Medical Imaging Market Foreseen To Increase Exponentially By 2030

Medical Imaging Market Summary

The global medical imaging market size was valued at USD 41.6 billion in 2024 and is projected to reach USD 55.4 billion by 2030, growing at a CAGR of 4.95% from 2025 to 2030. The market is expanding steadily due to the increasing prevalence of chronic diseases and the rising demand for early disease diagnosis and detection tools. Additionally, the growing geriatric population, significant investments made by industry leaders, continuous product innovation, and technological advancements—including the integration of Artificial Intelligence (AI) into medical imaging processes and the development of portable and point-of-care imaging devices—are expected to further accelerate market growth throughout the forecast period.

The growing geriatric population is significantly influencing the growth of the medical imaging industry, as aging is closely linked to a higher risk of chronic conditions such as heart disease, stroke, cancer, neurological disorders, and osteoporosis. These conditions frequently require advanced imaging for accurate diagnosis, continuous monitoring, and effective management. According to projections by the United Nations Population Division, the global population aged 65 and above is expected to double over the next 30 years, reaching 1.6 billion by 2050. This demographic shift is anticipated to substantially increase the demand for medical imaging services and technologies.

Key Market Trends & Insights

• North America medical imaging market dominated the global industry and accounted for a 36.4% revenue share in 2024.
• The medical imaging market in Asia Pacific region is expected to grow at the fastest growth rate during the forecast period.
• Based on application, the orthopedic imaging segment dominated the market in 2024 by capturing 32.4% of revenue share.
• In terms of end use, the hospitals segment accounted for the largest revenue share of 42.0% in 2024.
• Based on technology, the magnetic resonance imaging segment accounted for the largest market share of 27.6% in 2024.

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Market Size & Forecast

• 2024 Market Size: USD 41.6 Billion
• 2030 Projected Market Size: USD 55.4 Billion
• CAGR (2025-2030): 4.95%
• North America: Largest market in 2024
• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

The medical imaging market is characterized by its dynamic and competitive nature. The market is led by key players such as GE Healthcare; Siemens Healthineers; and Koninklijke Philips N.V., Canon Medical Systems Corporation, FUJIFILM VisualSonics Inc., among others. Companies are heavily investing in research and development to introduce innovative products with better imaging capabilities and reduced radiation exposure. There is a notable trend of mergers and acquisitions as companies aim to expand their product portfolios and enter new markets. Many companies are forming strategic partnerships with healthcare providers to improve the adoption and integration of advanced imaging technologies in clinical practice.

Key Players

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

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Conclusion

The medical imaging market is poised for sustained expansion as healthcare systems worldwide shift toward early diagnosis, precision medicine, and technologically advanced diagnostic tools. Rising chronic disease incidence and the rapidly aging population continue to be major catalysts for increased imaging demand. Further, advancements in AI, machine learning, and portable imaging platforms are transforming clinical workflows and improving diagnostic accuracy. While North America remains the largest market, rapid growth in Asia Pacific highlights shifting global healthcare dynamics. With strong industry investments, expanding applications, and continuous innovation, the medical imaging sector is expected to maintain a robust growth trajectory in the coming years.