Medical Imaging Market Size

The global medical imaging market size was valued at $35.80 billion in 2024 and is projected to reach $48.81 billion by 2030, growing at a CAGR of 5.3% during the forecast period.

Medical Imaging Market Overview 

Medical imaging refers to the techniques and processes used to create visual representations of the interior of a body for clinical analysis and medical intervention. It plays a crucial role in the diagnosis, treatment, and monitoring of various medical conditions. Medical imaging technologies encompass a range of modalities such as X-ray, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, nuclear medicine, and positron emission tomography (PET). Each modality offers unique insights into different aspects of the body's anatomy, physiology, and pathology. By producing detailed images of organs, tissues, and structures, medical imaging enables healthcare professionals to detect abnormalities, assess the extent of diseases, guide surgical interventions, monitor treatment progress, and evaluate overall patient health. Rapid advancements in imaging technology continue to enhance diagnostic accuracy, improve patient outcomes, and drive innovation in medical practice. 

Medical Imaging Market Dynamics 

• The medical imaging market is expected to witness significant growth in the future due to the increasing aging population, technological advancements in imaging equipment, and rising demand for advanced diagnostic imaging.

• Additionally, rising prevalence of chronic diseases and growing demand for non-invasive diagnostic procedures are the prominent factors driving the growth of the market.

• However, expensive costs of medical imaging equipment and lack of skilled professionals are restraining the market growth.

• On the contrary, adoption of machine learning in medical imaging analysis and expansion of imaging services in emerging markets are creating opportunities for market growth.

By Product, X-ray Devices Segment is poised to Emerge as the Largest Segment in the Medical Imaging Market

The x-ray devices segment is expected to become the leading segment in the medical imaging market during the forecast period owing to the increasing prevalence of chronic diseases like cancer, tuberculosis, and cardiac and respiratory ailments globally. These conditions necessitate frequent X-ray imaging for diagnosis and monitoring. For instance, a February 2023 collaboration between Mylab Discovery Solutions and Qure.ai aimed to integrate AI-powered chest X-ray analysis into Mylab's devices, facilitating early detection of tuberculosis. This exemplifies the industry's focus on leveraging technological advancements to enhance diagnostic capabilities. Additionally, the rising number of companies engaged in developing high-quality X-ray scanners further fuels the segment's positive trajectory.

By Geography, North America is expected to have the highest CAGR during the forecast period

The North America is experiencing strong growth rate during the forecast period due to its rapid technological advancements. This growth can be attributed to two key factors: a robust healthcare infrastructure and a growing demand for advanced diagnostics. Firstly, the region boasts multiple government-backed healthcare initiatives ensuring accessibility for citizens. This fosters a favorable environment for the adoption of innovative medical imaging technologies, allowing patients to benefit from the latest advancements. Secondly, North America's aging population experiences a higher prevalence of chronic diseases, leading to a surge in demand for advanced imaging techniques. These precise technologies enable early detection and effective management of chronic conditions, contributing to improved patient outcomes.

Key Target Audience: 

• Healthcare Providers

• Medical Imaging Department 

• Medical Imaging Equipment Manufacturers

• Academic and Research Institutions

List of the Key Players Profiled in the Report Includes:

• Koninklijke Philips N.V

• Mindray Medical International

• Canon Medical Systems Corporation

• Fujifilm Holdings Corporation

• Koning Corporation

• GE Healthcare

• PerkinElmer Inc.

• Konica Minolta, Inc

• Cubresa Inc.

• Samsung Medison Co. Ltd

• Siemens Healthineers

• Carestream Health Inc

Recent Developments: 

• In November 2023, FUJIFILM Healthcare Americas Corporation introduced multiple new medical systems at the 2023 Radiological Society of North America (RSNA). Among the showcased innovations are three digital radiography (DR) suites, two fluoroscopy systems, a 0.4T MRI system, and a 128-slice computed tomography (CT) system.

 Market Segmentation: 

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Product: 

• Computed Tomography

• Magnetic Resonance Imaging

• Nuclear Imaging

• Ultrasound

• X-ray Devices

Market by, End User: 

• Specialty Clinics

• Hospitals

• Diagnostic Imaging Centers

• Other End Users

Market by, Geography: 

The medical imaging market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis

• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis

• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis

• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis

• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:

The report oGlobal Medical Imaging Market: Industry Analysis, Opportunities and Forecast up to 2030o by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:

• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.

• Analysis of the market structure by identifying various segments and sub-segments of the market.

• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.

• Understand major player profiles in the market and analyze their business strategies.

• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.