Medical Imaging Equipment Market Trends 2025-2034: Growth, Strategic Insights, and Opportunities Ahead
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of theMedical Imaging Equipment Market?
The medical imaging equipment market’s expansion is expected to be driven by the increasing incidence of chronic diseases. Chronic illnesses are persistent conditions that usually develop gradually and last for long durations, often spanning years or even a lifetime. These conditions result from changing lifestyles, genetic factors, and aging populations. Medical imaging equipment plays a crucial role for patients with chronic diseases by enabling early detection, precise diagnosis, custom treatment strategies, and consistent tracking of disease development and treatment reactions. For example, as per the World Health Organization, a specialized agency of the United Nations based in Switzerland, in September 2022, there were 41 million deaths globally, accounting for 74% of deaths due to non-communicable diseases (NCDs) or chronic illnesses annually. There were 17.9 million deaths from heart diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Consequently, the increased incidence of chronic diseases is propelling the growth of the medical imaging equipment market.
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How Has the Medical Imaging Equipment Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
The market size for medical imaging equipment has experienced a robust growth in recent periods. The market is predicted to increase from $45.75 billion in 2024 to $48.89 billion in 2025, marking a compound annual growth rate (CAGR) of 6.9%. Factors such as the increasing aging population, rising disease prevalence, government incentives, heightened awareness, and incorporation of artificial intelligence (AI) are responsible for the growth observed in the historical period.
The market size for medical imaging equipment is anticipated to exhibit robust growth in the coming years, escalating to $60.89 billion in 2029, with a compound annual growth rate (CAGR) of 5.6%. Factors such as enhanced personalized medicine, rise in remote patient monitoring, growth of emerging markets, value-oriented healthcare, and an increase in precision medicine are all contributing to the growth projected for this period. Notable trends expected during this forecast period include integration of digital health, advancements in imaging modalities, breakthroughs in technology, incorporation of telemedicine, as well as portable and point-of-care imaging.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theMedical Imaging Equipment Market?
Leading businesses in the medical imaging equipment market are focusing on the creation of innovative products such as Exo Iris, their latest medical imaging device. This gadget comes with real-time artificial intelligence (AI) capabilities, like SweepAI, which automatically snaps essential images, lessening the dependence on the operator’s proficiency and guaranteeing steady and exact imaging. For instance, in September 2023, Exo, an American medical imaging startup, unveiled its latest imaging device, Exo Iris. The device is designed to be cost-effective, small-sized, and user-friendly, making it available to a broad spectrum of healthcare providers such as doctors, nurses, EMTs, and clinicians in emergency, acute care, outpatient, and home-based settings. Besides, it provides features like an ultra-wide view for imaging up to 150 degrees, enabling healthcare providers to capture an entire liver or a full-body fetus in a single view. The device is also fitted with Exo Works, a point-of-care ultrasound workflow solution, that allows for quick documentation and review of exams from any location.
Who Are the Key Market Players Influencing the Growth of the Corn and Medical Imaging Equipment Industry?
Major companies operating in the medical imaging equipment market are Medtronic plc., Siemens Healthineers, Fujifilm Medical Systems, Philips Healthcare, Stryker Corporation, GE Healthcare, Analogic Corporation, EIZO Corporation, Terumo Corporation, Mindray Medical International Limited, Hologic Inc., Shimadzu Corporation, PerkinElmer Inc., Carestream Health, Barco NV, Varian Medical Systems Inc., Esaote S.p.A., Samsung Medison Co. Ltd., Canon Medical Systems Corporation, Hitachi Healthcare Ltd., Planmed Oyj, Misonix Inc., Nano X Imaging Ltd., InnoScan Inc
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Which Key Market Segments Comprise the Medical Imaging Equipment Market and Drive Its Revenue Growth?
The medical imaging equipment market covered in this report is segmented –
1) By Equipment: Computed Tomography, X-Ray Systems, Magnetic Resonance Imaging (MRI) Systems, Ultrasound Systems, Nuclear Imaging Equipment, Mammography Equipment, Contrast Media Injectors, C-Arms And Fluoroscopy Device
2) By Modality: Stand-Alone Devices, Portable Devices, Hand-Held Devices
3) By Application: Cardiology, Neurology, Orthopedics, Gynecology, Oncology, Other Applications
4) By End-User: Diagnostic Imaging Centers, Ambulatory Surgical Centers, Specialty Clinics, Research Institutes
Subsegments:
1) By Computed Tomography (CT) Systems: Stationary CT Scanners, Portable Or Handheld CT Scanners
2) By X-Ray Systems: Analog X-Ray Systems, Digital X-Ray Systems, Fluoroscopy X-Ray Systems
3) By Magnetic Resonance Imaging (MRI) Systems: Closed MRI Systems, Open MRI Systems, Extremity MRI Systems
4) By Ultrasound Systems: Diagnostic Ultrasound Systems, Therapeutic Ultrasound Systems, Portable Ultrasound Systems
5) By Nuclear Imaging Equipment: Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET) Scanners, Hybrid PET Or CT Scanners
6) By Mammography Equipment: Analog Mammography Systems, Digital Mammography Systems, 3D Tomosynthesis Mammography Systems
7) By Contrast Media Injectors: CT Contrast Media Injectors, MRI Contrast Media Injectors, PET Or CT Contrast Media Injectors
8) By C-Arms And Fluoroscopy Devices: Mobile C-Arms, Mini C-Arms, Fixed C-Arms, Fluoroscopy Systems
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Which Regions Are Emerging as Leaders in the Medical Imaging Equipment Market?
Asia-Pacific was the largest region in the medical imaging equipment market in 2024. The regions covered in the medical imaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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