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Global Magnetic Resonance Imaging Coils Market (2021 to 2028) - by Type, Application, End-use and Region

·10-min read

Dublin, Sept. 22, 2021 (GLOBE NEWSWIRE) -- The "Global Magnetic Resonance Imaging Coils Market Size, Share & Trends Analysis Report by Type (Radiofrequency, Gradient), by Application (Neurology, Cardiovascular), by End-use (Hospitals, Diagnostic Imaging Centers), and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The global magnetic resonance imaging coils market size is expected to reach USD 13.7 billion by 2028. The market is expected to expand at a CAGR of 7.5% from 2021 to 2028. The growing prevalence of chronic diseases such as cardiovascular, neurological, cancer, and urological is expected to drive the market. Rising chronic diseases is a global healthcare concern. In the U.S., over half of the adult population suffers from these chronic diseases. Around 75.0% of the total healthcare expenditure in the U.S. is used for providing care for these chronic conditions.

For instance, as per the National Cancer Institute, in 2020, around 1,806,590 new cancer cases were diagnosed in the U.S. Similarly, as per American Heart Association, the mortality related to cardiovascular diseases is very high, with around 17.3 million deaths registered per year. This death rate is projected to reach 23.6 million by 2030. These diseases require imaging tools, mainly magnetic resonance imaging (MRI), for diagnosis and monitoring of progression as well as treatment effects. The growing demand for MRI for various applications will lead to the adoption of MRI coils, which, in turn, may propel market growth.

Additionally, growing awareness regarding early diagnosis is also expected to contribute to market growth. Cancer and cardiovascular diseases together result in the highest global mortality rate. This has captured the attention of various governments and healthcare organizations and is driving them towards creating awareness regarding these diseases. For instance, in 2010, prevention and early detection services were offered free of cost to people aged 65 years and above through Medicare under the Affordable Care Act. Similarly, the Indian Cancer Society runs a Cancer Awareness and Educational Program. Through this program, it aims to create awareness regarding signs and symptoms of the disease and commercially available cancer treatments and diagnostic tools. It also aims at creating awareness regarding the benefits of early diagnosis of disease. Growing awareness will contribute towards the adoption of MRI and MRI coils during the forecast period.

Since the demand for magnetic resonance imaging machines is increasing, market players are developing advanced and high field strength (7T) magnetic resonance imaging machines. The growing development of these machines is creating opportunities for various players manufacturing MRI coils, to develop coils that support high field strength machines. Currently, magnetic resonance imaging coils for high field strength machine is only available for head and knee application, however, various research institutes are researching to understand it's efficiency in other applications as well. Despite these advancements, the high cost of MRI coils, new or refurbished is expected to hinder the market growth.

Magnetic Resonance Imaging Coils Market Report Highlights

  • The radiofrequency coil segment held the largest revenue share in 2020 and is expected to grow at the fastest rate during the forecast period

  • Development of advanced radiofrequency coil for various application is expected to contribute towards segment growth

  • The neurology segment held the largest revenue share and is expected to grow at the fastest rate over the forecast period owing to the rising number of research activities being conducted regarding the efficiency of head coils with 7T MRI machines for neurological conditions

  • The pediatric segment is also expected to grow at a significant rate owing to the development of semi-flexible array coils for pediatric magnetic resonance imaging to avoid challenges associated with the imaging

  • The hospitals segment held the largest revenue share in the market in the end-use segment. Increasing installation of advanced MRI machines in these settings is expected to drive the demand for magnetic resonance imaging coils

  • The ambulatory care centers segment is expected to grow at the fastest rate during the forecast period owing to the increasing number of MRI scans performed in these settings due to reduced wait time and cost

  • North America held the largest revenue share in 2020 owing to the presence of a large number of market players and growing initiatives for the development of advanced MRI coils

  • In Asia Pacific, the market is expected to experience the fastest growth rate during the forecast period owing to the increasing prevalence of chronic diseases in the region and growing demand for MRI

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Magnetic Resonance Imaging (MRI) Coils Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Reimbursement framework
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Rising patient population
3.4.1.2. Technological advancement
3.4.1.3. Increasing awareness regarding early diagnosis
3.4.2. Market restraint analysis
3.4.2.1. High cost of MRI coils
3.4.3. Industry challenges
3.5. MRI Coils Market Analysis Tools
3.5.1. Industry Analysis - Porter's
3.5.1.1. Supplier power
3.5.1.2. Buyer power
3.5.1.3. Substitution threat
3.5.1.4. Threat of new entrant
3.5.1.5. Competitive rivalry
3.5.2. PESTEL Analysis
3.5.2.1. Political landscape
3.5.2.2. Technological landscape
3.5.2.3. Economic landscape
3.5.3. Major Deals & Strategic Alliances Analysis
3.5.4. Market Entry Strategies
3.5.5. COVID-19 Impact Analysis

