Magnetic Resonance Imaging Coils Market Size, Share, Report and Forecast 2024-2032

The magnetic resonance imaging coils market size was valued at USD 9.1 billion in 2023, driven by expanding healthcare systems, rising healthcare expenditure, and increasing awareness of early disease diagnosis across the globe. The market size is anticipated to grow at a CAGR of 8.1% during the forecast period of 2024-2032 to achieve a value of USD 18.4 billion by 2032.

Magnetic Resonance Imaging Coils: Introduction

Magnetic resonance imaging (MRI) Coils are critical components of MRI systems, playing a pivotal role in the quality and efficiency of MRI scans. These coils function as antennas, responsible for both transmitting the radiofrequency (RF) pulses that excite the hydrogen atoms in the body and receiving the signals emitted by these atoms. The quality of the images produced by an MRI scanner is heavily dependent on the performance of these coils.

MRI coils come in various types and designs, tailored to specific body parts or imaging needs. Some are built into the MRI machine (such as the body coil), while others are external, designed to be placed close to the area being imaged for more detailed images (e.g., head coils, knee coils, breast coils). Advances in MRI coil technology have led to the development of multi-channel coils that can acquire data from multiple points simultaneously, greatly enhancing image resolution and reducing scan times. As indispensable tools in diagnostic imaging, MRI coils play a crucial role in the accurate diagnosis and treatment planning for a wide range of medical conditions.

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Key Trends in the Global Magnetic Resonance Imaging Coils Market 

The magnetic resonance imaging (MRI) coils market was influenced by several key trends. One significant trend was the advancement in multi-channel coil technology, offering improved image quality and faster scanning times. There was a growing focus on developing lightweight and flexible coils, enhancing patient comfort, especially in cases requiring long scan times. The integration of artificial intelligence (AI) and advanced software was gaining momentum, aiding in coil optimization and ensuring higher image resolution. Another trend was the increasing demand for specialized coils, designed for specific anatomical areas or patient groups, such as pediatric or obese patients. The market also saw a rise in the adoption of wireless coils, reducing setup time and improving workflow efficiency in MRI procedures.

Additionally, there was a trend towards the development of coils compatible with high-field MRI systems, catering to the need for higher image clarity. Geographically, emerging markets were witnessing increased investments in healthcare infrastructure, including advanced imaging facilities, thus expanding the market reach. Despite these positive trends, challenges such as high costs and the need for skilled professionals to handle advanced coil systems persisted. Nevertheless, the global MRI Coils market was poised for growth, driven by continuous technological innovations and the critical role of MRI in diagnostic imaging.

Magnetic Resonance Imaging Coils Market Segmentation

Market Breakup by Product Type 

Phased-Array
Quadrature

Market Breakup by Type 

Volume Coils
Gradient Coils
Radiofrequency Coils
Surface
Others

Market Breakup by Applications 

Neuroimaging
Cardiovascular
Musculoskeletal
Gastrointestinal
Paediatric
Breast
Others

Market Breakup by End User 

Hospitals
Diagnostic Imaging Centre
Others

Market Breakup by Distribution Channel 

Direct Tenders
Retail Sales

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Magnetic Resonance Imaging Coils Market Overview

The global magnetic resonance imaging (MRI) coils market was a dynamic and essential segment within the medical imaging sector, witnessing steady growth.

North America was leading the global market, underpinned by advanced healthcare infrastructure, high adoption of innovative imaging technologies, and a strong presence of leading MRI manufacturers. Europe also held a substantial share, supported by increasing healthcare investments and a focus on improving diagnostic accuracy. The Asia Pacific region was experiencing rapid growth, driven by expanding healthcare systems, rising healthcare expenditure, and increasing awareness of early disease diagnosis. The market featured a wide array of coils, including multi-channel, specialized, and wireless coils, catering to diverse imaging needs. Key market players were engaged in continuous R&D to enhance coil performance, patient comfort, and compatibility with high-field MRI systems.

Despite the growth, the market faced challenges such as the high costs associated with advanced coils and the need for skilled professionals for optimal utilization. However, the global MRI Coils market was poised for continued expansion, propelled by the increasing demand for high-quality diagnostic imaging and ongoing technological advancements in MRI coil design.

Magnetic Resonance Imaging Coils Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

General Electric
Koninklijke Philips N.V.
Siemens Healthcare GmbH
AURORA HEALTHCARE US CORP
NORAS MRI products
ESAOTE SPA
Hitachi, Ltd.
Bruker
IMRIS
Monteris
Nael Medical - Part of NBHH Group
MEDSPIRA
CANON MEDICAL SYSTEMS USA, INC.

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