Medical Imaging Market - By Product, By End Use, Global Forecast, 2025 - 2034

Report ID: GMI4786

Published Date: August 2025

Report Format: PDF

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Medical Imaging Market Size

The global medical imaging market was valued at USD 43.9 billion in 2024 and is projected to grow from USD 46 billion in 2025 to USD 75.8 billion by 2034, expanding at a CAGR of 5.7%. The growth of the market is driven by several factors, including rising disease burden along with rapidly growing geriatric population base, technological advancement of medical imaging systems, and growing healthcare expenditure in both developing and developed countries.

Medical Imaging Market

Medical imaging uses various technologies in order to create visual representations of the interior part of the body for medical intervention and clinical analysis. Key players in this market include GE HealthCare Technologies, Siemens Healthineers, Koninklijke Philips, Canon Medical Systems, and Fujifilm Holdings.

The market value increased from USD 38.2 billion in 2021 to USD 41.9 billion in 2023. This growth was primarily driven by the increasing prevalence of various chronic disease conditions such as cancer, cardiovascular conditions, neurological disorders, and others. For instance, in 2021, as per data from the World Health Organization (WHO), non-communicable diseases were responsible for 43 million deaths worldwide, among which cardiovascular disease was responsible for at least 19 million deaths, followed by cancer with 10 million, chronic respiratory diseases with 4 million, and diabetes with over 2 million deaths. Thus, as the prevalence of these chronic diseases continues to grow, so does the need for an effective medical imaging tool for early disease diagnosis, propelling the market growth.

Moreover, with the global population growing and aging, the necessity of performing various diagnostic imaging to diagnose age-related conditions, especially the musculoskeletal conditions among the elderly population is on the rise. For instance, the World Health Organization (WHO) projected that by 2030, the population of individuals belonging to the age group 60 will reach 1.4 billion from 1 billion in 2020, and further the population of this age group will reach 2.1 billion by 2050. Moreover, by 2050, two third of this population will be part of middle- and low-income countries. Thus, this rising aging population stimulates the need for advanced medical imaging devices such as CT, MRI, X-ray to diagnose the age-related condition, thereby promoting the market growth.

Medical imaging has become essential in modern healthcare due to its ability to enhance diagnostic accuracy and treatment planning. With the ongoing technological advancements, these systems provide high-resolution images that help healthcare providers diagnose and monitor a wide range of conditions. For instance, the Siemens Healthineers’ SOMATOM X.ceed CT scanner provides exceptional resolution and rapid imaging speeds, which not only boost diagnostic accuracy but also help to improve workflow efficiency. Thus, this scanner’s ability to capture complex details of soft tissues, bones, and blood vessels makes it particularly valuable in diagnosing complex conditions, such as cancer, cardiovascular diseases, and musculoskeletal disorders.

Medical imaging uses various technologies in order to create visual representations of the interior parts of the body for medical intervention and clinical analysis. These imaging technologies help healthcare professionals monitor and diagnose diseases, assess injuries, and guide treatment plans by providing detailed images of tissues, organs, and bones. Common medical imaging devices include CT scanner, medical X-ray, magnetic resonance imaging (MRI) systems, ultrasound, and others.

Medical Imaging Market Trends

Numerous initiatives by governments and healthcare organizations to raise awareness about early disease diagnosis, such as cancer and other chronic disease conditions, are expected to foster the progress of the market.
A specific campaign targeted by the Pan American Health Organization, St. Jude Children's Research Hospital, and Childhood Cancer International seeks to equip parents, caregivers, and health professionals in some parts of Latin America and the Caribbean with knowledge on the earliest warning signs of the leading childhood and adolescent cancers.
Furthermore, February 15th is celebrated as International Childhood Cancer Day to promote support for children suffering from cancer. This day aims to promote awareness among people about the most common forms of pediatric cancer.
Therefore, as the awareness of cancer increases, so does the demand for effective and technologically advanced diagnostic tools such as medical imaging devices for the precise and early detection of chronic disease conditions such as cancer.
Moreover, in developed markets, the expansion of medical imaging devices has been facilitated by improvements in technology that have optimized scan times, improved imaging quality, and made room for personalized care.
Recent advances in hardware and data acquisition have enhanced treatment planning and diagnostic accuracy by accelerating data gathering and creating more intricate images.
For instance, advanced MRI systems with higher magnetic field strengths have revolutionized imaging contrast in cardiac workflow and increased imaging capabilities for lungs, while non-MRI conditional implantable devices such as ScanWise software from Philips, have enabled automatic protocols for embedded patients.

