Medical Imaging Market 2025-2034: Key Highlights, Growth Dynamics, and Emerging Trends
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Medical Imaging Market?
The medical imaging market is expected to grow, spurred by an increasing number of chronic illnesses. Chronic illnesses are medical conditions that usually last for three months or more, and have a propensity to worsen over time. These illnesses are more common among the elderly and can often be controlled but not completely eradicated. The rise in chronic illnesses stimulates growth in the medical imaging market as they largely aid in the diagnosis and monitoring of these conditions. For example, the National Center for Biotechnology Information (NCBI), part of the US National Library of Medicine, projected in January 2023 that by 2050, the population of those aged 50 years and above with at least one chronic illness is predicted to increase by 99.5%, growing from 71.522 million in 2020 to 142.66 million in 2050. Therefore, this increase in chronic illnesses is significantly contributing to the expansion of the medical imaging market.
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#What Long-Term Growth Rate is Expected for theMedical Imaging Market Between 2025 and 2034?
In recent times, there has been significant expansion in the size of the medical imaging market. The market is projected to increase from $43.24 billion in 2024 to $45.75 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.8%. Contributing factors to the growth observed in the historical period include the surging incidence of chronic diseases, the ageing demographic, government-driven initiatives and investments in healthcare, rising consciousness as well as early diagnosis, and the trend towards minimally invasive procedures.
A significant expansion is predicted for the medical imaging market over the next few years, with its value anticipated to reach $59.3 billion in 2029, expanding at a compound annual growth rate (CAGR) of 6.7%. Factors contributing to this projected growth during the forecasted timeframe include personalized healthcare methods, advanced imaging technologies, and a global emphasis on health concerns and readiness. Moreover, the integration of medical imaging with electronic health records (EHRs) and an emphasis on patient-centred care and experience also contribute. Key trends projected to shape the market during this period involve the incorporation of telemedicine and remote imaging, the use of artificial intelligence (AI), technological innovations, and the development of 3D and 4D imaging. Additionally, the rising use of portable and point-of-care imaging devices is anticipated to fuel growth.
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What Are the Key Market Innovations in theMedical Imaging Market Over the Coming Years?
Companies leading the medical imaging market are prioritizing the creation of more advanced technologies such as mobile connectivity. This innovation allows experts working remotely to contribute to scanning and diagnostic procedures. This form of connectivity enables healthcare providers to remotely manage MRI scans, review patient information, and receive updates on scan progress or emergencies. An example of this was seen in November 2022 when Siemens Healthcare, a healthcare firm based in Germany, unveiled Magnetom Viato.Mobile, a new mobile magnetic resonance imaging scanner optimized for mobile use. With a wide 70-centimeter patient bore and a trailer setup, it offers exceptional flexibility, promoting easy transport and onsite deployment. The scanner can be operated and serviced remotely, with either fixed internet or 4G, and can be used in various locations. This technology reduces the requirement for onsite staff while facilitating remote support for scan and maintenance services from specialists.
Who Are the Top Companies Driving Innovation and Growth in theMedical 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
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Which Key Market Segments Comprise the Medical Imaging Market and Drive Its Revenue Growth?
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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Which Regions Are Emerging as Leaders in 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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