SecureTech Announces Major Milestones in Strategic Growth Plan
Roseville, Minnesota, May 20, 2025 (GLOBE NEWSWIRE) -- SecureTech Innovations, Inc. (OTC: SCTH), an emerging leader in cybersecurity, Web3 solutions, and advanced security technologies, is pleased to share a comprehensive update on its strategic initiatives for 2025. Since joining the SecureTech team in January, President and CEO J. Scott Sitra has focused on advancing the key priorities outlined in SecureTech's roadmap for innovation and growth. Each achieved strategic milestone increases underlying shareholder value, enhances operational efficiencies, and positions the company for long-term growth and success.
2025 Strategic Milestones and Corporate Developments Achieved:
Share Structure Optimization: As part of its capital markets strategy, SecureTech completed a significant share consolidation that reduced its issued and outstanding shares by 55%, from 78 million to nearly 35 million. The company continues pursuing further reductions to reach its target share count of about 17 million by the end of Q3 2025. This initiative underscores SecureTech's commitment to enhancing per-share value, strengthening market confidence, and advancing it towards a national market uplisting.
Launched Mergers & Acquisitions Program: SecureTech recently signed a Memorandum of Understanding (MOU) to acquire a rapidly growing international technology enterprise with FY2024 revenue of nearly $3 million and projections of $10 million for FY2025. A PCAOB auditing firm is conducting the required two-year SEC-mandated audit, with closing anticipated in June 2025. This acquisition aligns with SecureTech's strategy to broaden its global presence as an innovative technology leader. SecureTech is also evaluating additional M&A opportunities targeting businesses with cutting-edge technologies and annual revenues between $5 million and $10 million, with the goal of quickly strengthening the company's financial position and boosting long-term growth prospects.
Capital Formation and National Exchange Uplisting Preparation: SecureTech is engaged in advanced discussions with multiple investment banks and institutional investors to secure growth capital aimed at expanding operations, strengthening its balance sheet, and supporting a planned application for uplisting to the NASDAQ or NYSE later this year. These efforts reflect the company's commitment to improving liquidity, increasing institutional visibility, and building overall shareholder value.
Business Unit Expansion and Spin-Off Strategy: SecureTech has established two new wholly owned subsidiaries, Terra Nova Technologies, Inc. and Top Kontrol, LLC, both incorporated in Wyoming. The company is revitalizing its flagship anti-carjacking and automotive security product, Top Kontrol®, under Terra Nova Technologies. SecureTech plans to spin-off Terra Nova Technologies as a standalone entity on the OTCQB Market, allowing it to pursue independent growth while advancing SecureTech's broader strategic objectives and delivering additional value to its shareholders.
Blockchain Expansion and Digital Asset Strategy: Through its Piranha Blockchain subsidiaries and its strategic partnership with RockerFunder, LLC, SecureTech is advancing plans to establish a Bitcoin (BTC) treasury reserve as part of its broader digital asset acquisition and Web3 innovation strategy. This initiative reflects the company's focus on enhancing blockchain infrastructure, decentralized security, and digital wealth creation and management, while it continues to evaluate acquisition and investment opportunities in the blockchain and fintech sectors.
SecureTech will continue providing timely updates on these initiatives through official press releases and regulatory filings.
'We are executing our 2025 roadmap with precision and determination,' stated J. Scott Sitra, President and CEO of SecureTech. 'Our proactive approach to corporate restructuring, capital acquisition, and strategic growth through mergers and acquisitions reflects our commitment to innovation, creating shareholder value, and maintaining full corporate transparency. We look forward to providing additional updates to our shareholders and the investment community as we continue to hit and exceed key milestones.'
About SecureTech Innovations
SecureTech Innovations, Inc. (OTC: SCTH) is an innovative technology company focused on developing and commercializing advanced security, safety, and digital infrastructure solutions. SecureTech is the developer of Top Kontrol®, the only patented anti-theft and anti-carjacking system that can safely stop a carjacking without any action from the driver. Through its Piranha Blockchain subsidiary, SecureTech is advancing cutting-edge cybersecurity and Web3 technologies, next generation blockchain architecture, and digital asset management systems.
