Medical Imaging Market (2026 - 2033) Size, Share & Trends Analysis Report By Technology (X-ray Devices, Computed Tomography, Ultrasound, MRI, Nuclear Imaging), By Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology), By End-use, By Region, And Segment Forecasts

Medical Imaging Market Summary

The global medical imaging market size was valued at USD 43.5 billion in 2025 and is projected to reach USD 64.7 billion by 2033, growing at a CAGR of 5.1% from 2026 to 2033. The increasing prevalence of chronic diseases, surging demand for early disease diagnosis and detection tools, growing geriatric population, rising investments by key players, product innovations, and technological advancements such as integration of artificial intelligence (AI) in medical imaging, and development of point-of-care medical imaging equipment are expected to drive market growth during the forecast period.

The growing geriatric population is significantly influencing the growth of the medical imaging market as aging is associated with an increased risk of chronic diseases such as heart disease, stroke, cancer, and osteoporosis, among others, which often require diagnostic imaging for accurate diagnosis and management. The United Nations Population Division anticipates that the population of individuals aged 65 and above will double in the next 30 years, hitting a total of 1.6 billion by 2050.

The following charts illustrate that the world is heading toward an aging population. Japan has the highest share of elderly population, followed by Italy, Germany, France, and Denmark will have the highest proportions of elderly population in 2022. This is due to significant improvements in life expectancy over recent years, a trend that is expected to continue. By the year 2050, approximately 40% of the population in Hong Kong, South Korea, and Japan will be 65 or older. This marks a substantial increase from the current percentages in highly developed regions, where only about 20% of the population falls into this age group.  

The rise in life expectancy globally is a critical driver for expanding the medical imaging market. As people live longer, they become more susceptible to chronic diseases. Medical imaging plays a pivotal role in accurately diagnosing, managing, and treating these diseases, offering detailed views of the body's internal state without invasive procedures. Therefore, as the global population ages, the demand for diagnostic imaging services is expected to surge, propelling the growth of the medical imaging market. This trend underscores the importance of advanced imaging technologies in meeting the healthcare needs of an increasingly aging population. According to the United Nations, a newborn in 2021 is projected to have an average lifespan of nearly 25 years longer than someone born in 1950, achieving an average age of 71 years, with females typically living five years longer than males.

“The world is ageing fast, and we have only a couple of regions that are still very young, one is Africa,”

-Daniela Bas, director of the Division for Inclusive Social Development at the UN's Department of Economic and Social Affairs.

The growing prevalence of chronic diseases is expected to drive the demand for medical imaging devices. Medical imaging aids in the early and accurate diagnosis of diseases, enabling effective treatment. The U.S. National Center for Health Statistics estimates 1,958,310 new cancer cases and 609,820 cancer-related deaths in the country in 2023. Furthermore, the rise in chronic disorders has significantly boosted the demand for medical imaging, resulting in a global increase in diagnostic imaging tests. A World Health Organization (WHO) report indicates that around 3.6 billion diagnostic tests are conducted worldwide annually, with about 350 million of these exams involving pediatric patients.

R&D in the healthcare sector remains highly competitive and adaptable due to advancing technologies and an uncertain economic climate. Companies prioritize research from fundamental exploration to advanced manufacturing of medical imaging technologies to gain a competitive advantage. Consequently, private and government entities are investing significantly in R&D. For instance, in April 2024, Canon Medical introduced a significant advancement in MRI technology with the launch of the Vantage Galan 3T / Supreme Edition. This cutting-edge system integrates exclusively Canon-produced components, featuring a novel Real-time platform and superior magnet technology crafted in Japan. Additionally, it stands out by offering the most advanced suite of AI capabilities designed for MRI settings, providing a collection of smart solutions that improve image quality, elevate efficiency, and enhance patient comfort.

