Saudi Arabia Magnetic Resonance Imaging Coils Market Size & Outlook
Saudi Arabia magnetic resonance imaging coils market, 2018-2030 (US$M)
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Saudi Arabia magnetic resonance imaging coils market highlights
- The Saudi Arabia magnetic resonance imaging coils market generated a revenue of USD 157.5 million in 2023 and is expected to reach USD 282.2 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 8.7% from 2024 to 2030.
- In terms of segment, radiofrequency coil was the largest revenue generating type in 2023.
- Radiofrequency Coil is the most lucrative type segment registering the fastest growth during the forecast period.
Magnetic resonance imaging coils market data book summary
| Market revenue in 2023 | USD 157.5 million |
| Market revenue in 2030 | USD 282.2 million |
| Growth rate | 8.7% (CAGR from 2023 to 2030) |
| Largest segment | Radiofrequency coil |
| Fastest growing segment | Radiofrequency Coil |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Radiofrequency Coil, Gradient Coil |
| Key market players worldwide | GE HealthCare Technologies Inc Common Stock, Koninklijke Philips NV, Siemens Healthineers AG ADR, Canon Inc, Esaote, Bruker Corp |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 1.8% of the global magnetic resonance imaging coils market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa magnetic resonance imaging coils market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 282.2 million by 2030.
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Magnetic Resonance Imaging Coils Market Scope
Magnetic Resonance Imaging Coils Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia magnetic resonance imaging coils market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to magnetic resonance imaging coils market will help companies and investors design strategic landscapes.
Radiofrequency coil was the largest segment with a revenue share of 59.94% in 2023. Horizon Databook has segmented the Saudi Arabia magnetic resonance imaging coils market based on radiofrequency coil, gradient coil covering the revenue growth of each sub-segment from 2018 to 2030.
Over the forecast period, the Saudi Arabian MRI coils market is expected to rise significantly. The country’s healthcare system is surpassing that of other MEA countries owing to continued efforts by the government and private sector. Furthermore, economic growth and urbanization are expected to enhance disposable income, resulting in profitable growth potential.
In August 2022, private healthcare provider Burjeel Holdings signed an initial agreement with the Saudi Ministry of Investment. By 2030, the company is expected to invest up to USD 1 billion. With the help of this agreement, Burjeel Holdings can look for investment opportunities through joint ventures and public-private partnership models to set up and grow a variety of healthcare services in Saudi Arabia.
Changing lifestyles in Saudi Arabia and growing incidence of conditions, such as obesity, blood pressure-related diseases, and diabetes, increase the burden of chronic diseases. According to WHO, cardiovascular diseases are the leading cause of death in the country. Thus, high prevalence of cardiovascular diseases is anticipated to boost the MRI coils market.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia magnetic resonance imaging coils market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia magnetic resonance imaging coils market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia magnetic resonance imaging coils market size, by type, 2018-2030 (US$M)
Saudi Arabia Magnetic Resonance Imaging Coils Market Outlook Share, 2023 & 2030 (US$M)
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