Medical Imaging Market Trends

ID: MRFR/MED/1463-CR

200 Pages

Rahul Gotadki

April 2025

Medical Imaging Market Research Report By Imaging Technique (MRI, CT Scan, Ultrasound, X-Ray, Nuclear Imaging), By End Use (Hospitals, Diagnostic Imaging Centers, Research Institutes, Outpatient Facilities), By Modality (Radiography, Tomography, Magnetic Resonance Imaging, Ultrasonography), By Product Type (Consumables, Equipment, Software) and By Regional (North America, Europe, South America,...

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Market Trends

Key Emerging Trends in the Medical Imaging Market

There are notable current trends in the medical imaging market reflecting technology's transformative impact on diagnostic practices within healthcare. One outstanding trend is the incorporation of artificial intelligence (AI) into medical imaging processes. As such, AI algorithms increasingly assist physicians with interpreting complicated images, leading to improved diagnoses with greater accuracy and offering quick diagnoses where necessary, thus saving time. Another trend is towards a data-driven AI approach, which enhances technological advancement within radiology. Additionally, this transition shows an increasing need for portable handheld devices used for purposes of medics' operations, contributing to change in the industry. Portable imaging devices enable high flexibility when treating patients, allowing physicians to perform diagnostic procedures at the bedside. This particularly relates to instances where cases require instant decision-making, hence promoting faster patient management. Moreover, there is a rise observed within 3D printing technology being applied across various fields, including medicine, which impacts the Medical Imaging sector too. Besides aiding surgical planning tools, medical education and patient communication can be facilitated by detailed anatomical models created from such data. This means that personalized medicine based on the unique anatomy of each patient has become increasingly possible due to the growing recognition of 3D printing in medicine. Finally, there is a growing trend towards low-dose imaging while maintaining high-quality images within medical imaging procedures. Consequently, manufacturers are focusing on developing imaging technologies that provide good image qualities but use less radiation for diagnosis. This addresses concerns about radiation exposure and health risks as well as fosters a culture of safety among patients and healthcare providers in this field. Furthermore, value-based care and outcome-based solutions are transforming the medical imaging market. Healthcare systems worldwide are shifting from pay-for-service models to payment systems based on value, which emphasize delivering high-quality and cost-effective healthcare services. As imaging modalities continue to evolve towards newer and multimodal systems, Hybrid imaging technologies such as positron emission tomography (PET) combined with computed tomography (CT) or magnetic resonance Imaging (MRI) along with Positron Emission Tomography (PET- MRI) have taken center stage owing to its comprehensive nature. Thus, this underscores that in terms of medical imaging, holistic approaches must be applied so as to understand the diverse diagnostic aspects needed, which could help physicians make better-informed decisions for their patients.

Market Highlights

Author

Rahul Gotadki

Assistant Manager

He holds an experience of about 7+ years in Market Research and Business Consulting, working under the spectrum of Life Sciences and Healthcare domains. Rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. His expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. In addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives

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FAQs

What is the expected market size of the Global Medical Imaging Market in 2024?

The Medical Imaging Devices Market is expected to be valued at approximately 40.13 USD billion in 2024.

What is the projected market size in 2035 for the Global Medical Imaging Market?

By 2035, the Global Medical Imaging Devices Market is projected to reach a value of about 66.0 USD billion.

What is the expected CAGR for the Global Medical Imaging Market from 2025 to 2035?

The expected compound annual growth rate (CAGR) for the Medical Imaging Devices Market from 2025 to 2035 is 4.63%.

Which region is anticipated to have the largest market share in 2024?

In 2024, North America is anticipated to hold the largest market share, valued at approximately 15.25 USD billion.

What market size is expected for Europe in 2035 within the Global Medical Imaging Market?

By 2035, the market size for Europe is expected to reach about 20.0 USD billion within the Medical Imaging Devices Market.

Which imaging technique will contribute the most to the market size in 2024?

In 2024, the MRI segment will contribute the most to the market size, valued at 12.5 USD billion.

Who are the key players in the Global Medical Imaging Market?

Key players in the Global Medical Imaging Devices Market include GE Healthcare, Siemens Healthineers, and Philips Healthcare, among others.

What is the market value for Ultrasound imaging in 2035?

The market value for the Ultrasound imaging segment is expected to reach approximately 13.5 USD billion by 2035.

How is the market for Nuclear Imaging expected to grow by 2035?

The Medical Imaging Global Market is projected to grow to about 6.5 USD billion by 2035.

What challenges might impact the growth of the Global Medical Imaging Market?

