Medical Imaging Equipment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Medical Imaging Equipment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Medical Imaging Market

The global medical imaging market size was USD 40.33 billion in 2023 and is expected to grow from USD 42.67 billion in 2024 to USD 70.19 billion in 2032, exhibiting a CAGR of 6.4% during the forecast periodfrom 2024 to 2032.

COVID-19 impacted the global market hard, with fewer people visiting hospitals, causing important game fans such as General Electric Company, Koninklijke Philips N.V., and Siemens Healthcare GmbH to see enormous revenue decreases in 2020.

The market enlargement in medical imaging is being driven by means of key corporations' RnD attention on technologically state-of-the-art structures to fulfill growing call for for imaging services. Furthermore, improved product approvals and releases incorporating AI and system getting to know capabilities are propelling marketplace boom.

The medical imaging market is witnessing an increase pushed through the advent of technologically superior equipment, particularly AI-enabled diagnostic equipment. These improvements facilitate fast prognosis and predictive evaluation, specially in developed international locations. This trend is expected to boost product call for notably, highlighting the increasing adoption of AI in medical imaging for advanced affected person care. Additionally, the increasing demand for AI-enabled diagnostic tools reflects a shift towards more efficient and accurate healthcare solutions, driving further market expansion and technological innovation.

Comprehensive Analysis of Medical Imaging Market

Segmentation in the medical imaging market share is runs the market beacuse it allows the companies to target precise customers with tailored offerings and solutions.The medical imaging market is divided into different types of imaging techniques like Magnetic Resonance Imaging (MRI), Computed Tomography (CT), X-ray, Ultrasound, and Molecular Imaging. These techniques are used for various purposes such as studying the heart (Cardiology), brain (Neurology), bones and joints (Orthopedics), female reproductive system (Gynecology), detecting cancer (Oncology), and others. They are used by different places like Hospitals, Specialty Clinics, Diagnostic Imaging Centers, and other healthcare facilities.

Asia Pacific leads the global clinical imaging marketplace because of its extensive marketplace size in 2023, valued at USD 15.35 billion, and is expected to witness the best increase fee through 2032. This is attributed to the place's growing occurrence of chronic diseases and call for advanced diagnostic gadgets. Furthermore, the huge and aging mounted base of imaging gadget, coupled with speedy healthcare infrastructure development, especially in China and India, drives marketplace enlargement.

Key players within the scientific imaging market, with their large distribution networks, robust portfolios, and sturdy brand presence, consolidate marketplace dominance. Their strategic positioning drives marketplace boom, fostering innovation and enhancing accessibility to imaging technologies.Key players in the medical imaging market include Siemens Healthcare GmbH (Germany), Hitachi, Ltd. (Japan), and Shimadzu Corporation (Japan), General Electric (U.S.), Koninklijke Philips N.V. (Netherlands), Hologic, Inc. (U.S.), Samsung (South Korea), and Fujifilm Holdings Corporation (Japan).

In September 2023, GE Healthcare and Mayo Clinic joined forces to take medical imaging and theranostics to the next level. Their mission? To arm doctors with cutting-edge tools for pinpoint accuracy in diagnosis and tailor-made treatments, making healthcare more personal and effective for patients.

Segementation Table

Global Medical Imaging Market Scope

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 6.4% from 2024-2032

Unit Value (USD Billion)

Segmentation By Type

Magnetic Resonance Imaging

Computed Tomography

X-ray

Ultrasound

Molecular Imaging

By Application

Cardiology

Neurology

Orthopedics

Gynecology

Oncology

Others

By End User

Hospitals

Specialty Clinics

Diagnostic Imaging Centers

Others

By Geography

North America (By Type, By Application, By End User, and by Country)

- U.S. (By Type)

- Canada (By Type)

Europe (By Type, By Application, By End User, and by Country)

- U.K. (By Type)

- Germany (By Type)

- France (By Type)

- Italy (By Type)

- Spain (By Type)

- Scandinavia (By Type)

- Rest of Europe (By Type)

Asia Pacific (By Type, By Application, By End User, and by Country)

- China (By Type)

- Japan (By Type)

- India (By Type)

- Australia (By Type)

- Southeast Asia (By Type)

- Rest of Asia Pacific (By Type)

Latin America (By Type, By Application, By End User, and by Country)

- Brazil (By Type)

- Mexico (By Type)

- Rest of Latin America (By Type)

Middle East & Africa (By Type, By Application, By End User, and by Country)

- GCC (By Type)

- South Africa (By Type)

- Rest of Middle East & Africa (By Type)


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