Medical Imaging Equipment Market Poised for 5.6% Growth, Set to Hit $7.41 Billion by 2029

What market dynamics are playing a key role in accelerating the growth of the medical imaging equipment market?
The increasing occurrence of persistent illnesses is projected to fuel the expansion of the medical imaging equipment market. These are enduring diseases that generally develop gradually and last for a longer duration, frequently spanning years or even a lifetime. They originate from changing lifestyle habits, hereditary susceptibility, and an aging populace. Medical imaging devices aid patients with chronic diseases by enabling early identification, precise diagnosis, tailored treatment strategies, and continuous tracking of disease advancement and treatment response. For instance, the World Health Organization, a Switzerland-based UN agency, reported in September 2022 that there were 41 million deaths globally, representing 74% of deaths resulting from non-communicable diseases (NCDs) or chronic diseases annually. The report included 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the escalating occurrence of chronic diseases is propelling the growth of the medical imaging equipment market.

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How will the growth rate of the medical imaging equipment market shape industry trends by 2034?
Over the past few years, there has been a robust growth in the size of the medical imaging equipment market. Its size is projected to increase from $45.75 billion in 2024 to $48.89 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 6.9%. The previous expansion can be associated with several factors such as a growing elderly population, increment in disease prevalence, governmental policies, heightened awareness and the incorporation of Artificial Intelligence.

In the forthcoming years, the medical imaging equipment market is slated for a robust expansion. Anticipations point towards a market value of $60.89 billion in 2029, with a compound annual growth rate (CAGR) of 5.6%. The projected surge during the forecast period is fueled by factors such as expanding personalized medicine, enhanced remote patient monitoring, burgeoning growth in emerging markets, value-based healthcare, and precision medicine's ascent. Significant trends expected during this period include the fusion of digital health, novel imaging methods, technological progression, telemedicine assimilation, and the advent of portable and point-of-care imaging.

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What trends are poised to drive the future success of the medical imaging equipment market?
In the medical imaging equipment market, main players are focusing on producing cutting-edge items such as Exo Iris, their latest medical imaging gadget, which boasts real-time artificial intelligence (AI) technology like SweepAI. This technology automatically captures vital images, diminishing the need for operator expertise and providing consistent, exact imaging. For example, in September 2023, Exo, an American medical imaging start-up, introduced their newest imaging tool, Exo Iris, created to be inexpensive, portable, and user-friendly, hence expanding its reach to a broad group of care providers such as doctors, nurses, EMTs, and clinicians in differing settings like emergency, acute care, outpatient, and home-based care. Additionally, it provides an ultra-wide imaging range of up to 150 degrees, permitting practitioners to capture an entire liver or complete fetus in one shot. The device is also equipped with Exo Works, a point-of-care ultrasound workflow system that facilitates swift documentation and review of exams from any location.

Which primary segments of the medical imaging equipment market are driving growth and industry transformations?
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 geographical regions are pioneering growth 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.

Who are the influential players reshaping the medical imaging equipment market landscape?
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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What Is Covered In The Medical Imaging Equipment Global Market Report?

•Market Size Forecast: Examine the medical imaging equipment market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the medical imaging equipment market for a structured understanding.
•Key Players Overview: Analyze major players in the medical imaging equipment market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the medical imaging equipment market.
•Segment Contributions: Evaluate how different segments drive overall growth in the medical imaging equipment market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the medical imaging equipment market.
•Industry Challenges: Identify potential risks and obstacles affecting the medical imaging equipment market.
•Competitive Landscape: Review strategic developments in the medical imaging equipment market, including expansions, agreements, and new product launches.

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