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Medical Imaging Market Projected to Witness Substantial Expansion CAGR of 5.8% – 2030

According to the report published by Allied Market Research, the global medical/diagnostic imaging market garnered $38.5 billion in 2020, and is expected to reach $68.8 billion by 2030, witnessing a CAGR of 5.8% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

The global medical imaging market is experiencing significant growth, driven by factors such as the increasing prevalence of chronic diseases, technological advancements, and the growing demand for early and accurate diagnosis.

The market is segmented into various imaging modalities, including X-ray, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), and nuclear imaging.

X-ray imaging remains the most widely used modality due to its cost-effectiveness and versatility in diagnosing a variety of conditions, such as fractures and lung diseases.

Ultrasound imaging is witnessing substantial growth due to its non-invasive nature, real-time imaging capabilities, and its wide range of applications, including obstetrics, cardiology, and abdominal imaging.

MRI and CT imaging modalities are increasingly adopted for detailed imaging of soft tissues and organs, providing valuable insights into conditions such as cancer, neurological disorders, and cardiovascular diseases.

The integration of artificial intelligence (AI) and machine learning (ML) algorithms in medical imaging is revolutionizing the field, enabling improved image analysis, faster diagnosis, and personalized treatment planning.

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Impact of Covid-19 on Medical/Diagnostic Imaging Market

  • The Covid-19 pandemic made a positive impact on the growth of the medical/diagnostic imaging market as the demand for CT scanners, MRI scanners, and X-ray imaging devices surged considerably to determine the level of infection.
  • A huge number of clinics and hospitals across the globe were restructured to cope with rise in demand for scans and provide improved healthcare facilities.

Market Segmentation:

Imaging Modality:

    • X-ray: Conventional X-ray, digital radiography, and fluoroscopy.
    • Ultrasound: 2D ultrasound, 3D/4D ultrasound, Doppler imaging, and others.
    • Magnetic Resonance Imaging (MRI): Closed and open MRI systems.
    • Computed Tomography (CT): High-end slice CT, mid-end slice CT, and low-end slice CT.
    • Nuclear Imaging: Single-photon emission computed tomography (SPECT) and positron emission tomography (PET).


    • Oncology
    • Cardiology
    • Neurology
    • Orthopedics
    • Gastroenterology
    • Obstetrics and Gynecology
    • Urology
    • Pulmonology
    • Others


    • Hospitals
    • Diagnostic Imaging Centers
    • Ambulatory Surgical Centers
    • Research and Academic Institutes
    • Others


    • North America (United States, Canada)
    • Europe (United Kingdom, Germany, France, Italy, Spain, and others)
    • Asia Pacific (China, Japan, India, South Korea, and others)
    • Latin America (Brazil, Mexico, and others)
    • Middle East and Africa

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Regional Growth Dynamics:

Based on region, North America held the highest share in 2020, accounting for around one-third of the total market share, and is expected to continue its dominance in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the largest CAGR of 6.5% during the forecast period.

Competitive Landscape:

  • Siemens Healthineers
  • GE Healthcare
  • Philips Healthcare
  • Canon Medical Systems Corporation
  • Hitachi Medical Corporation
  • Fujifilm Holdings Corporation
  • Hologic, Inc.
  • Carestream Health
  • Samsung Medison
  • Shimadzu Corporation

Recent developments:

  • AI Integration: There has been a significant focus on integrating artificial intelligence (AI) and machine learning (ML) algorithms into medical imaging. AI-powered software can assist radiologists in image interpretation, improve accuracy, and enhance workflow efficiency.
  • Portable and Handheld Imaging: The market has seen a rise in portable and handheld imaging devices, enabling point-of-care imaging and remote healthcare delivery. These devices are particularly beneficial in resource-limited settings and emergency situations.
  • 3D and 4D Imaging: Advancements in imaging technology have led to the widespread adoption of 3D and 4D imaging techniques. These techniques provide enhanced visualization and improve diagnostic accuracy in various applications, such as obstetrics, cardiology, and orthopedics.
  • Hybrid Imaging: The development of hybrid imaging systems, such as PET-CT and SPECT-CT, has gained momentum. These systems combine multiple imaging modalities, providing comprehensive and more accurate diagnostic information.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.


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Last Updated: 16-May-2023