MRI Coils Market Trends

Growth Drivers

• Rise in Prevalence of Chronic and Non-communicable diseases (NCDs) such as Diabetes - A growing aging population and unhealthy lifestyles have contributed to NCD epidemics like diabetes, resulting in a greater need for MRI scans worldwide. International Diabetes Federation estimates that 537 million adults worldwide suffer from diabetes, and by 2030 the number will rise to 643 million and 783 million respectively. MRI scans can provide detailed images of the pancreas and other organs, which can help to identify any abnormalities that may indicate diabetes.

• Regulatory Approval of Technologically Advanced MRI Imaging Systems - The U.S. Food & Drug Administration approved Siemens Healthineers' 0.55T MAGENTOM Free.Max 80 cm MR scanner in July 2021. An MRI with a field strength of .55T is known as a High-V MRI. These systems make use of digitalization to achieve a new field strength of .55T, resulting in inherent clinical benefits. Regulatory approval of these systems allows manufacturers to manufacture and market high-end MRI coils, thereby driving demand.
• Emergence of AI in Medical Devices - The accuracy and speed of MRI scans are being improved with AI-based technologies. Traditional MRI scans are not as accurate and quick as AI-enhanced MRIs. The increased accuracy and speed of MRI scans have led to an increase in demand for MRI coils, which are used to detect and process MRI signals.

Challenges

• Short lifespan of MRI coils - MRI coils have a limited lifespan due to the wear and tear of the components. As a result, hospitals and other healthcare facilities are required to replace the coils regularly, resulting in high maintenance costs.

• Lack of signal intensity variation across the image can result in artifacts in the image, as can a limited field of view.
• Lack of skilled personnel