Kornit Digital Reports Fourth Quarter and Full Year 2024 Results
Fourth quarter revenues of $60.7 million, in line with previous guidance
Fourth quarter GAAP net income of $2.2 million; non-GAAP net income of $8.7 million
Successfully delivered positive EBITDA and strong cash flow from operating activities in both Q4 and for the full year 2024
Breakthrough innovations and continued momentum across our markets set the stage for profitable growth in 2025
ROSH-HA`AYIN, Israel, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Kornit Digital Ltd. ('Kornit' or the 'Company') (Nasdaq: KRNT), a global leader in sustainable, on-demand, digital fashion and textile production technologies, today reported its results for the fourth quarter and full year ended December 31, 2024.
'Our fourth quarter performance was fueled by a successful peak season and growing impressions across our key customers,' said Ronen Samuel, Kornit's Chief Executive Officer. 'One of the most exciting highlights of Q4 was the Apollo platform's performance. Having delivered 15 Apollo systems throughout the year, with most becoming fully operational during this critical period, customer feedback has been excellent, reinforcing Apollo's role as a key enabler of mass-scale digital production.'
Mr. Samuel continued that 'at the beginning of 2024, we set clear objectives: return to positive EBITDA, generate meaningful cash flow, and establish a scalable, disciplined model that fuels long-term expansion. Thanks to the dedicated efforts of our teams, I am pleased to report that we not only delivered on these goals but also introduced game-changing innovations, strengthened our market position, and expanded into new strategic adjacencies.'
Mr. Samuel concluded, 'As we stated in our last call, 2025 is about execution—translating the strong foundation built in 2024 into scalable, profitable growth, strengthening our market leadership and driving the industry forward with our innovative solutions and business models.'
Fourth Quarter 2024 Results of Operations
Total revenue for the fourth quarter of 2024 was $60.7 million compared with $56.6 million in the prior year period, due primarily to growth in products revenue.
GAAP gross profit margin for the fourth quarter of 2024 was 51.3% compared with 25.8% in the prior year period. On a non-GAAP basis, gross profit margin was 55.1% compared with 48.6% in the prior year period.
GAAP operating expenses for the fourth quarter of 2024 were $32.3 million compared with $42.4 million in the prior year period. On a non-GAAP basis, operating expenses decreased by 6.9% to $28.0 million compared with the prior year period.
GAAP net income for the fourth quarter of 2024 was $2.2 million, or $0.05 basic and diluted per share, compared with net loss of $22.9 million, or ($0.48) basic and diluted per share, for the fourth quarter of 2023.
Non-GAAP net income for the fourth quarter of 2024 was $8.7 million, or $0.18 basic and diluted per share, compared with non-GAAP net income of $3.8 million, or $0.08 per basic share, for the fourth quarter of 2023.
Adjusted EBITDA for the fourth quarter of 2024 was $8.4 million compared with adjusted EBITDA of $0.2 million for the fourth quarter of 2023. Adjusted EBITDA margin for the fourth quarter of 2024 was 13.8% compared with 0.3% for the fourth quarter of 2023.
Full Year 2024 Results of Operations
Total revenue for the full year 2024 was $203.8 million compared with $219.8 million in the prior year, due primarily to lower systems revenue.
GAAP gross profit margin for the full year 2024 was 45.0% compared with 30.5% in the prior year. On a non-GAAP basis, gross profit margin was 48.6% compared with 38.4% in the prior year.
GAAP operating expenses for the full year 2024 were $129.1 million compared with $154.5 million in the prior year. On a non-GAAP basis, operating expenses decreased by 14.0% to $109.8 million compared with the prior year.
GAAP net loss for the full year 2024 was $16.8 million, or ($0.35) basic and diluted per share, compared with net loss of $64.4 million, or ($1.31) basic and diluted per share, for the full year 2023.
Non-GAAP net income for the full year 2024 was $10.1 million, or non-GAAP basic and diluted net income per share was $0.21 and $0.20, respectively, compared with non-GAAP net loss of $20.4 million, or ($0.42) basic and diluted per share, for the full year 2023.
