Last Updated: 22 Jul 2025
Source: Statifacts
The global diagnostic imaging equipment market size surpassed USD 21.14 billion in 2024 and is predicted to reach around USD 72.48 billion by 2034, registering a CAGR of 13.11% from 2025 to 2034.
| Industry Worth | Details |
| Market Size in 2025 | USD 23.72 Billion |
| Market Size by 2034 | USD 72.48 Billion |
| Market Growth Rate from 2025 to 2034 | CAGR of 13.11% |
The diagnostic imaging market involves numerous medical technologies that create images of the individual's internal structures to monitor, diagnose, and treat medical conditions. It encompasses a broad range of medical apparatus and systems utilized for visualizing the internal structures as well as functions of the human body, assisting in the diagnosis, and monitoring of numerous medical conditions. Diagnostic imaging offers essential data for treatment planning. Thus, surgeons and other healthcare providers rely on imaging outcomes to understand the location, size, and extent of tumors or abnormalities, helping with surgical precision and targeted therapies. Its importance extends over several dimensions, impacting medical research, patient care, and healthcare systems.
AI has paved the path for developments in image-guided interventions as well as surgical procedures. By combining preoperative imaging information with real-time imaging during surgery, AI algorithms can offer surgeons augmented visualization, decision support, and navigation assistance. These tools improve surgical precision, lessen procedural risks, and permit minimally invasive techniques, ultimately enhancing patient safety and surgical outcomes. AI- derived diagnostic tools not only accelerate the interpretation of complex images but also enhance early detection of disease, while delivering better results for patients. The incorporation of AI and medical imaging has also eased the advancement of personalized medicine.
Through the determination of medical images and patient information, AI algorithms can provide patient-specific insights, permitting tailored treatment plans that examine individual variations in physiology, anatomy, and disease characteristics. This personalized approach to healthcare improves treatment efficacy and decreases the risk of adverse effects, contributing to improved patient outcomes and quality of life.
Technological advancements
The advancement of newer, more accurate, as well as less invasive imaging techniques, like AI-assisted analysis and 3D imaging, permits earlier analysis and more effective treatment of diseases. Moreover, incorporating AI into medical imaging enhances image analysis, improves diagnostic accuracy, as well as streamlines workflows. Technological developments are also fueling the expansion of the medical imaging market.
Regulatory hurdles
Regulatory hurdles, along with reimbursement difficulties, can pose remarkable obstacles for major market players. Government regulations regarding the usage of medical imaging equipment and reimbursement policies for diagnostic processes. Furthermore, a large and competitive refurbished equipment market, mainly in emerging economies, can restrict the acceptance of new and innovative imaging systems. Refurbished equipment usually provides more cost-effective options for smaller healthcare facilities, decreasing the need for new equipment.
Increasing emphasis on personalized medicine
This trend aligns with the increasing target of precision medicine, where treatments and interventions are customized and derived from an individual's genetic makeup as well as specific health conditions. Rapid urbanization, rising healthcare expenses, and a growing middle-class population in these regions are boosting the need for diagnostic equipment. According to the World Bank, healthcare expenditure in developing countries is anticipated to rise remarkably in the coming years, offering a lucrative market for diagnostic device producers.
India is riding the resurgent growth in the healthcare industry and the rapidly expanding MedTech sector. With ‘Make in India’, we are witnessing an exponential expansion of manufacturing footprint in the country, strengthening India’s capability as the MedTech hub of the world. Wipro GE Healthcare has been committed to this localization journey for over three decades, and this strategic investment is testament to our vision for this sector.”
“Lars is a visionary leader with an excellent reputation for delivering outstanding operational and financial results and for establishing and delivering long-term value for our Bio CDMO customers,” said Toshi Iida, Corporate Vice President of FUJIFILM Corporation and chairman of FUJIFILM Diosynth Biotechnologies. He added, “I have every confidence in Lars’s ability to lead the FUJIFILM Diosynth Biotechnologies to realise its full potential as a true partnership development manufacturing organisation for Advancing Tomorrow’s Medicine. His organisational knowledge, breadth and depth of experience in biopharmaceuticals make him the ideal leader to spearhead the company successfully through its next growth phase.”
