Medical Imaging Market to Set an Explosive Growth in Near Future 2025 - 2032

The rising prevalence of chronic diseases such as cardiovascular and neurologic disorders, as well as the realignment of healthcare systems, have resulted in a greater emphasis on early detection. The Centers for Disease Control and Prevention (CDC) estimates that coronary artery disease (CAD) affects 18.2 million adults in the United States alone each year. Diagnostic imaging is the use of various imaging modalities to obtain visual representations of a body's interior for diagnostic and therapeutic purposes. This includes a variety of modalities used to capture images of the human body for disease diagnosis and treatment, and thus plays an important role in improving overall health. According to a World Health Organization (WHO) report, approximately 3.6 billion diagnostic procedures are performed yearly. A total of 350 million examinations are performed on pediatric patients. This, along with the growing emphasis of government organizations on early disease diagnosis to control healthcare costs, influences the number of patients worldwide who undergo X-ray, magnetic resonance, and computed tomography scans.

Medical Imaging Market size was valued at USD 35.6 billion in 2023 and is poised to grow from USD 37.52 billion in 2024 to USD 57.15 billion by 2032, growing at a CAGR of 5.4% during the forecast period (2025-2032).

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New approaches to nuclear imaging, portable and wearable scanners, and other innovations contribute to the medical imaging industry growth. Mobile imaging equipment, for example, aids in the diagnosis and monitoring of elderly patients without the need for an in-person visit to the hospital. Brain activity can be detected using a mobile magnetoencephalography (MEG) scanner. This can improve the accuracy of diagnosis of conditions such as epileptic seizures by detecting the exact location in the brain that is causing the seizure.

Medical Imaging Market Segments Analysis:

Global Medical Imaging Market is segmented by Technology, Modality, Patient type, Application, End Use and region.

Based on Technology, the market is segmented into X-ray Devices, Ultrasound, Computed Tomography, Magnetic Resonance Imaging and Nuclear Imaging.
Based on Modality, the market is segmented into Stationary and Portable. Based on Patient type, the market is segmented into Adults and Pediatric.
Based on Application, the market is segmented into Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology and Other Applications.
Based on End Use, the market is segmented into Hospitals, Diagnostics Imaging Centers and Others.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Medical Imaging Market Key Players:

Siemens AG (Germany)
Analogic Corporation (US)
Canon Medical Systems Corporation (Japan)
CMR Naviscan (US)
General Electric Company (US)
FUJIFILM Holdings Corporation (Japan)
Hitachi Ltd (Japan)
Hologic, Inc. (US)
Medtronic PLC (Ireland)
Samsung (South Korea)
Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China)
Shimadzu Corporation (Japan)
Koninklijke Philips N.V. (Netherlands)
GE Healthcare (US)
Mindray Medical International (China)
Koning Corporation (Netherlands)
PerkinElmer Inc. (US)
Konica Minolta (Japan)
Varex Imaging (US)

Medical Imaging Key Market Trends:

One of the major factors driving market growth is the introduction of technologically advanced imaging equipment. The medical imaging market trends such as rising product demand during the forecast period is the increased use of advanced AI-enabled diagnostic equipment for rapid diagnosis and predictive analysis in developed countries.

Medical Imaging Market Regional Insights:

The global medical imaging market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America region is expected to account for the largest market. The growing number of patients undergoing diagnostic imaging procedures in the country is propelling the diagnostic imaging market in this region forward. Europe is expected to grow at a significant CAGR due to the presence of well-established healthcare facilities and the aging population's increasing demand for advanced healthcare systems. US is the leading country to have the most installed units of MRI systems per million population, at roughly 44 MRI systems per 100,000 people, just behind Japan which has 55 systems per 100,000 people. Due to rising chronic disease prevalence and demand for advanced diagnostic devices, Asia Pacific is expected to have the highest growth rate during the forecast period.

What's more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the global Medical Imaging industry.

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Objectives of the Study:

• To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
• To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
• To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
• To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
• To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
• To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
• To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market

Looking ahead, the Medical Imaging Market is poised for continued growth, driven by evolving consumer preferences and ongoing innovations. The trend towards sustainability is expected to strengthen, with more consumers seeking products that align with their values. Additionally, the integration of advanced technologies and digital platforms will likely further enhance market accessibility and consumer engagement. The global Medical Imaging Market is a dynamic and evolving landscape, shaped by a confluence of trends and factors.

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