Global Diagnostic Imaging Equipment Market Projected to Grow at 4.5% CAGR, Reaching $65.41 Billion by 2029

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What Will the Diagnostic Imaging Equipment Industry Market Size Be by 2025?
In recent years, there has been a consistent increase in the size of the diagnostic imaging equipment market. The market, which is valued at $52.88 billion in 2024, is expected to see a rise to $54.96 billion in 2025, growing at a compound annual growth rate (CAGR) of 3.9%. The expansion during the historical period can be linked to factors such as an aging population, an escalating disease burden, healthcare reimbursement, and regulatory approvals.

What's the Long-Term Growth Forecast for the Diagnostic Imaging Equipment Market Size Through 2029?
The market size of diagnostic imaging equipment is predicted to experience consistent expansion in the upcoming years. The market is projected to reach $65.41 billion by 2029, with a compound annual growth rate (CAGR) of 4.5%. Factors contributing to this growth during the predicted period include the incorporation of artificial intelligence (AI), the provision of remote imaging services, personalized treatments, growth in emerging markets, and the use of less invasive procedures. Significant trends expected during this period encompass the adoption of 3D and 4D imaging techniques, imaging at the point of care, reducing the dosage of radiation, hybrid imaging, and environmental sustainability.

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What Are the Key Growth Drivers Fueling the Diagnostic Imaging Equipment Market Expansion?
The upsurge in chronic diseases worldwide is anticipated to be a key driver of the diagnostic imaging equipment market. Chronic illnesses, those that endure for a year or more, requiring consistent medical attention, and inhibiting everyday activities or both, include conditions like cancer, diabetes and more. Radiology imaging techniques are essential in diagnosing a wide array of diseases, including diabetes, cancer and cardiovascular diseases. Undetected chronic diseases can also be identified through diagnostic imaging. For example, the World Health Organization, a US-based intergovernmental body, reported in September 2023 that noncommunicable diseases (NCDs) contribute to 74% of global deaths equating 41 million deaths annually, with 17 million individuals dying prematurely, before reaching the age of 70. Alarmingly, 86% of these premature deaths occur in low- and middle-income nations. This worldwide escalation in chronic diseases, therefore, fuels the growth of the diagnostic imaging equipment market.

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What Are the Key Trends Driving Diagnostic Imaging Equipment Market Growth?
Key players in the diagnostic imaging equipment market are investing in the innovation of new technology, specifically medical imaging, to bolster diagnostic precision and patient care. The goal of these advancements is to enhance workflow efficiency and broaden access to superior imaging. Medical imaging comprises methods used to generate visual depictions of internal body structures for the purpose of diagnostics and treatment. It includes modalities like X-rays, MRI, CT scans, and ultrasounds. For example, Wipro Ltd., a technology corporation from India, collaborated with GE HealthCare Technologies, Inc., an American medical technology firm, in April 2022, to revolutionize the Aspire CT scanner. This leading-edge computed tomography system, fully manufactured in India, aligns with the Atmanirbhar Bharat initiative. The upgraded scanner touts upgraded imaging functionality, up to 50% improved operational throughput, and a 30% uptick in image quality. Made within a newly constructed facility which had an investment of over INR 100 crore under the government's Production Linked Incentives (PLI) Scheme, this scanner strives to improve the availability of quality healthcare, particularly in second and third-tier cities.

How Is the Diagnostic Imaging Equipment Market Segmented?
The diagnostic imaging equipment market covered in this report is segmented -

1) By Type: X-Ray Systems Devices And Equipment, Ultrasound Systems Devices And Equipment, Computed Tomography (CT) Scanners Devices And Equipment, Magnetic Resonance Imaging Systems Devices And Equipment, Cardiovascular Monitoring And Diagnostic Devices And Equipment, Nuclear Imaging Devices And Equipment
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments Or Equipment, Disposables

Subsegments:
1) By X-Ray Systems Devices And Equipment: Analog X-Ray Systems, Digital X-Ray Systems, Fluoroscopy Systems, Portable X-Ray Systems, Mammography Systems
2) By Ultrasound Systems Devices And Equipment: Diagnostic Ultrasound Systems, Therapeutic Ultrasound Systems, 2D Ultrasound Systems, 3D Or 4D Ultrasound Systems, Portable Ultrasound Systems
3) By Computed Tomography (CT) Scanners Devices And Equipment: Conventional CT Scanners, Spiral Or Helical CT Scanners, Multislice CT Scanners, Portable CT Scanners
4) By Magnetic Resonance Imaging Systems Devices And Equipment: Closed MRI Systems, Open MRI Systems, Extremity MRI Systems, High-Field MRI Systems, Low-Field MRI Systems
5) By Cardiovascular Monitoring And Diagnostic Devices And Equipment: ECG Systems, Echocardiography Systems, Stress Testing Systems, Cardiac Catheterization Equipment, Holter Monitoring Systems
6) By Nuclear Imaging Devices And Equipment: Positron Emission Tomography (PET) Scanners, Single-Photon Emission Computed Tomography (SPECT) Scanners, Hybrid PET Or CT Scanners, Gamma Cameras

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Which Companies Are Leading the Charge in Diagnostic Imaging Equipment Market Innovation?
Major companies operating in the diagnostic imaging equipment market include Siemens AG, Koninklijke Philips NV, Fujifilm Holdings Corporation, General Electric Company, Elekta AB, Carestream Health Inc., Hologic Inc., Medtronic plc, Mindray Medical International Limited, Canon Medical Systems Corporation, Esaote SpA, Shimadzu Medical Systems USA, Samsung Electronics Co. Ltd., Koning Corporation, Toshiba Medical Systems Corporation, Hitachi Medical Systems America Inc., Agfa-Gevaert NV, Analogic Corporation, Bracco Imaging SpA, Del Medical Inc., Esaote North America Inc., Imaging Dynamics Company Ltd., InfiMed Inc., Mediso Medical Imaging Systems Kft., NeuroLogica Corp., Planmed Oy, Shimadzu Corporation, SonoScape Medical Corp., SuperSonic Imagine SA, Terason, Toshiba America Medical Systems Inc., Ziehm Imaging GmbH, Zonare Medical Systems Inc.

Which Regions Are Leading the Global Diagnostic Imaging Equipment Market in Revenue?
Western Europe was the largest region in the global diagnostic imaging equipment market in 2024. North America was the second largest region in the global diagnostic imaging equipment market. Africa. was the smallest region in the global diagnostic imaging equipment market. The regions covered in the diagnostic imaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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