For further information, visit our websites: securetechinnovations.com, topkontrol.com, and piranhablockchain.com
This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements refer to future events, expectations, plans, and prospects. SecureTech Innovations, Inc. ('SecureTech') believes the expectations reflected in these forward-looking statements are reasonable as of the date they are made. However, actual results may differ materially from those expressed or implied by these forward-looking statements. SecureTech identifies forward-looking statements with words like 'believes,' 'estimates,' 'anticipates,' 'expects,' 'plans,' 'projects,' 'intends,' 'potential,' 'may,' 'could,' 'might,' 'will,' 'should,' 'approximately,' and similar expressions that convey uncertainty about future events or outcomes. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including market conditions and other circumstances. More detailed information about SecureTech and the risks that may affect these forward-looking statements can be found in SecureTech's filings with the Securities and Exchange Commission ('SEC'), including the risks contained in the section of our Annual Report filed on Form 10-K entitled 'Risk Factors.' These filings are available on the SEC's website at www.sec.gov.
Forward-looking statements in this press release speak only as of the date they are made. SecureTech has no obligation to update any forward-looking statements to reflect new events or circumstances after the date of this press release, except as required by law.
Investor Relations
+1 (651) 317-8990ir@securetechinnovations.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
16 minutes ago
- Yahoo
Nigeria Prepaid Card and Digital Wallet Market Intelligence Report 2025-2029: Growing Shift to Digital Payments, Increasing E-Commerce Activity, and Rising Corporate Adoption
The prepaid card and digital wallet market in Nigeria is projected to grow 17% annually, reaching $15.2 billion by 2025. Key drivers include increased digital payment adoption, e-commerce growth, and improved digital infrastructure. This fuels robust growth in prepaid cards, crucial for Nigeria's cashless economy revolution. Nigerian Prepaid Card and Digital Wallet Market Dublin, June 09, 2025 (GLOBE NEWSWIRE) -- The "Nigeria Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook - Q2 2025 Update" report has been added to prepaid card and digital wallet market in Nigeria is expected to grow by 17.0% on annual basis to reach US$ 15.20 billion in 2025. The prepaid card and digital wallet market in the country has experienced robust growth during 2020-2024, achieving a CAGR of 20.6%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 13.9% during 2025-2029. By the end of 2029, the prepaid card and digital wallet market is projected to expand from its 2024 value of US$ 12.99 billion to approximately US$ 25.62 billion. Nigeria's prepaid card market is on a strong growth path, fueled by the shift to digital payments, increasing e-commerce activity, and rising corporate adoption. These trends will continue, leading to broader prepaid card usage across consumer and business segments. Over the next few years, financial institutions and fintech companies will focus on enhancing prepaid card offerings to meet evolving consumer and corporate needs. As digital infrastructure and regulatory frameworks improve, the prepaid card market will play a crucial role in Nigeria's cashless economy. The Nigerian prepaid card market features a mix of traditional financial institutions and emerging fintech companies. Major banks like Zenith Bank, GTBank, Access Bank, First Bank of Nigeria, and Ecobank offer various prepaid card solutions to their customers. Continued Expansion of the Prepaid Card Market The primary factors driving this expansion include the rising adoption of digital payments and the rapid growth of e-commerce. As consumers move away from cash-based transactions, prepaid cards have become a widely accepted alternative, offering security and convenience for in-person and online payments. The increase in online shopping has also amplified the need for reliable, accessible, and flexible payment methods, further boosting prepaid card usage. Over the next 2-4 years, prepaid card adoption is expected to accelerate as Nigeria's financial infrastructure continues to improve. Enhanced consumer confidence in electronic payments, alongside innovations from financial institutions and fintech companies, will further drive market penetration. This trend will likely result in an increasingly digital economy, with prepaid cards becoming essential for personal and business transactions. Increasing Integration of Prepaid Cards with Digital Wallets Integrating prepaid cards with digital wallets is becoming more prevalent in Nigeria, providing users seamless access to digital financial services. By linking prepaid cards with mobile applications, consumers can efficiently manage funds, make transactions, and track spending without relying on physical cards. This development is making financial services more accessible, particularly for unbanked and underbanked populations who are increasingly adopting digital