The increasing reliance on medicine in human lives has created an unprecedented situation for modern technology to pursue innovative advancements in healthcare equipment. Magnetic Resonance Imaging (MRI) is a technique that utilizes magnetic or radio waves to generate clear images of body parts, aiding medical professionals in diagnosis. It can effectively detect various chronic diseases such as stroke, tumors, multiple sclerosis, as well as injuries, providing a comprehensive examination of joints, muscles, cartilage, and tendons. The MRI magnet shimming coil, which refers to a wire-bound component within the MRI machine, plays a crucial role in generating magnetic waves homogeneously, thereby reducing image distortion. In 2019, the global market for MRI magnet shimming coils exhibited substantial growth, and it is anticipated to expand significantly with a rapid increase in revenue by 2028, according to market forecasts. The analysis of the industry suggests a substantial surge in demand for efficient products, driven by changing market trends, consumption patterns, and the increasing adoption of such products in the healthcare sector. These factors are expected to support both industry and market growth throughout the forecast period.
The COVID-19 pandemic and the subsequent rise in infected patients have profoundly impacted the normal operations of hospitals and the manufacturing industry, consequently affecting the MRI magnet shimming coil market. Many hospitals have converted their facilities to emergency centers for COVID-19 patients, resulting in a decline in the availability of medical supplies and disruptions in supply chains. Several private firms have experienced financial weaknesses and have relied on past savings. However, as quarantine regulations are lifted and the demand for intensive care units remains high, new opportunities for market growth are expected to arise.
Top 10 Companies Operating in the Global MRI Magnet Shimming Coil Market:
- GE
- Philips Healthcare
- Metrolab
- Canon Medical Systems
- Siemens
- Dexter Magnetics
- Magritek
- Hitachi Medical Systems
- Esaote
- SciMedix
- Paramed
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The global market is further segmented into type and application:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Permanent Magnet
- Superconductive Magnet
Application Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Research Institution
- Diagnostic Imaging Centres
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Online stores
- Specialty Stores
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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