Market Size & Trends
The size of the global magnetic resonance imaging coils market was estimated at USD 9.1 billion in 2024 and is anticipated to grow at a CAGR of 8.4% during the period from 2025 to 2030. The growing incidence of chronic diseases, including neurological & cardiovascular disorders and cancer, is anticipated to propel the market.
For example, as per the International Agency for Research on Cancer (IARC), the world's cancer burden is likely to rise to 50,550,287 by the year 2025 from 19,292,789 in the year 2020. This is likely to enhance the requirement for magnetic resonance imaging (MRI) machines for better diagnosis, and therefore, is likely to propel the MRI coils market.The world magnetic resonance imaging (MRI) coils market is propelled by increasing demand for MRI procedures in diagnostic and research applications. The rising incidence of chronic diseases like cancer, neurological disease, and cardiovascular disease has hugely augmented the demand for sophisticated imaging modalities like MRI, which provides better soft tissue contrast and functional imaging abilities. According to the Centers for Disease Control and Prevention (CDC), cardiovascular disease remains the leading health threat in the U.S., with the condition claiming a life every 33 seconds and accounting for roughly one in every five deaths.
With MRI scans becoming increasingly a part of standard diagnostic practices, medical providers are adding MRI services to serve the needs of patients, and this in turn directly contributes to the demand for MRI coils, which are vital elements in the imaging sequence. In addition to this, the increasing number of geriatric populations, who are more susceptible to age-related ailments that necessitate MRI testing, is further increasing procedural volumes. For example, as per the World Health Organization (WHO), the number of geriatric population worldwide aged 60 years and above is projected to rise from approximately 1.1 billion in 2023 to approximately 1.4 billion in 2030.
Further, the alliances and collaborations among the market participants to create application and device-specific products are also increasing the level of innovation in the market. For example, in January 2024, InkSpace Imaging gained FDA approval for its novel small body array MRI coil developed exclusively for Siemens Healthineers' Vida series 3T & Magnetom Skyra scanners. The next-generation coil is designed to be light, flexible, and cuddly, wrapping around patients like a blanket, which maximizes patient comfort while dramatically increasing the signal-to-noise ratio for sharper imaging.
Likewise, in January 2025, Pleasanton-based InkSpace Imaging received FDA clearance for its groundbreaking 1.5‑tesla 24‑channel MRI coil for use on Siemens Healthineers' Magnetom scanners. Featuring high‑density coil elements, a lightweight and flexible construction, and parallel imaging compatibility with advanced features, the coil improves signal‑to‑noise ratio, patient comfort, and scan times. These efforts enhance the uptake of technologically sophisticated products in the market, promoting innovation and market expansion.
Additionally, the increasing initiatives by imaging service providers and healthcare facilities to expand their MRI services increases the demand for MRI coils. For instance, in October 2024, Princeton Radiology announced an expansion into Newtown, Pennsylvania with a state-of-the-art imaging center. Furthermore, the global push toward strengthening rural healthcare infrastructure and public-private partnerships in healthcare delivery has extended MRI access beyond metropolitan regions, further driving the growth of MRI coil market.
Market Concentration & Characteristics
The MRI coils market is fairly concentrated, with a few industry leaders like Siemens Healthineers, GE Healthcare, and Philips controlling large market share because of their robust technological strengths and worldwide presence. The market is highly entry-barred, considering the requirement for sophisticated R&D, regulatory clearances, and compatibility with MRI systems. Innovation, especially in flexible, lightweight, and high-channel coils, is a major competitive driver. Tailoring for targeted anatomical uses and compatibility with emerging MRI systems also propels differentiation. Hospital and imaging center partnerships further enhance positioning in the market and increase adoption of next-generation coil technologies.
The market for MRI coils is characterized by intense innovation driven by quick technological advancements and growing demand for patient-focused designs. In January 2024, scientists at INM-4 introduced a revolutionary single-channel butterfly coil with circular polarised (CP) mode instead of the conventional linear polarised (LP) mode. With the use of split resonance peak tuning, the CP coil demonstrated improved signal-to-noise ratio (SNR) in phased array configurations, a significant improvement in high-resolution MRI imaging.
