Medical Imaging Market Size & Outlook, 2025-2033

Medical Imaging Market Overview

The global medical imaging market size was valued at USD 41.33 billion in 2024 and is projected to reach from USD 43.27 billion in 2025 to USD 62.48 billion by 2033, growing with a CAGR of 4.70% during the forecast period (2025–2033). The growth of the market is attributed to aging population and technological developments.

Key Market Indicators

• North America dominated the medical imaging industry and accounted for a 37.3% share in 2024, fueled by advanced imaging adoption, rising chronic diseases, and launches like Siemens’ Somatom On.site and Micro-X’s lightweight mobile CT scanner.
• Based on product, the x-ray imaging held the largest share of approximately 32.86% of the market in 2024, owing with broad diagnostic use, affordability, and AI-driven innovations like ContextVision’s Altumira, enhancing precision and safety.
• Based on application, cardiology dominates the imaging market, driven by rising CVD prevalence, need for early detection, and AI-powered innovations like GE HealthCare’s real-time solutions.
• Based on end user, hospitals dominate medical imaging with advanced infrastructure, diverse services, and integration across specialties, exemplified by MSSH’s 2024 imaging-focused launch in Madurai.

Market Size & Forecast

• 2024 Market Size: USD 41.33 billion
• 2033 Projected Market Size: USD 62.48 billion
• CAGR (2025–2033): 4.70%
• North America: Largest market in 2024
• Europe: Fastest-growing region

Medical imaging scans the whole body or specific body parts for diagnosing medical conditions or disorders. Medical imaging equipment comes in two types, portable and standalone, and is used in the hospital, diagnostic centers, and home care settings. Through non-invasive methods, medical imaging enables doctors to accurately evaluate patients' bones, organs, tissue, and blood vessels. The procedures guide doctors performing joint replacements or the treatment of fractures, assist other procedures involving the implantation of devices inside the body, locate tumors for treatment and removal, find blood clots or other blockages, and help determine whether surgery should be performed. In general, medical imaging has improved diagnosis and treatments by significantly lowering the amount of guesswork performed by doctors, enabling them to treat patients' illnesses and injuries effectively.

With the rising prevalence of chronic diseases and increasing awareness regarding the importance of early diagnosis are driving the global medical imaging market. The market growth is further supported by the growing number of hospital and diagnostic centers and rising per capita spending on healthcare in developing regions.

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Market Growth Factors

Aging Population

The aging population is a global concern, and in the majority of nations, its share in the total population is growing. The fall in reproduction rates and the improvement in healthcare quality, which has led to higher survival rates, are credited with this rise. In accordance with a report released by the UN, there will be 2.1 billion people in the world who are 60 years of age or older by 2050. Additionally, it is anticipated that between 2017 and 2050, there will be 325 million more people worldwide who are 80 years of age or older. Growth in aging populations is associated with a rise in the prevalence of chronic diseases. Additionally, as people age, falls are a significant concern that frequently results in hospital admissions and injuries in the elderly.

Technological Developments

The development of advanced imaging equipment is one of the drivers fueling the market's expansion. The increasing usage of potent AI-enabled diagnostic equipment for quick diagnosis and predictive analysis in developed countries is one of the main factors anticipated to considerably contribute to the rising product demand throughout the projection period. Only a few market companies are now providing AI-enabled imaging technology to the healthcare industry. The system is portable and lightweight with several artificial intelligence (AI)-based capabilities for smart workflows and cardiology features. Moreover, computer vision is used to diagnose conditions that the human eye cannot perceive. The availability and adoption of AI-enabled technology and computer vision are predicted to boost demand and support the growth of the medical imaging sector.

Market Restraint

Frequent product recalls a major concern for the market. There are several notable instances of medical imaging equipment recalls that have impacted the industry, highlighting concerns over safety and quality control.

• In June 2025, Philips issued a Class 2 recall for its Spectral CT systems due to a software glitch. This glitch could cause unintended movement of the gantry or table during scans. The issue posed potential risks of patient injury or equipment damage.

Furthermore, in June 2025, Philips again recalled its Interventional Imaging System due to safety concerns. The issue involved potential loss of X-ray function during procedures. The FDA flagged this as a risk to patient safety.

These instances underscore the importance of stringent quality control and safety measures in the manufacturing and deployment of medical imaging equipment. Such recalls not only impact patient safety but also have significant implications for healthcare providers, including financial costs and potential disruptions in service delivery.

Market Opportunity

Telemedicine Proving as A Boon for the Market.

The surge in telemedicine and remote monitoring, particularly in the Asia-Pacific region post-COVID-19, has significantly impacted the medical imaging market. This shift has led to the development and deployment of innovative imaging solutions tailored for remote diagnostics, enhancing accessibility and efficiency in underserved areas.

• In August 2025 Samsung India, in collaboration with NeuroLogica, launched a new range of mobile CT products, including the CereTom Elite, OmniTom Elite, OmniTom Elite PCD, and BodyTom 32/64.

These AI-powered, portable CT systems are designed to provide advanced diagnostic imaging in various medical environments such as ICUs, operating rooms, and emergency departments. Their mobility and minimal infrastructure requirements aim to make high-quality imaging more accessible.

Regional Insights

North America is expected to dominate the market, owing to the developed healthcare infrastructure and services and increased prevalence of chronic diseases. The development of the sector in the region will be aided by the accessibility of advanced medical imaging modalities like portable ultrasonography and portable CT scanners that provide quick and pertinent health information for clinical evaluation.

• In May 2025 Siemens Healthineers launched the Somatom On.site mobile stroke unit. This mobile CT scanner is equipped with a digital platform called Stroke Connect, enabling remote assessment of clinical patient data by hospital physicians. It is designed to provide immediate imaging for stroke patients, facilitating timely treatment decisions.

• In February 2025, Micro-X announced the development of a lightweight, full-body mobile CT scanner, supported by a contract from the U.S. Advanced Research Projects Agency for Health (ARPA-H). Utilizing Nano Electronic X-ray (NEX) technology, this scanner is significantly lighter than traditional models, making it suitable for deployment in ambulances and mobile clinics.

The demand for these systems will rise as more specialties including cardiology, emergency medicine, obstetrics and gynecology, and critical care anesthesiology for ICU patients adopt these technologies. In addition, the growing elderly population in the region will increase the need for medical imaging equipment to diagnose and treat diseases effectively.

Europe Market Trends

Europe is expected to account for a significant share of the market based on the strong presence of major players in the region and a highly aware population regarding early diagnosis of severe diseases, including cancer and cardiovascular diseases. One of the major growth factors in this area is the significant investments made in the creation of high-tech medical imaging products and services. Growth has also been supported by the high disposable incomes of this country's population and the high healthcare costs. The market is also projected to expand, given the presence of a few well-known companies that provide medical imaging services, including Siemens and Accenture. Due to the growth of chronic diseases and the development of a technologically sophisticated health system, Germany is currently leading the European market.

Asia Pacific Market Trends

Asia Pacific is the fastest growing market for medical imaging due to a huge population suffering from chronic diseases, increasing prevalence of cardiovascular disease, and developing healthcare and diagnostic infrastructure. Other factors anticipated to drive the growth of this market in APAC include an aging population, an increase in hospitals and diagnostic centers, supportive government policies and initiatives, rising healthcare costs, improved infrastructure, and a growing concentration of key players in this region. Additionally, several products are anticipated to be released throughout the course of the forecast year due to technological progress in the field, which may also have a beneficial impact on market growth. For instance, Philips announced the launch of Lumify, its portable ultrasound device, in Japan in July 2020. The primary purpose of the highly customizable Lumify system is to provide quick and easy access to diagnostic ultrasound imaging. The market's growth is accelerating as a result of such product introductions.

Middle East and Africa Market Trends

The Middle East & Africa is expected to grow significantly, owing to rising per capita income and healthcare expenditure. Latin America is expected to account for the least share of the global market owing to the poor healthcare infrastructure and lack of awareness regarding the severity of chronic diseases being diagnosed late. Cancer and cardiovascular diseases, technological advancements, the development of medical imaging reagents, and the high unmet need for medical and diagnostic imaging procedures are the factors that are driving the Middle East and African medical imaging market. Furthermore, the growing geriatric population is anticipated to increase demand for medical imaging because older people are more likely to suffer from chronic conditions.

Market Segmentation

Product Insights

X-ray imaging dominates the market due to their broad applications, affordability, and accessibility. They are widely used for routine diagnostics like fractures and chest imaging, and advancements in digital and portable X-ray technologies boost their adoption.

• For instance, in April 2024, ContextVision launched its enhanced AI-powered Altumira series for X-ray imaging. The static imaging solution features scatter correction for gridless acquisition with lower radiation doses, while Altumira Plus offers improved noise suppression and detail visualization for dynamic imaging, advancing precision and safety.

Application Insights

The cardiology segment dominates due to the rising prevalence of cardiovascular diseases, demand for early detection, and advancements in imaging technologies like AI-driven cardiac imaging, which improve diagnostic accuracy and treatment outcomes.

• For instance, in August 2024, GE HealthCare showcased AI-powered cardiology solutions at ESC 2024, enabling real-time cardiac imaging at the point of care. This highlights the growing role of AI in advancing the cardiology segment of the medical imaging market.

End-User Insights

Hospitals segment dominates the medical imaging market due to their high patient footfall, advanced infrastructure, and ability to offer a wide range of imaging services. They are equipped with equipment, such as MRI, CT, and PET scanners, enabling them to handle complex diagnostic needs. Additionally, hospitals integrate imaging services with various clinical departments, ensuring seamless diagnosis and treatment planning.

• For instance, in July 2024, Meenakshi Super Speciality Hospital (MSSH) opened in Madurai, focusing on advanced medical technology, including medical imaging solutions. The hospital integrates diagnostic imaging and interventional radiology across specialties like cardiac care, cancer therapy, and neurosciences.

List of key players in Medical Imaging Market

1. Siemens Healthcare
2. Philips Healthcare
3. Varian Medical Systems
4. GE Healthcare
5. Hologic Inc.
6. Carestream
7. Hitachi Medical Corporation
8. Samsung Medison
9. Toshiba Medical Systems Corporation
10. Shimadzu Corporation
11. Aribex Corporation
12. Fujifilm Corporation
13. Canon Medical Systems Corporation
14. Carl Zeiss Meditec AG

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Recent Developments

• August 2025: Scientists at Arizona State University have developed NasRED, a $2 gold nanotech blood test that can detect multiple diseases, including COVID-19, Ebola, and HIV, in minutes. This is a significant R&D advancement in rapid diagnostics.
• May 2025: Philips introduced the MobileDiagnost wDR, a new mobile digital radiography system designed for use at the patient's bedside.
• May 2025: Canon Medical Systems unveiled its Aplio i-series PRISM Edition, a new cardiac ultrasound system with advanced imaging and quantification features.