The integration of Artificial Intelligence (AI) in medical imaging has been a transformative force in the healthcare sector, significantly contributing to market growth. By enhancing the accuracy and efficiency of diagnostic processes, AI algorithms are capable of analyzing complex medical images faster than traditional methods, thereby improving patient outcomes. This technological advancement facilitates early detection of diseases such as cancer and streamlined workflow in radiology departments, reducing the burden on healthcare professionals. Furthermore, AI in medical imaging has opened new avenues for personalized medicine, allowing for treatments tailored to the individual characteristics of a patient's condition. As a result, the demand for AI-powered medical imaging tools is on the rise, attracting substantial investments and fostering innovation within the healthcare industry. For instance, in March 2024, GE Healthcare and Mass General Brigham are set to incorporate foundational models of medical imaging into their AI research initiatives, prioritizing the principles of responsible AI under their prolonged partnership in artificial intelligence (AI). Both entities have been dedicatedly progressing on AI innovations, aiming to broaden the application of AI in various diagnostic and therapeutic areas through the development of AI in a sustainable manner.

“The relationship between Mass General Brigham’s commercial AI business (Mass General Brigham AI) and GE HealthCare has helped accelerate the introduction of AI into a range of product offerings and digital health solutions. With foundation models, we are witnessing the next wave of AI innovation, and it is already reshaping how we build, integrate and use AI,”

-Dr. Keith Dreyer, Chief Data Science Officer, Mass General Brigham.

Technological advancement is driving the industry, particularly through the development and adoption of portable, wearable, and point-of-care (POC) medical imaging devices. These innovations have expanded the capabilities of medical imaging and made it more accessible and convenient. By integrating cutting-edge technologies, the medical imaging sector is now able to offer solutions that can be used outside of traditional hospital settings, enabling continuous monitoring and immediate diagnostics in various environments. This shift towards more mobile and user-friendly devices has the potential to revolutionize patient care, making it easier to diagnose and monitor conditions in real-time, thus significantly improving the efficiency and effectiveness of healthcare services. For instance, in February 2024, Visage Imaging, a diagnostic imaging and multimedia enterprise, introduced its new product, Visage Ease VP. This innovative imaging platform is designed for use with Apple's augmented reality headset, the Apple Vision Pro. The company provides cloud-based, AI-driven enterprise imaging solutions such as Visage 7, Visage Ease, and Visage Ease Pro. These platforms enable users to review diagnostic images and work together with peers. Visage Imaging states that its technology enhances the efficiency and accuracy of radiologists' analyses and their overall workflow.

"The visualization of three-dimensional medical imaging in immersive space creates exciting opportunities to improve patient care,"

-Dr. Paul Murphy, associate clinical professor at UC San Diego School of Medicine and radiologist at UC San Diego Health

Aspen State developed AiRTouch, a portable X-ray system equipped with a built-in touchscreen workstation. The touchscreen workstation allows medical professionals to acquire an image directly from the device and transmit it to a Picture Archiving and Communication System (PACS) without using a PC. The portability of the device proved to be advantageous; various imaging centers in South Korea are using it for medical imaging purposes. For instance, in November 2022, Siemens Healthineers introduced Magnetom Viato Mobile, an MRI unit at 1.5 Tesla. This latest MRI scanner is specifically designed for mobile applications and incorporates a patient bore diameter of 70 centimeters. Therefore, rapid advancements in medical imaging devices are expected to boost their adoption, thereby driving the overall market growth.

Market Concentration & Characteristics

The industry is characterized by a significant level of concentration, with a few major players dominating the industry. Key players such as GE HealthCare, Siemens Healthineers, Koninklijke Philips N.V., Canon Medical Systems Corporation, Fujifilm Holdings, among others, are dominating the medical imaging industry. The industry is in a mature growth stage, with steady technological advancements and incremental innovation. Its pace is relatively fast, driven by rapid technological advancements and the growing demand for early and accurate disease diagnosis. The industry sees a steady stream of innovation, particularly in areas such as artificial intelligence, machine learning, and 3D imaging, which enhance imaging systems' capabilities and improve diagnostic accuracy.

The industry is characterized by a high degree of innovation, with companies consistently developing products that enhance efficiency and safety. For instance, in February 2023, Boston Imaging (a subsidiary of Samsung Medison Co., Ltd.) unveiled the Hera W10 Elite, a specialized version of the Hera platform tailored for obstetrics and gynecology. This advanced model offers clinicians robust Artificial Intelligence (AI) capabilities and clinical applications to improve diagnostic accuracy. Boston Imaging is the U.S. headquarters responsible for marketing, sales, and distribution of all Samsung digital radiography and ultrasound systems.