Adjusted EBITDA for the full year 2024 was $0.3 million compared with adjusted EBITDA loss of $30.9 million for the full year 2023. Adjusted EBITDA margin for the full year 2024 was 0.2% compared with –14.0% for the full year 2023.
First Quarter 2025 Guidance
For the first quarter of 2025, the Company expects revenues to be in the range of $45.5 million to $49.5 million and adjusted EBITDA margin between –9% to –4% of revenue.
Fourth Quarter and Full Year 2024 Earnings Conference Call Information
The Company will host a conference call today at 8:30 a.m. ET, or 3:30 p.m. Israel time, to discuss the results, followed by a question-and-answer session with the investor community.
A live webcast of the call can be accessed at ir.kornit.com. To access the call, participants may dial toll-free at 1-877-407-0792 or 1-201-689-8263. The toll-free Israeli number is 1 809 406 247.
To listen to a replay of the conference call, dial toll-free 1-844-512-2921 or 1-412-317-6671 and enter confirmation code 13751316. The telephone replay will be available approximately three hours after the completion of the live call until 11:59 pm ET on February 26, 2025. The call will also be available for replay via the webcast link on Kornit's Investor Relations website.
About Kornit Digital
Kornit Digital (NASDAQ: KRNT) is a worldwide market leader in sustainable, on-demand, digital fashion, and textile production technologies. The company offers end-to-end solutions including digital printing systems, inks, consumables, software, and fulfillment services through its global fulfillment network. Headquartered in Israel with offices in the USA, Europe, and Asia Pacific, Kornit Digital serves customers in more than 100 countries and states worldwide. To learn more about how Kornit Digital is boldly transforming the world of fashion and textiles, visit www.kornit.com.
Forward Looking Statements
Certain statements in this press release are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. securities laws. Forward-looking statements are characterized by the use of forward-looking terminology such as 'will,' 'expects,' 'anticipates,' 'continue,' 'believes,' 'should,' 'intended,' 'guidance,' 'preliminary,' 'future,' 'planned,' or other words. These forward-looking statements include, but are not limited to, statements relating to the Company's objectives, plans and strategies, statements of preliminary or projected results of operations or of financial condition and all statements that address activities, events, or developments that the Company intends, expects, projects, believes or anticipates will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: the duration and severity of adverse macro-economic headwinds that were caused by inflationary pressures and higher interest rates, which have impacted, and may continue to impact, in an adverse manner, the Company's operations, financial position and cash flows, in part due to the adverse impact on the Company's customers and suppliers; the Company's degree of success in developing, introducing and selling new or improved products and product enhancements including specifically the Company's Poly Pro and Presto products, and the Company's Apollo direct-to-garment platform; the extent of the Company's ability to consummate sales to large accounts with multi-system delivery plans; the degree of the Company's ability to fill orders for its systems and consumables; the extent of the Company's ability to increase sales of its systems, ink and consumables; the extent of the Company's ability to leverage its global infrastructure build-out; the development of the market for digital textile printing; the availability of alternative ink; competition; sales concentration; changes to the Company's relationships with suppliers; the extent of the Company's success in marketing; and those additional factors referred to under 'Risk Factors' in Item 3.D of the Company's Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 28, 2024. Any forward-looking statements in this press release are made as of the date hereof, whether as a result of new information, future events or otherwise, except as required by law.
Non-GAAP Discussion Disclosure
The Company presents certain non-GAAP financial measures, in this press release and in the accompanying conference call to discuss the Company's quarterly results. These non-GAAP financial measures reflect adjustments to corresponding GAAP financial measures in order to exclude the impact of the following: share-based compensation expenses; amortization of intangible assets; restructuring expenses; foreign exchange differences associated with ASC 842; and non-cash deferred tax income.
The Company defines 'Adjusted EBITDA' as non-GAAP operating income (loss), which reflects the adjustments described in the preceding paragraph, as further adjusted to exclude depreciation expense.
The purpose of the foregoing non-GAAP financial measures is to convey the Company's performance exclusive of non-cash charges and other items that are considered by management to be outside of the Company's core operating results. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Furthermore, the non-GAAP measures are regularly used internally to understand, manage, and evaluate the Company's business and make operating decisions, and the Company believes that they are useful to investors as a consistent and comparable measure of the ongoing performance of the Company's business. The Company's non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with the Company's consolidated financial statements prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.