payment solutions. Key factors driving this trend include advancements in mobile payment technology and the growing demand for convenient financial management. The continuous improvement of digital banking infrastructure has made linking prepaid cards with digital wallets easier, allowing users to conduct transactions effortlessly. Additionally, Nigerian consumers are increasingly gravitating toward platforms that enable them to manage various financial services through a single interface, reducing the need for multiple payment methods. Over the next 2-4 years, the adoption of prepaid cards integrated with digital wallets will accelerate as financial institutions and fintech companies introduce more user-friendly solutions. Enhanced security features, expanded merchant acceptance, and greater interoperability between prepaid cards and digital wallets will encourage adoption. As a result, this trend will contribute to the broader digitalization of Nigeria's financial sector, promoting financial inclusion and increasing the efficiency of cashless transactions. Growing Corporate Use of Prepaid Cards for Expense Management Nigerian businesses increasingly incorporate prepaid cards into their financial operations to streamline corporate expense management. These cards are used for employee benefits, travel allowances, and corporate gifting, replacing traditional cash-based disbursement methods. This shift is part of a broader effort to enhance financial oversight and operational efficiency in managing business expenses. The key drivers behind this trend include the need for improved operational efficiency and enhanced expense control. Prepaid cards reduce the administrative workload associated with cash handling and manual reimbursements, allowing businesses to allocate resources more effectively. Additionally, real-time transaction monitoring and customizable spending limits enable companies to maintain greater financial transparency and improve cost management. Over the next 2-4 years, corporate adoption of prepaid cards is expected to grow as businesses seek more structured and secure financial solutions. Developing industry-specific prepaid card solutions tailored to corporate needs will further drive adoption. As financial service providers introduce innovative offerings, prepaid cards will become essential for businesses looking to improve financial accountability and streamline expense management processes. Current Market Dynamics Nigeria's prepaid card market is experiencing significant growth, driven by a shift towards digital payments and financial inclusion initiatives. The market encompasses various products, including gift cards, payroll cards, and travel cards, catering to retail consumers and corporate clients. Despite the country's cash-dominant economy, there is a noticeable increase in the adoption of prepaid cards as a convenient and secure payment method. The Central Bank of Nigeria (CBN) has promoted cashless transactions, positively impacting the prepaid card segment. Initiatives such as the Payments System Vision 2025 aim to enhance the country's payment infrastructure, encouraging electronic payment methods, including prepaid cards. Recent Launches and Partnerships The Nigerian prepaid card sector has witnessed strategic collaborations to enhance service offerings and expand market reach. For instance, in October 2024, Nigerian fintech company Moniepoint secured $110 million in funding from investors, including Google, to expand its digital payment and banking solutions across Africa. This investment underscores the growing interest in Nigeria's fintech landscape and the potential for prepaid card integration within broader financial services. Anticipated Market Evolution (Next 2-4 Years) The competitive intensity in Nigeria's prepaid card market is anticipated to increase as traditional banks and fintech companies expand their offerings. Technological advancements and evolving consumer preferences for seamless digital payment solutions are expected to drive innovation among market participants. Furthermore, regulatory frameworks will continue to play a crucial role in shaping the market dynamics. Compliance with evolving guidelines will be essential for market players to maintain their positions and capitalize on growth opportunities in the prepaid card sector. Regulatory Changes In May 2024, the Central Bank of Nigeria released revised guidelines for Bureau De Change (BDC) operations, impacting the prepaid card market. The guidelines mandate that payments for digital or transfer purchases of foreign currency by a BDC be made by transfer to the customer's Naira account. If the customer is a non-resident, a BDC may issue a prepaid Naira card with relevant maximum credit and cumulative limits in line with Know Your Customer (KYC) requirements. These regulatory adjustments aim to enhance transparency and compliance within the foreign exchange market, indirectly influencing the prepaid card sector by promoting prepaid Naira cards among non-residents and ensuring adherence to KYC protocols. Prepaid Card Market Analysis Metrics Assessed: The study examines the prepaid card market through various