PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1667088
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1667088
Medical Imaging Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Medical Imaging Market reached USD 41.6 billion in 2024 and is expected to grow at a CAGR of 5.7% from 2025 to 2034. This growth is driven by the rising prevalence of chronic diseases, continuous advancements in imaging technologies, and increasing global healthcare expenditure. Chronic illnesses, including cardiovascular diseases, cancer, and neurological disorders, remain significant drivers of demand for advanced diagnostic solutions.
The need for non-invasive diagnostic procedures is a major factor fueling the adoption of medical imaging solutions. Technologies such as artificial intelligence-powered imaging tools are transforming the industry by improving image accuracy, enhancing diagnostic speed, and optimizing patient care. The growing aging population is also a critical contributor to market growth, as older adults are more susceptible to health conditions that necessitate medical imaging for diagnosis and treatment planning.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $41.6 Billion |
| Forecast Value | $67.6 Billion |
| CAGR | 5.7% |
By product type, X-ray devices hold a prominent position in the medical imaging market, accounting for a substantial share in 2024. The segment is expected to grow through the forecast period due to continuous technological innovation, including the emergence of digital and portable X-ray systems. Digital X-ray devices are rapidly replacing traditional analog systems due to their advantages, such as superior image quality, faster results, lower radiation exposure, and the ability to store and share images electronically. These factors drive their adoption in hospitals, clinics, and outpatient centers.
Based on end-use, hospitals dominate the market, driven by their comprehensive infrastructure, skilled personnel, and access to advanced imaging technologies. The rising number of patients requiring diagnostic procedures has led hospitals to increase their investments in state-of-the-art imaging systems to meet growing demand. Hospitals play a vital role in inpatient and outpatient diagnostics, supporting early detection and effective treatment, particularly among the aging global population.
North America is poised to witness significant growth, with a projected CAGR of 5.5% between 2025 and 2034. The region benefits from its advanced healthcare infrastructure, robust spending, and widespread adoption of cutting-edge medical imaging technologies. Government investments, coupled with private sector innovation, continue to create an environment conducive to growth, ensuring access to high-quality imaging equipment in hospitals, diagnostic centers, and research institutions.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market scope and definition
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates and calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
Chapter 2 Executive Summary
- 2.1 Industry 3600 synopsis
Chapter 3 Medical Imaging Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Incremental innovations and advancements in medical imaging technology
- 3.2.1.2 Rise in healthcare expenditure
- 3.2.1.3. Increasing disease burden along with rapidly growing geriatric population base
- 3.2.1.4. Emergence of artificial intelligence (AI) in radiology
- 3.2.1.5 Favorable government initiatives
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 High cost of imaging devices
- 3.2.2.2 Changes in reimbursement policies
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Technology landscape
- 3.5 Regulatory landscape
- 3.6 Future market trends
- 3.7 Porter's analysis
- 3.8 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Company matrix analysis
- 4.4 Competitive analysis of major market players
- 4.5 Competitive positioning matrix
- 4.6 Strategy dashboard
Chapter 5 Medical Imaging Market Size and Forecast, By Product (USD Million & Units)
- 5.1 Key trends
- 5.2 X-Ray devices
- 5.2.1 Digital
- 5.2.1.1 Direct radiography systems
- 5.2.1.2 Computed radiography systems
- 5.2.2 Analog
- 5.2.1 Digital
- 5.3 MRI
- 5.4 Ultrasound
- 5.4.1 2D ultrasound
- 5.4.2 3D ultrasound
- 5.4.3 Others
- 5.5 Computed tomography
- 5.6 Nuclear imaging
- 5.7 Mammography
Chapter 6 Medical Imaging Market Size and Forecast, By End Use (USD Million)
- 6.1 Key trends, by end-use
- 6.2 Hospitals
- 6.3 Diagnostic centers
- 6.4 Others
Chapter 7 Medical Imaging Market Size and Forecast, By Region (USD Million & Units)
- 7.1 Key trends, by region
- 7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
- 7.3 Europe
- 7.3.1 Germany
- 7.3.2 UK
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Switzerland
- 7.3.7 The Netherlands
- 7.3.8 Denmark
- 7.3.9 Poland
- 7.3.10 Sweden
- 7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 Japan
- 7.4.3 India
- 7.4.4 Australia
- 7.4.5 South Korea
- 7.4.6 New Zealand
- 7.4.7 Vietnam
- 7.4.8 Indonesia
- 7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Argentina
- 7.5.4 Colombia
- 7.5.5 Chile
- 7.6 Middle East & Africa
- 7.6.1 Saudi Arabia
- 7.6.2 South Africa
- 7.6.3 UAE
- 7.6.4 Turkey
Chapter 8 Company Profiles
- 8.1 Canon Medical Systems Corporation
- 8.2 Carestream Health Inc.
- 8.3 Esaote SpA
- 8.4 Fujifilm Holdings Corporation
- 8.5 GE Healthcare
- 8.6 Konica Minolta, Inc.
- 8.7 Hologic Inc.
- 8.8 Koninklijke Philips N.V.
- 8.9 Samsung Medison Co., Ltd.
- 8.10 Siemens Healthineers
