Medical Imaging Market Anticipated To Witness Robust Growth, Surpassing $59.3 Billion By 2029

The Medical Imaging Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Medical Imaging Market Size Expected to Be by 2034?
There has been a robust expansion in the size of the medical imaging market in the recent past. The market is projected to surge from $43.24 billion in 2024 to $45.75 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. The historical growth has been driven by factors such as the increasing occurrence of chronic illnesses, growing elderly population, government interventions and investments in healthcare, enhanced awareness and early detection, and an increase in minimally invasive procedures.

In the coming years, the medical imaging market size is anticipated to experience significant expansion, reaching $59.3 billion in 2029 with a compound annual growth rate (CAGR) of 6.7%. The development during the predicted period is ascribed to tailored medicine strategies, emerging modalities, and hybrid imaging. Other contributing factors include readiness to global health challenges, collaboration with electronic health records (EHRs), and a focus on patient-centric care. Upcoming trends for the forecast period comprise of remote imaging and telemedicine, incorporation of artificial intelligence (AI), technological progressions, improvements in 3D and 4D imaging, and the growing utilization of portable and point-of-care imaging apparatus.

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What Are the Emerging Segments Within the Medical Imaging Market?
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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What Long-Term Drivers Are Shaping Medical Imaging Market Trends?
The anticipated surge in chronic diseases is predicted to spur the expansion of the medical imaging market in the foreseeable future. Chronic diseases are health issues or conditions that usually persist for at least three months and often have the propensity to deteriorate over time. Elderly individuals tend to be more susceptible to these chronic diseases, which can often be controlled but rarely cured. As the occurrence of such chronic conditions elevates, so does the demand for medical imaging, given that it is pivotal in diagnosing and identifying these chronic maladies. For instance, projections by the National Center for Biotechnology Information (NCBI), a branch of the US's National Library of Medicine in January 2023, suggest that by 2050, there will be a 99.5% jump in the number of people aged 50 years and older suffering from at least a single chronic disease, escalating from 71.522 million in 2020 to 142.66 million. Consequently, the rising prevalence of chronic conditions is propelling the growth of the medical imaging market.

Who Are the Top Competitors in Key Medical Imaging Market Segments?
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

What Medical Imaging Market Trends Are Gaining Traction Across Different Segments?
Prominent firms in the medical imaging market are increasingly focusing on advancements in technology like mobile connectivity. This innovation allows specialists from remote locations to assist with scanning and diagnostic processes. It grants health practitioners the freedom to monitor and control MRI scans from afar, access patient information, and receive critical notifications regarding scan statuses or emergencies. For example, in November 2022, German healthcare company Siemens Healthcare introduced a new mobile MRI scanner called Magnetom Viato.Mobile. This state-of-the-art MRI scanner is specifically designed for mobile use and offers an exceptional level of flexibility due to its 70-centimeter patient bore and trailer setup. This enhances its mobility and allows for on-spot deployment. It has provisions for remote operation and service through fixed internet or 4G, which makes it usable in various diverse locales. This feature significantly reduces the need for on-site staff and grants specialists the ability to remotely carry out scanning and maintenance tasks. A repeat of the same feature is offered by Magnetom Viato.Mobile, making it a reliable and efficient solution for diverse locations.

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Which Regions Are Becoming Hubs for Medical Imaging Market Innovation?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Medical Imaging Market?
2. What is the CAGR expected in the Medical Imaging Market?
3. What Are the Key Innovations Transforming the Medical Imaging Industry?
4. Which Region Is Leading the Medical Imaging Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

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