lenses, including transaction value, transaction volume, average transaction value, load value, and the total number of cards in circulation. Card Types: A distinction is made between open-loop and closed-loop prepaid cards, providing insights into their respective market shares and growth trajectories. Usage Categories: The report segments the prepaid card market into various categories such as general-purpose cards, business and administrative expense cards, travel forex cards, and meal cards. Business Segmentation: Further segmentation is provided based on business size and type, including small-scale businesses, mid-tier businesses, enterprise-level businesses, government entities, and retail consumers. Sector-Specific Applications: The analysis extends to specific sectors utilizing prepaid cards, including transit and toll payments, healthcare and wellness services, social security and other government benefit programs, fuel purchases, utilities, and more. Digital Wallet Market Insights Key Segments: The digital wallet market is dissected across five primary spending categories: retail shopping, travel, entertainment and gaming, dining establishments, and recharge and bill payments. Performance Metrics: For each segment, the report evaluates transaction value, transaction volume, and average transaction value, offering a granular view of consumer spending behaviors. Retail Spend Breakdown: An in-depth analysis is provided for retail spending via digital wallets, covering categories such as food and grocery, health and beauty products, apparel and footwear, books, music and video, consumer electronics, pharmacy and wellness, gas stations, restaurants and bars, toys, kids and baby products, services, and other miscellaneous categories. Virtual Prepaid Card Market Segmentation Categories Analyzed: The virtual prepaid card market is segmented into key categories, including general-purpose cards, gift cards, entertainment and gaming cards, teen and campus cards, business and administrative expense cards, payroll cards, meal cards, travel forex cards, transit and toll cards, social security and other government benefit program cards, fuel cards, utilities, and other miscellaneous categories. Performance Evaluation: For each category, the report assesses transaction value, providing insights into the adoption and usage patterns of virtual prepaid cards across different consumer segments. Consumer Usage Trends Age Groups: Identifying usage patterns across different age demographics. Income Levels: Analyzing how income brackets influence prepaid card adoption and usage. Gender: Examining differences in usage trends between genders. Key Attributes: Report Attribute Details No. of Pages 159 Forecast Period 2025 - 2029 Estimated Market Value (USD) in 2025 $15.2 Billion Forecasted Market Value (USD) by 2029 $25.62 Billion Compound Annual Growth Rate 13.9% Regions Covered Nigeria For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Nigerian Prepaid Card and Digital Wallet Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
- Yahoo
Park Aerospace Corp. Declares Cash Dividend
NEWTON, Kan., June 09, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Park Aerospace Corp. (NYSE-PKE) has declared a regular quarterly cash dividend of $0.125 per share payable August 1, 2025 to shareholders of record at the close of business on July 1, 2025. Park has paid 40 consecutive years of uninterrupted regular quarterly cash dividends, without ever skipping a dividend payment or reducing the amount of the dividend. The Company has paid $603.6 million in cash dividends, or $29.475 per share, since the beginning of the Company's 2005 fiscal year. Park Aerospace Corp. develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the global aerospace markets. Park's advanced composite materials include film adhesives (Aeroadhere®) and lightning strike protection materials (Electroglide®). Park offers an array of composite materials specifically designed for hand lay-up or automated fiber placement (AFP) manufacturing applications. Park's advanced composite materials are used to produce primary and secondary structures for jet engines, large and regional transport aircraft, military aircraft, Unmanned Aerial Vehicles (UAVs commonly referred to as 'drones'), business jets, general aviation aircraft and rotary wing aircraft. Park also offers specialty ablative materials for rocket motors and nozzles and specially designed materials for radome applications. As a complement to Park's advanced composite materials offering, Park designs and fabricates composite parts, structures and assemblies and low volume tooling for the aerospace industry. Target markets for Park's composite parts and structures (which include Park's proprietary composite SigmaStrut™ and AlphaStrut™ product lines) are, among others, prototype and development aircraft, special mission aircraft, spares for legacy military and civilian aircraft and exotic spacecraft. Park's objective is to do what others are either unwilling or unable to do. When nobody else wants to do it because it is too difficult, too small or too annoying, sign us up. Additional corporate information is available on the Company's website at Contact: Donna D'Amico-Annitto 486 North Oliver Road, Bldg. ZNewton, Kansas 67114(316) 283-6500Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
