Discover trends, market shifts, and competitive outlooks for the diagnostic imaging equipment industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

How Has the Diagnostic Imaging Equipment Market Growth Performance Trended Historically, And What Lies Ahead?

In the past few years, the market size for diagnostic imaging equipment has seen a significant growth. It is predicted to escalate from $56.96 billion in 2024 to $60.86 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. Factors contributing to the growth in the historic period include a rise in the aging population, increased disease burden, healthcare reimbursement, and regulatory approvals.

The market size for diagnostic imaging equipment is projected to witness consistent expansion in the upcoming years. The predicted growth will reach $71.44 billion by 2029, with a compound annual growth rate (CAGR) of 4.1%. This surge in the projected period can be attributed to the integration of artificial intelligence (AI), the rise of remote imaging services, custom-tailored medicine, the expansion of emerging markets, and the use of minimally invasive procedures. Noteworthy trends for the forecast period encompass the adoption of 3D and 4D imaging procedures, point-of-care imaging, reduction in radiation dose, hybrid imaging, and a focus on environmental sustainability.

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What Are the Core Market Drivers Propelling Growth in the Diagnostic Imaging Equipment Industry?

Diagnostic imaging equipment market growth is likely to be fueled by the worldwide rise in chronic diseases. Chronic diseases are conditions that persist for a year or more, requiring constant medical attention and often impairing everyday activities. These diseases include conditions like diabetes, cancer, and more. Radiological imaging techniques are employed to detect numerous diseases such as cancer, diabetes, and heart diseases. Diagnostic imaging can detect chronic diseases that are asymptomatic. For example, The World Health Organization, a US-based intergovernmental organization, reported in September 2023 that non-communicable diseases (NCDs) cause 41 million deaths per year, which equates to 74% of all deaths worldwide. Notably, 17 million of these individuals die before turning 70, with 86% residing in developing nations. Hence, the upsurge in chronic illnesses globally is bolstering the diagnostic imaging equipment market trend.

How Is the Diagnostic Imaging Equipment Market Segmented?

The diagnostic imaging equipment market covered in this report is segmented –

1) By Type: X-Ray Systems Devices And Equipment, Ultrasound Systems Devices And Equipment, Computed Tomography (CT) Scanners Devices And Equipment, Magnetic Resonance Imaging Systems Devices And Equipment, Cardiovascular Monitoring And Diagnostic Devices And Equipment, Nuclear Imaging Devices And Equipment

2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users

3) By Type of Expenditure: Public, Private

4) By Product: Instruments Or Equipment, Disposables

Subsegments:

1) By X-Ray Systems Devices And Equipment: Analog X-Ray Systems, Digital X-Ray Systems, Fluoroscopy Systems, Portable X-Ray Systems, Mammography Systems

2) By Ultrasound Systems Devices And Equipment: Diagnostic Ultrasound Systems, Therapeutic Ultrasound Systems, 2D Ultrasound Systems, 3D Or 4D Ultrasound Systems, Portable Ultrasound Systems

3) By Computed Tomography (CT) Scanners Devices And Equipment: Conventional CT Scanners, Spiral Or Helical CT Scanners, Multislice CT Scanners, Portable CT Scanners

4) By Magnetic Resonance Imaging Systems Devices And Equipment: Closed MRI Systems, Open MRI Systems, Extremity MRI Systems, High-Field MRI Systems, Low-Field MRI Systems

5) By Cardiovascular Monitoring And Diagnostic Devices And Equipment: ECG Systems, Echocardiography Systems, Stress Testing Systems, Cardiac Catheterization Equipment, Holter Monitoring Systems

6) By Nuclear Imaging Devices And Equipment: Positron Emission Tomography (PET) Scanners, Single-Photon Emission Computed Tomography (SPECT) Scanners, Hybrid PET Or CT Scanners, Gamma Cameras

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Which Regions Are Driving the Next Phase of the Diagnostic Imaging Equipment Market Growth?

Western Europe was the largest region in the global diagnostic imaging equipment market in 2023. North America was the second largest region in the global diagnostic imaging equipment market. Africa. was the smallest region in the global diagnostic imaging equipment market. The regions covered in the diagnostic imaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Key Trends Are Shaping the Future of the Diagnostic Imaging Equipment Market?

Leading firms in the diagnostic imaging equipment market are striving to innovate with new technologies, such as medical imaging, to enhance the precision of diagnosis and the outcomes for patients. Initiatives to improve workflows and extend access to superior imaging are the main focus of these advancements. Medical imaging encompasses a variety of methods employed to produce visual depictions of the internal structures of the body for diagnostic and treatment purposes. Frequent tools include X-rays, MRI, CT scans, and ultrasounds. For example, Wipro Ltd., a technology company based in India, joined forces with GE HealthCare Technologies, Inc., an American medical technology firm, in April 2022. Their collaboration aimed at innovating the Aspire CT scanner, a state-of-the-art computed tomography system entirely manufactured in India, aligning with the Atmanirbhar Bharat initiative. This revolutionary scanner provides enhanced imaging abilities, pushes operational efficiency by up to 50%, and improves image quality by 30%. Produced in a new factory with an investment exceeding INR 100 crore from the government’s Production Linked Incentives (PLI) Scheme, the scanner is designed to boost access to high-quality healthcare services, especially in the tier 2 and tier 3 cities.

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How Is the Diagnostic Imaging Equipment Market Defined and What Are Its Core Parameters?

Diagnostic imaging equipment allows physicians to view the inside of the human body to help them find any indications of a health condition.

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