Medical Imaging Market Analysis

Medical Imaging Market, By Product, 2021 – 2034 (USD Billion)

The global market was valued at USD 38.2 billion in 2021. The market size reached USD 41.9 billion in 2023, from USD 40.1 billion in 2022.

Based on the product, the market is segmented into X-ray devices, MRI, ultrasound, computed tomography, nuclear imaging, and mammography. The X-ray devices segment dominated the market in 2024, holding the largest share due to the rising adoption of x-ray devices for the early-stage diagnosis of various chronic disease conditions. This segment was valued at USD 13.5 billion in 2024 and is projected to reach USD 22.6 billion by 2034, growing at a CAGR of 5.4%. This growth is largely attributed to the rising prevalence of chronic disease conditions and the aging population across the globe. In comparison, the ultrasound segment, valued at USD 8.6 billion in 2024, is expected to grow to USD 15.1 billion by 2034, with a CAGR of 5.8%.

The growth of the segment is owing to the technological advancement in X-ray devices.
For instance, digital X-ray systems, such as Siemens Healthineers AG's YSIO X, offer superior imaging with better contrast and high resolution, which are important parameters for accurate diagnosis. The turnaround time of this device is significantly less, it captures and processes the images quickly, ultimately reducing the patient’s waiting time.
Moreover, this system features AI supported imaging solutions, which are tested and evaluated in multicenter studies, ensuring consistent results and reducing the strain on physicians.
Therefore, such technological advancements are stimulating the adoption of medical X-ray devices among the healthcare providers, accelerating the growth of segment in the fast-pacing market of medical imaging.

Medical Imaging Market, By End Use (2024)

Based on end use, the medical imaging market is segmented into hospitals, diagnostic centers, and other end users. The hospitals segment accounted for the highest market share of 52.6% in 2024.

The growth of the segment is highly attributed due to the rising numbers of hospitals, stimulated by increasing populations, urbanization, and innovations in medical technology, which are boosting demand for advanced medical imaging systems.
Moreover, the high availability of skilled personnel to operate medical imaging systems and other advanced machines, as well as other procedures performed in hospitals, further strengthen the growth of the segment.
Additionally, emerging markets in regions are experiencing significant investments in hospital infrastructure. Governments and private investors are focusing on building new hospitals and upgrading medical imaging departments to address the growing demand for advanced healthcare services.
For instance, the UK's Department of Health and Social Care is investing EURO 15 million from its Official Development Assistance (ODA) budget to enhance healthcare infrastructure and workforce in Kenya, Nigeria, and Ghana. This investment, spanning from 2022 to 2025, aims to optimize and expand healthcare capacity in these African nations, thereby strengthening their resilience against global health threats.
Therefore, as the healthcare investment increases for building and establishing new hospitals in various countries, so does the demand for technologically advanced medical imaging devices to meet the growing patient need, propelling the segment’s growth.

U.S. Medical Imaging Market, 2021 – 2034 (USD Billion)

North America dominated the medical imaging market, with the highest market share of 38.2% in 2024. The region’s advanced healthcare infrastructure, and the high rate of adoption of innovative medical imaging products is accelerating the market growth in the region.

The U.S. market was valued at USD 13.3 billion and USD 14 billion in 2021 and 2022, respectively. In 2024, the market size reached USD 15.1 billion from USD 14.5 billion in 2023.
The prevalence of cancer in the U.S. is on the rise due to several factors, such as environmental hazards and an unhealthy lifestyle that involves smoking.
According to projections from the American Cancer Society, estimated that in 2024, there will be approximately 2,001,140 new cancer cases and 611,720 deaths resulting from the disease.
Therefore, as the number of cancer cases in the country increases, so does the demand for an effective and technologically advanced medical imaging system for early detection and staging of cancer, thereby accelerating market growth in the country.

