Medical Imaging Devices Market to Hit USD 61.58 Billion by 2032 | SNS Insider

Rising demand for advanced diagnostics, AI-driven imaging, and healthcare expansion drive 5% CAGR growth from 2024-2032.

AUSTIN, TX, UNITED STATES, February 26, 2025 /EINPresswire.com/ -- According to SNS Insider, the Medical Imaging Devices Market was estimated at USD 39.7 billion in 2023 and is expected to reach USD 61.58 billion by 2032, at a CAGR of 5% during the forecast period of 2024-2032.

The Medical Imaging Devices Market is witnessing remarkable growth due to the increasing burden of chronic diseases, technological innovations, and greater demand for early and precise diagnosis. The incorporation of AI, machine learning, and 3D imaging is improving diagnostic accuracy. Increased healthcare infrastructure in developing economies and enhanced use of portable and hybrid imaging systems are also driving market growth, providing continuous innovation and better patient outcomes.

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Segment Analysis

By Type, Computed Tomography (CT) dominated the Medical Imaging Devices Market with a 29.04% market share in 2023.

The segment's dominance is due to its widespread application in diagnosing various conditions, including cardiovascular ailments, cancer, and neurological disorders. CT scans offer high-resolution cross-sectional imaging, enabling precise visualization of internal organs, soft tissues, and bones. Its adoption has also been boosted by the rising incidence of chronic diseases, emergency department visits, and technological advancements such as low-dose radiation and AI-based imaging. The widening use of CT in trauma, oncology, and COVID-19 lung examinations has also contributed to market demand, and it has become the leading segment in medical imaging. The greater accessibility of mobile and portable CT scanners has also enhanced accessibility in distant and emergency settings.

By Application, the Cardiology segment dominated the Medical Imaging Devices Market with a 25.66% market share in 2023.

The dominance of the cardiology segment is due to the growing prevalence of cardiovascular diseases (CVDs), a leading cause of morbidity and mortality in the world. New imaging modalities such as Computed Tomography (CT), Magnetic Resonance Imaging (MRI), and Echocardiography play a vital role in the early detection, risk stratification, and planning of treatment for heart diseases like coronary artery disease, heart failure, and structural anomalies. The increasing application of coronary CT angiography (CCTA) for non-invasive cardiac diagnosis has further accelerated this segment's dominance. In addition, the introduction of AI-driven imaging technologies, improved reimbursement policies, and rising healthcare expenditure on cardiac care have increased demand. The integration of high-resolution imaging, 3D reconstruction, and real-time functional assessment continues to position cardiology at the top application spot in medical imaging.

By End User, the Hospitals segment dominated the market with a 45.99% market share in 2023.

Hospitals are the major healthcare providers of wide-ranging diagnosis and treatment facilities. Hospitals house high-tech imaging modalities like MRI, CT, ultrasound, and X-ray units, allowing effective detection and treatment of disease. The heavy volume of patients, particularly for complicated diseases that require precise imaging, has led to hospitals having high-end imaging machines. Apart from that, they are supported by government funding, reimbursement policy, and collaboration with imaging machine manufacturers, enabling them to fit the advanced equipment. The growth of multispecialty and super-specialty hospitals, especially in urban areas, has further solidified this segment. Additionally, the ability of hospitals to adopt AI-based imaging solutions and telemedicine for remote diagnostics has fortified their leadership position in the market.

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Regional Insights

North America dominated the Medical Imaging Devices Market with a 37.8% market share in 2023.

The region's dominance is attributed to excessive expenditure on healthcare, advanced medical infrastructure, and widespread use of advanced imaging technologies. The region is well-supported by stringent government policies, high prevalence of chronic diseases, and an evolved reimbursement system, encouraging the usage of imaging equipment. Further, leading market vendors such as GE Healthcare, Siemens Healthineers, and Philips have a firm grip in the region, continually innovating and releasing AI-powered imaging solutions for enhanced diagnostic precision.

The Asia-Pacific is the region witnessing the fastest growth in the Medical Imaging Devices Market due to rapid urbanization, increased healthcare investment, and rising incidence of chronic diseases. China, India, and Japan are also seeing increased demand for imaging machines due to improved healthcare infrastructure, rising medical tourism, and government initiatives in expanding diagnostic centers. The expanding geriatric population and enhanced availability of imaging technologies at reasonable costs also contribute to market growth. Local manufacturers offering cost-effective imaging solutions throughout the region also increase market penetration.

Key Players in the Market:
• Samsung Medison Co. Ltd.
• Siemens Healthineers
• GE Healthcare
• Canon Medical Systems Corporation
• Koninklijke Philips N.V.
• FUJIFILM VisualSonics Inc.
• Mindray Medical International
• Konica Minolta
• Carestream Health
• Hitachi
• Koning Corporation
• Varex Imaging
• Hologic Inc.
• Esaote
• PerkinElmer Inc

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