Regulations play a significant role in the industry, as products must meet stringent safety and efficacy standards set by regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). The impact of regulations can be seen in the lengthy and expensive process of bringing new imaging technologies to market. For instance, in December 2023, The U.S. Food and Drug Administration (FDA) classified the recall of Philips' medical imaging devices, specifically some models of the Panorama 1.0T HFO device (MRI Systems), as the most critical type, indicating that their usage could potentially lead to serious injuries or even fatalities. This action comes in light of concerns that an explosion could occur during a "quench procedure" due to an excessive accumulation of helium gas. Following the announcement, shares of Philips listed in the U.S. saw a decrease of approximately 1%.

Mergers and acquisitions in the industry are rising due to the need for research and development, reflecting the industry's dynamic nature. Companies are leveraging M&A activities to innovate and offer advanced solutions that meet the evolving needs of healthcare professionals. For instance, in July 2022, Canon Medical Systems USA, Inc., a branch of Canon Medical Systems Corporation, finalized the purchase of NXC Imaging, a company based in Minneapolis, Minnesota, specializing in medical devices and services.

Product substitutes in the medical imaging industry include alternative diagnostic methods, such as blood tests and biopsy procedures. However, medical imaging offers unique advantages, such as the ability to visualize internal body structures non-invasively, which often makes it the preferred diagnostic method.

The medical imaging industry is experiencing robust global expansion due to increasing healthcare expenditure, technological advancements, and growing demand for diagnostic services. For instance, in January 2022, Shanghai United Imaging Healthcare Co., LTD is building a manufacturing and R&D center, integrating technology, research, and intelligent manufacturing, with a USD 490 million investment. The campus, spanning 420,000 square meters, will accommodate 8,000 to 10,000 employees, focusing on global branding and international training.

Technology Insights

The magnetic resonance imaging segment accounted for the largest market share of 27.9% in 2025. MRI systems have applications in imaging of various organs, including the abdomen, pelvis, brain, spine, heart, and breast as well as musculoskeletal structures. For instance, in June 2023, GE HealthCare disclosed the FDA endorsement and release of Sonic DL, a deep learning-driven technology that notably expedites image capturing in magnetic resonance imaging (MRI).

“Sonic DL is a paradigm shift for MR enabling high-quality imaging in a single heartbeat,” said Jie Xue, President & CEO, Global MR, GE HealthCare.

Advancements in MRI technology aimed at broadening their application range are predicted to propel market growth in the forecast period. Recent innovations, including diffusion and diffusion tensor imaging using tractography, perfusion imaging, and neuroimaging methods like MR spectroscopy, along with the use of the BOLD technique for functional imaging, are expected to enhance the growth of the magnetic resonance imaging market. Moreover, the growing advancements in intraoperative MRI, along with its varied uses in areas like neurosurgery, are anticipated to contribute to market growth during the predicted timeframe.

The computed tomography segment shows the fastest CAGR over the forecast period. It produces high-resolution images that allow healthcare professionals to visualize internal structures with exceptional clarity, aiding in diagnosing and treating various medical conditions. CT scans are commonly used to detect organ, tissue, and bone abnormalities and guide surgical procedures. With technological advancements, CT imaging has become faster, more accurate, and safer, contributing significantly to medical diagnostics and patient care across various medical specialties. Furthermore, several private and government organizations are investing heavily in R&D. For instance, TriState Health was granted USD 2.5 million in federal funds for its Patient Imaging Project in April 2023. This initiative includes the acquisition of two CT scanners and one MRI scanner. It aims to enhance imaging services and speed up patient diagnoses across a three-state, eight-county region.

Application Insights

The orthopedic imaging segment dominated the medical imaging market in 2025 by capturing 32.4% of the revenue share. The rising in bone injuries and orthopedic conditions, along with the expanding use of imaging technology in orthopedic care, are key drivers behind the growth of the orthopedic imaging market. According to the data published by the WHO in December 2023, about 1.19 million people die each year as a result of road traffic accidents.

