The Business Research Company’s report on the Magnetic Resonance Imaging Coils Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the magnetic resonance imaging coils market?
The increasing prevalence of chronic diseases is expected to propel the growth of the magnetic resonance imaging coil market. Chronic diseases are those conditions that last for 1 year or more and require ongoing medical attention and restrict activities of daily living. Diseases such as heart disease, and cancer are leading chronic diseases where MRI plays an important role in diagnoses of a disease and also monitoring the body’s response to treatment. MRI coil receives the radio frequency signal coming from the patient’s body and transmits the data to a computer that generates images. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, and 4.1 million deaths from chronic respiratory diseases. As a result, increasing chronic diseases will be monitored by MRI machines more frequently. Therefore, the increasing prevalence of chronic diseases is expected to boost the demand for magnetic resonance imaging coils during the forecast period.
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How has the magnetic resonance imaging coils market size evolved, and what are the latest forecasts for its expansion?
The magnetic resonance imaging coils market size has grown strongly in recent years. It will grow from $12.62 billion in 2024 to $13.53 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increased prevalence of chronic diseases, aging population, research and development, rising healthcare expenditure, regulatory compliance.
The magnetic resonance imaging coils market size is expected to see rapid growth in the next few years. It will grow to $19.97 billion in 2029 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to rise of telemedicine, expansion of hybrid imaging, precision medicine initiatives, personalized medicine, rapid diagnosis and treatment. Major trends in the forecast period include artificial intelligence (ai)-enhanced imaging, wearable and continuous monitoring, advanced materials and manufacturing, personalized coil design, low-field mri systems.
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Which major companies dominate the magnetic resonance imaging coils market?
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 trends will shape the future of the magnet wire market?
Major companies operating in the magnetic resonance imaging coils market are focused on developing smart fit coils to enhance patient comfort, improve image quality, and streamline workflow efficiency by automatically adjusting to different body sizes and shapes. Smart fit coils refer to advanced magnetic resonance imaging (MRI) coils that automatically adjust their shape and size to fit a patient’s body. The Smart Fit coils can bend over 90 degrees in all directions, allowing them to adapt to various anatomical structures. This flexibility is particularly beneficial for imaging challenging areas, such as long bones or patients with plaster casts. For instance, in November 2023, Koninklijke Philips N.V., a Netherlands-based company, launched MR Smart Fit coils, The coils are significantly lighter than traditional options, which contributes to improved patient comfort and ease of handling for medical staff. The Smart Fit 1.5T shoulder coil is designed to reduce setup time by around 10%. This efficiency allows patients to be prepared while sitting on the examination table, streamlining the overall process. These coils are optimized for use with Philips’ SmartSpeed AI solution, which enhances image quality and resolution.
Which region dominates the magnetic resonance imaging coils market, and what factors contribute to its leadership?
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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How is the magnetic resonance imaging coils market segmented, and which segment holds the largest share?
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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What defines the structure and scope of the magnetic resonance imaging coils market?
The magnetic resonance imaging coil is an essential component of an MRI machine and allows to capture of high-end images of specific body parts. MRI consists of multiple coils which serve different purposes, such as, they act as transmitters to develop a rotating magnetic field and also as receivers to detect radio-frequency signs. MRI or magnetic resonance imaging is a non-invasive imaging technology that uses magnetic fields, radio waves, and a computer to create detailed anatomical images of the human body. It is used as a hardware components to increase the performance of magnetic resonance imaging systems for imaging various medical conditions or injuries.
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