Diagnostic Imaging Equipment Market Size to Attain USD 72.48 Billion by 2034

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.

Highlights of the Diagnostic Imaging Equipment Market

• North America dominated the diagnostic imaging equipment market in 2024.
• Asia-Pacific is the fastest-growing in the market during the forecast period.
• By device type, the ultrasound devices segment dominated the market in 2024.
• By device type, the MRI and CT scanners segment is the fastest growing in the market during the forecast period.
• By application, the cardiology segment shows a significant growth in the diagnostic imaging equipment market during the forecast period.
• By end-user, the hospitals segment dominated the market in 2024.

Industry Valuation and Growth Rate Projection

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.

• In February 2024, Visage Imaging declared the start of Visage Ease VP, an immersive imaging platform that can be utilized on Apple's augmented reality headset, Apple Vision Pro. Visage provides cloud-based, AI-permitted enterprise imaging software, which includes Visage 7, Visage Ease Pro, and Visage Ease, that permits users to examine diagnostic images and partnerships with colleagues.

Diagnostic Imaging Equipment Market: Stats and Figures

• In March 2024, Mass General Brigham and GE HealthCare plan to incorporate medical imaging foundation models into their AI research work, with a strong focus on responsible AI practices. Both organizations have been operating closely on AI solutions since declaring their 10-year commitment in 2017 to explore the usage of AI over a broad range of diagnostic as well as treatment paradigms via sustainable AI development.
• Siemens Healthineers has terminated the acquisition of Novartis Advanced Accelerator Applications Molecular Imaging, a European production and distribution network of diagnostic radiopharmaceuticals for positron emission tomography (PET) scans. The acquired firm will be called Advanced Accelerator Applications, a Siemens Healthineers company.

How AI Has Benefitted the Diagnostic Imaging Equipment Market

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.

Diagnostic Imaging Equipment Market Dynamics

Market Drivers

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.

• In October 2023, the British molecular imaging company Blue Earth Diagnostics Ltd and Sinotau Pharmaceutical Group declared an exclusive strategic agreement for the production, development, and commercialization of the innovative PSMA-aimed PET imaging agent flotufolastat (18F) in China.

Market Restraint

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.

Market Opportunity

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.

Industry Leader Announcements

• Azim Premji, Chairman, Wipro GE Healthcare, Chairman, Wipro Enterprises, and Chairman, Azim Premji Foundation, said,

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.”

• Toshi Iida, Corporate Vice President of FUJIFILM Corporation and chairman of FUJIFILM Diosynth Biotechnologies

“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 CEO Roger Levin

"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.”

Segmental Insights

Therapeutic Application Insights

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.

Application Insights

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.

End-user Insights

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.

Regional Insights

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.

• In May 2024, United Imaging, a global contributor in manufacturing advanced medical imaging as well as radiotherapy equipment, will unveil its new MRI technology, boasting incredible developments across numerous fronts, as a gold sponsor this year.

Recent Developments in the Diagnostic Imaging Equipment Market

• In June 2025, CIVIE declared the official launch of RadPod, an AI-based, on-demand radiology platform programmed to transform how, when, as well as where radiologists work. RadPod, derived from CIVIE’s AI technology, permits radiologists to read and interpret medical imaging scans from anywhere, at any time, meanwhile receiving real-time compensation for their work.
• In February 2025, Royal Philips, a global contributor in health technology, strengthened its MRI leadership with the start of SmartSpeed Precise, derived from dual AI engines. Building on its award-winning Compressed SENSE as well as SmartSpeed technologies, this next-generation solution delivers faster scans with greater image quality.
• In February 2025, Sunway Equity Holdings Pte. Ltd. and SGX Catalist-listed AsiaMedic Limited officially started AsiaMedic Sunway Imaging, a latest medical diagnostics imaging centre at Royal Square in Novena, marking a remarkable expansion in the Group’s medical diagnostic imaging capacity.

Competitive Landscape

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.

• Company Name: Siemens Healthineers
• Year of Incorporation: 2015
• Headquarters: Erlangen, Germany

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.

• Company Name: Koninklijke Philips N.V.
• Year of Incorporation: 1912
• Headquarters: Amsterdam, Netherlands

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.

• Company Name: Canon Medical Systems Corporation
• Year of Incorporation: 1930
• Headquarters: Otawara, Tochigi, Japan

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.