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Global Magnetic Resonance Imaging Coils Market Size, Share: By Product Type: Phased-Array, Quadrature; By Type: Volume Coils, Gradient Coils, Radiofrequency Coils, Surface, Others; By Applications: Neuroimaging, Cardiovascular, Musculoskeletal, Others; By End User; By Distribution Channel; Regional Analysis; Supplier Landscape; 2024-2032
Global Magnetic Resonance Imaging Coils Market Outlook
The global magnetic resonance imaging coils market size was valued at USD 9.1 billion in 2023, driven by the increasing demand for medical diagnostics across the globe. The market is expected to grow at a CAGR of 8.1% during the forecast period of 2024-2032, with the values likely to rise from USD 9.8 billion in 2024 to USD 18.4 billion by 2032.
Global Magnetic Resonance Imaging Coils: Introduction
Magnetic resonance imaging or MRI is a non-invasive imaging technology used to produce high quality images of the body’s internal structures. Magnetic resonance imaging coils are used to help the system capture high-quality images by transmitting strong magnetic fields and radio waves to capture the image. A coil is an integral part of an MRI because getting an image without it is not possible.
Radiofrequency coils are the most common type of MRI coils that work by converting signals into data that gets transferred to the computer and later interpreted to get the final image. Volume coils, surface coils, gradient coils are other common types.
Global Magnetic Resonance Imaging Coils Market Analysis
Magnetic resonance imaging coils are segmented into gradient coils, radio-frequency coils, and volume coils. As per contemporary trends, scientists are focused at creating better designs that are efficient and allow a vast coverage of several body parts to facilitate better visualisation of the human anatomy in short span of time. For example, AIR™ Coils by GE Healthcare aids better adaptability in patient diagnosis. It is light, accessible, easy to position coil that boasts a 360-degree coverage. Hence, we can anticipate magnetic resonance imaging coils market growth in the forecast period.
In July 2023, the University of Birmingham came up with research which indicated that using copper in MRI system could help create better images for effective diagnosis. The ongoing development to enhance the existing system is a huge indicator that the magnetic resonance imaging coils market value will experience valuable additions in the future.
Global Magnetic Resonance Imaging Coils Market Segmentation
Market Breakup by Product Type
- Phased-Array
- Quadrature
Market Breakup by Type
- Volume Coils
- Gradient Coils
- Radiofrequency Coils
- Surface
- Others
Market Breakup by Applications
- Neuroimaging
- Cardiovascular
- Musculoskeletal
- Gastrointestinal
- Pediatric
- Breast
- Others
Market Breakup by End User
- Hospitals
- Diagnostic Imaging Centre
- Others
Market Breakup by Distribution Channel
- Direct Tenders
- Retail Sales
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Magnetic Resonance Imaging Coils Market Overview
MRI has wide range of medical diagnostic applications. It is applicable in neuroimaging, cardiovascular imaging, angiographies and even cancer diagnosis. In 2023, 1,958,310 new cancer cases are projected to occur in the United States. The presence of a well-developed medical infrastructure, which has led to the development premium diagnostic and imaging facilities, is a key factor contributing to a huge market size. However, fastest growth in the industry will be observed in Asia Pacific region owing to increased foreign investments.
Philips started manufacturing radio-frequency magnetic coils in India, which brought approximately INR 400 crore investment under the PLI government scheme. This indicates that the government is also bringing leniency to the law and order to attract investments. Moreover, with the occurrence of a geriatric population, the prevalence of chronic diseases will increase in the area, bringing considerable value to the market size. Therefore, we can anticipate substantial magnetic resonance imaging coils market growth in the future.
Global Magnetic Resonance Imaging Coils Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- General Electric
- Koninklijke Philips N.V.
- Siemens Healthcare GmbH
- AURORA HEALTHCARE US CORP
- NORAS MRI products
- ESAOTE SPA
- Hitachi, Ltd.
- Bruker
- IMRIS
- Monteris
- Nael Medical - Part of NBHH Group
- MEDSPIRA
- CANON MEDICAL SYSTEMS USA, INC.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Type |
|
| Breakup by Applications |
|
| Breakup by End User |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Magnetic Resonance Imaging (MRI) Coils Market Overview
3.1 Global Magnetic Resonance Imaging (MRI) Coils Market Historical Value (2017-2023)
3.2 Global Magnetic Resonance Imaging (MRI) Coils Market Forecast Value (2024-2032)
4 Global Magnetic Resonance Imaging (MRI) Coils Market Landscape
4.1 Global Magnetic Resonance Imaging (MRI) Coils Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Magnetic Resonance Imaging (MRI) Coils Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by Type
4.2.3 Analysis by Applications
5 Global Magnetic Resonance Imaging (MRI) Coils Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Magnetic Resonance Imaging (MRI) Coils Market Segmentation
6.1 Global Magnetic Resonance Imaging (MRI) Coils Market by Product Type
6.1.1 Market Overview
6.1.2 Phased-Array
6.1.3 Quadrature
6.2 Global Magnetic Resonance Imaging (MRI) Coils Market by Type
6.2.1 Market Overview
6.2.2 Volume Coils
6.2.3 Gradient Coils
6.2.4 Radiofrequency Coils
6.2.5 Surface
6.2.6 Others
6.3 Global Magnetic Resonance Imaging (MRI) Coils Market by Applications
6.3.1 Market Overview
6.3.2 Neuroimaging
6.3.3 Cardiovascular
6.3.4 Musculoskeletal
6.3.5 Gastrointestinal
6.3.6 Pediatric
6.3.7 Breast
6.3.8 Others
6.4 Global Magnetic Resonance Imaging (MRI) Coils Market by End User
6.4.1 Market Overview
6.4.2 Hospitals
6.4.3 Diagnostic Imaging Centre
6.4.4 Others
6.5 Global Magnetic Resonance Imaging (MRI) Coils Market by Distribution Channel
6.5.1 Market Overview
6.5.2 Direct Tenders
6.5.3 Retail Sales
6.6 Global Magnetic Resonance Imaging (MRI) Coils Market by Region
6.6.1 Market Overview
6.6.2 North America
6.6.3 Europe
6.6.4 Asia Pacific
6.6.5 Latin America
6.6.6 Middle East and Africa
7 North America Magnetic Resonance Imaging (MRI) Coils Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Magnetic Resonance Imaging (MRI) Coils Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Magnetic Resonance Imaging (MRI) Coils Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Magnetic Resonance Imaging (MRI) Coils Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Magnetic Resonance Imaging (MRI) Coils Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding & Investment Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Supplier Landscape