Potential challenges to the Global Medical Imaging Devices Market include regulatory hurdles and increasing competition among providers.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per Market Research Future Analysis, the Medical Imaging Market was valued at 38.35 USD Billion in 2023 and is projected to grow to 66 USD Billion by 2035, with a CAGR of 4.63% from 2025 to 2035. The market is driven by technological advancements, increasing prevalence of chronic diseases, and government initiatives to enhance healthcare infrastructure. Key imaging modalities such as MRI, CT, and Ultrasound are leading the market due to their critical roles in diagnostics and treatment planning. The integration of AI and portable imaging devices is transforming the landscape, catering to the growing demand for personalized medicine and efficient diagnostic tools.

Key Market Trends & Highlights

The Medical Imaging Market is experiencing significant growth driven by several key trends.

MRI segment projected to grow from 12.5 USD Billion in 2024 to 20.5 USD Billion by 2035.
CT segment expected to increase from 10.0 USD Billion in 2024 to 16.0 USD Billion by 2035.
Ultrasound market anticipated to rise from 9.0 USD Billion in 2024 to 13.5 USD Billion by 2035.
North America leading the market with a valuation of 15.25 USD Billion in 2024, growing to 25.0 USD Billion by 2035.

Medical Imaging Market

CAGR

4.63%

Market Size & Forecast

2023 Market Size	USD 38.35 Billion
2024 Market Size	USD 40.13 Billion
2035 Market Size	USD 66 Billion
CAGR (2025-2035)	4.63%
Largest Regional Market Share in 2024	North America.

Major Players

AgfaGevaert, Esaote, Hologic, Samsung Medison, Carestream Health, Canon Medical Systems, Mindray, GE Healthcare, Toshiba Medical Systems, Fujifilm Holdings, Hitachi Medical Corporation, Medtronic, Philips Healthcare, Siemens Healthineers, Konica Minolta.

Market Trends

Driven by technical developments, regulatory backing, and growing healthcare needs, the Global Medical Imaging Market is undergoing notable changes. Rising healthcare demands and technological developments are driving the Global Medical Imaging Market significantly; a main market driver is the growing incidence of chronic illnesses, which has heightened the need for efficient diagnostic instruments. How diagnostics are done is being changed by the speeding up of technology adoption, including artificial intelligence and machine learning in imaging procedures, thereby improving efficiency and accuracy.

Government projects all around the globe to strengthen healthcare infrastructure and provide access to good imaging services are also supporting market expansion.

Recent years have witnessed a significant trend in the integration of portable imaging devices, which allows healthcare practitioners to perform imaging services in many environments, including distant ones. This fits with a general trend toward individualized medicine, in which imaging is vital for customizing therapies to suit particular requirements. The development of sophisticated imaging modalities and software solutions improving imaging analysis and interpretation offers possibilities. Moreover, especially in underdeveloped countries where there is a great need for available diagnostic options, the need for point-of-care imaging equipment is growing.

The emphasis on enhancing patient outcomes by means of thorough and sophisticated imaging technologies remains frontmost as healthcare evolves worldwide. The market is also being shaped by hybrid imaging modalities combining many imaging technologies. Driven by strong demand for improved diagnostic capabilities and technological development, the Global Medical Imaging Market provides a dynamic environment overall full of possibilities for innovation and expansion.

The Global Medical Imaging Market is poised for transformative growth, driven by advancements in technology and an increasing demand for early disease detection and personalized treatment options.

U.S. Food and Drug Administration (FDA)

Medical Imaging Market Market Drivers

Growing Geriatric Population

The Global Medical Imaging Market Industry is significantly influenced by the growing geriatric population. As individuals age, they are more susceptible to various health issues, necessitating frequent imaging procedures for effective diagnosis and management. The World Health Organization projects that the number of people aged 60 and above will double by 2050, leading to increased healthcare demands. This demographic shift is likely to drive the market's expansion, as older adults often require imaging for conditions such as osteoporosis and cancer. Consequently, the market is expected to witness a compound annual growth rate of 4.63% from 2025 to 2035.

Rising Healthcare Expenditure

Increased healthcare expenditure across the globe is a significant factor propelling the Global Medical Imaging Market Industry. Governments and private sectors are investing heavily in healthcare infrastructure, which includes the acquisition of advanced imaging equipment. This trend is particularly evident in developing nations, where healthcare reforms are underway to improve access to medical services. As healthcare budgets expand, the demand for modern imaging technologies is likely to rise, further driving market growth. The anticipated market value of 66 USD Billion by 2035 reflects this upward trajectory fueled by enhanced healthcare spending.