Europe medical imaging market accounted for USD 12.9 billion in 2024 and is anticipated to show lucrative growth over the forecast period.

The growth of the market in the region is primarily driven by technological advancements in medical imaging devices. Innovations such as 3D/4D imaging, high-resolution MRI and CT scanners, and integration of artificial intelligence are enhancing diagnostic efficiency and precision, making imaging more accessible in the region.
Moreover, governments across European countries are investing in healthcare infrastructure, further supporting the adoption of medical imaging systems across the region. For instance, as per the estimates, more than EURO 10 billion investment is planned for the healthcare infrastructure by the member countries of the European Union during 2021 to 2027.

The UK medical imaging market is projected to experience steady growth between 2025 and 2034.

The rising aging population is one of the significant catalysts for the growth of the market in the country.
According to the UK Parliament’s House of Commons, approximately 12.7 million senior citizens aged 65 and older resided in the UK in 2022, equated nearly to 19% of the entire population. The Office for National Statistics (ONS) estimates that the population of this group may reach 22.1 million by 2072, which will account for 27% of the overall population.
Therefore, as the aging population increases, so does the prevalence of age-related health conditions such as cancer, cardiovascular ailments, and other neurological disorders, stimulating the need for medical imaging systems tailored for the detection and diagnosis of various chronic disease conditions associated with the aging population, thereby fostering the market growth.

The Asia Pacific region is projected to be valued at USD 10.5 billion in 2024 and is expected to reach USD 18.4 billion by 2034.

The growth in the region is primarily driven by the rising prevalence of chronic diseases such as cancer and infectious diseases. For example, data from the Journal of Wiley indicates that in 2022, nearly 49.2% of all cancer cases were reported in Asia.
Therefore, as the incidence of these chronic conditions continues to rise, the demand for effective diagnostic tools such as medical imaging devices is anticipated to rise.

Japan medical imaging market is poised to witness lucrative growth between 2025 - 2034.

Japan has one of the fastest aging populations globally. As per estimates, Japan has around 36.25 million people aged 65 years and above, which leads to one-third of the entire Japanese population.
Further, the rising incidence of cardiovascular diseases in Japan is accelerating the market growth. For instance, according to the report from the World Heart Federation Japan recorded approximately 371,917 deaths due to cardiovascular diseases in 2021, highlighting the significant disease burden within the population and the increasing demand for effective solutions.
Thus, this demographic shift has created awareness among the healthcare providers and policymakers for the need for effective strategies to overcome chronic diseases and their related health conditions, thereby propelling the adoption of advanced medical imaging devices for early disease diagnosis, stimulating the market growth in the country.

Brazil is experiencing significant growth in the medical imaging market.

The rising prevalence of chronic diseases such as cancer, cardiovascular diseases, neurological disorders, and other is contributing to the growth of the market in the country.
For instance, the Brazilian National Cancer Institute (INCA) reported to expect more than 704,000 new cancer cases annually from 2023 to 2025.
Additionally, there has been growing awareness about the benefits of early disease detection and prevention, driven by public health initiatives and education campaigns, which is encouraging individuals to undergo health check-ups. This trend is expected to foster market growth through 2034.

The medical imaging market in Saudi Arabia is expected to experience significant and promising growth from 2025 to 2034.

The increasing need for diagnostic imaging solutions, fueled by public health campaigns and national screening initiatives, is resulting in significant market growth in the region.
Moreover, government initiatives and healthcare projects are increasing access to medical imaging solutions in the country.
For instance, according to the Saudi Ministry of Health, in 2023, the government had allocated around USD 50.4 billion budget for healthcare and social development.
Thus, such investment is anticipated to enhance the accessibility and quality of medical imaging services, which is estimated to reach USD 1.07 Trillion by 2024, among the individuals of the country, accelerating the market growth in the country.

