Medical Imaging Market
Medical Imaging Market Forecasts to 2030 - Global Analysis By Product (X-ray Systems, Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Ultrasound Systems, Nuclear Imaging, Mammography Systems, Fluoroscopy Systems and Other Products), Material, Distribution Channel, Application, End User and By Geography
According to Stratistics MRC, the Global Medical Imaging Market is accounted for $43.7 billion in 2024 and is expected to reach $70.9 billion by 2030 growing at a CAGR of 8.4% during the forecast period. Medical imaging is technique and process used to create visual representations of the interior of a body for clinical analysis and medical intervention. These techniques include various modalities such as X-ray, ultrasound, computed tomography (CT), magnetic resonance imaging (MRI), and nuclear medicine imaging. Each modality utilizes different principles to capture detailed images of organs, tissues, and structures, aiding in the diagnosis, monitoring, and treatment planning of various medical conditions, ensuring precise and effective medical care.
According to the United Nations, a newborn in 2021 is projected to have an average lifespan of nearly 25 years longer than someone born in 1950, achieving an average age of 71 years, with females typically living five years longer than males.
Market Dynamics:
Driver:
Increasing awareness of the benefits of early disease detection
Increasing awareness of the benefits of early disease detection is driving growth in the market, due to advancement in technology, such as AI-powered diagnostics and high-resolution imaging modalities, enhance early detection capabilities. This fosters timely intervention, improving patient outcomes and reducing healthcare costs. Governments and healthcare providers globally are increasingly prioritizing early detection initiatives, fueling demand for innovative medical imaging technologies.
Restraint:
Radiation exposure
Technologies like low-dose CT scans, dose monitoring systems, and lead shielding advancements mitigate risks. Balancing diagnostic efficacy with radiation safety remains pivotal, influencing equipment advancements and operational protocols. Continuous innovation targets reducing exposure without compromising diagnostic quality, promoting safer environments across modalities, enhancing patient care and healthcare provider safety. This is the major factor impeding the growth of the market.
Opportunity:
Rising burden of chronic diseases
Conditions like cardiovascular diseases, cancer, and neurological disorders drive demand for advanced imaging technologies such as MRI, CT scans, and ultrasound. These technologies enable early diagnosis, treatment planning, and monitoring of chronic conditions, contributing to increased market growth. Additionally, aging populations in developed regions and the expanding healthcare infrastructure in emerging economies further propel the demand for medical imaging solutions.
Threat:
Shortage of qualified personnel
In the market, a significant challenge is the shortage of qualified personnel. This shortage impacts the efficient operation of imaging facilities and delays patient care. The demand for skilled radiologists, technicians, and support staff exceeds the available workforce, especially in specialized fields. Addressing this issue requires enhanced training programs, recruitment initiatives, and retention strategies to ensure adequate staffing levels and maintain high standards of diagnostic imaging services.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the market, initially causing disruptions in supply chains and elective procedures. However, it also accelerated the adoption of telemedicine and AI-driven diagnostics. Manufacturers focused on enhancing sanitization protocols and developing safer imaging technologies. Post-pandemic recovery witnessed renewed investments in advanced imaging modalities, driven by the need for faster diagnostics and improved patient outcomes amidst ongoing healthcare challenges.
The mammography systems segment is expected to be the largest during the forecast period
The mammography systems is expected to be the largest during the forecast period. The mammography systems in market encompass devices used for breast cancer screening and diagnosis, including digital and analog systems. Key drivers include rising breast cancer incidence and technological advancements enhancing imaging quality and patient comfort. Market growth is propelled by increased awareness, government initiatives, and healthcare infrastructure development.