Regulatory Support and Initiatives

Regulatory support and initiatives play a pivotal role in shaping the Global Medical Imaging Market Industry. Governments are implementing policies that promote the adoption of advanced imaging technologies, ensuring safety and efficacy in medical practices. For example, streamlined approval processes for new imaging devices and reimbursement policies for imaging services encourage healthcare providers to invest in modern equipment. This supportive regulatory environment is likely to stimulate market growth, as it facilitates the introduction of innovative imaging solutions. The market's projected growth to 40.1 USD Billion in 2024 indicates the positive impact of these initiatives.

Increasing Prevalence of Chronic Diseases

The rising incidence of chronic diseases globally is a crucial driver for the Global Medical Imaging Market Industry. Conditions such as cardiovascular diseases, cancer, and neurological disorders necessitate advanced imaging techniques for accurate diagnosis and treatment planning. According to health statistics, the prevalence of these diseases is expected to rise, leading to an increased demand for imaging services. This trend is likely to contribute to the market's growth, with projections indicating a market size of 66 USD Billion by 2035. The need for early detection and monitoring of chronic conditions underscores the importance of medical imaging.

Technological Advancements in Imaging Modalities

The Global Medical Imaging Market Industry is experiencing rapid growth due to significant technological advancements in imaging modalities. Innovations such as 3D imaging, artificial intelligence integration, and enhanced imaging software are transforming diagnostic capabilities. For instance, the introduction of high-resolution MRI and CT scanners has improved the accuracy of disease detection. These advancements not only enhance patient outcomes but also streamline workflows in healthcare facilities. As a result, the market is projected to reach 40.1 USD Billion in 2024, reflecting a growing demand for sophisticated imaging technologies.

Market Segment Insights

Medical Imaging Market Imaging Technique Insights

The Global Medical Imaging Market is significantly influenced by the Imaging Technique segment, which plays a crucial role in the overall market growth and technological advancements. By 2024, this segment alone is anticipated to represent a major portion of the market, reflecting the increasing investment and focus on advanced diagnostic capabilities in healthcare. Among the diverse imaging modalities, Magnetic Resonance Imaging (MRI) holds a dominant position with a valuation of 12.5 USD Billion in 2024 and projected to grow to 20.5 USD Billion by 2035.

This growth is mainly driven by the rising prevalence of chronic diseases and the demand for high-resolution imaging that MRI offers. In parallel, the Computed Tomography (CT) segment is poised to reach a valuation of 10.0 USD Billion in 2024, increasing to 16.0 USD Billion by 2035, highlighting its essential role in emergency diagnostics and oncology, where rapid and detailed imaging can be critical for timely treatment decisions.

The Ultrasound market is also vital, expected to value at 9.0 USD Billion in 2024, with a rise to 13.5 USD Billion by 2035, largely due to its non-invasive nature and real-time imaging capabilities, making it indispensable for prenatal examinations and various other medical evaluations.

The X-Ray segment, although valued lower at 6.0 USD Billion in 2024, is noted for its widespread use in hospitals and clinics, keeping its relevance strong, with a projected increase to 9.5 USD Billion by 2035. Lastly, Nuclear Imaging, valued at 2.63 USD Billion in 2024, is expected to rise to 6.5 USD Billion by 2035, fueled by advancements in imaging techniques such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT), which are essential in oncology and cardiology.

While all segments contribute to the Global Medical Imaging Market revenue, MRI, CT, and Ultrasound lead the charge, driven by technological innovation and increasing healthcare demands.

The growth trajectory of these modalities reflects changing market dynamics and highlights significant opportunities for investment in healthcare infrastructure globally. The ongoing trend of incorporating artificial intelligence and machine learning into these imaging techniques promises to further enhance accuracy and efficiency, further propelling market growth. Given these insights, the Imaging Technique segment of the Global Medical Imaging Market continues to evolve, addressing the ever-increasing healthcare demands while adapting to technological advancements and comprehensive patient care strategies.

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Medical Imaging Market End Use Insights

The Global Medical Imaging Market is poised for robust growth, with a valuation expected to reach 40.13 billion USD by 2024. Among the End Use categories, hospitals play a crucial role, often leading in the adoption of advanced imaging technologies due to the high volume of patients receiving diagnostic care. Diagnostic imaging centers also significantly contribute to the market, providing specialized services and equipment, which enhances patient diagnostics.

Research institutes are essential for innovation in the medical imaging industry, focusing on developing new imaging modalities and techniques to improve diagnostic accuracy.Outpatient facilities are increasingly important, offering convenient access to imaging services for patients while reducing the burden on hospitals.

