The North America Magnetic Resonance Imaging Coils Market would witness market growth of 7% CAGR during the forecast period (2021-2027). With the growing demand for magnetic resonance imaging machines, several key players in the market are making more advanced & higher field strength (7T) magnetic resonance imaging machines.
The rising development in the MRI machines is opening several growth avenues for many players making to make coils, which support the high field strength machines. Nowadays, magnetic resonance imaging coils for high field strength machine is accessible for head and knee application, although, many research institutes are doing research to know about the efficacy of the machines in other applications. Apart from this, one of the major barriers to the market growth is the high cost attached to MRI coils.
With the increasing prevalence of chronic diseases like cancer, the demand for MRI coils is increasing. It is because the treatment and diagnosis of several chronic diseases require continuous monitoring of the patients through MRI scans, which further fuels the demand for magnetic resonance imaging coils in the market. There are various types of chronic diseases like neurological, cardiovascular, cancer, and urological diseases. In the U.S., almost half of the adult population is suffering from chronic diseases and a significant share of the healthcare expenditure is allotted for controlling the cases of the chronic diseases. Most of the patients with chronic diseases like cancer need to keep track of their condition and thus require regular MRI scan, and further surge the demand for MRI coils in the market.
The USA market dominated the North America Breast Market by Country in 2020, thereby, achieving a market value of $446.3 Million by 2027. The Canada market is experiencing a CAGR of 8% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 10.1% during (2021 - 2027).
Based on Application, the market is segmented into Cardiovascular, Spine and Musculoskeletal, Neurology, Breast, Pediatric, Abdominal and Others. Based on Type, the market is segmented into Radiofrequency Coil and Gradient Coil. Based on End-Use, the market is segmented into Hospitals, Diagnostic Imaging Centers, Ambulatory Care Centers and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Magnetic Resonance Imaging Coils Market is Estimated to Reach USD 13.3 Billion by 2027 at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., Siemens AG, Canon, Inc. (Canon Medical Systems Corporation), Hologic, Inc., Bruker Corporation, Esaote SpA, MR Instruments, Inc., RAPID MR International, LLC, and ScanMed, LLC.
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