Diagnostic Imaging Market Size, Share, Growth Analysis, By Modality (X-Ray Imaging, Computed Tomography), By Application (Cardiology, Oncology), By End Users (Hospitals, Research Institutes), By Region - Industry Forecast 2024-2031

Global Diagnostic Imaging Market size was valued at USD 32.3 billion in 2022 and is poised to grow from USD 33.85 billion in 2023 to USD 49.26 billion by 2031, growing at a CAGR of 4.8% during the forecast period (2024-2031).

Regional firms such as Shimadzu and Mindray and Shimadzu are focussing on the development of specialized imaging technologies to level up their game in the market competition. On the other side, budding competitors such as Hologic and Fujifilm are making significant investments in quality improvement of their already existing products, thereby gaining a notable market share. The integration of artificial intelligence, portable imaging, telemedicine, and developments in 3D/4D imaging are key topics that have substantial growth potential in emerging countries. Leading companies in the diagnostic imaging industry worldwide provide a comprehensive variety of imaging services, including MRI, CT, and ultrasound. 'GE Healthcare ', 'Siemens Healthineers ', 'Koninklijke Philips N.V. ', 'Canon Medical Systems Corporation ', 'Hitachi Medical Corporation ', 'Fujifilm Holdings Corporation ', 'Carestream Health ', 'Hologic, Inc. ', 'Samsung Medison ', 'Shimadzu Corporation ', 'Agfa-Gevaert Group ', 'Mindray Medical International Limited ', 'Esaote S.p.A. ', 'Planmed Oy ', 'Analogic Corporation ', 'Neusoft Medical Systems Co., Ltd. ', 'CurveBeam ', 'Konica Minolta, Inc. ', 'United Imaging Healthcare Co., Ltd. ', 'Toshiba Medical Systems Corporation'

Rising investments in healthcare infrastructure and growing government initiatives are majorly driving the diagnostic imaging market. Several developed and developing nations are heavily investing in healthcare equipment improving diagnostic imaging services. Moreover, there are numerous policies that are aimed at enhancing healthcare quality and accessibility mostly comprise upgrading imaging facilities.

Advanced Visualization and 3D Imaging: The growing use of 3D printing and improved reconstruction methods are notably trending in the diagnostic imaging market. 3D printing is majorly used to develop anatomical models or designs from imaging data. This helps in planning of pre-surgeries and educate patients for the same. Moreover, advanced reconstruction methods improve details and clarity of 3D images in computed tomography and magnetic resonance imaging.

Geographically, North America dominated the market share in the previous years and is expected to lead over the forecast period owing to improved healthcare infrastructure, growing healthcare expenditure, and supportive regulatory norms. North America holds a well-developed healthcare infrastructure with easy access to cutting-edge imaging technologies. Major investments are seen in healthcare technologies and services that positively impact the adoption of modernized imaging modalities. The region is also a leading center for research and development, that considerably boosts improvements in imaging practices and technologies. Furthermore, favorable reimbursement policies and regulations streamline the demand for diagnostic imaging. The prominent players profiled in the region are Siemens Healthineers, GE Healthcare, Philips Healthcare, Canon Medical Systems USA, Carestream Health, Hologic, and more.