The following table shows the number of road accidents, injuries / deaths for the key countries for 2022:

Source: WHO Global status report on road Safety 2023

The cardiology segment is expected to grow at the fastest rate during the forecast period, attributed to increased prevalence of cardiovascular disorders, rising preference towards early disease diagnosis, and growing product innovations specifically for the cardiology applications. For instance, in September 2023, according to the British Heart Foundation, about 620 million people are living with heart and circulatory diseases globally. Moreover, 60 million people around the world develop heart or circulatory disease every year. Therefore, the growing prevalence of CVD is expected to boost the demand for early disease diagnoses, propelling the growth of the market. Furthermore, Siemens, Canon, and Hitachi introduced four new scanners specifically designed for cardiovascular CT at RSNA 2023 (December 2023). These vendors highlighted that their latest models are equipped with improved capabilities for coronary imaging, responding to the increasing market demand for such technologies. The field of Coronary Computed Tomography Angiography (CCTA) has experienced swift expansion and widespread acceptance, especially after receiving a Class 1A endorsement as a primary imaging technique in the 2021 guidelines from the American Heart Association (AHA) and the American College of Cardiology (ACC) for managing chest pain.

"I predict in the next four to five years, we are going to see a lot of growth in cardiac CT and we are going to need more people. We already see that interest coming from the cardiology side. I am talking to colleagues here at RSNA, and there is also interest on the radiology side,"

-Joao Cavalcante, MD, section head for cardiac imaging for the Allina Health Minneapolis Heart Institute,

End-use Insights

The hospitals segment accounted for the largest revenue share of 42.0% in 2025. The hospital segment in the medical imaging market encompasses healthcare facilities primarily providing inpatient and outpatient care, diagnostic services, and treatment interventions. This segment plays a crucial role in adopting and utilizing medical imaging technologies, including X-ray, MRI, CT scans, and ultrasound, to aid in disease diagnosis, treatment planning, and patient health monitoring. For instance, in October 2022, Philips introduced ClarifEye, an Augmented Reality (AR) surgical navigation solution in Japan. The company highlights the positive outcomes of the first treated patients by the International University of Health and Welfare, Mita Hospital in Tokyo, Japan. Hospitals invest significantly in advanced imaging equipment and technology to enhance diagnostic accuracy, improve patient outcomes, and meet the growing demand for medical imaging services driven by an aging population and increasing prevalence of chronic diseases.

The diagnostic imaging centers segment shows the highest CAGR over the forecast period, owing to an increase in awareness about chronic diseases such as cancer, neurological diseases, and neurodegenerative disorders. This has accelerated the demand for CT and MRI procedures used for diagnosis, treatment planning, and prevention of chronic disorders. Additionally, diagnostic imaging centers are focusing on the integration of technology such as AI to enhance their imaging capabilities. For instance, in April 2023, Unilabs partnered with SmartSoft Healthcare to enhance the lumbar spine MRI reading and reporting. This partnership demonstrated the expansion of AI in the field of diagnostic imaging services for improving the efficiency and accuracy.

Regional Insights

North America medical imaging market dominated the overall global market and accounted for a 36.3% revenue share in 2025. This can be attributed to various factors, such as increased adoption of medical imaging technology in primary care settings, improved accessibility, and the presence of high healthcare spending in countries with efficient reimbursement policies. The increasing incidence of chronic diseases in this region, including breast cancer, cardiovascular disorders, and neurological diseases, has created a high demand for imaging analysis. The region is expected to maintain its dominance over the forecast period. Technological innovations and the growing incidence of chronic conditions are anticipated to further propel the market growth in the region.

U.S. Medical Imaging Market Trends

The medical imaging market in the U.S. held a significant share of North America's medical imaging market in 2025, driven by factors such as advancing technologies, changing patient care strategies, and evolving epidemiological patterns. The need for radiologists in imaging continues to be robust nationwide in urban and rural settings. The American Society of Radiologic Technologists reports that about 350,000 radiologists are registered and employed in healthcare environments. Furthermore, projections from the U.S. Bureau of Labor Statistics anticipate a 9% growth in the employment of radiologic and MRI technologists by 2030, resulting in an additional 21,600 job opportunities.

