Rising Prevalence Of Chronic Illnesses Drives Growth In The Medical Imaging Market: Pivotal Factor Influencing Medical Imaging Market Growth in 2025

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How Large Will the Medical Imaging Market Size By 2025?
The size of the medical imaging market has seen considerable growth in the previous years. There is expected to be an increase from $43.24 billion in 2024 to $45.75 billion in 2025, witnessing a compound annual growth rate (CAGR) of 5.8%. Factors responsible for this growth during the historical period include the growing incidence of chronic diseases, the aging demographic, government actions and investments in healthcare, improved awareness, earlier diagnosis, and an uptick in minimally invasive procedures.

How Big Is the Medical Imaging Market Size Expected to Grow by 2029?
In the coming years, the medical imaging market is projected to witness significant growth, rising to $59.3 billion in 2029 with an estimated compound annual growth rate (CAGR) of 6.7%. This uptick in the forecast period can be credited to evolving healthcare strategies like personalized medicine, hybrid imaging, the emergence of new modalities, global health obstacles and preparedness, along with integration into electronic health records (EHRs) and patient-centric care. The forecast period is also likely to see major trends including remote imaging and telemedicine, incorporation of artificial intelligence (AI), technological improvements, advancements in 3D and 4D imaging, and a growing reliance on portable and point-of-care imaging devices.

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Which Key Market Drivers Powering Medical Imaging Market Expansion and Growth?
Expected growth in the medical imaging market is anticipated to be driven by the rising prevalence of chronic diseases. Chronic conditions, usually lasting three months or longer and having the potential to deteriorate over time, are common in the elderly and can be managed but not necessarily cured. As these illnesses require medical imaging for diagnosis and monitoring, an increase in their incidence consequently fuels the medical imaging market. The U.S. National Center for Biotechnology Information (NCBI), part of the National Library of Medicine, reported in January 2023 a projection for a significant increase in chronic disease among people age 50 or older by 2050. Specifically, the report predicted a 99.5% rise from 71.522 million cases in 2020 to 142.66 million. Given these statistics, the escalating prevalence of chronic diseases is indeed a key factor in the demand for medical imaging.

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Which Fast-Growing Trends Are Poised to Disrupt the Medical Imaging Market?
Prominent players in the medical imaging market are concentrating their efforts on the development of advanced technologies such as mobile connectivity. This technology allows remote specialists to provide guidance on scanning and diagnostics. It provides a platform for healthcare professionals to monitor and manage MRI scans from afar, access patient information, and receive updates on scan status or emergency situations. For example, in November 2022, Siemens Healthcare, a company based in Germany, introduced their new portable magnetic resonance imaging scanner, the Magnetom Viato.Mobile. This cutting-edge MRI scanner is specially tailored for mobile use. It displays extraordinary flexibility with its 70-centimeter patient bore and trailer configuration, facilitating easy transportation and immediate usage at various locations. It supports remote functioning via a stable internet connection or 4G, allowing it to be utilized in a wide range of settings. This feature lessens the necessity for staff at the location, while still enabling experts to remotely assist with scans and carry out maintenance tasks. The Magnetom Viato.Mobile MRI scanner, with its patient-friendly design and easy transportability, can be operated remotely, thereby reducing the need for on-site personnel yet ensuring specialist support for scans and maintenance from a distance.

What Are the Emerging Segments in 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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Who Are the Global Leaders in the Medical Imaging Market?
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

Which are the Top Profitable Regional Markets for the Medical Imaging Industry?
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.

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