Global Medical Imaging Equipment Market Expected To Grow At A CAGR Of 4.9% During The Forecast Period

The latest market report published by Credence Research, Inc. “Medical Imaging Equipment Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the global market was valued at US$ 31.371.3 Mn in 2018 and expected to reach US$ 48,030.1 Mn by 2027 at a CAGR of 4.9% during the forecast period from 2019 to 2027.

Market Insights

“Emerging imaging technologies with high investment opportunities will drive the overall demand”

The technology and process of creating visual representations of the body for clinical analysis and medical intervention of organs and tissues is known as medical imaging. The global medical imaging equipment market is growing effectively from 2019 to 2027 accredited to the increase in adoption of advanced devices in the hospitals segment, new launch of 3D-3D diagnostic systems and growing need for medical technology will drive the market growth globally. Rise in hospital industry in the developed nations, and awareness about advanced medical devices are key factors generating a significant share worldwide. Additionally, new and upcoming launch of mobile imaging devices, penetration of artificial intelligence, growth in software technology assessment and technology expansion at a higher rate will boost the demand globally.

“Emerging nations will gain traction slowly”

The emerging technologies, increasing geriatric population with lifestyle diseases, and fluctuating patient care strategies are the key factors driving the medical imaging equipment market. The aging population will lead to an increasing level of diseases, and other health risks that are detected and analyzed through in vivo techniques. In the near future trends promoting value-based patient care approaches expected to impact positively on the medical imaging equipment that yield fast and accurate testing results. Computed Tomography (CT) scanners expected to generate the fastest revenue growth during the forecast period 2017 – 2027 due to increasing number of installed systems that might reach the end of their product life cycles and are will be replaced with higher value-added new-generation models in the near future. Thus, the technological advances in the field of medical imaging equipment market are trending towards manufacturing of cost-effective, minimally invasive, portable and precise equipment.

GE Healthcare, Toshiba America Medical System, Philips Healthcare, Shimadzu Corporation., Siemens Healthcare and Hitachi Medical Corporation are the key players that dominate the global medical imaging equipment market. In 2017, it was observed that overall the market was highly oligopolistic in nature with the top three-four players accounting for around 50% of the global market revenue.

Medical Imaging Equipment Market

Key Market Movements:

• Globally, the medical imaging equipment is growing at a CAGR of 4.9% for the period from 2019 to 2027
• North America region dominated the global medical imaging equipment market in 2018 accredited to increase in number of diagnostic & imaging procedures for various applications namely, cardiology, orthopedics, neurology, gynecology and others
• Increased preference for minimally invasive, portable and cost-effective medical imaging equipment
• Rapid shift towards advanced technologies such as computed tomography, and magnetic resonance imaging
• Rise in geriatric population and improving healthcare infrastructure in developing countries from Asia Pacific and Latin America such as China, India, Brazil, Mexico, Indonesia, Malaysia and others
• The Asia Pacific imaging market will gain traction due to its expansion in medical device industry, very large patient pool and increasing medical tourism in nations such as Singapore, South Korea, Japan, India, Malaysia and others
• Increasing number of new product launches, strong medical imaging equipment in pipeline and increased medical expenditure globally with enhanced reimbursement structures will drive the overall demand on a global scale

Top Manufacturers:

• GE Healthcare
• Philips Healthcare
• Siemens Healthcare
• Hologic, Inc.
• Shimadzu Corporation
• Samsung Medison Co. Ltd.
• Hitachi Medical Corporation
• Genesis Medical Imaging, Inc.
• Carestream Health, Inc.
• Fujifilm Holdings Corporation
• Fonar Corporation
• Toshiba America Medical Systems, Inc.
• Others

Browse the full report at

The Global Medical Imaging Equipment Market is Segmented into:

Research Period 2017-2027
Base Year2018
Forecast Period 2019-2027
Historical Year 2017
Unit USD Million
Segmentation By Color Type (2019–2027; US$ Mn)
 By Channel (2019–2027; US$ Mn)
 By Vehicle (2019–2027; US$ Mn)
 By Geography Segment (2019–2027; US$ Mn)

*Complete segmentation list is on report page