Medical Imaging Market Size, Share, Forecast, & Trends Analysis by Product (X-ray [Digital, Analog] MRI [Closed, Open] Ultrasound, CT, Nuclear Imaging [SPECT, PET]), Application (General, OB/GYN, Cardiology, Oncology), End User-Global Forecast to 2031

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Medical Imaging Market Size, Share, Forecast, & Trends Analysis by Product (X-ray [Digital, Analog] MRI [Closed, Open] Ultrasound, CT, Nuclear Imaging [SPECT, PET]), Application (General, OB/GYN, Cardiology, Oncology), End User - Global Forecast to 2031

The medical imaging market is projected to reach $64.49 billion by 2031, at a CAGR of 5.3% from 2024 to 2031.

Following a comprehensive primary and secondary study and an in-depth analysis of the market scenario, this report provides the key drivers, constraints, challenges, and opportunities of the industry. This market is driven by increasing investments and funding by government bodies for the modernization of imaging facilities, growth in the number of diagnostic imaging centers, increasing preference for minimally invasive treatments, rising prevalence of orthopedic injuries and musculoskeletal disorders, technological advancements leading to a higher preference for x-ray systems, and the increasing number of chronic diseases.

Furthermore, the development of low-cost imaging systems, increasing integration of artificial intelligence (AI) into digital X-ray systems, and growing medical systems in emerging countries provide a significant growth opportunity for this market. However, the high costs of diagnostic imaging systems, unfavorable healthcare reforms in the U.S., and shortage of helium (an essential component of MRI) may restrain the growth of this market. Additionally, the increasing adoption of refurbished diagnostic imaging systems and the lack of skilled professionals pose a major challenge for the players operating in this market.

Among types, in 2024, the X-ray imaging systems segment is expected to account for the largest share of 31% of the medical imaging market. The large share of the segment is attributed to the rising volume of imaging procedures and cost-effectiveness as compared to other imaging techniques. The key market players are launching technologically advanced systems to increase the efficiency of imaging. For instance, in January 2024, Carestream Health, Inc. (U.S.) launched DXR-Excel Plus, which is an x-ray system that has features designed to simplify workflow and enhance productivity.

Among applications, in 2024, the x-ray imaging applications segment is expected to account for the largest share of the medical imaging market. X-ray imaging systems are extensively used for the diagnosis, treatment planning, and monitoring of various conditions, including chronic and traumatic conditions, and are used for various applications such as dental, mammography, and general radiography, among others. The large share of the segment is attributed to factors such as rising incidence of cancer, growing dental disease burden, and wide accessibility to X-ray imaging for multiple applications.

Among end users, in 2024, the hospitals & clinics segment is expected to account for the largest share of the medical imaging market. The high prevalence of chronic and orthopedic diseases, the rising number of hospitals and clinics, and the increasing number of injuries are positively supporting the adoption of X-ray imaging systems in hospitals and clinics.

An in-depth analysis of the geographical scenario of the medical imaging market provides detailed qualitative and quantitative insights for the five major geographies (North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America), along with the coverage of major countries in each region. In 2024, North America is expected to account for the largest share of 37.6% of the medical imaging market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The largest share of the segment is primarily due to the high burden of chronic diseases due to the growing geriatric population, high adoption of teleradiology, technological advancements in medical imaging, and the growing preference for advanced imaging systems over conventional systems. Continuous advancements in medical imaging technologies have contributed to the market's largest share in North America.

The key players operating in the medical imaging market are Carestream Health, Inc. (U.S.), Esaote S.P.A. (Italy), FUJIFILM Holdings Corporation (Japan), GE HealthCare (U.S.), Hitachi Ltd. (Japan), Koninklijke Philips N.V. (Netherlands), Siemens AG (Germany), Shimadzu Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), and Canon Medical Systems Corporation (Japan).

Scope of the Report:

Medical Imaging Market-by Product

X-ray Imaging Systems
- X-ray Imaging Systems Market, by Technology
Digital Imaging
Direct Radiography
Computed Radiography
Analog Imaging
- X-ray Imaging Systems Market, by Portability
Stationary
Floor-to-Ceiling Mounted Systems
Ceiling Mounted Systems
Portable
Mobile X-ray Systems
Handheld X-ray Systems
Magnetic Resonance Imaging (MRI) Systems
- MRI Systems Market, by Architecture
Closed MRI Systems
Open MRI Systems
Standard Bore MRI
Wide-Bore MRI
- MRI Systems Market, by Field Strength
High- and Very High-Field MRI Systems (1.5T to 6T)
Low- to Mild-Field MRI Systems (<1.5T)
Ultra-High-Field MRI Systems (7T and Above)
Ultrasound Devices
- Ultrasound Devices Market, by Portability
Trolley/Cart-Based Ultrasound Devices
Point-of-Care (PoC) Ultrasound Devices
Machines
Transducers
Handheld Ultrasound Devices
- Ultrasound Devices Market, by Display
Color Ultrasound
Black & White (B/W) Ultrasound
- Ultrasound Devices Market, by Technology
2D Imaging Systems
3D and 4D Imaging Systems
Doppler Imaging
Color Doppler Imaging
Continuous Doppler Imaging
Pulse Wave Doppler Imaging
Computed Tomography (CT) Scanners
- Computed Tomography (CT) Scanners, by Slice Type
High-Slice CT Scanners
Mid-Slice CT Scanners
Low-Slice CT Scanners
- Computed Tomography (CT) Scanners, by Portability
Stationary CT Scanners
Portable CT Scanners
Nuclear Imaging Systems
- SPECT Systems, by Type
Hybrid SPECT Systems
Standalone SPECT Systems
- PET Systems
- Software & Services

