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The global silent scan technology market is witnessing significant growth owing to the increasing number of diagnostic procedures among patients resulting in rising R&D activities to develop and introduce technologically advanced magnetic resonance imaging machines integrated with silent scan technology in the market. Silent scan technology is designed to reduce MR scanner noise to near ambient sound levels, thereby improving the patient’s magnetic resonance exam experience.
Increasing MRI Procedures to Drive Market Growth
The increasing number of magnetic resonance procedures among the patient population is resulting in the growing focus of key layers towards the integration of technological advancements in MRI equipment globally, thereby supporting the growing adoption rate for these devices in the market.
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According to data published by the Organisation for Economic Co-operation and Development (OECD), it was reported that the number of MRI scans performed was 36.7 million in the U.S., 8.8 in France, 13.2 in Germany, and 14.2 in Japan.
High Costs Associated with Advanced MRI Equipment May Hinder Market Growth
There is a growing demand for advanced MRI equipment integrated with silent scan technology among healthcare providers. However, the rising cost of advanced magnetic resonance imaging equipment is likely to limit the demand for these products in the market.
Strategic Initiatives by Key Market Players to Provide Future Growth Prospects
The rising focus of key players toward acquisitions and mergers among the other players to strengthen their presence in the market, further resulting in the growing adoption and demand of advanced MRI systems globally.
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The report covers the following key insights:
Amongst type, the market is divided into 1.5T and more than 1.5T.
The 1.5T segment held a significant market share in 2023. The rising focus of key players toward the development and introduction of advanced MRI machines integrated with silent scan technology is likely to support the segmental growth.
Based on application, the market is fragmented into musculoskeletal, neurology, cardiology, body imaging, and others.
The musculoskeletal segment accounted for a substantial share of the market in 2023. The segmental growth is due to the rising prevalence of musculoskeletal conditions, resulting in a growing number of diagnostic procedures, thereby supporting the increasing adoption rate of these products in the market.
Amongst end user, the market is subdivided into hospitals & ASCs and diagnostic centers.
The hospital & ASCs segment accounted for a prominent market share in 2023. The growth is due to the increasing number of hospitals, further contributing to the rising adoption rate for magnetic resonance imaging (MRI) systems globally.
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Based on region, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest share of the global silent scan technology market in 2023. The growth is due to several factors, such as the increasing number of MRI procedures, the increasing number of key players operating in the market, developed healthcare infrastructure, among others.
Additionally, Europe is the second-largest market for silent scan technology. The increasing prevalence of acute and chronic disorders, such as musculoskeletal conditions, and others, is resulting in the rising demand for MRI machines globally. This, coupled with the growing focus of prominent players toward inorganic growth strategies, including acquisitions and mergers, among others, is further expected to support the market growth.
Asia Pacific is expected to grow at a considerable CAGR during the forecast period. The growth is owing to the rising number of prominent players offering advanced magnetic resonance imaging products in the market.
The global silent scan technology market is consolidated, with few players operating in the global silent scan technology market.
The report includes the profiles of the following key players:
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