Medical Imaging Market
Report ID: SQMIG35D2324
Report ID: SQMIG35D2324
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Report ID:
SQMIG35D2324 |
Region:
Global |
Published Date: June, 2025
Pages:
199
|Tables:
152
|Figures:
77
Global Medical Imaging Market size was valued at USD 42.6 Billion in 2024 and is poised to grow from USD 45.03 Billion in 2025 to USD 70.16 Billion by 2033, growing at a CAGR of 5.7% in the forecast period (2026–2033).
The rising prevalence of chronic diseases such as cardiovascular and neurologic disorders, as well as the realignment of healthcare systems, have resulted in a greater emphasis on early detection. The Centers for Disease Control and Prevention (CDC) estimates that coronary artery disease (CAD) affects 18.2 million adults in the United States alone each year. Diagnostic imaging is the use of various imaging modalities to obtain visual representations of a body's interior for diagnostic and therapeutic purposes. This includes a variety of modalities used to capture images of the human body for disease diagnosis and treatment, and thus plays an important role in improving overall health. According to a World Health Organization (WHO) report, approximately 3.6 billion diagnostic procedures are performed yearly. A total of 350 million examinations are performed on pediatric patients.
This, along with the growing emphasis of government organizations on early disease diagnosis to control healthcare costs, influences the number of patients worldwide who undergo X-ray, magnetic resonance, and computed tomography scans. New approaches to nuclear imaging, portable and wearable scanners, and other innovations contribute to the growth of the medical imaging industry. Mobile imaging equipment, for example, aids in the diagnosis and monitoring of elderly patients without the need for an in-person visit to the hospital. Brain activity can be detected using a mobile magnetoencephalography (MEG) scanner. This can improve the accuracy of diagnosis of conditions such as epileptic seizures by detecting the exact location in the brain that is causing the seizure. Such advancements in medical imaging technology make medical imaging more patient-friendly and increase its use in healthcare facilities, thereby promoting global market growth.
Artificial intelligence is changing the medical imaging sector with the help of diagnostic accuracy and operational efficiency. AI algorithms, specifically radiology are used in Computer aided image interpretation and normally identification and workflow prioritization. This helps in enabling the detection of diseases earlier which helps in reducing human error and increases diagnosis times. Deep learning technology performs very well in detecting complex diseases such as tumors, fractures, and cardiovascular anomalies. With hospitals and diagnosis clinics making every effort to manage increasing workloads with few radiology staff, the application of AI is emerging as a critical determinant of patient outcomes and global uptake of high-end imaging equipment.
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The global medical imaging market is segmented based on the technology, application, end user and region. Based on the technology, the market is segmented into X-ray Devices (Radiography, Fluoroscopy and Mammography), Ultrasound (Handheld, Compact and Cart/Trolley), Computed Tomography (High-End Slice CT, Mid -End Slice CT, Low -End Slice CT and Cone Beam CT), Magnetic Resonance Imaging (Closed and Open), Nuclear Imaging (SPECT and PET). Based on modality, the market is segmented into Stationary, and Portable. Based on patient type, the market is segmented into Adults, and Pediatric. Based on application, the market is segmented into Cardiology, Oncology, Neurology, Orthopaedics, Gastroenterology, Gynaecology, and Others. Based on end user, the market is segmented into hospitals, diagnostic imaging centres, and others. Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Magnetic Resonance Imaging or MRI is the dominating segment based on its technology. MRI offers distinct ability to offer detailed and precise images of soft tissues, organs and other internal body structures. Moreover, the rising chronic diseases, aging population, and increasing demand for early and accurate diagnosis act as drivers for the wide adoption of MRI. For instance, in 2023, according to the National Center for Health Statistics, almost 1,958,310 new cancer cases and 609,820 cancer deaths are estimated to occur in the U.S. In addition, the growing demand for quick and effective diagnostic procedures is expected to contribute to the adoption of MRI machines. Various countries are installing these machines. Thus, further consolidating the dominance that this platform holds within the medical imaging market.
