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Magnetic Resonance Imaging Coils Global Market Report 2023


Major players in the magnetic resonance imaging coils market are Esaote Spa, GE Healthcare, Koninklijke Philips NV, Siemens Healthcare Private Limited, MR Instruments Inc., RAPID MR International LLC, ScanMed, Canon Medical Systems Corporation, Hologic Inc.

New York, March 07, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Magnetic Resonance Imaging Coils Global Market Report 2023" -
, Bruker, IMRIS, Monteris, MEDSPIRA, Hitachi Ltd.

The global magnetic resonance imaging coils market grew from $10.87 billion in 2022 to $11.9 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The magnetic resonance imaging coils market is expected to grow to $16.86 billion in 2027 at a CAGR of 9.1%.

The magnetic resonance imaging coil market consists of sales of array coil, body wrap-around coil, linearly polarized coil, saddle coil, circularly polarized coil, quadrature coil, bird cage coil, crossed coil, Helmholtz pair coil, paired saddle coil, single turn solenoid, transmit only coil, receive only coil and transmit-receive coil.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Magnetic resonance imagining 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.

North America was the largest region in the magnetic resonance imaging coils market in 2022.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 are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of magnetic resonance imaging coils are radiofrequency coil and gradient coil.The radiofrequency coils are used to excite the aligned magnetic spins and receive an RF signal back from the sample.

The radiofrequency coil is an essential hardware component of an MRI system.These coils are antennas for the MRI system, which serve two purposes, to distribute power to the magnetization (Tx-Coil) and to receive the signal generated by the excited spins (Rx-Coil).

The various applications of magnetic resonance imaging coils include neurology, cardiovascular, spine and musculoskeletal, pediatric, breast, abdominal, and other applications that are suitable for hospitals, diagnostic imaging centers, and other end-users.

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, according to World Health Organization (WHO), cardiovascular diseases are estimated for 32% of all deaths worldwide and chronic disease prevalence is expected to rise by 57% in the year 2020.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.

Technological advancements are the key trend gaining popularity in the magnetic resonance imaging market.Major companies operating in the market are introducing technological innovations such as the use of Artificial Intelligence (AI) coil in the magnetic resonance imaging machines to ensure high-resolution image quality and image reconstruction to sustain their position in the market.

For Instance, in November 2021, Koninklijke Philips N.V, a Netherland-based multinational medical equipment, and home appliance company, launched AI-enabled innovations in MR imaging that includes Philips MR 5300 and 7700 system to boost MR exam speed, streamline workflows, improve diagnostic quality, and ensure radiology operations are efficient and sustainable.

In December 2021, GE Healthcare, a US-based company that offers diagnostics, therapeutics, and monitoring through intelligent devices acquired BK Medical for an undisclosed amount.With this acquisition, GE Healthcare expands its pre-and post-operative Ultrasound capabilities to include the fast-growing and relatively new field of real-time surgical visualization, creating an end-to-end offering across the full continuum of care—from diagnosis to therapy and beyond.

BK Medical will be able to reach new customers and markets around the world thanks to significant synergies and the benefit of GE’s technology and commercial scale. BK Medical, a US-based company combines the best visualization and guidance software available into a single system that displays MRI and real-time ultrasound simultaneously.

The countries covered in the magnetic resonance imaging coils market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The magnetic resonance imaging coils market research report is one of a series of new reports that provides Magnetic resonance imaging coils market statistics, including magnetic resonance imaging coils industry global market size, regional shares, competitors with a magnetic resonance imaging coils market share, detailed magnetic resonance imaging coils market segments, market trends and opportunities, and any further data you may need to thrive in the magnetic resonance imaging coils industry. This magnetic resonance imaging coils market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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