silent scan technology market to increase at a steady compound annual growth rate (CAGR) of 5.4% through 2026

Silent scan technology has been in the news lately, owing to its steady adoption among end-users looking for noise-free MRI scanning procedures. As per Future Market Insight’s analysis, Silent Scan Technology has an installation base in the range of 1% to 3% of the total global MRI machines. The company forecasts the market to grow at an attractive CAGR during the 10 year forecast period of 2016 through 2026.

Based on end-user segmentation, the hospitals segment is estimated to account for more than 60% volume share of the overall market by 2016 end, which is expected to increase further by 2026 end. The global silent scan technology market volume, by the hospital segment is forecasted to grow at a CAGR of close to 5% for a period of 2016 through 2026.

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Amongst the Hospital segment, the Private hospital segment is projected to be the most prominent end user sub-segment over the forecast period. As per Future Market Insight’s analysis, the segment which accounts for more than half of Hospital segment, is anticipated to grow at more than 1% higher CAGR than the Public hospital segment, during the forecast period.

Owing to the large number of hospitals across the globe providing MRI services, and a significant number of these hospitals, as compared with the number of diagnostic imaging centres and ASCs, adopting silent scan technology, the hospital segment is forecast to remain the dominating end user segment in terms of volume through 2026. As a result, availability of MRI systems in hospitals is higher which represents a higher installed base of MRI systems for upgrades and updates of SST over other end user segments. Also, out of the three segments, hospitals mostly have the maximum availability of required funds for investment in a high costing capital equipment such as the MRI systems. The smallest market share segment which is ASCs are in a very nascent stage globally with a consolidation in U.S. and few European countries.

Germany is a rapidly growing silent scan technology market. Hospitals in Germany have adopted dual financing or reimbursement systems of Diagnosis-Related-Groups system for inpatient service and fee–for–service schedule system for outpatient. This urges end users such as hospitals in Germany to actively adopt newer MRI system technologies.1

Diagnostic imaging centres is the currently the second most remarkable segment in the market, while the end user segment is projected to register an above average CAGR during 2016-2026. Most patients prefer highly efficient diagnostic imaging services at affordable prices. At a diagnostic imaging centre, patients are required to wait for a shorter period of time, receive more personalized service and have access to treatments using the latest technologies along with some other complimentary services. These are some of the factors expected to be primarily contributing to high growth rates of the segment through 2026.

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The Ambulatory Surgical Centres segment which accounts for the smallest market share in the year 2015, is expected to observe a low Year-on-Year growth rate of about 1%.

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This release was published on openPR.