Regulations play an important role in the MRI coils industry by facilitating safety, performance, and conformance to global standards. Governments like the United States FDA and the European Medicines Agency (EMA) govern the approval procedure for MRI parts, demanding intensive testing and qualification. Producers are required to achieve high levels of quality and safety standards, such as electromagnetic compatibility and biocompatibility. These regulations tend to lengthen product development cycles but are necessary to safeguard patient health and guarantee device reliability. Moreover, changing standards and regional requirements can complicate global market entry, making regulatory management an important consideration in the strategic planning of MRI coil makers.
M&A activities in the MRI coils sector are defining market forces, with activity of note like DirectMed Parts & Service purchasing ScanMed, LLC in October 2022. This business combination marries DirectMed's international parts distribution network with ScanMed's background in designing and repairing MRI coils. Together, the alliance intends to build enhanced coil repair and supply strengths, especially throughout Europe, via DirectMed's Danish subsidiary, LBN Medical. Even with the acquisition, ScanMed operates in its current Omaha, Nebraska brand. This merger is part of a broader industry movement toward growing service offerings and geographic presence to address increasing global demand for sophisticated MRI coil solutions. To support this perspective, ScanMed's CEO reported,
"Blending DirectMed's world-class parts inventory, capital base, and global distribution with ScanMed's MRI coil products and repair capabilities results in 'winnings across the board' for our businesses and customers alike. Our plan called for extending ScanMed's MRI coil distribution and repair base in Europe. With DirectMed's Danish-based subsidiary LBN Medical ApS, that dream will now materialize, therefore transferring the U.S. best to Europe."
In the MRI coils market, there are few substitute products because coils have a specialized function in magnetic resonance imaging. Nevertheless, other imaging technologies such as CT scans, ultrasound, and PET scans can act as indirect substitutes in some diagnostic uses. Such modalities tend to be selected for their cost, speed, or availability, particularly in areas with limited MRI facilities. However, none can entirely match the high-resolution soft tissue imaging ability of MRI. Technological improvements in portable imaging equipment and hybrid modalities are in process, but MRI coils are still indispensable to obtain high-resolution, localized imaging in clinical as well as research applications.
Regional growth in the MRI coils market involves attempts made by organizations to penetrate new geographic locations beyond their home markets. This growth is driven by developing economies speeding up their healthcare infrastructure development and struggling with increasing rates of chronic diseases. In April 2022, the Koninklijke Philips N.V. started manufacturing radio frequency (RF) coils for MRI equipment in India. The action came after a ₹400 crore (about $48 million) investment under India's Production-Linked Incentive (PLI) scheme to increase local medical production. The move is part of Philips' plan to expand its regional presence and address increasing local demand for MRI technologies.
Report Coverage & Deliverables
- Competitive benchmarking
- Historical data & forecasts
- Company revenue shares
- Regional opportunities
- Latest trends & dynamics
Type Insights
The radiofrequency coil market dominated with a 61.2% revenue share in 2024, driven by ongoing technological progress in RF coil technology. The RF coils play a crucial role in sending and receiving MRI signals, with developments enhancing design and efficiency, resulting in better image quality and increased clinical applications. A study published in Magnetic Resonance in Medicine in December 2024 showcased a Living Laboratory-developed, custom-designed RF head coil for 7T MRI. With parallel RF transmission (pTx) and multishot diffusion-weighted imaging (DWI), the coil solves problems such as signal inhomogeneity and image distortion.
The segment of the gradient coil is expected to grow at a steady rate throughout the forecast period, led by constant developments in technology. A significant breakthrough was made in November 2024, when GE HealthCare obtained FDA approval for its SIGNA MAGNUS 3.0T head-only MRI system. The system has an asymmetric, high-efficiency gradient coil that moves the gradient isocenter closer to the patient's head, enhancing neuroimaging performance without the shoulder constraint. Its HyperG gradient coil provides a strong 300 mT/m gradient amplitude and 750 T/m/s slew rate, setting new benchmarks for gradient performance in demanding imaging applications.
