The global magnetic resonance imaging coils market size is expected to reach USD 15.79 billion by 2030, expanding at 8.7% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. According to the WHO, neurological disorders are responsible for more than 10% of the worldwide burden of disease, with stroke and dementia being the most common causes of disability and death. This is driving the scope of magnetic resonance imaging (MRI) coils globally. In addition, technological advancements are also playing a key role in growth worldwide.
COVID-19 had a significant impact on the industry. The major impact of the pandemic on the imaging diagnostics sector was the disruption of the global supply chain. The manufacturing of MRI coils is a complex process that involves the use of specialized materials and equipment. The pandemic caused disruptions in the availability of these materials and appliances, leading to delays in the production and distribution of magnetic resonance imaging (MRI) coils.
However, the introduction of multipurpose diagnostics is one of the major factors fuelling the market growth. Increasing use of advanced equipment for rapid diagnosis and predictive analysis in various countries is anticipated to contribute to the market. Various factors, such as increasing demand for early diagnosis of chronic diseases and the growing geriatric population, are likely to boost the demand for the sector.
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Based on type, radiofrequency coil segments accounted for the largest market share of 59.5% in 2022. It is also anticipated to grow at the fastest CAGR of 8.9 % over the forecast period.
Based on application, the neurology segment accounted for the largest market share of 22.6% in 2022 and the segment is also expected to witness the fastest CAGR of 8.9%.
Based on end-use, the hospital segment accounted for the highest revenue share and the ambulatory care center segment is expected to grow with the fastest CAGR of 9.1%.
Grand View Research has segmented the global magnetic resonance imaging coils market based on type, application, end-use, and region:
MRI Coils Type Outlook (Revenue, USD Million, 2018 - 2030)
MRI Coils Application Outlook (Revenue, USD Million, 2018 - 2030)
Spine and Musculoskeletal
MRI Coils End-use Outlook (Revenue, USD Million, 2018 - 2030)
Diagnostic Imaging Centers
Ambulatory Care Centers
MRI Coils Regional Outlook (Revenue, USD Million, 2018 - 2030)
Middle East & Africa
List of Key Players in Magnetic Resonance Imaging Coils Market
KONINKLIJKE PHILIPS N.V.
SIEMENS HEALTHINEERS AG
CANON MEDICAL SYSTEMS CORPORATION
MR INSTRUMENTS, INC.
RAPID MR INTERNATIONAL, LLC.
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