The Medical Imaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In accordance with The Business Research Company’s Medical Imaging Global Market Report for 2024, the medical imaging sector has experienced robust growth in recent years, surging from $40.35 billion in 2024 to $42.96 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.5%. This expansion in the historical context is attributable to several factors, including the increasing prevalence of chronic diseases, shifts in population demographics towards an aging cohort, governmental initiatives and augmented investments in healthcare, heightened awareness leading to early diagnoses, and a rise in minimally invasive procedures.

Forecasts indicate a continued trajectory of substantial growth in the medical imaging market, with expectations of reaching $54.47 billion by 2028, boasting a CAGR of 6.1%. Anticipated drivers during this projection period encompass personalized medicine paradigms, the emergence of novel modalities and hybrid imaging techniques, global healthcare challenges and associated readiness initiatives, seamless integration with electronic health records (EHRs), and a steadfast commitment to patient-centric care and experiences. Noteworthy trends on the horizon encompass the proliferation of telemedicine and remote imaging services, the seamless integration of artificial intelligence (AI) into imaging practices, ongoing technological advancements, the evolution of 3D and 4D imaging technologies, and an escalating utilization of portable and point-of-care imaging solutions.

The increasing prevalence of chronic illnesses is expected to propel the growth of the medical imaging market in the coming future. Chronic illness is a medical condition or illness that often lasts for three months or more and has the potential to get worse over time. Older people are more likely to have chronic illnesses, which can often be managed but not cured. The increasing number of chronic illnesses boosts the medical imaging market as they are used in the diagnosis and detection of chronic ailments. For instance, in March 2022, the Australian Bureau of Statistics, an Australia-based independent statutory body in charge of data gathering and analysis as well as providing federal, state, and territory governments with recommendations based on facts, 78.6% of Australian population had at least one long-term health issue and, about 46.6% or 11.6 million had at least one chronic illness in 2021. Further, in September 2022, according to World Health Organization, a Switzerland-based agency responsible for international public health, there were around 4.1 million deaths related to chronic respiratory diseases annually. Therefore, the increasing prevalence of chronic illnesses is driving the medical imaging market.

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The medical imaging market covered in this report is segmented –
1) By Product: X-Ray Devices, Magnetic Resonance Imaging (MRI), Ultrasound, Computed Tomography, Nuclear Imaging, Mammography
2) By Application: Obstetrics And Gynecology Health, Orthopedics And Musculoskeletal, Neuro And Spine, Cardiovascular And Thoracic, General Imaging, Oncology, Urology, Breast Health, Other Applications
3) By End User: Hospitals, Specialty Clinics, Diagnostic Imaging Centers, Other End Users

Key players within the medical imaging domain are diligently directing efforts towards the introduction of cutting-edge solutions, notably AI-based tools, to secure a competitive advantage in the market landscape. AI-driven medical imaging tools stand at the forefront of healthcare innovation, harnessing the power of artificial intelligence to meticulously analyze medical images, discern intricate patterns, and furnish quantitative assessments of radiographic attributes. For example, in October 2022, Google LLC, a prominent US-based technology conglomerate, unveiled a suite of tools meticulously crafted to enhance the interoperability of medical images, thereby aiding institutions in the development of machine learning and AI models grounded in imaging data. Through AI-enabled annotation capabilities, Google’s pioneering Medical Imaging Suite streamlines processes with automated image labeling, secure cloud-based storage options with seamless data exchange functionalities, and facilitates the creation of robust training datasets to expedite the deployment of scalable machine learning models with minimal coding requirements.

The medical imaging market report table of contents includes:
1. Executive Summary
2. Medical Imaging Market Characteristics
3. Medical Imaging Market Trends And Strategies
4. Medical Imaging Market - Macro Economic Scenario
5. Global Medical Imaging Market Size and Growth

.....

32. Global Medical Imaging Market Competitive Benchmarking
33. Global Medical Imaging Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Medical Imaging Market
35. Medical Imaging Market Future Outlook and Potential Analysis
36. Appendix

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