Application Insights
The neurology segment dominated the MRI coils market with a 22.7% revenue share in 2024 due to advancements in head coil technology. A prime example is the February 2025 partnership between Tesla Dynamic Coils BV and Alzamend Neuro, which led to a dedicated head coil for five future Phase II trials at Massachusetts General Hospital. This new coil makes it possible for high-resolution, whole-brain lithium imaging, empowering safer and more effective treatments of diseases such as Alzheimer's disease, bipolar disorder, major depressive disorder, and PTSD. The innovation further accentuates the increasing importance of next-generation MRI coils in neuroscience research and targeted diagnostics.
The spine and musculoskeletal segment is expected to grow to a CAGR of 9.1% over the forecast period. Some of the main growth drivers are rising sports activity, a growth in cases of trauma due to accidents and falls, and a rising global aging population. To date, in April 2024, according to the WHO, more than 15 million individuals globally have spinal cord injury (SCI), and the majority of the cases result from preventable trauma. This increasing prevalence heightens the demand for sophisticated MRI systems, particularly those that employ dedicated coils that provide accurate spinal and musculoskeletal diagnostic imaging.
End Use Insights
The hospitals segment generated the largest revenue share in 2024, driven by increasing demand for surgical and preventive care services. An interesting development was seen in March 2024 when Montgomery County Memorial Hospital + Clinics (MCMH + Clinics) launched its recently installed in-house MRI system. The upgrade tremendously enhances diagnostic capacity in rural regions, lessening the necessity for patients to travel out of their county for imaging services.
The diagnostic imaging centers segment is expected to register a CAGR of 8.8% during the forecast period, led by the growing demand for outpatient imaging services and affordable diagnostics. These centers provide faster appointment scheduling, shorter scan times, and lower costs than hospital-based imaging, which makes them a popular choice among patients and physicians. The increased emphasis on detecting diseases at early stages and the increasing incidence of conditions like cancer, cardiovascular illness, and neurological disorders add strength to the growth of this segment. Developments in MRI coil technologies are also improving image quality and efficiency in these centers.
Regional Insights
The North American MRI coils market led the global market and held a 41.9% revenue share in 2024. The growth is primarily fueled by the increasing adoption of MRI technology in primary care, improved healthcare accessibility, and high healthcare spending in nations with strong reimbursement systems. Continued technological innovation and the growing incidence of chronic diseases are likely to fuel market growth. At the RSNA conference in November 2023, Royal Philips introduced three MR Smart Fit coils. These flexible, lightweight coils are designed to reduce patient setup time and provide higher image quality. When combined with Philips' SmartSpeed AI technology, the coils are intended to increase diagnostic confidence and radiology efficiency, illustrating the industry's focus on patient-focused innovation.
The United States MRI coils market accounted for a dominant share of North America's MRI coils market in 2024. This is mainly due to the fact that the country has a high prevalence of diabetes and prediabetes, which affect approximately 136 million adults as of November 2023, according to CDC statistics. Regulatory developments also contributed to market growth, such as the FDA's wider 510(k) clearance in November 2024 for the Xenoview 3T MRI Chest Coil. Intended for application with GE HealthCare's MRI devices and hyperpolarized Xenon-129, the coil facilitates high-resolution lung ventilation imaging. This development improves diagnostic functionality for pulmonary disease, which indicates increasing use of specialized coils in clinical applications.
Europe Magnetic Resonance Imaging Coils Market Trends
The market for European magnetic resonance imaging (MRI) coils is seeing strong growth, driven by advances in technology and increased healthcare needs. As of January 2024, the population of the EU was 449.3 million, of which 21.6% were 65 or older, as per Eurostat. The population aged 65 or more is anticipated to reach 129.8 million by the year 2050. This population is more vulnerable to incurable diseases such as cardiovascular, cancer, and diabetes, leading to a greater demand for advanced imaging technology. The EU4Health initiative (2021-2027) with USD 5.3 billion in funding will improve healthcare systems further, driving the imaging market even higher. In 2022, Germany, France, and Austria were at the forefront of EU countries in terms of healthcare expenditure as a percentage of GDP.
