance of magnetic resonance imaging (MRI) coils lies in their role in anatomical coverage. Different coils are designed to cater to specific anatomical regions, ensuring precise imaging. Surface coils are specialized for capturing detailed images of superficial structures, offering high resolution and sensitivity. Conversely, larger body coils are designed to cover broader areas, facilitating comprehensive imaging of internal structures. These coils' strategic selection and placement are critical in achieving optimal coverage and image quality for the targeted anatomy.
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Data Bridge Market Research analyses the Global Magnetic Resonance Imaging (MRI) Coils Market, which was USD 8.85 billion in 2022 and is expected to reach USD 15.43 billion by 2030, at a CAGR of 7.20% from 2023 to 2030. The increasing global focus on early disease detection, driven by awareness campaigns and healthcare initiatives, is a key driver for the magnetic resonance imaging (MRI) coils market.
Key Findings of the Study
Rising prevalence of chronic diseases is expected to drive the market's growth rate
The rising prevalence of chronic diseases, including cardiovascular disorders, cancer, and neurological conditions, is a significant driver for the magnetic resonance imaging (MRI) coils market. As the demand for accurate diagnosis and effective treatment planning grows, advanced imaging solutions become essential. MRI coils, integral components of MRI systems, are pivotal in obtaining high-quality images necessary for precise disease management. The increasing reliance on MRI technology for non-invasive and detailed imaging contributes to the expanding market for MRI coils, meeting the imperative need for enhanced diagnostic capabilities in addressing the challenges posed by the growing incidence of chronic illnesses.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Phased-Array, Quadrature), Type (Volume Coils, Gradient Coils, Radiofrequency Coils, Surface, Others), Application (Neuroimaging, Cardiovascular, Musculoskeletal, Gastrointestinal, Pediatric, Breast, Others), End User (Hospitals, Diagnostic Imaging Centre, Others), Distribution Channel (Direct Tenders, Retail Sales)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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General Electric (U.S.), Koninklijke Philips N.V. (Netherlands), Siemens Healthcare GmbH (Germany), AURORA HEALTHCARE US CORP (U.S.), NORAS MRI products (Germany), ESAOTE SPA (Italy), Hitachi, Ltd. (Japan), Bruker (U.S.), IMRIS (Canada), Monteris (U.S.), Nael Medical - Part of NBHH Group (U.A.E), MEDSPIRA (U.S.), and CANON MEDICAL SYSTEMS USA, INC (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The global magnetic resonance imaging (MRI) coils market is segmented on the basis of product type, type, application, end user and distribution channel.
- On the basis of product type, the global magnetic resonance imaging (MRI) coils market is segmented into phased-array, and quadrature
- On the basis of type, the global magnetic resonance imaging (MRI) coils market is segmented into volume coils, gradient coils, radiofrequency coils, surface, and others
- On the basis of application, the global magnetic resonance imaging (MRI) coils market is segmented into neuroimaging, cardiovascular, musculoskeletal, gastrointestinal, pediatric, breast, and others
- On the basis of end user, the global magnetic resonance imaging (MRI) coils market is segmented into hospitals, diagnostic imaging centre, and others
- On the basis of distribution channel, the global magnetic resonance imaging (MRI) coils market is segmented into direct tenders, and retail sales
Major Players
Data Bridge Market Research recognizes the following companies as the major global magnetic resonance imaging (MRI) coils market players in global magnetic resonance imaging (MRI) coils market are General Electric (U.S.), Koninklijke Philips N.V. (Netherlands), Siemens Healthcare GmbH (Germany), AURORA HEALTHCARE US CORP (U.S.), NORAS MRI products (Germany), ESAOTE SPA (Italy)
Market Developments
- In 2021, GE Healthcare, a prominent US-based company specializing in diagnostics, therapeutics, and monitoring through intelligent devices, made a strategic move by acquiring BK Medical for an undisclosed sum. This acquisition marked a significant expansion of GE Healthcare's pre- and post-operative ultrasound capabilities. Notably, it allowed the company to enter the emerging field of real-time surgical visualization. The result was an end-to-end offering covering the entire continuum of care, ranging from diagnosis to therapy and beyond
- In 2020, SimonMed achieved a milestone by becoming the first imaging provider in outpatient procedures to integrate GE Healthcare's SIGNA Architect 3T MRI scanner. This cutting-edge MRI scanner featured innovative AIR coils resembling lightweight blankets. These coils were designed to envelop the patient's head, enhancing imaging quality. The adoption of this technology contributed to market growth in 2020, and its continued utilization is expected to drive advancements in the coming years
- In 2020, Canon Medical Systems Corporation, a subsidiary of Canon Inc., secured FDA approval for its technology, Compressed SPEEDER. This innovative technology was designed to reduce scanning times for 3D sequences, providing fully reconstructed high-resolution images particularly beneficial in orthopedic applications. The approval marked a significant development, indicating the potential for enhanced efficiency and precision in medical imaging, thereby contributing to market growth
- In 2020, the Neuroscience Foundation announced a project to develop 7T MRI technology for improved neurovascular imaging in neurological illnesses. The foundation allocated a substantial sum of US$ 16,722 to fund this initiative. This project underscored the commitment to advancing imaging technologies for neurological applications, signifying a step forward in understanding and diagnosing neurovascular conditions
Regional Analysis
Geographically, the countries covered in the global magnetic resonance imaging (MRI) coils market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in the global magnetic resonance imaging (MRI) coils market during the forecast period 2023-2030
North America dominates the magnetic resonance imaging (MRI) coils market primarily due to a heightened focus on early disease diagnosis and increased healthcare expenditure. The region's strong emphasis on awareness campaigns promoting early detection has led to a growing demand for MRI, a non-invasive imaging technique. The historically high healthcare expenditure in North America supports adopting advanced medical technologies, including state-of-the-art MRI systems and their essential components such as coils.
Asia-Pacific is estimated to be the fastest growing region in global magnetic resonance imaging (MRI) coils market the forecast period 2023-2030
The Asia-Pacific region is poised for significant growth in the magnetic resonance imaging (MRI) market between 2023 and 2030 due to the increasing prevalence of chronic diseases in the region. The rising burden of conditions such as cardiovascular disorders and cancer has fueled the demand for advanced imaging modalities such as MRI, which provide detailed inner body images without ionizing radiation. As healthcare infrastructure develops and economies grow, a heightened focus is on upgrading medical facilities with state-of-the-art technology. Adopting advanced MRI systems in the Asia-Pacific region is crucial for early disease detection and better treatment planning, contributing to improved healthcare outcomes.
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