Medical Imaging Equipment Global Market is Projected to Increase Revenues Growth, Business Insights, Future Demand and Forecast 2024-2033 | Medtronic plc., Barco NV, GE Healthcare, Analogic Corporation, EIZO Corporation, Terumo Corporation

Overview and Scope
Medical imaging equipment refers to a broad category of devices and technologies used in the field of medicine to visualize the internal structures and functions of the body. It enhances patient care by enabling accurate diagnosis, personalized treatment planning, and effective monitoring of health conditions.

Sizing and Forecast
The medical imaging equipment market size has grown strongly in recent years. It will grow from $42.68 billion in 2023 to $45.75 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising aging population, increasing disease burden, government initiatives, rising awareness, integration of AI.

The medical imaging equipment market size is expected to see strong growth in the next few years. It will grow to $57.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to increasing personalized medicine, increasing remote patient monitoring, increasing emerging markets growth, value-based healthcare, increasing precision medicine. Major trends in the forecast period include digital health integration, innovative imaging modalities, technological advancements, telemedicine integration, portable and point-of-care imaging.

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Segmentation & Regional Insights
The medical imaging equipment market covered in this report is segmented –
1) By Equipment: Computed Tomography, X-Ray Systems, Magnetic Resonance Imaging (MRI) Systems, Ultrasound Systems, Nuclear Imaging Equipment, Mammography Equipment, Contrast Media Injectors, C-Arms And Fluoroscopy Device
2) By Modality: Stand-Alone Devices, Portable Devices, Hand-Held Devices
3) By Application: Cardiology, Neurology, Orthopedics, Gynecology, Oncology, Other Applications
4) By End-User: Diagnostic Imaging Centers, Ambulatory Surgical Centers, Specialty Clinics, Research Institutes

Asia-Pacific was the largest region in the medical imaging equipment market in 2023. The regions covered in the medical imaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rising prevalence of chronic diseases is expected to propel the growth of the medical imaging equipment market going forward. Chronic diseases are long-lasting conditions that typically progress slowly over time and persist for extended periods, often for years or even a lifetime. It arises due to changing lifestyles, genetic predispositions, and aging populations. Medical imaging equipment helps patients suffering from chronic diseases by facilitating early detection, accurate diagnosis, personalized treatment planning, and ongoing monitoring of disease progression and treatment response. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the rising prevalence of chronic diseases is driving the growth of the medical imaging equipment market.

Key Industry Players
Major companies operating in the medical imaging equipment market are Medtronic plc., Siemens Healthineers, Fujifilm Medical Systems, Philips Healthcare, Stryker Corporation, GE Healthcare, Analogic Corporation, EIZO Corporation, Terumo Corporation, Mindray Medical International Limited, Hologic Inc., Shimadzu Corporation, PerkinElmer Inc., Carestream Health, Barco NV, Varian Medical Systems Inc., Esaote S.p.A., Samsung Medison Co. Ltd., Canon Medical Systems Corporation, Hitachi Healthcare Ltd., Planmed Oyj, Misonix Inc., Nano X Imaging Ltd., InnoScan Inc

The medical imaging equipment market report table of contents includes:
1. Executive Summary