The global MRI coils market is expected to reach USD 1.06 billion by 2031, growing at a CAGR of 7.3%, according to a recent report by Business News Today. The report highlights the key factors driving the market growth, such as the increasing prevalence of chronic diseases, the rising adoption of MRI systems, and the technological advancements in MRI coils.
MRI Coils: An Essential Component of MRI Systems
MRI coils are devices that transmit and receive radiofrequency signals to and from the MRI scanner. They are designed to fit the specific body part or organ that is being scanned, such as the head, spine, breast, or knee. MRI coils play a vital role in enhancing the image quality and reducing the scan time of MRI systems.
MRI coils can be classified into two types: volume coils and surface coils. Volume coils are large coils that cover a large area of the body, such as the whole body or the head. Surface coils are smaller coils that are placed close to the target area, such as the breast or the knee. Surface coils offer higher resolution and sensitivity than volume coils, but they have a smaller field of view.
MRI coils can also be categorized into single-channel and multi-channel coils. Single-channel coils have one transmitter and one receiver, while multi-channel coils have multiple transmitters and receivers that work independently. Multi-channel coils offer better signal-to-noise ratio and parallel imaging capabilities than single-channel coils, but they are more expensive and complex.
MRI Coils Market: Growth Drivers and Opportunities
The global MRI coils market is witnessing a significant growth due to the increasing demand for medical imaging, especially for the diagnosis and treatment of chronic diseases such as cancer, cardiovascular diseases, neurological disorders, and musculoskeletal conditions. According to the World Health Organization, chronic diseases are responsible for 71% of the global deaths, and they are expected to increase by 57% by 2030. MRI systems are widely used to detect and monitor these diseases, as they offer high-resolution and non-invasive imaging of the internal organs and tissues.
The rising adoption of MRI systems is also fueling the growth of the MRI coils market, as MRI coils are essential components of MRI systems. According to the report, the global MRI systems market was valued at USD 7.2 billion in 2022, and is projected to reach USD 11.4 billion by 2031, growing at a CAGR of 5.2%. The increasing availability and affordability of MRI systems, especially in emerging markets such as China, India, Brazil, and South Africa, are driving the market growth. Moreover, the growing preference for MRI systems over other imaging modalities, such as computed tomography (CT) and X-ray, due to their superior image quality and safety, is also boosting the market growth.
The technological advancements in MRI coils are also creating new opportunities for the MRI coils market, as they enhance the performance and functionality of MRI systems. For instance, the development of ultra-high-field MRI coils, such as 7 Tesla and 9.4 Tesla coils, enables higher resolution and faster imaging of the brain and other organs.
The innovation of flexible and wireless MRI coils, such as the Air Coil by GE Healthcare and the NueroFlex Coil by Siemens Healthineers, improves the patient comfort and compliance, as well as the coil positioning and coverage. The emergence of artificial intelligence and machine learning in MRI coils, such as the AIRx by GE Healthcare and the Turbo Suite by Siemens Healthineers, optimizes the image quality and reduces the scan time and artifacts.
MRI Coils Market: Competitive Landscape and Regional Analysis
The global MRI coils market is highly competitive and fragmented, with the presence of several players, both large and small. Some of the key players in the market are GE Healthcare, Siemens Healthineers, Philips Healthcare, Hitachi Medical Systems, Canon Medical Systems, Esaote, Bruker, MR Instruments, RAPID MR International, and ScanMed.
The report also provides a regional analysis of the MRI coils market, covering North America, Europe, Asia-Pacific, and LAMEA. North America is the largest market for MRI coils, owing to the high prevalence of chronic diseases, the large installed base of MRI systems, and the high adoption of advanced MRI coils in the region.
Europe is the second-largest market for MRI coils, due to the increasing healthcare expenditure, the growing aging population, and the rising awareness about MRI systems in the region. Asia-Pacific is the fastest-growing market for MRI coils, owing to the improving healthcare infrastructure, the increasing disposable income, and the growing demand for medical imaging in the region. LAMEA is the smallest market for MRI coils, due to the low penetration of MRI systems, the lack of skilled professionals, and the high cost of MRI coils in the region.
