Global MRI Coils Market
About this market
Technavio’s MRI coils market analysis considers sales from both adult and pediatric types. Our analysis also considers the sales of MRI coils in Asia, Europe, North America, and ROW. In 2018, the adult segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing health issues in adults and the increasing demand for both rigid and flexible forms of MRI coils will play a significant role in the adult segment to maintain its market position. Also, our global MRI coils market report looks at factors such as the growing aging population and chronic disease incidences, rising demand for non -invasive diagnostic procedures, and growing number of MRI procedures. However, high cost of MRI coils, stringent regulations, and product recalls, and intensified competition and pricing pressure among key players may hamper the growth of the MRI coils industry over the forecast period.
Global MRI Coils Market
Rising demand for non-invasive diagnostic procedures
End-users, including clinics, hospitals, and diagnostic centers in the developed and emerging economies prefer non-invasive tests for accurate diagnosis of chronic diseases at initial stages with minimal incisions. Manufacturers and researchers are increasingly focusing on developing a pocket-sized, wearable, handheld, and next-generation non-invasive diagnostic device with improved features such as machine learning analytics. This demand for non-invasive diagnostic procedures will lead to the expansion of the global MRI coils market at a CAGR of almost 2% during the forecast period.
Growing preference for multi-channel and multi-purpose MRI coils
Multi-channel and multi-purpose MRI coils are medical devices that are used for imaging various anatomical regions simultaneously with advantages such as enhanced SNR offering a high-image resolution, greater flexibility, and patient comfort. Multi-channel and multi-purpose coils can accommodate large- or small-sized anatomical parts of the body such as heart and are compatible even
with the older MRI scanner models. There is a growing importance of using multi-channel and multi-purpose MRI coils in countries such as the US, Germany, and Japan. To cater to the growing demand, vendors are focusing on developing devices with advanced features and M&A strategies. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global MRI coils market during the forecast period 2019-2023, click here.
With the presence of several major players, the global MRI coils market is moderately concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading MRI coils manufacturers, that include DxTx Medical, Esaote Spa, General Electric Co., Hitachi Ltd., IMRIS, Koninklijke Philips NV, NORAS MRI products GmbH, RAPID MR International LLC, Siemens AG, and Toshiba Corp.
Also, the MRI coils market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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