Medical Imaging Equipment Services Market Outlook:
Medical Imaging Equipment Services Market size was over USD 21.63 billion in 2025 and is projected to reach USD 39.47 billion by 2035, witnessing around 6.2% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of medical imaging equipment services is assessed at USD 22.84 billion.
The increasing cases of chronic, cardiovascular, and neurological diseases are responsible for the surge in the demand for medical imaging equipment in the health sector worldwide. According to estimates, in 2021, approximately 1,800,000 new cancer cases were diagnosed in the United States. Furthermore, according to the World Health Organization (WHO) data, globally about 17.9 million people died of cardiovascular diseases in 2019.
The global medical imaging equipment services market is also estimated to witness growth on account of the increasing geriatric population worldwide. Moreover, the integration of digital technology, and automation in medical imaging equipment along with other technological advancements is expected to majorly boost the market growth in the coming years.
Key Medical Imaging Equipment Services Market Insights Summary:
Regional Highlights:
- North America is projected to hold 36% share by 2035 in the medical imaging equipment services market, driven by rising cases of cancer and cardiovascular diseases along with technological innovations in medical imaging equipment.
- Asia Pacific market is expected to witness significant growth over the forecast period, owing to the rising geriatric population and increasing prevalence of chronic diseases.
Segment Insights:
- OEMs segment is projected to account for 75% share by 2035 in the medical imaging equipment services market, propelled by a large number of medical imaging procedures performed in hospitals.
- Hospital segment is expected to capture significant market share over the forecast period, owing to the rising number of hospitals and increasing patient visits globally.
Key Growth Trends:
- Growth of the Healthcare Industry
- Rising Export of Medical Equipment
Major Challenges:
- High Cost Associated with Medical Imaging Equipment
- Frequent Product Recalls in Medical Imaging Sector
Key Players: ABB Group, Siemens Aktiengesellschaft, General Electric Company, Schneider Electric SE, Larsen & Toubro Limited, Eaton Corporation, Aerovox Business Management, Magnewin Energy Private Limited, CIRCUTOR, SAU, Energe Capacitors Pvt Ltd.
Global Medical Imaging Equipment Services Market Forecast and Regional Outlook:
Market Size & Growth Projections:
- 2025 Market Size: USD 21.63 billion
- 2026 Market Size: USD 22.84 billion
- Projected Market Size: USD 39.47 billion by 2035
- Growth Forecasts: 6.2% CAGR (2026-2035)
Key Regional Dynamics:
- Largest Region: North America (36% Share by 2035)
- Fastest Growing Region: North America
- Dominating Countries: United States, Germany, Japan, United Kingdom, France
- Emerging Countries: United States, Canada, Germany, Japan, United Kingdom
Last updated on : 25 February, 2026
Medical Imaging Equipment Services Market - Growth Drivers and Challenges
Growth Drivers
- Growth of the Healthcare Industry – which is responsible for the rising investments in the development of artificial intelligence-based medical equipment and machinery is anticipated to drive the growth of the global medical imaging equipment services market in the coming years. According to recent data, in 2021, the healthcare industry of the United States was valued at approximately 800 billion USD.
- Rising Export of Medical Equipment – As per the data, in India, exports of medical devices stood at USD 2.4 billion in 2019-20, which is expected to reach USD 9 billion by the end of 2025.
- Increased Research & Development Expenditure – As per data from World Bank, global research and development expenditure in proportion to the gross domestic product (GDP) was around 2.63% in 2020, up from 2.2% in 2018.
- Growth of Medical Technology – As per data, in India, the medical technology sector is anticipated to reach a valuation of USD 45 billion by the end of 2025.
- Increasing Investment in Medical Equipment Sector – According to recent data, in India, there was a total foreign investment of around USD 300 million in the medical equipment sector in 2020, up from USD 150 million in 2019.
Challenges
- High Cost Associated with Medical Imaging Equipment – which has increased health costs for individuals and countries. Outpatient costs are rising with increasing complexity and costly technologies.
- Frequent Product Recalls in Medical Imaging Sector
- Less Awareness about the Benefits of Medical Imaging Equipment in the Market
Medical Imaging Equipment Services Market Size and Forecast:
| Report Attribute | Details |
|---|---|
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Base Year |
2025 |
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Forecast Year |
2026-2035 |
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CAGR |
6.2% |
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Base Year Market Size (2025) |
USD 21.63 billion |
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Forecast Year Market Size (2035) |
USD 39.47 billion |
|
Regional Scope |
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Medical Imaging Equipment Services Market Segmentation:
Service Type Segment Analysis
The global medical imaging equipment services market is segmented and analyzed for demand and supply by service providers into OEMs and independent service providers. Among these segments, the OEMs segment held the largest market share of 75% in the year 2035 owing to a large number of medical imaging performed in hospitals. Further, the market is segmented by end-user into hospitals, diagnostic centers, and others. Out of these segments, the hospital segment is anticipated to garner a significant market share over the forecast period, owing to the rising number of hospitals and increasing patient visits to hospitals globally. According to estimates, in 2020, there are about 6000 registered hospitals in the United States, in addition, the number of hospitals in Japan in the same year was about 8000.
Our in-depth analysis of the global market includes the following segments:
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By Service Type |
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By Modality |
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By Service Provider |
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By End-User |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Medical Imaging Equipment Services Market - Regional Analysis
North American Market Insights
North America industry is anticipated to hold largest revenue share of 36% by 2035. This can be accredited to the rising cases of cancer and cardiovascular diseases as well as rising technological innovations in medical imaging equipment in the region. According to statistics, in 2019, ischemic heart disease and stroke were responsible for between 8 million and 6 million deaths respectively.
APAC Market Insights
Further, the market in Asia Pacific is estimated to register significant growth during the forecast period, owing to the rising geriatric population in the economically emerging nations as well as the increasing prevalence of chronic diseases. By the end of 2040, it is estimated that about 28% of the population in China, i.e., 402 million, will be over the age of 60.
Key Medical Imaging Equipment Services Market Players:
- United Imaging Healthcare Co., Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Agfa-Gevaert Group
- Canon Medical Systems Corporation (Canon Inc.)
- Hitachi, Ltd.,
- GE Healthcare (General Electric Company)
- Carestream Health (ONEX Corporation)
- Koninklijke Philips N.V.
- Shenzen Mindray Bio-Medical Electronics Co., Ltd
- Universal Hospital Services Inc.,
- Althea Group
Recent Developments
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United Imaging Healthcare Co., Ltd. - announced that The Center for Quantitative Cancer Imaging at Huntsman Cancer Institute has installed its first of two United Imaging PET/CT scanners, bringing state-of-the-art molecular imaging technology to the CQCI clinical research lab.
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Canon Medical Systems - A new MRI system, Vantage Fortian at ECR 2022 has been launched by Canon Medical. It provides image enhancement, accelerated scan technology and thereby reducing the time required for MRI procedures.
- Report ID: 4230
- Published Date: Feb 25, 2026
- Report Format: PDF, PPT
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Medical Imaging Equipment Services Market Report Scope
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