The UK's magnetic resonance imaging (MRI) coils market is growing robustly, reflecting the rising prevalence of neurological conditions, especially dementia. The Alzheimer's Society estimates that there are approximately 982,000 people with dementia living in the UK at present, with more than a third still undiagnosed. This number is set to increase to 1.4 million by 2040. The economic burden is also set to spike, with costs increasing from £42 billion in 2024 to £90 billion by 2040 (USD 52.5-112.5 billion). All these factors further necessitate advanced MRI technologies that enable earlier and more precise neurological diagnoses.
France magnetic resonance imaging (MRI) coils market is anticipated to grow considerably during the forecast period. Such growth is fostered by the nation's advanced healthcare infrastructure, an increasing elderly population, and an increasing burden of cardiovascular disease. France's high healthcare expenditure facilitates increased exposure to advanced medical technologies, furthering the usage of innovative imaging technologies such as MRI coils.
The German magnetic resonance imaging (MRI) coils market is expanding steadily due to an aging population, increasing healthcare expenditure, and advances in imaging technology. Healthcare expenditure hit 11.7% of the country's GDP in 2023, from 11.2%, reflecting efforts to modernize medical infrastructure. With almost 20% of Western Europe's elderly population living in Germany, there is an increasing need for diagnostic imaging, particularly for cardiovascular ailments. The nation experiences approximately 65,000 sudden cardiac deaths annually, which makes it crucial to have accurate diagnostic equipment such as MRI coils to aid in early intervention and detection.
Asia Pacific Magnetic Resonance Imaging Coils Market Trends
The Asia Pacific market for magnetic resonance imaging (MRI) coils is growing at a healthy pace due to the large patient base, increased chronic disease awareness, and the need for cost-effective, high-quality diagnostics. Countries like India, China, and Southeast Asia are investing heavily in healthcare infrastructure and benefiting from supportive government programs that enhance MRI access. A key milestone occurred in August 2023 when AsiaMedic in Singapore installed the region's first SIGNA Hero 3.0T MRI scanner by GE HealthCare. Equipped with AIR Recon DL AI technology and Light AIR Coils, it provides a 4x increase in signal-to-noise ratio and significantly shortens scan setup and table times.
The Japan magnetic resonance imaging (MRI) coils market is experiencing steady growth, underpinned by a robust healthcare infrastructure, ongoing technological advancements, and favorable government policies. Being a leading OECD member and healthcare power house in the Asia Pacific region, Japan has the highest MRI availability in the world with 57.39 MRI units per million people, as per OECD statistics. Such high penetration drives huge domestic demand for sophisticated imaging products such as MRI coils, making it a strong base market for diagnostic imaging innovation.
China magnetic resonance imaging (MRI) coils market is expected to grow immensely over the forecast period due to demographic shifts, an increasing prevalence of diseases, especially cardiovascular diseases, and the fast growth of the private healthcare industry. Over 230 million Chinese will suffer from cardiovascular disease by 2025, with approximately 550,000 cardiac arrests each year, according to BioMed Central. This escalating health burden is increasing the demand for advanced diagnostic tools, especially cardiac MRI systems that require specialized coils for accurate imaging, fueling market growth.
India's magnetic resonance imaging (MRI) coils market is progressing with favorable trends in local manufacturing and research efforts. In March 2025, AIIMS New Delhi joined hands with the Society for Applied Microwave Electronics Engineering & Research (SAMEER) under a Memorandum of Understanding to jointly establish high- and low-field MRI systems, including key components such as RF coils and power amplifiers.
Latin America Magnetic Resonance Imaging Coils Market Trends
The increasing number of elderly people is driving the market for Latin America magnetic resonance imaging coils. Growing old enhances susceptibility to many chronic diseases, so there is increased demand for magnetic resonance imaging coils as a therapy.
Middle East & Africa Magnetic Resonance Imaging Coils Market Trends
Middle East & Africa magnetic resonance imaging coils market growth is fuelled by an increase in chronic disease prevalence, healthcare upgrading, and favorable health policies. Regions such as Saudi Arabia and the UAE are leading the way, with fast-changing healthcare facilities, increasing privatization, and enhanced health. As per a NCBI study, the Middle East & North Africa region had the most widespread global diabetes prevalence at around 12.2%, which is expected to increase by almost 96% by 2045. This is in line with an increasing need for high-resolution imaging for the early identification of diseases.