The ongoing advancements in imaging technology, combined with an aging population and rising chronic diseases, are key growth drivers in the Global Medical Imaging Market. Moreover, increasing government initiatives aimed at improving healthcare infrastructure present ample opportunities for expansion within various End Use segments. Understanding the Global Medical Imaging Market segmentation is vital for stakeholders aiming to navigate this evolving industry effectively.Market growth will continue to be influenced by factors such as technological advancements and an emphasis on early disease detection.

Medical Imaging Market Modality Insights

The Global Medical Imaging Market, focusing on the Modality segment, is poised for substantial growth, projecting a market value of 40.13 USD Billion in 2024. This segment encompasses various techniques including Radiography, Tomography, Magnetic Resonance Imaging, and Ultrasonography. Each of these modalities plays a vital role in diagnostic healthcare, with Radiography being widely used for its efficiency and effectiveness in delivering quick results.

Tomography offers enhanced imaging clarity, significantly aiding in accurate diagnoses, while Magnetic Resonance Imaging is known for its superior soft tissue contrast, making it crucial in imaging protocols.Ultrasonography, on the other hand, is notable for its safety and real-time imaging capabilities, contributing significantly to prenatal and pediatric care. The growing demand for these modalities is driven by technological advancements and an increasing focus on early disease detection. However, challenges such as high costs and regulatory hurdles persist within the Global Medical Imaging Market industry.

Despite this, the segmentation reveals opportunities for innovation and growth, particularly in enhancing imaging technologies to improve patient outcomes and streamline workflows across healthcare systems.

Medical Imaging Market Product Type Insights

The Global Medical Imaging Market is poised for significant growth, with an expected valuation of 40.13 USD Billion in 2024, reflecting a robust demand across various Product Types. This market primarily consists of Consumables, Equipment, and Software, each playing a crucial role in improving diagnostic accuracy and patient outcomes globally. Consumables encompass essential items such as contrast agents and imaging supplies, ensuring the seamless operation of imaging procedures. Equipment includes diagnostic devices like MRI, CT, and ultrasound machines, which are fundamental in patient diagnosis and treatment planning.Software solutions enhance operational efficiency and data management in imaging practices.

The importance of Equipment in this landscape cannot be overstated, as advancements in technology are driving market growth and enabling healthcare providers to offer better services. Overall, the Global Medical Imaging Market segmentation reflects the industry's dynamism and adaptability, highlighting the growing emphasis on integration across these Product Types to improve healthcare delivery. The expected compound annual growth rate of 4.63 from 2025 to 2035 illustrates the ongoing evolution and increasing investment within this critical industry, presenting substantial opportunities for innovation and development.

Get more detailed insights about Medical Imaging Market Research Report - Forecast till 2035

Regional Insights

The Regional segmentation of the Global Medical Imaging Market reveals significant insights with North America leading the way, valued at 15.25 USD Billion in 2024, and expected to grow to 25.0 USD Billion by 2035. Europe follows closely with a valuation of 12.9 USD Billion in 2024 and projected growth to 20.0 USD Billion in 2035, indicating strong demand for advanced imaging technologies.

The Asia-Pacific (APAC) region, with a valuation of 8.3 USD Billion in 2024 and rising to 12.5 USD Billion by 2035, is experiencing rapid expansion due to improving healthcare infrastructure and increased investments in medical technologies.South America and the Middle East and Africa (MEA) contribute smaller shares with values of 2.4 USD Billion and 1.28 USD Billion, respectively, in 2024, growing to 4.0 USD Billion and 4.5 USD Billion by 2035.

The significant growth in North America and Europe reflects their advanced healthcare systems and the high adoption rate of cutting-edge medical imaging equipment, while the APAC’s growth indicates a shift towards modernization in healthcare practices. These regional dynamics highlight the diverse opportunities and challenges within the Global Medical Imaging Market, driving innovation and technological advancements across segments.

Medical Imaging Market Region

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Key Players and Competitive Insights

The Global Medical Imaging Market is a dynamic and rapidly evolving sector that boasts a significant presence due to the increasing demand for advanced healthcare solutions and diagnostic capabilities. As healthcare systems worldwide strive to enhance patient outcomes and deliver precise diagnostics, numerous players have emerged, each vying to capture a share of this lucrative market.

The competitive landscape is characterized by continuous innovation, strategic collaborations, technological advancements, and a growing focus on personalized medicine. The market is influenced by various factors, including rising incidence of chronic diseases, advancements in imaging technologies, increasing investments in healthcare infrastructure, and changing regulatory frameworks. Companies in this space are focusing on developing cutting-edge imaging solutions to cater to the diverse needs of healthcare providers and patients.