The neurology segment is expected to have the highest CAGR during the forecast period
The neurology segment is expected to have the highest CAGR during the forecast period owing to technological advancements enhancing imaging resolution and efficiency. Advanced imaging techniques like functional MRI track brain activity during tasks, aiding in neurosurgical planning and studying cognitive functions. Emerging technologies include diffusion tensor imaging (DTI) for mapping neural connections and molecular imaging for detecting biochemical changes in neurology.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. The region leads globally in terms of market size and innovation, driven by factors such as increasing chronic diseases, aging population, and healthcare expenditure. The market is also buoyed by ongoing advancements in AI and machine learning, enhancing diagnostic accuracy and efficiency. Regulatory frameworks ensure high standards of patient safety and data privacy, fostering trust and reliability among healthcare providers and patients alike.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period driven by increasing healthcare expenditure, technological advancements, and rising demand for diagnostic procedures. Countries like China, Japan, India, and South Korea are significant contributors due to their expanding healthcare infrastructure and adoption of diagnostic imaging modalities such as MRI, CT, ultrasound, and X-ray. The market is also influenced by government initiatives aimed at improving healthcare accessibility and quality across the region.
Key players in the market
Some of the key players in Medical Imaging market include GE Healthcare, Siemens Healthineers, Philips Healthcare, Canon Medical Systems, Hitachi Medical Systems, Hologic, Inc., Carestream Health, Fujifilm Medical Systems, Samsung Medison, Esaote S.p.A., Konica Minolta Healthcare, Mindray Medical International Limited, Medtronic, Stryker Corporation, Neusoft Medical Systems, Allengers Medical Systems Limited and United Imaging Healthcare.
Key Developments:
In January 2024, Canon Medical Systems Corporation along with Olympus Corporation declared their partnership to work together on Endoscopic Ultrasound Systems. Under this agreement, Canon Medical is tasked with the development and manufacturing of diagnostic ultrasound systems for use in Endoscopic Ultrasonography, while Olympus will handle the sales and marketing activities.
In February 2023, GE Healthcare announced that it reached an agreement to acquire a privately held AI healthcare provider, Caption Health, Inc. Caption Health develops clinical applications to help with early disease diagnosis and uses AI to help with ultrasound scans.
Products Covered:
• X-ray Systems
• Magnetic Resonance Imaging (MRI)
• Computed Tomography (CT)
• Ultrasound Systems
• Nuclear Imaging
• Mammography Systems
• Fluoroscopy Systems
• Other Products
Materials Covered:
• Metals
• Polymers
• Ceramics
• Composites
• Glass
Distribution Channels Covered:
• Direct Sales
• Distributors
• Online Platforms
• Specialty Stores
Applications Covered:
• Cardiology
• Oncology
• Neurology
• Orthopedics
• Gastroenterology
• Gynecology
• Other Applications
End Users Covered:
• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Surgical Centers (ASCs)
• Research Institutes
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Medical Imaging Market, By Product
