The Silent Scan Technology Market size is forecast to reach $4.8 billion by 2026, growing at a CAGR of 5.8% during the forecast period 2021-2026. Silent scan technology consists of various types of imaging modalities such as diagnostic imaging and magnetic resonance imaging systems that are used to get visual representations of the interior of a body. It includes various types of modalities that are used for imaging the human body. It is used for treatment of various diseases and human body for diagnosis. It plays an important role in health improvement. Technical advancements in silent scan technologies, increasing incidences of chronic diseases, and increasing number of medical imaging procedures in ambulatory surgical centres are the major factor driving the growth of the market. Increasing healthcare spending and increasing awareness for early diagnosis of clinical disorders are set to further enhance the overall market developments of the Silent Scan Technology Market for the period 2021-2026.
Silent Scan Technology Market Segment Analysis – By Technology
Diagnostic Imaging held the largest share in the Silent Scan Technology Market in 2020 and is estimated to grow at a CAGR 6.4% during the forecast period 2021-2026. This is owing to the increasing incidences of associated diseases and increasing technological advancements. Silent Scan technology use less changes in gradient excitation levels and is directly related to noise levels. Increasing demand for accurate and early diagnosis, and increasing adoption of CT scanners by hospitals is also increasing the growth of the segment. Several patients prefer efficient diagnostic imaging services. Patients wait for shorter period of time and have access to treatments using the latest technologies and more personalized service along with some other complimentary services. Diagnostic Imaging are estimated to register the higher CAGR
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Silent Scan Technology Market Segment Analysis – By End Users
Hospitals held the largest share in the Silent Scan Technology Market in 2020 and is estimated to grow at a CAGR 5.5% during the forecast period 2021-2026. This is attributed to the increasing demand for advanced imaging systems and silent scan technologies. Hospitals provide dedicated space for silent scan technology owing to increasing competition and increasing demand for healthcare service. There is maximum availability of funds for investments in systems such as MRI. Ambulatory Surgical Centres are estimated to register the higher CAGR over the period 2021-2026.
Silent Scan Technology Market Segment Analysis – By Geography
North America dominated the Silent Scan Technology Market with a major share of 38.2% in 2020. This is attributed to the highly efficient diagnostic imaging services at low prices, availability of more personalized services using the latest technologies, and increasing technological advancements in silent scan technologies.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the favorable reimbursement scenario and high patient awareness. Increasing incidences of chronic diseases and increasing preventive diagnostic practices is also increasing the growth of the market in this region.
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Silent Scan Technology Market Drivers
Increasing Prevalence of Chronic Diseases
The increasing prevalence of cardiovascular diseases is increasing the growth of the Silent Scan Technology Market. Some of the major factor of chronic diseases includes unhealthy diet, usage of tobacco, and physical inactivity among others which raises the blood pressure and blood glucose causing overweight and obesity. Along with the rapid increasing population globally, the prevalence of age-associated diseases such as Alzheimer’s disease, Parkinson’s disease, arthritis, and dementia, along with cardiovascular diseases and cancer is also increasing. Thus, increasing the growth of the Silent Scan Technology Market during the forecast period 2021-2026.
Technological Advancements
Technological advancements is increasing the growth of the Silent Scan Technology Market. Technological advancements has enabled the manufacturers to develop imaging systems that contains an ingestible flow sensors inside it. Increasing technical advancements in imaging systems has provided an opportunity to bio manufacturers. The majority of advancements were oriented towards the manufacturing of aseptically filled systems. Thus, increasing the growth of the Silent Scan Technology Market during the forecast period 2021-2026.
Silent Scan Technology Market Challenges
High Competition and Stringent Regulations
Some of the factors that are set to impede the growth of the Silent Scan Technology Market are high competition and stringent regulations. High cost of silent scan technology is also set to hinder the growth of the market.
Silent Scan Technology Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Silent Scan Technology Market. In 2020, the Global Silent Scan Technology Market share is consolidated by the top ten players present in the market. The Silent Scan Technology Market, top 10 companies are GE Healthcare Toshiba Medical Systems, Hitachi Medical Systems America Inc, Philips Healthcare and Siemens Healthcare among others.
Key Takeaways
North America dominated the Silent Scan Technology Market in 2020 owing to the increasing cardiovascular diseases and easy accessibility of silent scan technologies. The Silent Scan Technology Market scope for different regions will be provided in the final report.
Increasing investment funds and increasing demand for early disease diagnosis is likely to aid the market growth of the Silent Scan Technology Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Silent Scan Technology Market report.
High competition and stringent regulations is poised to create the hurdles for the Silent Scan Technology Market.
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