The reconciliation tables included below present a reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measures.
Jared Maymon
[email protected]
KORNIT DIGITAL LTD.
AND ITS SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)
December 31, December 31,
2024 2023
(Unaudited) (Audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 35,003 $ 39,605
Short-term bank deposit 205,934 235,600
Marketable securities 222,937 57,292
Trade receivables, net 65,459 93,632
Inventory 60,342 67,712
Other accounts receivable and prepaid expenses 25,714 28,546
Total current assets 615,389 522,387
LONG-TERM ASSETS:
Marketable securities 48,086 223,203
Deposits and other long-term assets 10,542 8,209
Severance pay fund 306 283
Property, plant and equipment, net 45,342 50,905
Equipment on lease, net 13,880 -
Operating lease right-of-use assets 19,054 23,782
Intangible assets, net 5,721 7,647
Goodwill 29,164 29,164
Total long-term assets 172,095 343,193
Total assets 787,484 865,580
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Trade payables 9,019 6,936
Employees and payroll accruals 13,101 12,121
Deferred revenues and advances from customers 2,339 2,158
Operating lease liabilities 3,311 5,073
Other payables and accrued expenses 16,561 23,814
Total current liabilities 44,331 50,102
LONG-TERM LIABILITIES:
Accrued severance pay 1,051 1,080
Operating lease liabilities 15,065 18,533
Other long-term liabilities 138 198
Total long-term liabilities 16,254 19,811
SHAREHOLDERS' EQUITY 726,899 795,667
Total liabilities and shareholders' equity $ 787,484 $ 865,580
KORNIT DIGITAL LTD.
AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except share and per share data)
Three Months Ended Year Ended
December 31, December 31,
2024 2023 2024 2023
(Unaudited) (Unaudited) (Audited)
Revenues
Products $ 47,711 $ 43,573 $ 148,086 $ 161,045
Services 12,985 13,012 55,739 58,741
Total revenues 60,696 56,585 203,825 219,786
Cost of revenues
Products 18,088 23,125 61,697 91,516
Services 11,479 18,888 50,366 61,313
Total cost of revenues 29,567 42,013 112,063 152,829
Gross profit 31,129 14,572 91,762 66,957
Operating expenses:
Research and development, net 9,781 12,033 41,578 50,060
Sales and marketing 15,200 17,909 58,413 66,836
General and administrative 7,358 12,449 29,086 37,592
Total operating expenses 32,339 42,391 129,077 154,488
Operating loss (1,210) (27,819) (37,315) (87,531)
Financial income, net 3,849 5,424 22,350 24,150
Income (loss) before taxes on income 2,639 (22,395) (14,965) (63,381)
Taxes on income 423 539 1,835 970
Net income (loss) $ 2,216 $ (22,934) $ (16,800) $ (64,351)
Basic income (loss) per share $ 0.05 $ (0.48) $ (0.35) $ (1.31)
Weighted average number of shares
used in computing basic net income (loss) per share 47,180,390 48,231,916 47,482,820 49,160,266
Diluted income (loss) per share $ 0.05 $ (0.48) $ (0.35) $ (1.31)
Weighted average number of shares
used in computing diluted net income (loss) per share 48,222,449 48,231,916 47,482,820 49,160,266
KORNIT DIGITAL LTD.