5.1 Introduction
5.2 X-ray Systems
5.3 Magnetic Resonance Imaging (MRI)
5.4 Computed Tomography (CT)
5.5 Ultrasound Systems
5.6 Nuclear Imaging
5.7 Mammography Systems
5.8 Fluoroscopy Systems
5.9 Other Products
6 Global Medical Imaging Market, By Material
6.1 Introduction
6.2 Metals
6.3 Polymers
6.4 Ceramics
6.5 Composites
6.6 Glass
7 Global Medical Imaging Market, By Distribution Channel
7.1 Introduction
7.2 Direct Sales
7.3 Distributors
7.4 Online Platforms
7.5 Specialty Stores
8 Global Medical Imaging Market, By Application
8.1 Introduction
8.2 Cardiology
8.3 Oncology
8.4 Neurology
8.5 Orthopedics
8.6 Gastroenterology
8.7 Gynecology
8.8 Other Applications
9 Global Medical Imaging Market, By End User
9.1 Introduction
9.2 Hospitals
9.3 Diagnostic Imaging Centers
9.4 Ambulatory Surgical Centers (ASCs)
9.5 Research Institutes
9.6 Other End Users
10 Global Medical Imaging Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 GE Healthcare
12.2 Siemens Healthineers
12.3 Philips Healthcare
12.4 Canon Medical Systems
12.5 Hitachi Medical Systems
12.6 Hologic, Inc.
12.7 Carestream Health
12.8 Fujifilm Medical Systems
12.9 Samsung Medison
12.10 Esaote S.p.A.
12.11 Konica Minolta Healthcare
12.12 Mindray Medical International Limited
12.13 Medtronic
12.14 Stryker Corporation
12.15 Neusoft Medical Systems
12.16 Allengers Medical Systems Limited
12.17 United Imaging Healthcare
List of Tables
1 Global Medical Imaging Market Outlook, By Region (2022-2030) ($MN)
2 Global Medical Imaging Market Outlook, By Product (2022-2030) ($MN)
3 Global Medical Imaging Market Outlook, By X-ray Systems (2022-2030) ($MN)
4 Global Medical Imaging Market Outlook, By Magnetic Resonance Imaging (MRI) (2022-2030) ($MN)
5 Global Medical Imaging Market Outlook, By Computed Tomography (CT) (2022-2030) ($MN)
6 Global Medical Imaging Market Outlook, By Ultrasound Systems (2022-2030) ($MN)
7 Global Medical Imaging Market Outlook, By Nuclear Imaging (2022-2030) ($MN)
8 Global Medical Imaging Market Outlook, By Mammography Systems (2022-2030) ($MN)
9 Global Medical Imaging Market Outlook, By Fluoroscopy Systems (2022-2030) ($MN)
10 Global Medical Imaging Market Outlook, By Other Products (2022-2030) ($MN)
11 Global Medical Imaging Market Outlook, By Material (2022-2030) ($MN)
12 Global Medical Imaging Market Outlook, By Metals (2022-2030) ($MN)
13 Global Medical Imaging Market Outlook, By Polymers (2022-2030) ($MN)
14 Global Medical Imaging Market Outlook, By Ceramics (2022-2030) ($MN)
15 Global Medical Imaging Market Outlook, By Composites (2022-2030) ($MN)
16 Global Medical Imaging Market Outlook, By Glass (2022-2030) ($MN)
17 Global Medical Imaging Market Outlook, By Distribution Channel (2022-2030) ($MN)
18 Global Medical Imaging Market Outlook, By Direct Sales (2022-2030) ($MN)
19 Global Medical Imaging Market Outlook, By Distributors (2022-2030) ($MN)
20 Global Medical Imaging Market Outlook, By Online Platforms (2022-2030) ($MN)
21 Global Medical Imaging Market Outlook, By Specialty Stores (2022-2030) ($MN)
22 Global Medical Imaging Market Outlook, By Application (2022-2030) ($MN)
23 Global Medical Imaging Market Outlook, By Cardiology (2022-2030) ($MN)
24 Global Medical Imaging Market Outlook, By Oncology (2022-2030) ($MN)
25 Global Medical Imaging Market Outlook, By Neurology (2022-2030) ($MN)
26 Global Medical Imaging Market Outlook, By Orthopedics (2022-2030) ($MN)
27 Global Medical Imaging Market Outlook, By Gastroenterology (2022-2030) ($MN)
28 Global Medical Imaging Market Outlook, By Gynecology (2022-2030) ($MN)
29 Global Medical Imaging Market Outlook, By Other Applications (2022-2030) ($MN)
30 Global Medical Imaging Market Outlook, By End User (2022-2030) ($MN)
31 Global Medical Imaging Market Outlook, By Hospitals (2022-2030) ($MN)
32 Global Medical Imaging Market Outlook, By Diagnostic Imaging Centers (2022-2030) ($MN)
33 Global Medical Imaging Market Outlook, By Ambulatory Surgical Centers (ASCs) (2022-2030) ($MN)
34 Global Medical Imaging Market Outlook, By Research Institutes (2022-2030) ($MN)
35 Global Medical Imaging Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