Medical Imaging Market Share

Key players, including GE HealthCare Technologies, Siemens Healthineers, Koninklijke Philips, Canon Medical Systems, and Fujifilm Holdings collectively hold 89.5% of the global market share. These companies maintain their leadership through diverse product portfolios, strategic collaborations, regulatory approvals, and ongoing innovation. GE HealthCare Technologies Inc stands out due to their comprehensive range of medical imaging systems, widely adopted in hospitals and diagnostic centers.
GE HealthCare Technologies and Siemens Healthineers have strengthened their market positions through product launches and expansions. In February 2024, GE HealthCare Technologies Inc. unveiled its next-generation LOGIQ ultrasound portfolio, led by the introduction of the LOGIQ Totus system. This advanced imaging solution combined AI-powered decision support, voice control, and Verisound digital tools to boost diagnostic accuracy and streamline workflows across both general and specialized care settings. Engineered with ergonomic precision and intelligent automation, the LOGIQ Totus exemplified GE HealthCare’s commitment to delivering clinically robust and user-friendly ultrasound innovations tailored for modern healthcare environments. The launch strengthened the company’s competitive position in the market.
Furthermore, in July 2025, Siemens Healthineers invested USD 150 million in new projects and expanded U.S. facilities to boost manufacturing and R&D capabilities. This move is expected to strengthen its commitment to the U.S. market, supporting medical imaging innovation, and enhance supply chain resilience.

Medical Imaging Market Companies

Few of the prominent players operating in the medical imaging industry include:

Canon Medical Systems
Carestream Health
Esaote
Fujifilm Holdings
GE HealthCare Technologies
Hologic
Konica Minolta
Koninklijke Philips
Samsung Medison
Shimadzu
Siemens Healthineers
GE HealthCare Technologies

GE HealthCare Technologies has a strong global workforce of approximately 51,000+ employees, which enables the company to drive innovation, and deliver high-quality solutions.

Koninklijke Philips

Koninklijke Philips has a robust geographical presence, which enables it to enhance its market reach. Koninklijke Philips operates in more than 100 countries, thus comprising of a strong distribution network.

Canon Medical Systems

Canon offer wide array of advanced diagnostic imaging solutions such as advanced CT scanners including Aquilion Precision, Aquilion ONE / INSIGHT Edition and others to enable early and accurate disease detection.

Medical Imaging Industry News:

In November 2024, FUJIFILM Healthcare Americas Corporation introduced the SCENARIA View Focus Edition CT system in the U.S., incorporating advanced Cardio StillShot technology for enhanced cardiac imaging. This innovation strengthened FUJIFILM Holdings Corporation's market presence in medical imaging and expanded its portfolio of cardiac imaging solutions.
In September 2024, Samsung Medison Co., Ltd. introduced the HERA Z20, a high-end ultrasound system tailored for OB/GYN applications. Equipped with advanced AI features such as Live ViewAssist, Live Q-scan, and A-Focus, the system delivers real-time diagnostics that significantly improve the speed and precision of fetal and uterine evaluations. With its ergonomic design, eco-conscious engineering, and intelligent automation, the HERA Z20 represents a major leap forward in women’s health imaging. This strategic launch strengthened Samsung Medison’s competitive position in the medical imaging market.
In June 2024, Esaote introduced the MyLabE80 at the SIRM Congress in Milan, aiming to support professionals handling complex clinical cases. Designed with AI-driven automation, ergonomic features, and adaptable probe configurations, the MyLabE80 offered a versatile solution tailored to diverse diagnostic needs. This strategic launch aligned with Esaote’s broader goal of expanding its advanced imaging portfolio across varied clinical environments, reinforcing its commitment to innovation and precision in medical imaging.
In February 2024, Koninklijke Philips N.V. launched the Philips CT 5300, an advanced X-ray CT system equipped with AI capabilities for diagnostics, interventional procedures, and screening. This system improved diagnostic accuracy, workflow efficiency, and uptime, reinforcing Philips' position in the medical imaging sector and highlighting its dedication to healthcare innovation.

The medical imaging market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million and from 2021 – 2034 for the following segments:

Market, By Product

X-ray devices
- Digital
  - Direct radiography systems
  - Computed radiography systems
- Analog
MRI
Ultrasound
- 2D Ultrasound
- 3D Ultrasound
- Other ultrasounds
Computed tomography
Nuclear imaging
Mammography