The Growing Prevalence Of Chronic Diseases And The Impact On The Magnetic Resonance Imaging Coil Market: The Driving Engine Behind Magnetic Resonance Imaging Coils Market Evolution in 2025

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Magnetic Resonance Imaging Coils Market Size Growth Forecast: What to Expect by 2025?
In recent years, the magnetic resonance imaging coils market has seen substantial growth. The market size is projected to increase from $12.62 billion in 2024 to $13.31 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.5%. Factors contributing to this historic period growth include the rising number of chronic diseases, an aging population, advances in research and development, increased healthcare spending, and regulatory compliance.

How Will the Magnetic Resonance Imaging Coils Market Size Evolve and Grow by 2029?
Anticipated to witness a robust growth in the upcoming years, the market for magnetic resonance imaging coils is predicted to expand to $19.25 billion by 2029, accelerating at a compound annual growth rate (CAGR) of 9.7%. This optimistic projection is largely a function of the growing adoption of telemedicine, advancements in hybrid imaging, dedication towards precision medicine initiatives, personalized medication regimes, and the increasing efficacy of rapid diagnosis and treatment. Key trends propelling this market during the forecast period are AI-enabled image processing, prevalent utilization of wearable for consistent health monitoring, the introduction of innovative materials and manufacturing processes, custom-built coil designs, and the proliferation of low-field MRI systems.

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What Drivers Are Propelling the Growth of Magnetic Resonance Imaging Coils Market Forward?
The growth of the magnetic resonance imaging coil market is anticipated to be fuelled by the rising incidence of chronic diseases. These are health conditions that persist for a year or more, necessitating continuous medical care and constraining everyday activities. MRI becomes crucial in the diagnosis of major chronic diseases such as heart disease and cancer and in monitoring the body's response to treatment. The MRI coil picks up the radio frequency signal from the patient's body and sends the information to a computer to create images. For example, in September 2023, the World Health Organization, a specialized agency of the United Nations headquartered in Switzerland, reported 41 million deaths, 74% of which were due to non-communicable diseases (NCDs) or chronic diseases every year worldwide. Deaths from cardiovascular diseases were 17.9 million, while cancer claimed 9.3 million lives, and chronic respiratory diseases caused 4.1 million deaths. Consequently, the increased incidence of chronic diseases will necessitate more frequent use of MRI machines. Hence, the upsurge in chronic diseases is projected to stimulate demand for magnetic resonance imaging coils during the forecast period.

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What Long-Term Trends Will Define the Future of the Magnetic Resonance Imaging Coils Market?
Many significant players in the magnetic resonance imaging coils market are concentrating on producing innovative smart-fit coils. These aim to heighten patient comfort, optimize image excellence, and boost workflow productivity by self-modifying to various body sizes and forms. They refer to cutting-edge Magnetic Resonance Imaging (MRI) coils that auto-adjust their form to fit the patient's body seamlessly. With the ability to bend more than 90 degrees in every direction, these Smart Fit coils can conform to different body structures. This adaptability proves profoundly useful in imaging complicated areas like elongated bones or patients wearing plaster casts. For instance, Koninklijke Philips N.V., a company based in the Netherlands, rolled out the MR Smart Fit coils in November 2023. These coils are noticeably more lightweight as compared to previous alternatives, adding to enhanced comfort for the patient and easier handling for medical professionals. The novel Smart Fit 1.5T shoulder coil has been designed to cut down on setup time by around 10%, enabling patients to get ready on the examination table itself, thereby simplifying the entire procedure. These coils have been designed for compatibility with Philips' SmartSpeed AI solution for better image quality and resolution.

What Are the Key Segments in the Magnetic Resonance Imaging Coils Market?
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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Who Are the Key Players Shaping the Magnetic Resonance Imaging Coils Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Magnetic Resonance Imaging Coils Market?
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.

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