Medical Imaging Market-by Application

X-ray Imaging Applications
- General Radiography
- Dental
- Mammography
- Other Applications

(Other applications include orthopedic, breast imaging, and neuroimaging)

MRI System Applications
- Brain and Neurological MRI
- Spine and Musculoskeletal MRI
- Vascular MRI
- Pelvic and Abdominal MRI
- Breast MRI
- Cardiac MRI
- Other Applications

(Other applications include pediatric and whole-body imaging)

Ultrasound Imaging Applications
- Radiology/General Imaging
- Obstetrics/Gynecology (OB/GYN)
- Cardiology
- Vascular
- Urology
- Other Applications

(Other applications include anesthesiology, image guidance, and some abdominal applications)

CT Imaging Applications
- Cardiology
- Oncology
- Neurology
- Other Applications

(Other applications include orthopedic, general, and dental)

Nuclear Imaging System Applications
- Cardiology
- Neurology
- Other Applications

(Other applications include oncology, urology, orthopedics, and endocrinology)

Medical Imaging Market-by End User

Hospitals & Clinics
Diagnostic Imaging Centers
Other End Users

(Other end users include ambulatory care centers, academic & research institutes, and homecare settings)

Medical Imaging Market-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Netherlands
- Switzerland
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa

Product Code: MRHC - 104249

1. Introduction

1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency and Limitations
1.4. Key Stakeholders

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection and Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
- 2.3.3. Market Share Analysis
2.4. Assumption for the Study

3. Executive Summary

4. Market Insights

4.1. Overview
4.2. Drivers
- 4.2.1. Increasing Investments and Fundings by Government Bodies for Modernization of Imaging Facilities
- 4.2.2. Growth in the Number of Diagnostic Imaging Centers
- 4.2.3. Increasing Preference for Minimally Invasive Treatments
- 4.2.4. Rising Prevalence of Orthopedic Injuries and Musculoskeletal Disorders
- 4.2.5. Technological Advancements Leading to a Higher Preference for X-ray Systems
- 4.2.6. Increasing Number of Chronic Diseases
4.3. Restraints
- 4.3.1. High Costs of Diagnostic Imaging Systems
- 4.3.2. Unfavorable Healthcare Reforms in the U.S.
- 4.3.3. Shortage of Helium (an essential component of MRI)
4.4. Opportunities
- 4.4.1. Development of Low-cost Imaging Systems
- 4.4.2. Increasing Integration of Artificial Intelligence (AI) into Digital X-ray Systems
- 4.4.3. Growing Medical Systems in Emerging Countries
4.5. Challenges
- 4.5.1. Increasing Adoption of Refurbished Diagnostic Imaging Systems
- 4.5.2. Lack of Skilled Professionals
4.6. Technology Trends/Market Trends
- 4.6.1. Increasing Adoption of Teleradiology
- 4.6.2. Incorporation of AI Into Medical Diagnosis
4.7. Regulatory Scenario
4.8. Pricing Analysis
4.9. Porter's Five Forces Analysis