16.1 General Electric
16.1.1 Financial Analysis
16.1.2 Product Portfolio
16.1.3 Demographic Reach and Achievements
16.1.4 Mergers and Acquisition
16.1.5 Certifications
16.2 Koninklijke Philips N.V.
16.2.1 Financial Analysis
16.2.2 Product Portfolio
16.2.3 Demographic Reach and Achievements
16.2.4 Mergers and Acquisition
16.2.5 Certifications
16.3 Siemens Healthcare GmbH
16.3.1 Financial Analysis
16.3.2 Product Portfolio
16.3.3 Demographic Reach and Achievements
16.3.4 Mergers and Acquisition
16.3.5 Certifications
16.4 AURORA HEALTHCARE US CORP
16.4.1 Financial Analysis
16.4.2 Product Portfolio
16.4.3 Demographic Reach and Achievements
16.4.4 Mergers and Acquisition
16.4.5 Certifications
16.5 NORAS MRI products
16.5.1 Financial Analysis
16.5.2 Product Portfolio
16.5.3 Demographic Reach and Achievements
16.5.4 Mergers and Acquisition
16.5.5 Certifications
16.6 ESAOTE SPA
16.6.1 Financial Analysis
16.6.2 Product Portfolio
16.6.3 Demographic Reach and Achievements
16.6.4 Mergers and Acquisition
16.6.5 Certifications
16.7 Hitachi, Ltd.
16.7.1 Financial Analysis
16.7.2 Product Portfolio
16.7.3 Demographic Reach and Achievements
16.7.4 Mergers and Acquisition
16.7.5 Certifications
16.8 Bruker
16.8.1 Financial Analysis
16.8.2 Product Portfolio
16.8.3 Demographic Reach and Achievements
16.8.4 Mergers and Acquisition
16.8.5 Certifications
16.9 IMRIS
16.9.1 Financial Analysis
16.9.2 Product Portfolio
16.9.3 Demographic Reach and Achievements
16.9.4 Mergers and Acquisition
16.9.5 Certifications
16.10 Monteris
16.10.1 Financial Analysis
16.10.2 Product Portfolio
16.10.3 Demographic Reach and Achievements
16.10.4 Mergers and Acquisition
16.10.5 Certifications
16.11 Nael Medical - Part of NBHH Group
16.11.1 Financial Analysis
16.11.2 Product Portfolio
16.11.3 Demographic Reach and Achievements
16.11.4 Mergers and Acquisition
16.11.5 Certifications
16.12 MEDSPIRA
16.12.1 Financial Analysis
16.12.2 Product Portfolio
16.12.3 Demographic Reach and Achievements
16.12.4 Mergers and Acquisition
16.12.5 Certifications
16.13 CANON MEDICAL SYSTEMS USA, INC.
16.13.1 Financial Analysis
16.13.2 Product Portfolio
16.13.3 Demographic Reach and Achievements
16.13.4 Mergers and Acquisition
16.13.5 Certifications
16.13.6 Certifications
17 Global Magnetic Resonance Imaging (MRI) Coils Market - Distribution Model (Additional Insight)
17.1 Overview
17.2 Potential Distributors
17.3 Key Parameters for Distribution Partner Assessment
18 Key Opinion Leaders (KOL) Insights (Additional Insight)
19 Company Competitiveness Analysis (Additional Insight)
19.1 Very Small Companies
19.2 Small Companies
19.3 Mid-Sized Companies
19.4 Large Companies
19.5 Very Large Companies
20 Payment Methods (Additional Insight)
20.1 Government Funded
20.2 Private Insurance
20.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 9.1 billion in 2023, driven by the increased demand for quality diagnostic services to provide early detection of chronic diseases.
The market is anticipated to grow at a CAGR of 8.1% during the forecast period of 2024-2032, likely to reach a market value of USD 18.4 billion by 2032.
The market demand has surged with the increased prevalence of neuroimaging, cardiovascular imaging, angiographies, and cancer diagnostics.
The Asia Pacific region is expected to witness rapid growth in the market with an influx of foreign investments. For instance, Philips made an INR 400 crore investment under the PLI government scheme to manufacture radio-frequency magnetic coils in India.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.
Common application of these coils include neuroimaging, cardiovascular, musculoskeletal, gastrointestinal, pediatric, and breast, among others.
The market is divided into phased-array and quadrature.
Volume coils, gradient coils, radiofrequency coils, and surface, among others are some common types of magnetic resonance coils.
Key end users include hospitals and diagnostic imaging centres, among others.
Major distribution channels include direct tenders and retail sales.
Key players involved in the market are Koninklijke Philips N.V., Siemens Healthcare GmbH, AURORA HEALTHCARE US CORP, NORAS MRI products, ESAOTE SPA, Hitachi, Ltd., Bruker, IMRIS, Monteris, Nael Medical - Part of NBHH Group, MEDSPIRA, CANON MEDICAL SYSTEMS USA, INC., and General Electric.
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