- Yahoo
Gradient Coils for MRI Systems Market Expected to Grow at a 7.5% CAGR Through 2034
Gradient Coils for MRI System Market: Forecast to 2034 Luton, Bedfordshire, United Kingdom, June 09, 2025 (GLOBE NEWSWIRE) -- The global gradient coils for MRI system market is witnessing substantial transformation, driven by a growing emphasis on early diagnostic imaging, advanced imaging quality, and the increasing adoption of AI technologies in healthcare. Estimated at USD 1.2 billion in 2024, the market is expected to reach around USD 2.5 billion by 2034, registering a CAGR of approximately 7.5% throughout the forecast period. This robust growth trajectory is fueled by both technological innovation and structural shifts in the healthcare landscape. Download PDF Brochure: Market Drivers and Growth Catalysts One of the primary drivers of this market is the increasing need for high-quality medical imaging, particularly for early diagnosis and personalized medicine. Gradient coils are integral to MRI systems, enhancing image quality and enabling precise scanning. The integration of artificial intelligence (AI) and machine learning technologies into MRI systems is further improving scan accuracy and reducing time, enhancing workflow efficiency and patient throughput. Additionally, the growing demand for compact and portable MRI systems is driving innovation in gradient coil designs. With the rise of outpatient and ambulatory surgical centers, there is a need for more flexible imaging solutions, resulting in increased demand for advanced gradient coils capable of delivering high performance in smaller, lightweight formats. Market Segmentation Overview The gradient coils market can be segmented based on product type, application, end user, technology, material, and distribution channel. By Product Type: Passive Gradient Coils Active Gradient Coils Active gradient coils dominate the market due to their superior performance in controlling field gradients and minimizing noise. They hold approximately 65% of the market share and are particularly favored in high-field MRI systems for their precision. By Application: Neurology Oncology Cardiology Musculoskeletal Others Neurology leads the application segment with a 35% share, attributed to increasing neurological disorder cases and the demand for high-resolution imaging. Oncology follows closely, fueled by innovations in cancer detection and therapy planning. By End User: Hospitals Diagnostic Imaging Centers Research Institutes Hospitals are the largest consumers, contributing nearly 50% to the market, thanks to their significant investments in MRI technology. Diagnostic imaging centers hold a 30% share, while research institutes play a vital role in fostering innovation. By Technology: Closed MRI Systems Open MRI Systems Closed MRI systems dominate with about 75% market share due to their higher imaging strength and application in hospital settings. However, open MRI systems are gaining traction among claustrophobic patients and pediatric use cases. By Material: Copper Aluminum Superconducting Materials Copper remains the most commonly used material due to its cost efficiency, accounting for about 60% of the market. However, superconducting materials are gaining momentum for their energy efficiency and performance benefits in high-end MRI systems. Browse full Report - Market Segmentation By Type - Passive Gradient Coils - Active Gradient Coils By Application - Neurology - Oncology - Cardiology - Musculoskeletal - Others By End-User - Hospitals - Diagnostic Imaging Centers - Research Institutes By Technology - Closed MRI Systems - Open MRI Systems By Material - Copper - Aluminum - Superconducting Materials Regional Insights North America leads the global market with a 45% revenue share in 2024, driven by advanced healthcare infrastructure, high R&D spending, and the presence of key industry players. The region is expected to grow at a CAGR of 6.5% through 2034. Europe holds around 30% market share, benefiting from universal healthcare coverage, public health investments, and strong demand for preventive diagnostics. Growth in the region is slightly slower, with a forecasted CAGR of 5.8%. Asia-Pacific is emerging as the fastest-growing region, with a projected CAGR of 8.2%. Increasing healthcare spending, medical reforms, and rising awareness of MRI technologies are key factors contributing to this growth. Rapid urbanization and expanding hospital networks in countries like China and India further support market expansion. Latin America and Middle East & Africa remain relatively smaller markets but are expected to grow steadily. Latin America is projected to grow at 3.5% CAGR, while MEA is forecasted at around 4.0%, driven by incremental infrastructure improvements and government healthcare initiatives. Challenges and Market Restraints Despite strong growth prospects, the market faces several obstacles. One major constraint is the high cost associated with MRI systems, including gradient coils. This limits adoption in