5. Medical Imaging Market-by Type

5.1. Overview
5.2. X-ray Imaging Systems
- 5.2.1. X-ray Imaging Systems Market, by Technology
  - 5.2.1.1. Digital Imaging
    - 5.2.1.1.1. Direct Radiography
    - 5.2.1.1.2. Computed Radiography
  - 5.2.1.2. Analog Imaging
- 5.2.2. X-ray Imaging Systems Market, by Portability
  - 5.2.2.1. Stationary
    - 5.2.2.1.1. Floor-to-Ceiling Mounted Systems
    - 5.2.2.1.2. Ceiling Mounted Systems
  - 5.2.2.2. Portable
    - 5.2.2.2.1. Mobile X-ray Systems
    - 5.2.2.2.2. Handheld X-ray Systems
5.3. Magnetic Resonance Imaging (MRI) Systems
- 5.3.1. MRI Systems Market, by Architecture
  - 5.3.1.1. Closed MRI Systems
  - 5.3.1.2. Open MRI Systems
  - 5.3.1.3. Standard Bore MRI
  - 5.3.1.4. Wide-Bore MRI
- 5.3.2. MRI Systems Market, by Field Strength
  - 5.3.2.1. High- and Very High-field MRI Systems (1.5T to 6T)
  - 5.3.2.2. Low- to Mild-field MRI Systems (<1.5T)
  - 5.3.2.3. Ultra-High-field MRI Systems (7T and Above)
5.4. Ultrasound Devices
- 5.4.1. Ultrasound Devices Market, by Portability
  - 5.4.1.1. Trolley/Cart-based Ultrasound Devices
  - 5.4.1.2. Point-of-Care (PoC) Ultrasound Devices
    - 5.4.1.2.1. Machines
    - 5.4.1.2.2. Transducers
  - 5.4.1.3. Handheld Ultrasound Devices
- 5.4.2. Ultrasound Devices Market, by Display
  - 5.4.2.1. Color Ultrasound
  - 5.4.2.2. Black & White (B/W) Ultrasound
- 5.4.3. Ultrasound Devices Market, by Technology
  - 5.4.3.1. 2D Imaging Systems
  - 5.4.3.2. 3D and 4D Imaging Systems
  - 5.4.3.3. Doppler Imaging
    - 5.4.3.3.1. Color Doppler Imaging
    - 5.4.3.3.2. Continuous Doppler Imaging
    - 5.4.3.3.3. Pulse Wave Doppler Imaging
5.5. Computed Tomography (CT) Scanners
- 5.5.1. Computed Tomography (CT) Scanners, by Slice Type
  - 5.5.1.1. High-Slice CT Scanners
  - 5.5.1.2. Mid-Slice CT Scanners
  - 5.5.1.3. Low-Slice CT Scanners
- 5.5.2. Computed Tomography (CT) Scanners, by Portability
  - 5.5.2.1. Stationary CT Scanners
  - 5.5.2.2. Portable CT Scanners
5.6. Nuclear Imaging Systems
- 5.6.1. SPECT Systems, by Type
  - 5.6.1.1. Hybrid SPECT Systems
  - 5.6.1.2. Standalone SPECT Systems
- 5.6.2. PET Systems
5.7. Software & Services

6. Medical Imaging Market-by Application

6.1. Overview
6.2. X-ray Imaging Applications
- 6.2.1. General Radiography
- 6.2.2. Dental
- 6.2.3. Mammography
- 6.2.4. Other Applications
6.3. MRI System Applications
- 6.3.1. Brain and Neurological MRI
- 6.3.2. Spine and Musculoskeletal MRI
- 6.3.3. Vascular MRI
- 6.3.4. Pelvic and Abdominal MRI
- 6.3.5. Breast MRI
- 6.3.6. Cardiac MRI
- 6.3.7. Other Applications
6.4. Ultrasound Devices
- 6.4.1. Radiology/General Imaging
- 6.4.2. Obstetrics/Gynecology (OB/GYN)
- 6.4.3. Cardiology
- 6.4.4. Vascular
- 6.4.5. Urology
- 6.4.6. Other Applications
6.5. CT Scanners
- 6.5.1. Cardiology
- 6.5.2. Oncology
- 6.5.3. Neurology
- 6.5.4. Other Applications
6.6. Nuclear Imaging Systems
- 6.6.1. Cardiology
- 6.6.2. Oncology
- 6.6.3. Neurology
- 6.6.4. Other Applications

7. Medical Imaging Market-by End User

7.1. Overview
7.2. Hospitals & Clinics
7.3. Diagnostic Imaging Centers
7.4. Other End Users

8. Medical Imaging Market-by Geography

8.1. Overview
8.2. North America
- 8.2.1. U.S.
- 8.2.2. Canada
8.3. Europe
- 8.3.1. Germany
- 8.3.2. France
- 8.3.3. U.K.
- 8.3.4. Italy
- 8.3.5. Spain
- 8.3.6. Netherlands
- 8.3.7. Switzerland
- 8.3.8. Denmark
- 8.3.9. Sweden
- 8.3.10. Rest of Europe
8.4. Asia-Pacific
- 8.4.1. Japan
- 8.4.2. China
- 8.4.3. India
- 8.4.4. South Korea
- 8.4.5. Rest of Asia Pacific
8.5. Latin America
- 8.5.1. Brazil
- 8.5.2. Mexico
- 8.5.3. Rest of Latin America
8.6. Middle East & Africa

9. Competitive Analysis

9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Competitive Dashboard
- 9.4.1. Market Leaders
- 9.4.2. Market Differentiators
- 9.4.3. Vanguards
- 9.4.4. Emerging Companies
9.5. Market Share Analysis/ Market Ranking, by Key Players (2023)

10. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)

10.1. Carestream Health, Inc.
10.2. Esaote S.P.A
10.3. Fujifilm Holdings Corporation
10.4. GE Healthcare
10.5. Hitachi Ltd.
10.6. Koninklijke Philips N.V.
10.7. Siemens AG
10.8. Shimadzu Corporation
10.9. Samsung Medison Co., Ltd.
10.10. Canon Medical Systems Corporation
10.11. Other Companies

(Note: SWOT analysis for the top 5 players will be provided)

11. Appendix

11.1. Available Customization
11.2. Related Reports