These dynamics present a rich field for competitive insights as firms seek to establish their foothold in both established and emerging markets.AgfaGevaert is a prominent player in the Global Medical Imaging Market known for its comprehensive portfolio of imaging solutions.

The company specializes in providing innovative imaging systems that meet the needs of healthcare providers, with a strong emphasis on quality and efficiency. AgfaGevaert's strengths lie in its advanced digital radiography and its ability to integrate imaging solutions across various healthcare settings, enhancing workflow and patient care. The company has carved out a significant market presence due to its commitment to research and development, which enables it to stay at the forefront of technological advancements in medical imaging.

By focusing on automation and patient engagement, AgfaGevaert continues to strengthen its competitive position, providing valuable solutions that help healthcare practitioners deliver superior diagnostics. Esaote is another key player in the Global Medical Imaging Market, specializing in ultrasound and MRI systems.

The company distinguishes itself through its commitment to innovation and the development of solutions that cater to both clinical and research needs. Key products offered by Esaote include compact MRI systems and advanced ultrasound technologies, which are widely adopted in hospitals and imaging centers across the globe. Esaote's market presence is bolstered by its dedication to partnerships and collaborations, enabling the company to expand its product offerings and enhance its technological capabilities. Additionally, Esaote actively pursues mergers and acquisitions to strengthen its portfolio and increase market share.

The company's strengths lie in its ability to deliver targeted solutions that empower healthcare professionals to make informed decisions, ultimately improving patient care and outcomes in the global medical imaging landscape.

Key Companies in the Medical Imaging Market market include

Industry Developments

The Global Medical Imaging Market has recently seen notable developments, with significant advancements in technology and strategic collaborations. Companies such as Philips Healthcare and Siemens Healthineers have been enhancing their imaging solutions, particularly in areas like artificial intelligence and cloud-based analytics. In terms of mergers and acquisitions, AgfaGevaert announced its acquisition of a key imaging technology firm in March 2023, aiming to strengthen its portfolio in radiology. Additionally, Fujifilm Holdings acquired a smaller imaging company in January 2023 to accelerate innovation in digital imaging solutions.

The market is projected to grow, driven by the increasing demand for diagnostic imaging and enhancements in healthcare infrastructure globally.

A notable trend has been the integration of automation and AI in imaging devices, leading to improved accuracy and efficiency in diagnostics. The emergence of new imaging modalities, particularly owing to advancements in ultrasound and MRI, is further reshaping the landscape. From 2021 to 2023, the market has expanded significantly, attributed to rising healthcare expenditure and technological evolution. Companies like GE Healthcare and Canon Medical Systems continue to innovate, contributing to the overall growth and competitiveness of the Global Medical Imaging Market.

Future Outlook

Medical Imaging Market Future Outlook

The Global Medical Imaging Market is projected to grow at a 4.63% CAGR from 2024 to 2035, driven by technological advancements, increasing healthcare expenditure, and rising demand for early diagnosis.

New opportunities lie in:

Invest in AI-driven imaging solutions to enhance diagnostic accuracy and efficiency.
Develop portable imaging devices to cater to remote and underserved regions.
Leverage telemedicine integration for remote imaging consultations and follow-ups.

By 2035, the market is expected to exhibit robust growth, reflecting advancements in imaging technologies and increased healthcare accessibility.

Market Segmentation

Report Scope

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	38.35(USD Billion)
MARKET SIZE 2024	40.13(USD Billion)
MARKET SIZE 2035	66.0(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	4.63% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2023
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	AgfaGevaert, Esaote, Hologic, Samsung Medison, Carestream Health, Canon Medical Systems, Mindray, GE Healthcare, Toshiba Medical Systems, Fujifilm Holdings, Hitachi Medical Corporation, Medtronic, Philips Healthcare, Siemens Healthineers, Konica Minolta
SEGMENTS COVERED	Imaging Technique, End Use, Modality, Product Type, Regional
KEY MARKET OPPORTUNITIES	Artificial intelligence integration, Emerging markets expansion, Advancements in imaging technology, Telehealth imaging solutions, Increased chronic disease prevalence
KEY MARKET DYNAMICS	technological advancements, rising prevalence of diseases, increasing aging population, demand for early diagnosis, government initiatives and investments
COUNTRIES COVERED	North America, Europe, APAC, South America, MEA

Market Highlights

Author

Rahul Gotadki

Assistant Manager

She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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