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Medical Imaging Market Trends

Report ID: GMI4786
Published Date: Jul 2023
Report Format: PDF

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Medical Imaging Market Trends

The integration of AI and machine learning technologies in radiology is expected to boost the market outlook. AI-powered imaging devices and software improve the efficiency and accuracy of radiographic interpretation to provide additional information that may not be evident to human radiologists. To cite an instance, in July 2022, Philips received FDA 510(k) clearance for its AI-powered and MRI-enhancing smartspeed software to offer three times faster scanning than conventional MRI scanners. The rise in such improvements to reduce errors and enhance patient outcomes will contribute to the market growth.

Authors: Mariam Faizullabhoy , Pratiksha Kamthe

Frequently Asked Questions (FAQ) :

Medical imaging industry size was worth USD 40 billion in 2022 and is poised to grow at 5.5% CAGR from 2023 to 2032 propelled by the incremental innovations and advancements in medical imaging technology.

The x-ray devices segment accounted for more than 32% of revenue share in 2022 and is estimated to generate USD 22.6 billion by 2032 driven by the high prevalence of serious diseases including cancer, TB, and heart and chest ailments worldwide.

North America medical imaging market size is poised to witness considerable growth at 5.3% CAGR from 2023-2032 owing to the strong presence of advanced healthcare facilities in diagnostic centers and hospitals

Some leading companies operating in the medical imaging industry are Koninklijke Philips N.V., Canon Medical Systems Corporation, Fujifilm Holdings Corporation, GE Healthcare, Konica Minolta, Inc., Hologic Inc., Samsung Medison Co., Ltd., Siemens Healthineers, Carestream Health Inc., and Esaote SpA.