Medical
Imaging Equipment Market Statistics,
Trends, Size, Share, Regional Analysis by Key Players (2021-2031)

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 medical imaging equipment market is poised for
significant growth, primarily driven by continuous technological advancements.
These innovations are crucial for addressing the complex and expanding
healthcare needs of an aging global population. With the rising incidence of
chronic conditions, early diagnosis has become essential, making
next-generation imaging solutions vital. These solutions enhance diagnostic
precision, optimize clinical workflows, and considerably improve patient
outcomes. This robust trend highlights innovation's critical role in modern
healthcare and positions the sector for sustained expansion amidst evolving
global health challenges. The market's performance is carefully assessed
through analyzing the worldwide adoption of devices like X-rays, MRIs, CT
scanners, ultrasound, and nuclear imaging.

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Medical Imaging Equipment Market Segmentation Analysis

The medical imaging equipment market is analyzed based on
its core segments: product type, application, and end-user. By product type,
the market includes Magnetic Resonance Imaging Systems, Ultrasound, Computed
Tomography Devices, X-Ray Imaging Devices, and Nuclear Imaging Systems. The
Computed Tomography segment was the primary market driver in 2024. For
applications, the market is segmented into Cardiology, Oncology, Neurology,
Orthopedics, Gastroenterology, Gynecology, Urology, and Other Applications. The
oncology segment held the largest market share in 2024. By end-user, the market
is segmented into Hospitals, Specialty Clinics, Diagnostics Imaging Centers,
Academic & Research Institutes, and Others. The hospitals segment accounted
for the largest share of the market in 2024.

Medical Imaging Equipment Market Drivers and
Opportunities

The accelerating global increase in chronic and complicated
diseases, such as cancer, cardiovascular disease, diabetes, and neurological
conditions, is profoundly impacting the healthcare industry. Significant
demographic shifts, rapid urbanization, evolving lifestyle patterns, and
various environmental factors have collectively led to a substantial rise in
disease incidence. For example, according to comprehensive data from the Global
Cancer Observatory (GCO), approximately 19,976,499 new cancer cases were
reported worldwide in 2022, and cancer tragically resulted in 9,743,832 deaths
globally in the same year. Healthcare providers are actively seeking innovative
approaches to enhance diagnostic accuracy, effectively reduce operational
costs, and efficiently manage the ever-increasing volume of patients.

Medical Imaging Equipment Market Size and Share Analysis

By product type, the medical imaging equipment market is
segmented into Magnetic Resonance Imaging Systems, Ultrasound, Computed
Tomography Devices, X-Ray Imaging Devices, and Nuclear Imaging Systems. The
Computed Tomography segment dominated the market in 2024. This is due to CT
devices' fast scanning capabilities and high-resolution imaging, making them
particularly beneficial in both emergency medical settings and routine
diagnostics. In terms of applications, the market is segmented into Cardiology,
Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Urology, and
Other Applications. The oncology segment held the largest share of the market
in 2024. As reported by the Global Cancer Observatory (GCO), approximately
19,976,499 new cancer cases were reported globally in 2022, and cancer led to
9,743,832 deaths worldwide in 2022. As the global cancer burden rises, the
demand for advanced imaging technologies to provide precise, non-invasive
diagnostic solutions continues to grow significantly.

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