Chapter 4. Type Estimates & Trend Analysis
4.1. Definitions and Scope
4.1.1. Radiofrequency Coil
4.1.2. Gradient Coil
4.2. Type Market Share, 2020 & 2028
4.3. Segment Dashboard
4.4. Global MRI Coils Market by Type Outlook
4.5. Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the following
4.5.1. Radiofrequency Coil
4.5.1.1. Market estimates and forecast 2016 - 2028 (Revenue, USD Million)
4.5.2. Gradient Coil
4.5.2.1. Market estimates and forecast, 2016 - 2028 (Revenue, USD Million)

Chapter 5. Application Estimates & Trend Analysis
5.1. Definitions and Scope
5.1.1. Neurology
5.1.2. Cardiovascular
5.1.3. Spine and Musculoskeletal
5.1.4. Pediatric
5.1.5. Breast
5.1.6. Abdominal
5.1.7. Others
5.2. Application Market Share, 2020 & 2028
5.3. Segment Dashboard
5.4. Global MRI Coils Market by Application Outlook
5.5. Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the following
5.5.1. Neurology
5.5.1.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)
5.5.2. Cardiovascular
5.5.2.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)
5.5.3. Spine and Musculoskeletal
5.5.3.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)
5.5.4. Pediatric
5.5.4.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)
5.5.5. Breast
5.5.5.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)
5.5.6. Abdominal
5.5.6.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)
5.5.7. Others
5.5.7.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)

Chapter 6. End-use Estimates & Trend Analysis
6.1. Definitions and Scope
6.1.1. Hospitals
6.1.2. Diagnostic Imaging Centers
6.1.3. Ambulatory Care Centers
6.1.4. Others
6.2. End-use Market Share, 2020 & 2028
6.3. Segment Dashboard
6.4. Global MRI Coils Market By End-Use Outlook
6.5. Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the following
6.5.1. Hospitals
6.5.1.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)
6.5.2. Diagnostic Imaging Centers
6.5.2.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)
6.5.3. Ambulatory Care Centers
6.5.3.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)
6.5.4. Others
6.5.4.1. Market estimates and forecast, 2016 - 2028 (Revenue in USD Million)

Chapter 7. Magnetic Resonance Imaging (MRI) Coils Market: Regional Estimates & Trend Analysis

Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.2.1. Innovators
8.2.2. Market Leaders
8.2.3. Emerging Players
8.3. Vendor Landscape
8.3.1. List of key distributors and channel partners
8.3.2. Key customers
8.3.3. Key company market share analysis, 2020
8.4. Public Companies
8.4.1. Company market position analysis (Revenue, geographic presence, product portfolio, key serviceable industries, key alliances)
8.4.2. Company Market Share/Ranking, by region
8.4.3. Competitive Dashboard Analysis
8.4.3.1. Market Differentiators
8.4.3.2. Synergy Analysis: Major Deals and Strategic Alliances
8.5. Private Companies
8.5.1. List of key emerging companies/technology disruptors/innovators
8.5.2. Funding Outlook
8.5.3. Regional Network Map
8.5.4. Company market position analysis (geographic presence, product portfolio, key alliance, industry experience)
8.6. Supplier Ranking
8.7. Key company profiled
8.7.1. ESAOTE SPA
8.7.1.1. Company overview
8.7.1.2. Financial performance
8.7.1.3. Product benchmarking
8.7.1.4. Strategic initiatives
8.7.2. GE Healthcare
8.7.2.1. Company overview
8.7.2.2. Financial performance
8.7.2.3. Product benchmarking
8.7.2.4. Strategic initiatives
8.7.3. Koninklijke Philips N.V.
8.7.3.1. Company overview
8.7.3.2. Financial performance
8.7.3.3. Product benchmarking
8.7.3.4. Strategic initiatives
8.7.4. Siemens Healthcare Private Limited
8.7.4.1. Company overview
8.7.4.2. Financial performance
8.7.4.3. Product benchmarking
8.7.4.4. Strategic initiatives
8.7.5. MR Instruments, Inc.
8.7.5.1. Company overview
8.7.5.2. Financial performance
8.7.5.3. Product benchmarking
8.7.5.4. Strategic initiatives
8.7.6. RAPID MR International, LLC
8.7.6.1. Company overview
8.7.6.2. Financial performance
8.7.6.3. Product benchmarking
8.7.6.4. Strategic initiatives
8.7.7. ScanMed
8.7.7.1. Company overview
8.7.7.2. Financial performance
8.7.7.3. Product benchmarking
8.7.7.4. Strategic initiatives
8.7.8. CANON MEDICAL SYSTEMS CORPORATION
8.7.8.1. Company overview
8.7.8.2. Financial performance
8.7.8.3. Product benchmarking
8.7.8.4. Strategic initiatives
8.7.9. Hologic Inc.
8.7.9.1. Company overview
8.7.9.2. Financial performance
8.7.9.3. Product benchmarking
8.7.9.4. Strategic initiatives
8.7.10. Bruker
8.7.10.1. Company overview
8.7.10.2. Financial performance
8.7.10.3. Product benchmarking
8.7.10.4. Strategic initiatives

For more information about this report visit https://www.researchandmarkets.com/r/c5ekne

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