"Hitachi Digital Services is thrilled to support Universal Destinations & Experiences as it looks for innovative ways to enhance its operation with new technology solutions,” said Hitachi Digital Services CEO Roger Lvin. “Our unique capabilities uniting the physical and digital worlds will enable us to power transformative solutions that drive sustainability and efficiency while also enhancing the experiences of millions of theme park visitors every year.”
The ultrasound devices segment dominated the diagnostic imaging equipment market in 2024. Ultrasound is usually considered a safe as well as non-invasive imaging technique, making it suitable for a variety of individuals, including children and pregnant women. The ultrasound segment generally captures a remarkable portion of the overall diagnostic imaging market, usually holding the largest share among the numerous imaging modalities. Ultrasound is used in a broad range of medical applications, from cardiology and obstetrics to musculoskeletal and abdominal imaging.
The MRI and CT scanners segment is the fastest-growing in the diagnostic imaging equipment market during the forecast period. This is due to a blend of factors, including the rising prevalence of chronic diseases such as cancer and neurological disorders, developments in technology, and a rising need for more accurate as well as efficient diagnostic tools. Diagnostic imaging centers are seeing a growth in the need for specialized imaging services such as MRI and CT scans on an outpatient basis, by making these technologies more accessible as well as convenient for patients.
The cardiology segment shows significant growth in the diagnostic imaging equipment market during the forecast period. There's an increasing preference for less invasive processes with shorter hospital stays as well as faster recovery times, further driving the need for advanced imaging. Innovations in CT angiography, cardiac MRI, and echocardiography enhance diagnostic accuracy along with patient results, contributing to increased adoption. Hospitals are a crucial end-use segment, accompanied by diagnostic centers and a few healthcare facilities.
The hospitals segment dominated the diagnostic imaging equipment market in 2024. Hospitals are usually early adopters of new imaging technologies, which include those improved with AI and other developed features, to enhance workflow and patient care. Thus, they are generally the first point of contact for individuals seeking medical care, leading to a greater number of imaging procedures being managed within their facilities. Thus, they are equipped to manage complex cases that may need advanced imaging techniques as well as specialized expertise, thus contributing to their success in the market.
North America dominated the diagnostic imaging equipment market in 2024. North America, mainly the US, has a high level of healthcare expenses, which supports the acceptance of developed imaging technologies. The increasing incidence of chronic diseases such as cardiovascular disorders, cancer, and neurological diseases in North America also raises the requirement for diagnostic imaging. A well-advanced healthcare infrastructure, including various imaging centers, led to market expansion in the region.
Asia-Pacific is the fastest-growing diagnostic imaging equipment market during the forecast period. A growing number of older people in the Asia-Pacific region are more susceptible to chronic disorders, leading to a raised demand for diagnostic imaging services. Supportive government policies, as well as initiatives aimed at enhancing healthcare access and encouraging early disease detection, are recreating a role in market growth.
The diagnostic imaging equipment market is highly competitive, featuring both well-known industry leaders and key emerging players. The market is driven by factors such as an aging population, rising incidence of chronic diseases, and technological developments in imaging modalities. Companies are forming collaborations with clinics, hospitals, and research institutions to stretch their market reach and improve their product offerings.
Siemens Healthineers AG (Siemens Healthineers), a subsidiary of Siemens AG, is a medical technology firm. The company develops, designs, produces, and distributes diagnostic and therapeutic products, including imaging systems, advanced therapies, and in vitro diagnostics.
Koninklijke Philips NV (Philips) is a diversified technology firm that develops and produces medical systems as well as consumer electronics goods. The company provides products in the arena of precision diagnosis, monitoring, image-guided therapy, enterprise informatics, sleep, as well as respiratory care, and personal health.
Canon Medical Systems Corp (Canon Medical Systems) is a manufacturer of medical diagnostic systems. Canon Medical Systems issues products via subsidiaries and a network of distributors all over the world. The firm develops medical imaging products in partnership with medical and research institutions.
Published by Kesiya Chacko
