North America MRI Coils Market, By 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), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2028
Market Analysis and Insights: North America MRI Coils Market
The MRI coils market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 3.8% in the forecast period of 2021 to 2028 and is expected to reach USD 142.29 million by 2028. Increase in prevalence of chronic diseases and rising geriatric population is anticipated to drive the growth of the market.
Magnetic resonance imaging includes an electromagnetic field and a large static magnetic field to produce detailed images with the aid of MRI coils. There are different types of coils that are used for imaging such as the volume coils, surface coils among others. One of the major coils that are used is radiofrequency coils which are both transmit and receive type coils. Herein, the coil receives and transmits radio frequency signals and these are further combined to form an image of the anatomy under observation.
The rise in awareness is leading to a rise in the use of MRI systems which in turn is giving rise to the demand for MRI coils fuelling the growth of the MRI coils market. Increase in adoption of refurbished and reused MRI products is acting as a restraint for the MRI coils market. Increasing healthcare expenditure and infrastructure 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 as a challenge for the MRI coils market
The MRI coils market provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the MRI coils market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
MRI Coils market scope and market size
The MRI coils market is segmented into five notable segments which are based on the product type, type, application, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the MRI coils market is segmented into phased array and quadrature. In 2021, phased array segment holds the highest market share as it produces higher signal-to-noise ratio producing high resolution images, ideal for diagnostic use, works well for vascular, neurological and orthopedic needs.
- On the basis of type, the MRI coils market is segmented into volume coils, gradient coils, radiofrequency coils, surface and others. In 2021, radiofrequency coils segment holds the highest market share as it is sensitive in nature and provides good quality images of the anatomy under consideration.
- On the basis of application, the MRI coils market is segmented into neuroimaging, cardiovascular, musculoskeletal, gastrointestinal, pediatric, breast and others. In 2021, neuroimaging segment holds the highest market share as it is capable of providing high quality images taking lesser time in the process of imaging.
- On the basis of end user, the MRI coils market is segmented into hospitals, diagnostic imaging centre and others. In 2021, hospitals segment is expected to grow due to increasing demand of advanced technology based magnetic resonance imaging devices among the end users.
- On the basis of distribution channel, the MRI coils market is segmented into direct tenders and retail sales. In 2021, retail sales segment is expected to dominate because retail sales provide online platform to buy MRI coils that can be delivered at the desired destination.
MRI Coils Market Country Level Analysis
The MRI coils market is analysed and market size information is provided by the country, product type, type, application, end user and distribution channel as referenced above.
The countries covered in the North America MRI coils market report are U.S., Canada, and Mexico.
The U.S. is dominating the market due to increasing awareness on early disease diagnosis and rise in healthcare expenditure
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
New Product Launches by Manufacturers is creating new opportunities for Players in the MRI Coils Market
The MRI coils market also provides you with detailed market analysis for every country growth in aesthetic industry with MRI coils market sales, impact of advancement in the MRI coils market and changes in regulatory scenarios with their support for the MRI coils market. The data is available for historic period 2010 to 2019.
Competitive Landscape and MRI Coils market Share Analysis
The MRI coils market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to MRI coils market.
Some of the major players operating in the MRI coils market are Siemens Healthcare Private Limited, Koninklijke Philips N.V., GE Healthcare, CANON MEDICAL SYSTEMS USA, INC.(a subsidiary of Canon Inc.), Hitachi, Ltd., ESAOTE SPA, Bruker, IMRIS, Monteris, Richardson Electronics, Ltd., AURORA HEALTHCARE US CORP, Medspira among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the MRI coils market.
For instance,
- In December 2020, SimonMed became the first imaging providers in outpatient procedures to deploy GE Healthcare’s SIGNA Architect 3T MRI scanner. The MRI scanner is said to be integrated with the new AIR coils which are blanket like. Their blanket like structure is light weight and folds around patient’s head to provide better imaging. These features have helped in the growth of the market and will follow the same trend in coming years.
Collaboration, joint ventures and other strategies by the market players is enhancing the company market in the MRI coils market which also provides the benefit for organisation to improve their offering for MRI coils market.
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