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How has the medical imaging market size evolved in recent years?

There has been substantial growth in the size of the medical imaging market in recent years. The market is projected to increase from $43.24 billion in 2024 to $45.75 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. The expansion during the historic period can be ascribed to factors such as the escalating prevalence of chronic illnesses, an increasing older population, governmental initiatives and investments in healthcare, heightened awareness and preemptive diagnostics, along with a surge in minimally invasive procedures.

What are the predictions for the medical imaging market size in the coming years?

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What key factors are fueling the growth of the medical imaging market?

The escalating occurrence of chronic diseases is projected to fuel the expansion of the medical imaging market in the foreseeable future. Chronic diseases are medical conditions that generally persist for a minimum of three months and possess the propensity to deteriorate over time. Senior citizens are typically more prone to chronic diseases, which can often be controlled but not completely eradicated. The escalating instances of such chronic diseases stimulate the growth of the medical imaging market as it is pivotal in diagnosing and detecting such chronic conditions. As an illustration, in January 2023, as per the National Center for Biotechnology Information (NCBI), part of the US-based National Library of Medicine, it is anticipated that by the year 2050, the demographic of individuals who are 50 years and older with at least one chronic disease will experience a 99.5% spike, escalating from 71.522 million in 2020 to 142.66 million. Consequently, the escalating occurrence of chronic diseases is stimulating the medical imaging market.

How is the global medical imaging market divided into key segments?

The medical imaging market covered in this report is segmented –

1) By Product: X-Ray Devices, Magnetic Resonance Imaging (MRI), Ultrasound, Computed Tomography, Nuclear Imaging, Mammography

2) By Application: Obstetrics And Gynecology Health, Orthopedics And Musculoskeletal, Neuro And Spine, Cardiovascular And Thoracic, General Imaging, Oncology, Urology, Breast Health, Other Applications

3) By End User: Hospitals, Specialty Clinics, Diagnostic Imaging Centers, Other End Users

Subsegments:

1) By X-Ray Devices: Conventional X-Ray Systems, Digital Radiography Systems, Portable X-Ray Machines

2) By Magnetic Resonance Imaging (MRI): Closed MRI Systems, Open MRI Systems, Functional MRI (fMRI)

3) By Ultrasound: Diagnostic Ultrasound Systems, 3D/4D Ultrasound Systems, Portable Ultrasound Devices

4) By Computed Tomography (CT): Spiral/Helical CT Scanners, Cone Beam CT Scanners, Multi-Slice CT Scanners

5) By Nuclear Imaging: Positron Emission Tomography (PET) Scanners, Single Photon Emission Computed Tomography (SPECT) Scanners

6) By Mammography: Digital Mammography Systems, 3D Tomosynthesis Mammography Systems, Screening and Diagnostic Mammography Systems

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Who are the key firms paving the way for growth in the medical imaging market?

Major companies operating in the medical imaging market include Hitachi Medical Corporation, General Electric Company, Medtronic PLC, Siemens Healthcare GmbH, Fujifilm Holdings Corporation, Koninklijke Philips N V, Hologic Inc., Mindray Medical International Limited, PerkinElmer Inc., Shimadzu Corporation, Varian Medical Systems Inc., Agfa-Gevaert Group, Neusoft Medical Systems Co Ltd., Carestream Health Inc., Esaote SpA, Analogic Corporation, Samsung Medison Co Ltd., Canon Medical Systems Corporation, TomTec Imaging Systems GmbH, IBM Watson Health, Ziehm Imaging GmbH, MIM Software Inc., SuperSonic Imagine SA, EOS Imaging SA, Cubresa Inc., Planmed Oy, CurveBeam LLC, ContextVision AB, Koning Health, Intrasense SA

Which trends are expected to transform the medical imaging market?

Significant entities in the medical imaging market comprise of Hitachi Medical Corporation, General Electric Company, Medtronic PLC, Siemens Healthcare GmbH, and Fujifilm Holdings Corporation. Others include Koninklijke Philips N V, Hologic Inc., Mindray Medical International Limited, PerkinElmer Inc., Shimadzu Corporation, and Varian Medical Systems Inc. Some more players in the market are Agfa-Gevaert Group, Neusoft Medical Systems Co Ltd., Carestream Health Inc., Esaote SpA, Analogic Corporation, Samsung Medison Co Ltd., and Canon Medical Systems Corporation. Additional organizations in this sector are TomTec Imaging Systems GmbH, IBM Watson Health, Ziehm Imaging GmbH, MIM Software Inc., SuperSonic Imagine SA, EOS Imaging SA, Cubresa Inc., Planmed Oy, CurveBeam LLC, ContextVision AB, Koning Health, and Intrasense SA.

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What regions are contributing significantly to the growth of the medical imaging market?

North America was the largest region in the medical device market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global medical imaging market report during the forecast period. The regions covered in the medical imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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