Diagnostic Imaging Market Analysis by Product (X-Ray Imaging Systems, MRI Systems, Ultrasound Systems, CT Scanners, and Nuclear Imaging Systems); Application (Cardiology, Oncology, Neurology, Orthopedics, Urology, Gynecology) and by End User (Diagnostic Imaging Centers, Hospitals) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

Buy Now Report ID: 4927 | Published Date: May 02, 2023

Global Diagnostic Imaging Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Diagnostic Imaging Market size is estimated to reach ~USD 79 Billion by the end of 2035 by growing at a CAGR of ~8.70% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of diagnostic imaging was ~USD 29 Billion. The growth of the market can be attributed to the increasing incidence of chronic diseases such as cardiovascular, neurology disorders, and so on, combined with the realigning healthcare systems have led to an increase in emphasis on early diagnosis. According to the Centers for Disease Control and Prevention (CDC), coronary artery disease (CAD) affects an estimated 18.2 million adults each year in the U.S. alone. These factors are estimated to contribute to the growth of the market in the forecast period.

In addition to these, factors that are believed to fuel the market growth of diagnostic imaging include the rise in investments and collaboration between major key players. Developing and emerging countries are experiencing an increase in the number of medical imaging centers. This is also expected to contribute to the growth of the market.  For instance, the global diagnostic imaging centers market is estimated to reach 100 billion by the year 2027.  These factors are anticipated to contribute to the growth of the market.

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Global Diagnostic Imaging Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 29 Billion

Forecast Year Market Size (2035)

~ USD 79 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Diagnostic Imaging Market: Growth Drivers and Challenges


Growth Drivers

  • Rising Advanced Diagnostic Imaging Technology Systems – One of the major factors contributing to growth in this market is the introduction of modern technology devices and a growing healthcare industry in Asia. For instance, in May 2020 Fujifilm Corporation launched a new technology based on artificial intelligence to detect lung nodules. In order to assist in lung cancer diagnosis, this technology is used for detecting pulmonary nodules during CT scans of the chest.
  • Rising Geriatric Population – Elderly population is more prone to chronic and age-related diseases such as Alzheimer, Parkinson’s, and arthritis, and the rising need for the elderly population to get diagnostic imaging is estimated to drive market growth. The percentage of individuals over 60 in the world will nearly double from 12 to 22% between 2015 and 2050. In 2020, there were more people over the age of 60 than children under five, and by 2050, it is predicted that 80% of the world's old people will live in low- and middle-income countries.
  • Increasing AI Enabled Medical Imaging Equipment – One of the most important factors that are expected to contribute to a growing product demand during the forecast period is an increased use in developed countries of automated instruments capable of rapid diagnosis and analysis. For instance, in December 2020, Hologic Inc. announced that the United States Food and Drug Administration has approved its Genius AI detection technology to detect breast cancer at an earlier stage.
  • Increasing Prevalence of Cardiac Diseases – In order to increase diagnosis accuracy and improve the care of patients, diagnostic cardiac disorders are performed with an imaging system such as a radionuclide detector, ultrasound, OCT, or CT scan. For instance, according to World Health Organization (WHO), in June 2021, it was observed that cardiovascular diseases (CVDs) are the leading cause of death globally.


  • Increasing product recalls - The increasing product recalls associated with diagnostic imaging is one of the major factors predicted to slow down the market growth. For instance, in December 2020, Canon Medical System, USA, INC. recalled more than 60 Canon Aquilion Prime SP, Multislice Helical CT Scanner, TSX-303B/8L due to a software issue in the system.
  • Technical limitations associated with standalone imaging modalities
  • Lack of skilled and trained professionals

Global Diagnostic Imaging Market Segmentation

The global industry is segmented and analyzed for demand and supply by product into X-ray imaging systems, MRI systems, ultrasound systems, CT scanners, and nuclear imaging systems. Out of the five types of diagnostic imaging, the CT scanners segment is estimated to gain the largest market share of about ~39% in the year 2035. The growth of the segment can be attributed to the increasing prevalence of cardiac diseases and the increased sensitivity of CT scanners. Further, new product launches in the field are also estimated to contribute to the market growth in the forecast period. For instance, in January 2020, Allergen, in collaboration with Canon Medical Systems Corporation, introduced a new CT scanner in the market, the ACUTOM 32, which is a 32-slice CT scanner featuring a wide bore gantry of 32 cm, about a 2.0 MHU X-ray tube, and about 0.75 seconds of rotation time. In January of 2022, the Port Perry Hospital Foundation, PPHF succeeded in reaching its USD 4 million goal to purchase a CT scanner and other critical items for Scugog Health Center. Moreover, the prevalence of COVID-19 and the pandemic has increased the demand for diagnostic imaging which contributed to the growth. Due to the rapid increase in COVID-19 cases, Samsung NeuroLogica added a 32-slice mobile BodyTom CT scanner in February 2020.

