SUPERCONDUCTING MAGNETS MARKET ANALYSIS

Superconducting Magnets MarketSize and Trends

Market Outlook

Global superconducting magnets market size is projected to increase significantly over the forecast period (2019-2027). Growing use of superconducting magnets in the healthcare industry is expected to drive the market growth during the forecast period. Superconducting magnets are crucial part of magnetic resonance imaging (MRI), an electronic equipment used for clinical diagnosis of the body. Moreover, superconducting magnets are used in molecular biology for development of novel drugs, which is expected to increase the demand for superconducting magnets and thereby boost the market growth. Furthermore, nuclear magnetic resonance (NMR) is another major application for superconducting magnetics, which is used for stabilization of nuclear waste. NMR with superconducting magnets can be used for treatment of chronic disease such as cancer of various vital organs. Increasing demand for such treatment and nuclear waste management is expected to drive growth of the market during the forecast period. Moreover, growing use of superconducting magnets in manufacturing industry is expected to propel the market growth in the near future. Superconducting magnets are used manufacturing industry to remove magnetic impurities. This helps to augment the whitening of paper or ceramic products.

Market- Trends

Growing use of superconducting magnets in the healthcare industry is expected to drive the market growth during the forecast period. Superconducting magnets are crucial part of magnetic resonance imaging (MRI), an electronic equipment used for clinical diagnosis of the body. Moreover, superconducting magnets are used in molecular biology for development of novel drugs, which is expected to increase the demand for superconducting magnets and thereby boost the market growth. Furthermore, nuclear magnetic resonance (NMR) is another major application for superconducting magnetics, which is used for stabilization of nuclear waste. NMR with superconducting magnets can be used for treatment of chronic disease such as cancer of various vital organs. Increasing demand for such treatment and nuclear waste management is expected to drive growth of the market during the forecast period. Moreover, growing use of superconducting magnets in manufacturing industry is expected to propel the market growth in the near future. Superconducting magnets are used manufacturing industry to remove magnetic impurities. This helps to augment the whitening of paper or ceramic products.