The global magnetic resonance imaging coils market size is expected to reach USD 13.7 billion by 2028, according to a new report by Grand View Research, Inc. 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.
Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/magnetic-resonance-imaging-coil-market
Magnetic Resonance Imaging Coils Market Report Highlights
For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/magnetic-resonance-imaging-coil-market/request/rs1
Magnetic Resonance Imaging Coils Market Segmentation
Grand View Research has segmented the global magnetic resonance imaging coils market based on type, application, end-use, and region:
MRI Coil Type Outlook (Revenue, USD Million, 2016 – 2028)
MRI Coil Application Outlook (Revenue, USD Million, 2016 – 2028)
MRI Coil End-use Outlook (Revenue, USD Million, 2016 – 2028)
MRI Coil Regional Outlook (Revenue, USD Million, 2016 – 2028)
List of Key Players of Magnetic Resonance Imaging (MRI) Coils Market
Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/451351/ibb
Browse More Related Report:
Surgical Imaging Market Size, Share & Trends Analysis Report By Device (Angiography, C-arms), By Modality (X-ray, MRI), By Application (Cardiovascular, Orthopedic & Trauma), And Segment Forecasts, 2019 – 2026
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1888202951Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United StatesCity: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/magnetic-resonance-imaging-coil-market