Magnetic Resonance Imaging Coils Market Experiencing Transformation as OEMs Focus on Lightweight Coil Systems and Enhanced Patient Comfort

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Magnetic Resonance Imaging Coils Market- (By Type (Radiofrequency coil, Gradient coil), By Application (Neurology, Cardiovascular, Spine and musculoskeletal, Pediatric, Breast, Abdominal, Others), By End-Use (Hospitals, Diagnostic imaging centers, Ambulatory surgical centers, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Magnetic Resonance Imaging Coils Market is valued at USD 8.61 Bn in 2023, and it is expected to reach USD 15.82 Bn by the year 2031, with a CAGR of 8.00% during a forecast period of 2024-2031.

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Magnetic Resonance Imaging (MRI) coils, also known as radiofrequency (RF) coils, are critical components within MRI systems, playing a pivotal role in capturing high-resolution images of internal anatomical structures. These coils are essential for enhancing signal reception, thereby enabling detailed and accurate imaging necessary for medical diagnosis.

The global MRI coil market is experiencing steady growth, driven by several key factors. These include the increasing prevalence of chronic conditions such as cancer, ongoing technological advancements in medical imaging, and a rise in product innovations, including new launches and regulatory approvals. These developments are collectively contributing to the expansion of the market.

MRI technology is particularly valuable in oncology, where it assists in determining whether tumors are malignant or benign-most notably in diagnosing tumors of the brain and spine. Consequently, the growing incidence of such conditions is expected to increase demand for MRI procedures, thereby driving the need for advanced MRI coils.

According to data from the American Cancer Society, approximately 83,570 individuals in the United States were projected to be diagnosed with brain and other central nervous system (CNS) tumors in 2021. Of these cases, 24,530 were malignant, while 59,040 were nonmalignant. Additionally, these tumors were estimated to cause 18,600 deaths. Such statistics underscore the critical role of MRI technology in early diagnosis and treatment planning, reinforcing the importance of MRI coils in the broader medical imaging landscape.

List of Prominent Players in the Magnetic Resonance Imaging Coils Market:
• GE Healthcare
• Koninklijke Philips N.V.
• Siemens Healthcare AG
• Canon Medical Systems Corporation
• Esaote SPA
• MR Instruments, Inc.
• Rapid MR International, LLC.
• Scanmed, LLC.
• Bruker
• Medspira

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Market Dynamics
Drivers:
Recent advancements in MRI coil technology, such as the development of multi-channel and phased-array coils, have significantly enhanced image quality, reduced scanning times, and improved patient comfort. As MRI technology continues to evolve, there is a growing demand for high-performance coils capable of supporting a wide range of imaging applications. These innovations are driving the need for next-generation MRI coils that can fully leverage the capabilities of modern MRI systems, thereby supporting market growth.

Challenges:
A major constraint on market expansion is the high cost associated with MRI coils. The elevated price point has made diagnostic imaging procedures less accessible to many patients, often discouraging them from undergoing recommended tests. The total cost of diagnosis typically includes hospital charges, radiologist fees, equipment usage, and inpatient imaging costs. MRI coil pricing varies based on configuration and the number of channels, further contributing to cost variability and limiting widespread adoption in cost-sensitive markets.

Regional Trends:
North America currently holds the leading position in the global MRI coils market and is expected to maintain its dominance throughout the forecast period. This leadership is attributed to robust research initiatives, ongoing technological advancements in medical imaging, and a high prevalence of chronic diseases. Meanwhile, the Asia-Pacific region is anticipated to witness substantial growth, driven by increased government investment in healthcare infrastructure, a rising burden of chronic illnesses, and the emergence of key regional manufacturers focused on MRI coil production.

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Recent Developments:
• In July 2022, Siemens Healthineers successfully accelerated and enhanced the field of Magnetic Resonance Imaging with the integration of Artificial Intelligence. The implementation of Deep Resolve, a deep learning algorithm designed for image reconstruction, has allowed doctors to select a considerably shorter scan duration, thereby reducing noise levels and maintaining, or potentially enhancing, picture resolution and quality.
• In April 2022, Philips India began manufacturing radio frequency (RF) coils in the nation, which are used in Magnetic Resonance Imaging (MRI) equipment. India has now become a global hub for the production of these MR coils for Philips. These products are also sold to various OEMs throughout the world. The manufacture of MR coils is shifting from overseas to India.

Segmentation of Magnetic Resonance Imaging Coils Market-
By Type-
• Radiofrequency coil
• Gradient coil
By Application-
• Neurology
• Cardiovascular
• Spine and musculoskeletal
• Pediatric
• Breast
• Abdominal
• Others
By End-Use-
• Hospitals
• Diagnostic imaging centers
• Ambulatory surgical centers
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/magnetic-resonance-imaging-coils-market/2080

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This release was published on openPR.