The medical imaging equipment market size is expected to reach US$ 62,509.98 million by 2031 from US$ 45,983.21 million in 2024. The market is estimated to record a CAGR of 4.5% from 2025 to 2031.
Executive Summary and Global Market Analysis
The global market for medical imaging is growing fast. This is happening because of new technologies that help with the health needs of our aging population. As more people get chronic illnesses, it's crucial to get an early diagnosis. New imaging tools make diagnoses more accurate and faster, which leads to better patient care. This trend shows how important innovation is for healthcare and promises more growth. We measure this growth by counting how many X-ray, MRI, CT, ultrasound, and nuclear imaging machines are used around the world.
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Medical Imaging Equipment Market Segmentation Analysis
We can understand the medical imaging market better by looking at its different parts. By product, the market includes MRI Systems, Ultrasound, CT Devices, X-Ray Devices, and Nuclear Imaging Systems. The Computed Tomography part was the biggest driver in 2024. For applications, the market is divided into Cardiology, Oncology, Neurology, and more, with the oncology part having the largest share in 2024. The end-users are hospitals, clinics, and others. Hospitals took the largest share of the market in 2024.
Medical Imaging Equipment Market Drivers and Opportunities
The huge increase in chronic diseases like cancer, heart disease, and diabetes is a major reason for market growth. This increase is a result of people getting older and moving to cities. For example, the Global Cancer Observatory (GCO) reported almost 20 million new cancer cases in 2022. Because of this, doctors are looking for smarter ways to diagnose diseases, save money, and help more patients.
Medical Imaging Equipment Market Size and Share Analysis
When we look at product types, the market includes MRI Systems, Ultrasound, CT Devices, X-Ray Devices, and Nuclear Imaging Systems. The Computed Tomography segment was the leader in 2024. CT machines are great because they scan very fast and provide very clear images. This is a big help in emergencies. For applications, the market is segmented into Cardiology, Oncology, Neurology, and more. The oncology part had the largest share in 2024. As the number of cancer cases goes up, so does the need for advanced imaging to provide precise solutions.
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