Saudi Arabian magnetic resonance imaging coilsmarket is predicted to grow during the forecast period. Increasing geriatric population, who are highly prone to chronic conditions, is one of the key drivers contributing to the growth of the market in Saudi Arabia. For example, according to the Saudi Arabian Monetary Agency (SAMA), the percentage of Saudi Arabian population aged over 60 years is expected to increase to 25% by 2050.
Key Magnetic Resonance Imaging Coils Company Insights
The competitive scenario in the magnetic resonance imaging coils market is highly competitive, with key players such as GE Healthcare, Esaote SPA, and others holding significant positions. The major companies are undertaking various organic and inorganic strategies such as new product development, collaborations, acquisitions, mergers, and regional expansion to serve the unmet needs of their customers.
Key Magnetic Resonance Imaging Coils Companies
The following are the leading companies in the magnetic resonance imaging coils market. These companies collectively hold the largest market share and dictate industry trends.
- GE Healthcare
- Koninklijke Philips N.V.
- Siemens Healthineers AG
- Canon Medical Systems Corporation
- Esaote S.p.A.
- MR Instruments, Inc. (MRIi)
- Rapid MR International, LLC.
- ScanMed, LLC.
- Noras MRI Products GmbH
- Nova Medical
Recent Developments
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In April 2025, GE HealthCare and Cincinnati Children's Hospital embarked on a strategic research collaboration to drive clinical and technological innovation in pediatric healthcare. The partnership is aimed at driving innovation in diverse imaging modalities, including magnetic resonance imaging (MRI), ultrasound, molecular imaging, and computed tomography (CT).
In November 2024, Canon Medical Systems USA introduced the Vantage Galan 3T /Supreme Edition, a cutting-edge MRI system constructed entirely with components manufactured by Canon, such as a real-time imaging platform and Japan-made precision magnet. The system improves image quality, simplifies workflow, and increases patient comfort.
In November 2023, Koninklijke Philips N.V. released the launch of the MR Smart Fit Coils for shoulder, cardiac, torso, and knee imaging. The coils are designed to accelerate the MR process and enhance patients' efficiency and overall experience.
Magnetic Resonance Imaging Coils Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2025 |
USD 9.8 billion |
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Revenue forecast in 2030 |
USD 14.7 billion |
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Growth rate |
CAGR of 8.4% from 2025 to 2030 |
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Actual data |
2018 - 2024 |
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Forecast period |
2025 - 2030 |
|
Report updated |
May 2025 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2025 to 2030 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, application, end use, and region |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
|
Country scope |
U.S.; Canada; Mexico; UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; Thailand; South Korea; Brazil; Argentina; South Africa; Saudi Arabia; UAE; Kuwait. |
|
Key companies profiled |
GE Healthcare; Koninklijke Philips N.V.; Siemens Healthineers AG; Canon Medical Systems Corporation; Esaote S.p.A.; MR Instruments, Inc.; Rapid MR International, LLC.; Scanmed, LLC., Noras MRI Products GmbH; Nova Medical. |
|
Customization scope |
Free report customization (equivalent to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
|
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
Global Magnetic Resonance Imaging Coils Market Report Segmentation
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Type Outlook (Revenue, USD Million, 2018 - 2030)
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Radiofrequency Coil
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Gradient Coil
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Application Outlook (Revenue, USD Million, 2018 - 2030)
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Neurology
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Cardiovascular
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Spine and Musculoskeletal
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Pediatric
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Breast
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Abdominal
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Others
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End Use Outlook (Revenue, USD Million, 2018 - 2030)
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Hospitals
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Diagnostic Imaging Centers
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Ambulatory Care Centers
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Others
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Regional Outlook (Revenue, USD Million, 2018 - 2030)
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North America
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U.S.
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Canada
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Mexico
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Europe
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UK
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Germany
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France
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Italy
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Spain
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Denmark
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Sweden
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Norway
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Asia Pacific
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Japan
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China
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India
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Australia
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South Korea
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Thailand
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Latin America
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Brazil
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Argentina
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Middle East & Africa
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South Africa
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Saudi Arabia
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UAE
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Kuwait
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