U.S. Magnetic Resonance Imaging Coils Market Size & Outlook
U.S. magnetic resonance imaging coils market, 2018-2030 (US$M)
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U.S. magnetic resonance imaging coils market highlights
- The U.S. magnetic resonance imaging coils market generated a revenue of USD 2,035.9 million in 2023 and is expected to reach USD 3,683.5 million by 2030.
- The U.S. market is expected to grow at a CAGR of 8.8% 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 2,035.9 million |
| Market revenue in 2030 | USD 3,683.5 million |
| Growth rate | 8.8% (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, U.S. accounted for 23.1% 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 North America, U.S. magnetic resonance imaging coils market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 3,683.5 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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U.S. 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 59.93% in 2023. Horizon Databook has segmented the U.S. magnetic resonance imaging coils market based on radiofrequency coil, gradient coil covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. held the largest market share of 81.10% in 2021. The market is majorly driven by a rise in the prevalence of chronic diseases, such as neurological, cardiovascular, and cancer. The burden of cardiovascular disorders in the U.S. is increasing considerably. For instance, in 2020, CDC stated that each year, around 805,000 people in the U.S. suffer from a heart attack. MRI scans are preferred for the evaluation of congenital heart diseases.
Moreover, according to OECD, the number of MRI units installed in the U.S. was 38.0 per million inhabitants in 2021 and around 30 million MRI scans are performed every year by medical professionals. In addition, the U.S. has the largest annual per capita healthcare spending globally, for instance., healthcare spending in 2018 was estimated to be USD 11,172 on average.
The federal government is also proactively initiating schemes and policies to make healthcare affordable and accessible to everyone. These initiatives include Medicare and Medicaid innovations, changes to the Affordable Care Act in 2020, and cost control initiatives to address high healthcare prices. This leads to a preference for early disease diagnosis, which is expected to boost the market for MRI coils over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. magnetic resonance imaging coils market , including forecasts for subscribers. This country databook contains high-level insights into U.S. magnetic resonance imaging coils market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. magnetic resonance imaging coils market size, by type, 2018-2030 (US$M)
U.S. Magnetic Resonance Imaging Coils Market Outlook Share, 2023 & 2030 (US$M)
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