CT or Computed Tomography is the fastest growing segment. This segment is witnessing faster growth in the technology sector due to ongoing advancements in technology. These advancements have led to improved imaging quality, faster scanning times and reduced radiation exposure which has made CT a faster growing diagnostic tool for various medical condition. Furthermore, the increasing rate of chronic diseases with an aging population and more focus on preventive health care does provide a continuously growing demand for CT scans. Based on our analysis we found that, more than 70 million CT scans are performed in the US. Whereas 7.1 million scans are done in the UK every year with an annual increasing rate of 10%. Therefore, signifying the potential growth of CT in the overall medical imaging market. Hence, strengthening its position as a fast-growing segment in technology.
Orthopedic imaging is the dominant segment within the medical imaging market. This has largely been attributed to the rising incidence of orthopedic diseases, particularly in the elderly. Since orthopedic conditions, like arthritis, osteoporosis, and those involving sports injuries, require accurate imaging in diagnosis and planning of treatment programs, not to mention monitoring, imaging modalities like X-ray, CT, MRI, and ultrasound provide orthopedic surgeons and other health professionals with essential visual information in reaching decisions on how to treat patients. Rising minimally invasive procedures and joint replacement surgeries also boosted demand for advanced orthopedic imaging technology.
Is Cardiology Imaging Poised to Lead the Next Wave of Growth in the Medical Imaging Market?
Cardiology is experiencing rapid growth as a segment within the medical imaging market due to rising prevalence of cardiovascular diseases globally. The growing occurrence of cardiovascular diseases have created a significant demand for accurate and timely diagnostic tools. Based on our analysis we found that, about 2% of deaths from cardiovascular diseases are related to rheumatic heart disease globally. This has increased the focus on preventive care This is contributing to the emphasis on preventive care and the demand for periodic cardiac screening is fueling the use of cardiac imaging modalities. Further, the use of AI and machine learning for cardiac image analysis is improving diagnostic accuracy and efficiency, further fueling this segment's growth.
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North America leads the world Medical Imaging Market in terms of market share. This is predominantly due to the superior growth of healthcare infrastructure in the region, high healthcare expenditure, and presence of big industry players such as GE Healthcare, Siemens Healthineers, and Philips. The United States, in turn, has high penetration of advanced imaging technology such as MRI, CT scans, and ultrasound machines. The increasing rate of chronic diseases, combined with the aging population, has fueled the demand for diagnostic imaging procedures. The favorable reimbursement policies and continued technological advancements also drive the market growth. For instance, the use of artificial intelligence (AI) in imaging machines has enhanced accuracy and efficiency of diagnosis further fueling market growth in the region.
US Medical Imaging Market
In the North American medical imaging market, the United States holds the largest share due to its advanced healthcare infrastructure, substantial healthcare expenditure, and widespread adoption of advanced imaging technologies. It has major industry players that are contributing to its dominant position.
Canada Medical Imaging Market
Canada is the second-largest market in North America for medical imaging. The growth of Canada's market is aided by a publicly funded health care system, making medical imaging available to a large proportion of the population. Government initiatives are also promoting growth.
Asia Pacific is the most rapidly expanding part of the global Medical Imaging Market. The reason for this fast expansion lies in a number of factors, some of which are rising healthcare investments, expanding awareness regarding early detection of disease, and heightened chronic diseases burden. China, India, and Japan are among the nations that are witnessing major developments in the healthcare infrastructure, hence embracing advanced imaging technologies. Government policies designed to enhance healthcare access and quality, and continued investments in digital healthcare technologies, also are driving market growth. In addition, the growing population of middle-class individuals and their heightening interest in health and wellness are fueling demand for diagnostic imaging services in the region.
China Medical Imaging Market
China has the largest share of the medical imaging market in the Asia-Pacific region. Three key drivers leading to this dominance are an aged population, the number of chronic diseases and a commitment to investments in healthcare infrastructure.
