Press release
Magnetic Resonance Imaging Coils Market: Driving Factors and Key Trends
What Is The Projected Market Size Of The Global Magnetic Resonance Imaging Coils Market And Its Growth Rate?
The magnetic resonance imaging coils market has been showing a strong growth pattern in recent years and is projected to further expand:
• From $12.62 billion in 2024 to $13.53 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%
• By 2029, it is expected to reach $19.97 billion with a CAGR of 10.2%
Factors fuelling this increase include the rise of telemedicine, expansion of hybrid imaging, and initiatives involving precision and personalized medicine.
What Is Driving The Growth In The Magnetic Resonance Imaging Coils Market?
The pivotal driving force behind the market growth of magnetic resonance imaging coils is the increasing prevalence of chronic diseases globally. Chronic conditions, including heart disease and cancer, require ongoing medical attention and often limit daily activities, necessitating frequent use of MRI for diagnosis and treatment monitoring. The World Health Organization reports that chronic diseases cause 74% of deaths globally, with a significant number of these resulting from cardiovascular diseases, cancer, and chronic respiratory conditions. This escalating burden of chronic diseases is expected to boost the demand for MRI coils in the forthcoming years.
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Who Are the Key Players Driving Magnetic Resonance Imaging Coils Market Growth?
Key market players include:
• Esaote Spa
• GE Healthcare Technologies Inc.
• Koninklijke Philips NV
• Siemens Healthcare Private Limited
• MR Instruments Inc.
• Bruker Corp.
• Canon Medical Systems Corporation
• and many more.
What Are The Key Trends In The Magnetic Resonance Imaging Coils Market?
Some of the pivotal trends in the market are:
• Artificial intelligence (AI)-enhanced imaging
• Wearable and continuous monitoring
• Advanced materials and manufacturing
• Personalized coil design
• Low-field MRI systems
What Are The Segments Of The Global Magnetic Resonance Imaging Coils Market?
The market is segmented by:
• Type: Radiofrequency Coil, Gradient Coil
• Application: Neurology, Cardiovascular, Spine and Musculoskeletal, Pediatric, Breast, Abdominal, Other Applications
• End User: Hospitals, Diagnostic Imaging Centers, Other End Users
Which Region Leads The Magnetic Resonance Imaging Coils Market?
In terms of regional dominance, North America held the largest share of the magnetic resonance imaging coils market in 2024. However, the market is expected to witness the fastest growth in Asia-Pacific during the forecast period. Other significant regions include Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Magnetic Resonance Imaging Coils Market Global Market Report?
- Market Size Analysis: Analyze the Magnetic Resonance Imaging Coils Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Magnetic Resonance Imaging Coils Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Magnetic Resonance Imaging Coils Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Magnetic Resonance Imaging Coils Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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