Diagnostic Imaging Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Diagnostic Imaging Market in 2025 is evaluated at USD 28.59 billion. The global Market size was over USD 27.36 billion in 2024 and is anticipated to witness a CAGR of around 5.6%, crossing USD 55.56 billion revenue by 2037. North America is estimated to cross USD 19.45 billion by 2037, driven by technical progress, increasing affordability, and the rise in diagnostic procedures due to aging populations.
The growth of the market can be attributed to the increasing incidence of chronic diseases such as cardiovascular, neurology disorders 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. forecast estimates, and much 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.
Diagnostic Imaging Sector: Growth Drivers and Challenges
Growth Drivers
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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.
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Rising Geriatric Population — The 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.
- Increasing Al Enabled Medical Imaging Equipment - One of the most important factors that are expected to contribute to a growing product demand for medical imaging and visualization system 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 Al detection technology to detect breast cancer at an earlier stage.
Challenges
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Increasing Product Recalls – The increasing product recalls associated with diagnostic imaging is one of the major factors predicted to slow down the market growth.
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Technical Limitations associated with standalone imaging modalities
- Lack of skilled and trained professionals is expected to hamper the market growth
Diagnostic Imaging Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.6% |
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Base Year Market Size (2024) |
USD 27.36 billion |
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Forecast Year Market Size (2037) |
USD 55.56 billion |
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Regional Scope |
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Diagnostic Imaging Segmentation
Product (X-Ray, MRI, Ultrasound, CT Scanners, Nuclear)
The CT scanners segment is estimated to account for 39% share of the global diagnostic imaging market in the year 2037. The growth of the segment can be attributed to the new product launches in the field. 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.
Application (Cardiology, Urology, Orthopedic, Neurology, Oncology, Gynecology)
Diagnostic imaging market from the oncology segment is expected to garner a significant share during the time period. 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.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Application |
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Diagnostic Imaging Industry - Regional Synopsis
North American Market Forecast
The diagnostic imaging market in North America is projected to be the largest with a share of about 35% during the projected period. The growth of the market in the region can be attributed majorly to the 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. 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.
APAC Market Statistics
The Asia Pacific diagnostic imaging market is estimated to grow significantly by the end of 2037. The growth of the market can be attributed majorly to the growing 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.
Companies Dominating the Diagnostic Imaging Landscape
- 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
- Hologic Inc.
- Materialise NV
- GE Healthcare
- Seimens AG
- Planmeca Oy
- Mindray
Recent Developments
- Somatom X.ceed has been launched by Seimens Healthcare GmbH, The company has launched an efficients version of Somatom X.cite which was first introduced in 2019.
- 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, Congess of Radiology.
Author Credits: Radhika Pawar
- Report ID: 4927
- Published Date: May 09, 2025
- Report Format: PDF, PPT
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Diagnostic Imaging Market Report Scope
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