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The Growing Prevalence Of Chronic Diseases And The Impact On The Magnetic Resonance Imaging Coil Market: A Key Driver Powering Magnetic Resonance Imaging Coils Market Growth In 2025
Magnetic Resonance Imaging Coils
What Is the Current Magnetic Resonance Imaging Coils Market Size and Its Estimated Growth Rate?
The market for magnetic resonance imaging coils has seen considerable growth in recent periods. The market size is projected to rise from $12.62 billion in 2024 to $13.53 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.2%. Factors such as the higher occurrence of chronic illnesses, an aging demographic, advances in research and development, escalating healthcare costs, and regulatory adherence contributed to the growth throughout the historic span.
The market size for magnetic resonance imaging coils is set to experience fast-paced growth in the upcoming years, expanding to $19.97 billion in 2029 with a compound annual growth rate (CAGR) of 10.2%. The growth expected within this forecast period can be linked to the emergence of telemedicine, developments in hybrid imaging, initiatives in precision medicine, trends in personalized medicine, and swifter diagnosis and treatments. The forecast period will also witness several key trends including AI-enhanced imaging, wearable constant monitoring, advancements in materials and manufacturing, customized coil design, and low-field MRI systems.
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How Are Emerging Segments Shaping the Magnetic Resonance Imaging Coils Market Landscape?
The magnetic resonance imaging coils market covered in this report is segmented -
1) By Type: Radiofrequency Coil, Gradient Coil
2) By Application: Neurology, Cardiovascular, Spine and Musculoskeletal, Pediatric, Breast, Abdominal, Other Applications
3) By End User: Hospitals, Diagnostic Imaging Centers, Other End Users
Subsegments:
1) By Radiofrequency Coil: Head Coil, Body Coil, Extremity Coil, Surface Coil
2) By Gradient Coil: Standard Gradient Coil, High-Performance Gradient Coil, Specialized Gradient Coil
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Which Growth Factors Are Influencing Magnetic Resonance Imaging Coils Market Expansion?
The escalating incidences of chronic diseases are projected to spur the expansion of the magnetic resonance imaging coil market. Chronic diseases, being long term conditions that necessitate ongoing medical treatment and limit day-to-day routines, are on the rise. Conditions like heart disease and cancer are chief among these chronic diseases where MRI holds significance not only in diagnosing but also in tracking the body's response to medication. The MRI coil captures the radio frequency signals emerging from the body and delivers this data to the computer to generate images. The World Health Organization, a specialized agency of the United Nations stationed in Switzerland, reported that there were 41 million deaths in September 2023, constituting 74% of those attributed to non-communicable or chronic diseases globally. Cardiovascular diseases claimed 17.9 million lives, cancer caused 9.3 million deaths, and chronic respiratory diseases resulted in 4.1 million deaths annually. As such, the growing prevalence of these chronic conditions will necessitate frequent monitoring by MRI machines. Consequently, this upward trend of chronic diseases is anticipated to drive the demand for magnetic resonance imaging coils during the projected period.
Who Are the Dominant Players Across Different Magnetic Resonance Imaging Coils Market Segments?
Major companies operating in the magnetic resonance imaging coils market include Esaote Spa, GE Healthcare Technologies Inc., Koninklijke Philips NV, Siemens Healthcare Private Limited, MR Instruments Inc., Bruker Corp., Canon Medical Systems Corporation, Hologic Inc., RAPID MR International LLC, ScanMed Technology Pty Ltd., Aurora Healthcare US Corp., Monteris Medical Corp., Fonar Corporation, Schneider Electric SE, Medtronic Inc., Signet Systems Inc., DirectMed Inc., Hitachi Medical Systems America Inc., Invivo Corporation, Medrad Inc., NeuroLogica Corp., Philips Healthcare, Shimadzu Corporation, Toshiba Medical Systems Corporation, Analogic Corporation
What Are the Latest Developing Trends in the Magnetic Resonance Imaging Coils Market?
Top firms in the magnetic resonance imaging coils industry are concentrating on the creation of smart fit coils to boost patient ease, increase image clarity, and automate workflow efficacy by spontaneously fitting different body sizes and shapes. Advanced MRI coils known as smart fit coils automatically conform to the patient's body shape and size. These smart fit coils can flex more than 90 degrees in every direction, allowing them to adjust to a variety of bodily structures. This adaptability is particularly useful when imaging challenging areas such as elongated bones or patients with plaster casts. For example, in November 2023, Koninklijke Philips N.V., a company based in the Netherlands, introduced their MR Smart Fit coils. These coils are substantially lighter compared to traditional alternatives, leading to improved comfort for the patients and simpler handling procedures for healthcare staff. The Smart Fit 1.5T shoulder coil is specifically created to reduce setup duration by approximately 10%. This efficiency enables the patient's preparation to be done while seated on the examination table, simplifying the entire process. These smart fit coils are designed for optimal usage with the Philips' SmartSpeed AI solution, enhancing image precision and resolution.
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Which Geographic Regions Are Expected to Dominate the Magnetic Resonance Imaging Coils Market in the Coming Years?
North America was the largest region in the magnetic resonance imaging coils market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the magnetic resonance imaging coils market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Magnetic Resonance Imaging Coils Market?
2. What is the CAGR expected in the Magnetic Resonance Imaging Coils Market?
3. What Are the Key Innovations Transforming the Magnetic Resonance Imaging Coils Industry?
4. Which Region Is Leading the Magnetic Resonance Imaging Coils Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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