Japan Medical Imaging Market
Japan is the second largest market in the area. With Japan's proactive health care system and an aging population which creates need and demand for medical imaging.
India Medical Imaging Market
India is the third-largest market within the Asia-Pacific market. The middle class is broadening, the population awareness in health is increasing, and the government is invested in projects to improve the access of medicine and healthcare can propel growth in the medical imaging sector.
Europe is the third-largest region in Medical Imaging Market around the world. High research and development intensity, unprecedented imaging modality technology advancements, and advanced manufacturing processes define the regional market. The regional market is dominated by Germany, the United Kingdom, and France with the current healthcare infrastructure and increasing geriatric populations that require advanced diagnostic solutions.
Germany Medical Imaging Market
Germany has the highest share in the Medical Imaging Market. The advanced healthcare infrastructure is contributing towards its dominance.
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Is Widening Healthcare Infrastructure Fueling the Reach of Diagnostic Imaging?
Is the Rising Prevalence of Chronic Diseases Accelerating Demand for Imaging Solutions?
Is Limited Funding and the Rise of Refurbished Equipment Undermining Innovation in Medical Imaging?
Are High Equipment and Maintenance Costs Hindering the Global Adoption of Advanced Medical Imaging?
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Some of the major factors attributed to market dominance include a diverse portfolio of medical imaging equipment, as well as a strong and widespread distribution network globally. Siemens Healthineers, Canon Medical System Corporation, Samsung Medison, Koninklijke Philips, Carestream Health, Fujifilm, Esaote, GE Healthcare, Hologic, and Konica Minolta are among the key market players in the medical imaging industry. These players are heavily investing in R&D activities, allowing them to innovate and capitalise on these products, allowing them to maximise revenue in the industry.
The development of portable and point-of-care imaging technology is leveling the playing field for accessing diagnostic technology, particularly rural and underserved populations. Small ultrasound machines, hand-held X-ray units, and portable MRI units are powering real-time diagnosis in clinics, ambulances, and even home healthcare. Quick configuration, reduced costs, and simple integration with telemedicine platforms make them best suited for resource-constrained settings. Their increased application in emergency medicine, remote monitoring, and care on the battlefield is broadening the market beyond the traditional hospital environment. The trend aligns with global healthcare equity and creates new revenue opportunities for medical imaging companies.
The hybrid imaging modalities like PET/CT, PET/MRI, and SPECT/CT are acquiring tremendous momentum on the strength of their potential for the combination of anatomical and functional imaging. These modalities enable better disease localization, better oncology staging and treatment planning, and better cardiovascular and neurological disorder assessment. The clinicians are given complete information in a single scan, and the requirement for multiple tests is reduced along with increased patient comfort. With the advent of personalized medicine, the role of hybrid imaging in delivering personalized treatment protocols becomes increasingly significant. Increasing innovation and increasing clinical acceptance will transform hybrid imaging into a leading growth segment in the medical imaging market.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global medical imaging market analysis, rising healthcare spending in both developed and developing countries drives up demand for medical imaging. Over the forecast period, all of these factors will drive the medical imaging industry. Furthermore, rising healthcare infrastructure and the adoption of innovative medical imaging modalities are expected to drive market growth in the coming years, as are increased R&D activities. Medical imaging techniques are widely used by healthcare specialties to diagnose disease conditions and guide treatment. Newer innovations and technological advancements in the field of medical imaging have contributed to the market's growth. Furthermore, ai in medical imaging market and treatment by allowing for the early and accurate detection of disease conditions. The global medical imaging market research report offers a detailed analysis of the market's opportunities and focuses on key aspects such as leading companies, product types, and leading applications of the product. Aside from that, the global report provides insights into ai medical imaging market size, market growth trends as well as key industry developments. In addition to the aforementioned factors, the report includes several others that have contributed to the market's growth and advancement in recent years.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 42.6 Billion |
| Market size value in 2033 | USD 70.16 Billion |
| Growth Rate | 5.7% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Medical Imaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Imaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Imaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Imaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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