Phased Array Coil Market size was valued at USD 1.2 Billion in 2024 and is forecasted to grow at a CAGR of 9.1% from 2026 to 2033, reaching USD 2.5 Billion by 2033.
The global Phased Array Coil Market was valued at approximately USD 210.4 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.7% during the forecast period. This growth is primarily driven by the increasing demand for advanced diagnostic imaging technologies, particularly in the fields of neurology, oncology, and musculoskeletal imaging. North America held the largest market share in 2022, accounting for over 38% of the global revenue, due to the presence of advanced healthcare infrastructure, growing adoption of MRI systems, and rising healthcare expenditure. Europe followed with a significant market share of nearly 28%, supported by strong public healthcare systems and ongoing research in medical imaging technologies. The Asia Pacific region is anticipated to witness the fastest CAGR over the forecast period, led by rising investments in healthcare infrastructure, growing awareness about early disease diagnosis, and increasing patient population.
Opportunities within the Phased Array Coil Market are expanding, particularly in emerging economies where demand for high resolution imaging and advanced medical diagnostics is rising. Countries such as China, India, and Brazil are investing in modernizing healthcare systems, creating avenues for increased adoption of MRI systems equipped with phased array coils. Technological advancements, such as lightweight coil design, enhanced signal to noise ratio, and multi channel configurations, are further fueling innovation and differentiation within the market. Additionally, the shift toward minimally invasive diagnostic procedures and the growing importance of precision medicine are expected to create strong demand for high performance imaging solutions. Collaborations among healthcare institutions and research bodies in developing regions also offer potential for wider deployment of phased array coil technology across various clinical applications.
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Block Imaging
Siemens
LBN Medical
GE
Philips
Esaote
Aurora Healthcare
Noras MRI
NeoCoil
Shanghai Kangda Medical Instrument
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Phased Array Coil Market
Medical Imaging
Non-Destructive Testing (NDT)
Aerospace & Defense
Automotive Industry
Research and Development
Healthcare Providers
Industrial Sector
Government and Defense
Aerospace & Aviation
Automotive Manufacturers
Single-Element Coils
Multi-Element Coils
High-Resolution Coils
Low-Field MRI Coils
Linear Coils
Phased Array Coils
Volume Coils
Spiral Coils
Low Frequency Coils
High Frequency Coils
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Phased Array Coil Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Phased Array Coil Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Phased Array Coil Market, By Type
6. Global Phased Array Coil Market, By Application
7. Global Phased Array Coil Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Phased Array Coil Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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