Europe Medical Imaging Market Trends

The medical imaging market in Europeis witnessing growth fueled by increased investments in research and development from the public and private sectors. Moreover, the escalating demand for healthcare equipment and the prevalence of chronic and pain-related conditions in the region are key drivers expected to further boost market expansion.

The UK medical imaging marketis one of the major markets in the region. Increasing General Practice (GP) referrals for MRI examinations in the UK is expected to boost the demand for MRI systems. According to NHS England, in 2021, the total number of MRI examinations performed for NHS patients in England was around 3,544,475. Furthermore, the presence of efficient reimbursement policies and the growing burden of chronic diseases are contributing to the increasing volume of MRI examinations.

The medical imaging market in France is expected to grow over the forecast period due to the growing burden of cancer in the country. According to the International Agency for Research on Cancer, in 2022, there were about 483,568 new cancer cases in the country and 190,612 related deaths. Furthermore, the growing burden of breast cancer is expected to boost the adoption of medical imaging devices.

Germany medical imaging marketis projected to expand in the forecast period owing to a rapidly aging population, growing prevalence of chronic diseases, presence of a sophisticated healthcare system, a highly qualified workforce, and high healthcare spending. Germany has a lucrative environment for technologically innovative startups. Around 80% of the medical device manufacturers, including companies of medical imaging devices in the country are SMEs. The presence of major market players, such as Siemens Healthcare GmbH, is anticipated to create lucrative opportunities in Germany.

Asia Pacific Medical Imaging Market Trends

The medical imaging market in Asia Pacific is expected to grow at the fastest rate during the forecast period. This can be attributed to the rapid growth of the population and increased R&D activity in this region. In addition, there is a high need for traditional and advanced devices in Asia Pacific.

Japan medical imaging marketis expected to grow at the fastest rate in the coming years. This can be attributed to the launch of novel medical imaging devices, which are available at affordable prices, coupled with a growing interest shown by physicians in early clinical interventions.

The medical imaging market in China is expected to grow in the Asia Pacific in 2025. Changes in demographics & disease patterns and growth of the private healthcare sector are among the key factors expected to drive the medical imaging devices market in China. For instance, in May 2020, the China National Medical Product Administration (NMPA) granted system Class III medical product qualification to MGIUS-R3 developed by MGI, the world's first remote robotic ultrasound, allowing it to enter the Chinese market and provide state-of-the-art long-distance ultrasound diagnostic services.

India medical imaging market is expected to grow over the forecast period due to the increasing birth rates, growing awareness about prenatal care, and economic reform activities. Furthermore, many manufacturers are investing and expanding their businesses in this region, boosting the regional market growth. In May 2022, Philips announced the expansion of its Manufacturing and Research and Development Facility in Maharashtra, India. The unit houses the MR radio frequency coil, mobile surgery systems, and ultrasound assembly businesses, among others.

Latin America Medical Imaging Market Trends

The medical imaging market in Latin America is experiencing significant growth attributed to various factors, such as the increasing awareness in the region about chronic disease has led to a substantial number of diagnosed cases, boosting the demand for early disease diagnosis. Furthermore, clinical education through conferences, symposiums, and webinars is becoming crucial in improving the adoption rate of medical imaging devices. For instance, Bracco, a global leader in diagnostic imaging, and the European Society of Radiology (ESR), a non-profit professional organization committed to enhancing and consolidating European radiology, are pleased to announce a renewed collaboration to introduce "Next Generation Radiology" at the European Congress of Radiology (ECR) 2024. Thus, such initiatives are expected to increase the application & reach and awareness of ultrasound technology in Mexico, thereby fueling market growth.

Middle East & Africa Medical Imaging Market Trends

The medical imaging market in the Middle East & Africais anticipated to expand in the forecast period due to technological innovation. The region is focusing on the digitalization of healthcare by leveraging innovative technologies, such as AI, big data, and cloud computing. For example, there are currently 150 health-tech startups in Saudi Arabia. Such advancements are resulting in shorter hospital stays and a rise in the number of surgical procedures, which, in turn, is driving the demand for medical imaging devices.