The global diagnostic imaging industry is also segmented and analyzed for demand and supply by application into cardiology, oncology, neurology, orthopedics, urology, and gynecology. Amongst these six segments, the oncology segment is expected to garner a significant share in the year 2035. The demand for oncology imaging is driven by an increase in the number of cancer cases around the world, together with a growing emphasis on finding and detecting cancers before they develop. This segment of the oncology application is expected to be driven by increasing access to healthcare facilities and diagnostic imaging centers in emerging economies along with a relatively higher compound annual growth rate. These factors are estimated to contribute to the growth of the market in the forecast period.

Our in-depth analysis of the global diagnostic imaging market includes the following segments:

  By Product

  • X-Ray Imaging Systems
  • MRI Systems
  • Ultrasound Systems
  • CT Scanners
  • Nuclear Imaging Systems

  By Application

  • Cardiology
  • Oncology
  • Neurology
  • Orthopedics
  • Urology
  • Gynecology

  By End User

  • Diagnostic Imaging Centers
  • Hospitals
  • Others

Global Diagnostic Imaging Market Regional Synopsis


The market share of diagnostic imaging in North America, amongst the market in all the other regions, is projected to be the largest with a share of about ~35% by the end of 2035. The growth of the market can be attributed majorly to the increasing prevalence of chronic diseases and the demand for diagnostic imaging in the region. Increasing technical progress, an increase in the level of affordability within the population, and a rise in diagnostic procedures each year can be attributed to growth. Moreover, given that there are well-established medical facilities and increasing demand for high-quality health systems from an aging population as well as a growing incidence of chronic disease, this market is expected to grow over the forecast period. For instance, the data published by the American Cancer Society in 2022 stated that a total of 1.9 million new cancer cases are projected to occur in the U.S. during 2022. Market growth is also projected to be driven by an increasing number of neurological disorders, such as brain tumors. An estimated 83,750 people in the United States were diagnosed with brain and other central nervous system tumors in 2021, according to an article published in the American Cancer Society Journal in 2022. These factors are also anticipated to boost the market growth during the forecast period.

The Asia Pacific diagnostic imaging market is estimated to be the second largest, registering a share of about ~24% by the end of 2035. The growth of the market can be attributed majorly to the increasing prevalence of diseases and the demand for diagnostic imaging techniques in the region. Moreover, market players are offered a lucrative opportunity in the region of Asia where there is an extensive and aging existing base of imaging equipment. The demand for new medical imaging systems is expected to be driven by this as well as a rapidly developing healthcare and hospital infrastructure in the region over the forecast period.

Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing hospital infrastructure and healthcare spending in the region. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies that promote the market players, are also anticipated to contribute to the market growth in the region.

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Top Featured Companies Dominating the Global Diagnostic Imaging Market

    • CANON INC.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Carestream Health, Inc
    • Esaote SpA
    • General Electric Company
    • Hitachi Ltd
    • Hologic, Inc.
    • Koninklijke Philips N.V.
    • Materialise NV
    • planmeca oy
    • Siemens AG


In The News

  • Somatom X.ceed has been launched by Siemens Healthcare GmbH, The company has launched an efficient version of Somatom X.cite, which was first introduced in 2019.
  •  Koninklijke Philips NV announced the launch of its new flagship CT, Spectral CT 7500. scanner that could be used as an instrument to scan the spectral image in everyday use.
  • Two new permanent magnetic resonance imaging systems APERTO were launched by Hitachi, Ltd. The Lucent Plus is a 0.4T permanent open MRI, the AIRIS Vento Plus is a 0.3T in Europe. Congress of Radiology.


Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Author Credits:  Radhika Gupta, Shivam Bhutani

Key Questions Answered in the Report

1) What are the major factors driving the growth of the diagnostic imaging market?

Ans: Increasing advanced technologies, the prevalence of cardiac diseases are the major factors driving the market growth.

2) What would be the CAGR of diagnostic imaging market over the forecast period?

Ans: The market size of diagnostic imaging is anticipated to attain a CAGR of ~8.70% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the diagnostic imaging market growth?

Ans: Increasing product recalls and lack of trained professionals are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of diagnostic imaging market in future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the diagnostic imaging market?

Ans: The major players in the market are CANON INC., Carestream Health, Inc, Esaote SpA, General Electric Company, Hitachi Ltd, Hologic, Inc., Koninklijke Philips N.V., Materialise NV, planmeca oy, Siemens AG

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity, and the new products being launched into the market by the company.

7) What are the segments in the diagnostic imaging market?

Ans: The market is segmented by product, application, end user, and by region.

8) Which segment captures the largest market size in the application segment in the diagnostic imaging market?

Ans: The oncology segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

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