Medical Imaging Equipment Market Size Forecasted To Achieve $60.89 Billion By 2029 With Steady Growth

The Medical Imaging Equipment 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].

What Is the Medical Imaging Equipment Market Size and Projected Growth Rate?
The market size for medical imaging equipment has witnessed significant growth over the recent years. The market value is set to escalate from $45.75 billion in 2024 to $48.89 billion in 2025, experiencing a compound annual growth rate (CAGR) of 6.9%. The expansion during the historical period can be traced back to factors such as the growing elderly population, escalating disease prevalence, government-led initiatives, enhanced public awareness, and the incorporation of AI technology.

The market size for medical imaging equipment is anticipated to witness significant expansion in the coming years. The market is projected to surge to $60.89 billion by 2029, with a compound annual growth rate (CAGR) of 5.6%. The anticipated growth during the forecast period can be ascribed to factors such as the rise in personalized medicine, increased remote patient monitoring, emerging markets growth, a shift towards value-based healthcare, and the rise in precision medicine. Predicted trends for this period include integration of digital healthcare, introduction of innovative imaging modalities, advances in technology, the inclusion of telemedicine, along with portable and point-of-care imaging.

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What Are the Major Segments in the Medical Imaging Equipment Market?
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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What Are The Driving Medical Imaging Equipment Market Evolution?
The escalating incidence of long-term illnesses is projected to spur the expansion of the medical imaging equipment market. Chronically enduring diseases typically advance slowly and persist for lengthy durations, owing to factors such as shifting lifestyles, genetic predispositions, and an ageing demographic. Medical imaging equipment is critical for these individuals as it enables early detection, precise diagnosis, bespoke treatment planning, and continuous tracking of the disease advancement and treatment efficacy. For instance, the World Health Organization, a United Nations specialist agency based in Switzerland, reported in September 2022 that there were 41 million deaths globally, accounting for 74% of all deaths due to non-communicable diseases or chronic diseases annually. Specifically, the numbers were 17.9 million from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. Hence, the amplifying trend of chronic diseases is at the helm of driving the growth of the medical imaging equipment market.

Which Firms Dominate The Medical Imaging Equipment Market Segments?
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

What Trends Are Expected to Dominate the Medical Imaging Equipment Market in the Next 5 Years?
Leading businesses active in the field of medical imaging equipment are focusing on the evolution of innovative products like Exo Iris, their latest medical imaging gadget. This device incorporates real-time artificial intelligence (AI) technologies such as SweepAI, which can autonomously capture essential images, thus minimizing dependence on operator competence and guaranteeing uniform and exact imaging. For instance, in September 2023, Exo, a medical imaging startup from the US, introduced Exo Iris, their latest imaging equipment. It's been engineered to be cost-effective, small-sized, and user-friendly, hence making it accessible not only to physicians but also to nurses, EMTs, and clinicians dealing with emergency, acute care, outpatient, and home-care scenarios. In addition, it provides features like an ultra-wide imaging scope of up to 150 degrees, letting caregivers capture an entire liver or whole-body fetus in just one view. The device includes Exo Works, an ultrasound workflow solution for point-of-care use, for fast and easy exam documentation and review from any location.

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Which Is The Largest Region 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.

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