cost-sensitive regions and small-scale healthcare facilities. Regulatory challenges also pose hurdles. Stringent approval processes for medical devices can delay product launches and increase costs for manufacturers. Furthermore, pricing pressures due to intense competition among market players often reduce profit margins, impacting R&D investment. Supply chain disruptions, highlighted during global crises like the COVID-19 pandemic, have also affected the availability of raw materials and components needed for gradient coil production. Delays in procurement and increased manufacturing costs can inhibit market stability. Emerging Opportunities and Trends New technological innovations and evolving business models are reshaping market dynamics. Companies are exploring alternative materials and improved coil designs to enhance energy efficiency and reduce device size. The demand for portable MRI units is fostering interest in lightweight, flexible gradient coils. Business models like MRI-as-a-Service (MraaS) are gaining momentum, offering healthcare facilities an affordable alternative to outright purchasing. This model allows recurring revenue for manufacturers and expands market access to mid-tier hospitals and rural centers. AI integration is another promising trend. As imaging software becomes more sophisticated, AI-driven optimization of gradient coil usage enhances image quality and reduces diagnostic errors. Partnerships between hardware providers and AI solution developers are expected to create next-gen MRI systems. Furthermore, the market is benefiting from the expansion of telehealth and remote diagnostics. These applications necessitate advanced imaging tools that can be used in decentralized or home-based settings, providing a promising avenue for compact MRI systems equipped with versatile gradient coils. Buy Now : Competitive Landscape Major players in the market include: Siemens Healthineers GE Healthcare Philips Healthcare Canon Medical Systems Hitachi Medical Systems Toshiba Medical Systems Varian Medical Systems Brainlab Shimadzu Corporation Esaote Agfa Healthcare Mindray Medical Fujifilm Holdings Neusoft Medical Systems United Imaging Healthcare Recent Developments In September 2023, Siemens Healthineers launched a new MRI system equipped with advanced gradient coils, designed to shorten scan times while improving image resolution. This innovation enhances operational efficiency and aligns with the growing need for faster diagnostics. In August 2023, GE Healthcare acquired a biotechnology firm specializing in MRI contrast agents. This acquisition enables GE to provide integrated imaging solutions, combining hardware and consumables, and positioning itself as a full-spectrum MRI provider. In July 2023, Philips Healthcare partnered with an AI technology firm to develop machine learning algorithms tailored for MRI diagnostics. The collaboration aims to enhance scanning accuracy and improve clinical decision-making. In June 2023, Canon Medical Systems received FDA approval for its latest MRI technology featuring next-gen gradient coils. This regulatory milestone strengthens Canon's foothold in the North American market and underlines its commitment to compliance and innovation. In May 2023, Mindray Medical introduced a new MRI system with enhanced gradient coil flexibility. The system is designed for lower-tier hospitals and developing markets, offering high performance at a lower cost, which expands access to premium diagnostic tools. This report is also available in the following languages : Japanese (MRIシステム向け傾斜磁場コイル市場), Korean (MRI 시스템 시장용 그래디언트 코일), Chinese (MRI系统梯度线圈市场), French (Bobines de gradient pour le marché des systèmes d'IRM), German (Gradientenspulen für den MRT-Systemmarkt), and Italian (Bobine di gradiente per il mercato dei sistemi MRI), etc. Request Sample Pages: More Research Finding – Fetal Magnetic Resonance Imaging System Market The global fetal magnetic resonance imaging (fMRI) system market is valued at approximately $150 million. This innovative imaging technology is essential for prenatal diagnostics, providing non-invasive insights into fetal development. The market is projected to reach around $350 million by 2034, driven by advancements in MRI technology and increasing awareness of prenatal health. Magnetic Resonance Imaging Gradient Coil Market The global market for Magnetic Resonance Imaging (MRI) Gradient Coils is valued at approximately $1.5 billion in 2024, driven by increasing demand for advanced imaging technologies and rising incidences of chronic diseases requiring precise diagnostics. The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 7.5%, reaching an estimated value of $3.1 billion by 2034. RF Coil for MRI System Market The RF coil market for MRI systems is valued at approximately $1.2 billion in 2024, with projections indicating a surge to around $2.2 billion by 2034. This represents a robust Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period from 2025 to 2034. Superconducting Magnet for Medical MRI System Market The global superconducting magnet market for medical MRI systems was valued at approximately $2.5 billion in 2024, with projections suggesting a growth to around $4.5 billion by 2034. This represents a robust Compound Annual Growth Rate (CAGR) of about 6.5% during the forecast period from 2025 to 2034. Superconducting MRI System Market The global superconducting MRI system market is poised to reach a value of approximately $6.8 billion in 2024, driven by advancements in imaging technologies and a growing focus on precision medicine. The market is projected to expand robustly, anticipating a compound annual growth rate (CAGR) of around 5.6% from 2025 to 2034, potentially escalating to over $10 billion by the end of this forecast period. MR Neuro Imaging Market The global MR neuroimaging market is projected to reach a value of approximately $5.1 billion in 2024, driven by advancements in imaging technologies, increasing incidence of neurological disorders, and growing demand for non-invasive diagnostic tools. Forecasted growth for the period 2025–2034 points to a market value of around $8.4 billion, reflecting a compound annual growth rate (CAGR) of approximately 5.1%. Superconducting Magnets MRI Systems Market The global superconducting magnets MRI systems market is valued at approximately $4.5 billion in 2024, with expectations for robust growth, poised to reach around $7.5 billion by 2034. This represents a compound annual growth rate (CAGR) of 5.2% from 2025 to 2034. VXR Veterinary Radiological System Market The global VXR veterinary radiological systems market is valued at approximately $650 million, driven by an increased focus on advanced diagnostic imaging techniques in veterinary medicine. The market is projected to achieve a value of $1.2 billion by 2034, reflecting the growing demand for sophisticated radiological technologies and the rising prevalence of pet diseases. This represents a Compound Annual Growth Rate (CAGR) of around 6.3% during the forecast period (2025–2034). Diagnostic Medical Imaging Equipment Market The global diagnostic medical imaging equipment market is projected to reach a value of approximately $49 billion in 2024, reflecting a significant surge driven by advancements in technology and increasing healthcare expenditure. The market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of around 7.5% from 2025 to 2034, reaching an estimated value of $95 billion by the end of the forecast period. Superconducting Magnetic Resonance Imaging System Market The global superconducting magnetic resonance imaging (MRI) system market is valued at approximately $7.5 billion in 2024, with projections estimating growth to around $12 billion by 2034. This indicates a robust Compound Annual Growth Rate (CAGR) of about 5% during the forecast period from 2025 to 2034. Mobile Scan Radiology Room Market The global mobile scan radiology room market is valued at approximately $5 billion in 2024, with projections indicating a robust growth trajectory leading to an estimated market value of $8.5 billion by 2034. This represents a Compound Annual Growth Rate (CAGR) of around 6.0% during the forecast period from 2025 to 2034. Medical Magnetic Resonance Imaging MRI Equipment Market The global market for medical magnetic resonance imaging (MRI) equipment is valued at approximately $6.5 billion. The market is anticipated to grow significantly, with projections showing a value of around $9.8 billion by 2034, representing a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period from 2025 to 2034. MRI Systems Devices Market The global MRI systems market is valued at approximately $7.2 billion, with expectations of reaching $11.5 billion by 2034, driven by technological advancements and increasing demand for diagnostic imaging. The market is projected to witness a Compound Annual Growth Rate (CAGR) of approximately 4.7% during the forecast period from 2025 to 2034. U.S. Preclinical Imaging Market The U.S. preclinical imaging market is estimated to be valued at approximately $2.4 billion in 2024, with growth projected to reach around $4.5 billion by 2034. This growth corresponds to a Compound Annual Growth Rate (CAGR) of approximately 6.7% during the forecast period from 2025 to 2034. U.S. Digital Radiology Devices Market The U.S. digital radiology devices market is valued at approximately $4.7 billion, driven by advancements in imaging technologies and increased demand for diagnostic imaging. The projected market value for 2034 is expected to reach around $8.6 billion, reflecting a robust growth trajectory. This translates to a Compound Annual Growth Rate (CAGR) of about 6.3% from 2025 to 2034. Digital Radiology Devices Market The digital radiology devices market is valued at approximately $10.5 billion in 2024, with significant growth expected over the forecast period of 2025 to 2034, projected to reach around $18.6 billion. This growth reflects a compound annual growth rate (CAGR) of about 6.2%. Magnetic Resonance Imaging Scanners Market The global magnetic resonance imaging scanners market is anticipated to grow from USD 7.72 Billion in 2023 to USD 11.96 Billion by 2030, at a CAGR of 6.45 % during the forecast period. CONTACT: Irfan Tamboli (Head of Sales) Phone: + 1704 266 3234 Email: sales@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