AND ITS SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except share and per share data)
Three Months Ended Year Ended
December 31, December 31,
2024 2023 2024 2023
(Unaudited) (Unaudited)
Revenues $ 60,696 $ 56,585 $ 203,825 $ 219,786
GAAP cost of revenues $ 29,567 $ 42,013 $ 112,063 $ 152,829
Cost of product recorded for share-based compensation (1) (524) (545) (2,018) (2,356)
Cost of service recorded for share-based compensation (1) (409) (447) (1,703) (1,758)
Intangible assets amortization on cost of product (2) (176) (260) (936) (1,053)
Intangible assets amortization on cost of service (2) (160) (160) (640) (640)
Restructuring expenses (3) (1,067) (11,501) (1,981) (11,590)
Non-GAAP cost of revenues $ 27,231 $ 29,100 $ 104,785 $ 135,432
GAAP gross profit $ 31,129 $ 14,572 $ 91,762 $ 66,957
Gross profit adjustments 2,336 12,913 7,278 17,397
Non-GAAP gross profit $ 33,465 $ 27,485 $ 99,040 $ 84,354
GAAP operating expenses $ 32,339 $ 42,391 $ 129,077 $ 154,488
Share-based compensation (1) (4,151) (4,653) (18,035) (18,475)
Intangible assets amortization (2) (88) (93) (350) (550)
Restructuring expenses (3) (105) (7,579) (862) (7,785)
Non-GAAP operating expenses $ 27,995 $ 30,066 $ 109,830 $ 127,678
GAAP Financial income, net $ 3,849 $ 5,424 $ 22,350 $ 24,150
Foreign exchange losses associated with ASC 842 (169) 1,579 388 378
Non-GAAP Financial income, net $ 3,680 $ 7,003 $ 22,738 $ 24,528
GAAP Taxes on income $ 423 $ 539 $ 1,835 $ 970
Non-cash deferred tax income - 88 - 666
Non-GAAP Taxes on income $ 423 $ 627 $ 1,835 $ 1,636
GAAP Net income (loss) $ 2,216 $ (22,934) $ (16,800) $ (64,351)
Share-based compensation (1) 5,084 5,645 21,756 22,589
Intangible assets amortization (2) 424 513 1,926 2,243
Restructuring expenses (3) 1,172 19,080 2,843 19,375
Foreign exchange losses associated with ASC 842 (169) 1,579 388 378
Non-cash deferred tax income - (88) - (666)
Non-GAAP net income (loss) $ 8,727 $ 3,795 $ 10,113 $ (20,432)
GAAP diluted income (loss) per share $ 0.05 $ (0.48) $ (0.35) $ (1.31)
Non-GAAP diluted income (loss) per share $ 0.18 $ 0.08 $ 0.20 $ (0.42)
Weighted average number of shares
Shares used in computing GAAP diluted net income (loss) per share 48,222,449 48,231,916 47,482,820 49,160,266
Shares used in computing Non-GAAP diluted net income (loss) per share 49,868,143 50,094,714 49,341,794 49,160,266
(1) Share-based compensation
Cost of product revenues $ 524 $ 545 $ 2,018 $ 2,356
Cost of service revenues 409 447 1,703 1,758
Research and development 1,255 1,329 5,310 5,759
Sales and marketing 1,212 1,635 6,228 6,689
General and administrative 1,684 1,689 6,497 6,027
$ 5,084 $ 5,645 $ 21,756 $ 22,589
(2) Intangible assets amortization
Cost of product revenues $ 176 $ 260 $ 936 $ 1,053
Cost of service revenues 160 160 640 640
Sales and marketing 88 93 350 550
$ 424 $ 513 $ 1,926 $ 2,243
(3) Restructuring expenses
Cost of product revenues $ 818 $ 5,569 $ 1,683 $ 5,658
Cost of service revenues 249 5,932 298 5,932
Research and development - 860 235 880
Sales and marketing - 2,744 190 2,930
General and administrative 105 3,975 437 3,975
$ 1,172 $ 19,080 $ 2,843 $ 19,375
KORNIT DIGITAL LTD.
AND ITS SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA
(U.S. dollars in thousands, except share and per share data)
Three Months Ended Year Ended
December 31, December 31,
2024 2023 2024 2023
(Unaudited) (Unaudited)
GAAP Revenues $ 60,696 $ 56,585 $ 203,825 $ 219,786
GAAP Net income (loss) 2,216 (22,934) (16,800) (64,351)
Taxes on income 423 539 1,835 970
Financial income (3,849) (5,424) (22,350) (24,150)
Share-based compensation 5,084 5,645 21,756 22,589
Intangible assets amortization 424 513 1,926 2,243
Non-GAAP Operating income (loss) 5,470 (2,581) (10,790) (43,324)
Depreciation 2,889 2,774 11,121 12,457
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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
