South Korea Magnetic Resonance Imaging Coils Market Size & Outlook
South Korea magnetic resonance imaging coils market, 2018-2030 (US$M)
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South Korea magnetic resonance imaging coils market highlights
- The South Korea magnetic resonance imaging coils market generated a revenue of USD 162.4 million in 2023 and is expected to reach USD 306.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.5% 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 162.4 million |
| Market revenue in 2030 | USD 306.0 million |
| Growth rate | 9.5% (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, South Korea 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 Asia Pacific, China magnetic resonance imaging coils market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 549.3 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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South Korea 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 59.91% in 2023. Horizon Databook has segmented the South Korea magnetic resonance imaging coils market based on radiofrequency coil, gradient coil covering the revenue growth of each sub-segment from 2018 to 2030.
The number of South Koreans suffering from sudden cardiac arrest is expected to boost the country’s MRI coils market. As per OECD, 34.2 MRI units were installed per million population in 2020. According to PLOS, a nonprofit organization, the incidence of cardiac arrest in South Korea was calculated to be around 48.7 per 100,000 inhabitants.
Coronary Artery Disease (CAD), was the most common cause of sudden cardiac arrest at approximately 59.4%, which was followed by cardiomyopathy at 13.9%. Moreover, rising obesity rate in South Korea is further predicted to boost the number of people suffering from cardiac disorders.
Class III obesity increased among the population around 3.5 to 3.8 fold during 2008–2018. Thus, this can be accredited to rising cardiac-related disorders and increasing use of MRIs. Adding to that, healthcare spending in this country is high.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea magnetic resonance imaging coils market , including forecasts for subscribers. This country databook contains high-level insights into South Korea magnetic resonance imaging coils market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea magnetic resonance imaging coils market size, by type, 2018-2030 (US$M)
South Korea Magnetic Resonance Imaging Coils Market Outlook Share, 2023 & 2030 (US$M)
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