Kuwait medical imaging marketis expected to grow over the forecast period due to a favorable investment outlook, with the country focusing on investments in the private sector.  Moreover, the country offers medical imaging devices at subsidized rates in the public sector, owing to the plans of Kuwait’s Ministry of Health. This is expected to drive the demand for the medical imaging market and provide significant growth opportunities for players in the country.

Key Medical Imaging Companies Insights

Key players operating in the medical imaging market are undertaking various initiatives to strengthen their presence and increase the reach of their products and services. Strategies such as expansion activities and partnerships are key in propelling the market growth.

Recent Developments

• In March 2024, GE Healthcare developed its latest research model, SonoSAMTrack1, utilizing NVIDIA technology. This innovative model is built upon a promptable foundational model known as SonoSAM1, which is designed for object segmentation in ultrasound imagery. The primary function of SonoSAMTrack is to delineate anatomical structures, lesions, and other critical regions within ultrasound images. Additionally, a more simplified iteration of this model, dubbed SonoSAMLite, has been introduced.

• In January 2024, Canon introduced Aplio me, a cutting-edge shared-service ultrasound system engineered to address the varied needs of everyday users in a broad range of medical environments. This exceptionally portable and light system is ideal for ultrasound experts who prioritize high efficiency in their workflow and seek sophisticated standard solutions, from smaller clinics to major hospitals.

“Aplio me is more than just another ultrasound machine; it is a personalized companion for each individual user, improving their specific workflow and giving them diagnostic confidence with every exam. The highly customizable, user-centric system design ensures that users can not only get their work done quickly and with high quality, but also set up their workplace ergonomically, quietly and efficiently,"

- Akihiro Sano, General Manager of the Ultrasound Systems Division at Canon Medical Systems Corporation in Japan.

• In January 2024, Canon Medical Systems Corporation along with Olympus Corporation declared their partnership to work together on Endoscopic Ultrasound Systems. Under this agreement, Canon Medical is tasked with the development and manufacturing of diagnostic ultrasound systems for use in Endoscopic Ultrasonography, while Olympus will handle the sales and marketing activities. This partnership aims to merge the capabilities of Canon's Aplio i800 diagnostic ultrasound system for EUS with Olympus' Ultrasound Endoscope, aiming to supply advanced EUS equipment to the market, ensuring high-quality imaging diagnostics.

• In November 2023, Canon Medical Systems introduced significant upgrades to its CT product line, featuring the launch of two new scanners. The introduction includes a new premium model (Aquilion ONE / INSIGHT Edition) and a model designed for high efficiency (Aquilion Serve SP), both of which were presented at the Radiological Society of North America Congress (RSNA) happening in Chicago, Illinois, USA.

• In February 2023, GE Healthcare announced that it reached an agreement to acquire a privately held Artificial Intelligence (AI) healthcare provider, Caption Health, Inc. Caption Health develops clinical applications to help with early disease diagnosis and uses AI to help with ultrasound scans.

• In May 2023, Koninklijke Philips N.V. announced the launch of the Philips CT 3500, which is a high-end CT system targeting the requirements of routine radiology and high-volume screening programs.

Medical Imaging Market Report Scope

Global Medical Imaging Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country level and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global medical imaging market report on the basis of technology, applications, end-use, and region:

• Technology Outlook (Revenue, USD Million, 2021 - 2033)

  • X-ray Devices

    • Radiography

    • Fluoroscopy

    • Mammography

  • Ultrasound

    • Handheld

    • Compact

    • Cart/Trolley Based

  • Computed Tomography

    • High end slice CT

    • Mid end slice CT

    • Low end slice CT

    • Cone beam CT

  • Magnetic Resonance Imaging

    • Closed System

    • Open System

  • Nuclear Imaging

    • SPECT

    • PET

• Application Outlook (Revenue, USD Million, 2021 - 2033)

  • Cardiology

  • Oncology

  • Neurology

  • Orthopedics

  • Gastroenterology

  • Gynecology

  • Other Applications

• End-use Outlook (Revenue, USD Million, 2021 - 2033)

  • Hospitals

  • Diagnostics Imaging Centers

  • Others

• Region Outlook (Revenue, USD Million, 2021 - 2033)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait