Medical Imaging Equipment Market Size, Share, By Product (X-Ray Devices, Ultrasound Systems, Computed Tomography Scanners, Magnetic Resonance Imaging Equipment, and Nuclear Imaging Equipment), Modality (Stand-Alone Devices, Portable Devices, and Hand-Held Devices), Application (Oncology, Cardiology, Orthopedics, Neurology, Gynecology, and Others), End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Others), and Region - Trends, Analysis, and Forecast till 2035

• By 2035, the medical imaging equipment market size is expected to reach a valuation of USD 80.6 Billion.
• The market valuation was USD 47.3 Billion in 2024.
• The target market is developing at a CAGR of 5.4%.

In healthcare settings, medical imaging equipment refers to devices that provide visual representations of a patient's internal organs, bones, and tissues. This allows medical professionals to identify and track medical disorders. The increasing technological advancements, rising aging population, and the growing demand for early diagnosis, increasing prevalence of chronic diseases, rising geriatric population worldwide are driving the market growth.

The market is also driven by the rising healthcare expenditure and investments, shift toward minimally invasive procedures, expansion of telemedicine and teleradiology, and regulatory approvals and reimbursement policies, are factors driving the medical imaging equipment market growth. Additionally, medical imaging equipment provides improved image quality, reduced radiation exposure with digital technology, and the ability to monitor treatment progress over time, further contributing to the market expansion.

AI Impact on Medical Imaging Equipment Market:

In medical imaging equipment, artificial intelligence (AI) greatly expands the capabilities of equipment by offering faster, more accurate image analysis, enabling earlier disease detection, better diagnosis, and customized treatment plans through sophisticated algorithms that can detect subtle abnormalities often missed by the human eye. This improves patient outcomes and streamlines workflows for medical professionals. In other words, AI functions as a powerful tool to interpret complex medical images more quickly and accurately than traditional methods.

Key Drivers of Target Market:

Market is Burgeoning due to the Rising Shift Toward Minimally Invasive Procedure

The medical imaging equipment market is driven by the trend toward minimally invasive procedures, which fuels the need for sophisticated imaging technology in operating rooms by increasing demand for advanced imaging systems that provide real-time, high-resolution visualization during complex surgeries. This allows surgeons to perform precise manipulations with smaller incisions, improving patient outcomes and speeding recovery times.

• For instance, in March 2024, according to an article published by Far North Surgery, minimally invasive procedures have revolutionized medicine by offering patients less invasive alternatives to traditional surgeries. These procedures utilize advanced technology to perform surgeries through small incisions, resulting in quicker recovery and fewer complications. These techniques have become increasingly popular among patients seeking advanced medical care, from minimally invasive heart surgeries to laparoscopic procedures for various conditions.

Restraints:

Potential Health Hazards Caused by Medical Imaging Equipment is Restricting the Market Expansion

Radiation from medical imaging equipment, such as CT scans and X-rays, can be harmful to one's health if it is used frequently. Ionizing radiation exposure over an extended period of time can raise the risk of cancer and other illnesses. Furthermore, patients and healthcare professionals may be overexposed due to inappropriate use or a lack of training.

• Counterbalance Statements: Risks can be reduced by creating low-dose imaging systems and implementing stringent radiation safety regulations. Educating medical staff on the best scanning practices will help cut down on needless exposure.

Opportunities:

Growth Opportunities are Expected to Rise Owing to Incorporation of Advanced Technologies With Medical Imaging Equipment

The medical imaging equipment market is expected to grow due to advancements in technology, including AI-driven imaging and machine learning algorithms, which improve accessibility, efficiency, and diagnostic accuracy. Innovations such as 3D and 4D imaging, hybrid imaging, and portable imaging systems will also expand. Teleradiology and cloud-based imaging will promote international healthcare cooperation, while quantum imaging, AR, and VR will revolutionize diagnostics and medical training.

• For instance, in February 2025, Stratasys Ltd. and Siemens Healthineers recently presented the results of a joint research effort that demonstrated the unprecedented accuracy of the solutions offered by Stratasys to enable 3D-printed medical imaging equipment to replicate human anatomy. This collaborative effort significantly improved the quality of complex anatomy medical imaging equipment, allowing surgeons, researchers, and educators to replace simplistic anatomical equipment models for pre-surgery planning and education.

The medical imaging equipment market is segmented into product, modality, application, end-user, and region.

By Product

Based on product, the market is sub-segmented into x-ray devices, ultrasound systems, computed tomography scanners, magnetic resonance imaging equipment, and nuclear imaging equipment. The x-ray devices are the dominating segment of medical imaging equipment market. This is due to its widespread use in diagnosing various conditions, cost-effectiveness, and technological advancements that has enhanced its imaging capabilities.

• For instance, in November 2024, Detection Technology, unveiled a comprehensive portfolio of flat panel X-ray devices at the RSNA 2024 exhibition to advance medical imaging. This unique medical flat panel lineup included 20 solutions that combined high frame rates with exceptional image quality at low doses and a wide dynamic range. The newly enhanced portfolio was optimized for a range of medical applications, including image-guided surgery, wireless radiography, fluoroscopy, oncology, and dental imaging.

By Modality

According to modality the market is trifurcated into stand-alone devices, portable devices, and hand-held devices. The stand-alone imaging devices are attributed to lead the market owing to its extensive imaging capabilities, high-resolution outputs, and ability to integrate into existing healthcare infrastructures. Additionally, these devices are essential for precise diagnosis at specialist imaging centers and hospitals.

• For instance, in August 2021, Leading UPS manufacturer, CENTIEL, had launched a stand-alone UPS device specifically to provide back-up power for medical imaging equipment in the healthcare sector. The solution called PremiumTowerTM Medical Special, was designed with the capability to condition the power to devices such as MRI scanners, which experienced increased currents during the start-up phase.

By Application

The market is divided into oncology, cardiology, orthopedics, neurology, gynecology, and others, on the basis of application. The orthopedics segment is projected to rule over the market due to the rising incidence rate of trauma, and sports injuries among the population, thereby, further boosting the use of medical imaging systems across the healthcare systems.

• For instance, in December 2020, Zebra Medical Vision, the deep-learning medical imaging analytics company, announced its seventh FDA clearance. The latest clearance was for an AI solution to extract bone measurements from X-ray scans, at the same quality as CT scans, for planning orthopedic surgical procedures. Zebra-Med’s novel technology was patented and was expected to transform orthopedic surgery, opening new markets for implant surgeries in places where CT scans and MRIs were not available or affordable for such procedures.

By End-User

Under end-user, the market is categorized into hospitals, specialty clinics, ambulatory surgical centers, and others. The hospitals segment is expected to dominate rhe market as it provides inpatient and outpatient care, diagnostic services, and treatment interventions. Additionally, it is the primary healthcare facility that performs complex diagnostic procedures requiring advanced imaging technology.

• For instance, in June 2024, Sir H.N. Reliance Foundation Hospital embraced new technology in healthcare with the installation of an open MRI machine. Compared to traditional MRI machines, Open MRI is a medical imaging technology that provides patients with a more comfortable and comprehensive experience. Patients who are anxious or uncomfortable in enclosed environments can benefit from its open design, as it will no longer feel constrained or claustrophobic during the procedure.

Regional Insights:

Geographically, the market is cataloged into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America: This is the region with the largest medical imaging equipment market share of 35.43%. This is due to its high healthcare spending, a large number of advanced imaging centers,  a high prevalence of chronic diseases, readily accessible technology, efficient reimbursement policies, and a robust presence of major medical device manufacturers within the region.

• For instance, in November 2024, United Imaging, a global leader in advanced medical imaging and radiotherapy equipment, had installed the world's first uMI Panvivo PET/CT at Pueblo Medical Imaging in Nevada, USA. The uMI Panvivo was a powerful advanced platform that expanded upon United Imaging's fully digital PET/CT portfolio with industry-leading NEMA spatial resolution of 2.9 mm.

Europe: Europe has the highest CAGR in the market. The growth is attributed to its robust healthcare infrastructure, a large aging population, strong emphasis on quality patient care, favorable reimbursement policies for advanced imaging technologies, and the presence of major medical device imaging manufacturers, within the region.

• For instance, in April 2022, Unilabs, the leading European diagnostic services provider, had agreed a partnership with GE Healthcare to provide cutting-edge imaging equipment and digital technology in Portugal. The EUR 45m investment from Unilabs was one of the biggest ever investments in healthcare diagnostics in the country and would help ensure better access to care for thousands of Portuguese patients.

Medical Imaging Equipment Market Report Scope:

Segmentation:

By Product:

• X-Ray Devices
  • Stationary
  • Portable
• Ultrasound Systems
  • Cart/Trolley Based Ultrasound System
  • Compact/Portable Ultrasound System
• Computed Tomography Scanners
  • Stationary
  • Mobile
• Magnetic Resonance Equipment
  • Closed
  • Open
• Nuclear Imaging Equipment
  • SPECT Scanner
  • PET Scanner

By Modality:

• Stand-Alone Devices
• Portable Devices
• Hand-Held Devices

By Application:

• Oncology
• Cardiology
• Orthopedics
• Neurology
• Gynecology
• Others

By End User:

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of the Middle East & Africa

The companies operating in the market are CANON MEDICAL SYSTEMS CORPORATION, GE HealthCare, FUJIFILM India Private Limited, Koninklijke Philips N.V., Siemens Healthcare Private Limited, and others. The key players are adopting strategies, such as building strong clinical partnerships, targeting specific healthcare needs, leveraging digital channels to reach a wider audience, and adopting advanced technologies for the diversification of the market.

Medical Imaging Equipment Market Companies:

• CANON MEDICAL SYSTEMS CORPORATION
• GE HealthCare
• Koninklijke Philips N.V.
• Siemens Healthcare Private Limited
• Narang Medical Limited
• Carestream Health
• Esaote SPA
• Hitachi High-Tech Corporation
• Hologic, Inc.
• Shimadzu Corporation
• FUJIFILM India Private Limited
• Optiscan Imaging Ltd
• PIUR IMAGING
• Subtle Medical, Inc.

View an Additional List of Companies in the Medical Imaging Equipment Market

• In October 2023, Abbott announced that it had launched its new vascular medical imaging platform powered by Ultreon 1.0 Software in India. This first-of-its-kind intra-vascular medical imaging software combined optical coherence tomography (OCT) with the power of artificial intelligence (AI) providing physicians a comprehensive view of blood flow and blockages within coronary arteries. The innovative imaging software could automatically differentiate between a calcified and non-calcified blockage, detect the severity of calcium-based blockages and measure vessel diameter.
• In November 2023, Royal Philips, a global leader in health technology, introduced patients and healthcare providers’ to the #RSNA23, the world’s largest medical imaging conference. Radiologists were looking for solutions to improve the performance of the departments and help patients with optimized workflows, shorter procedure times and user-friendly operations.

Analyst View:

The medical imaging equipment market is growing due to a number of factors, including a shift toward minimally invasive procedures, the expansion of telemedicine and teleradiology, regulatory approvals and reimbursement policies, the growing aging population, the growing demand for early diagnosis, the increasing prevalence of chronic diseases, the growing geriatric population worldwide, and rising healthcare expenditures and investments.

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