Medical Imaging Market Size 2021-2027 | To Reach USD 43.33 Billion at CAGR of 5.1%

·6 min read

Key Players Covered in the Medical Imaging Market Research Report Are GE, Hitachi, SHIMADZU CORPORATION, fnms (siemens healthcare in jordan), SuperSonic Imagine, Hologic, Inc., SAMSUNG, FUJIFILM Holdings America Corporation, and other key market players.

Pune, India, Oct. 20, 2021 (GLOBE NEWSWIRE) -- The Medical Imaging Market is likely to grow in the coming years due to the increasing incidence of chronic diseases such as liver, cancer, and cardiovascular diseases. According to a report published by Fortune Business Insights, Market: Global Market Analysis, Insights and Forecasts, 2018-2025. “The market is likely to reach USD 43.33 billion by 2027. The market was valued at USD 33.69 billion in 2019, and the value will increment at a CAGR of 5.1% during the forecast period.”

Growing Adoption of Technologically Advanced Systems to Drive the Market in the US

The increasing investment by government and public organizations towards diagnosis and treatment of cancer has paved the way for innovations and advancements in the global Market. The increasing awareness about effects of major diseases such as cancer and orthopedic diseases has fueled the demand for early detection of these disease and immediate diagnosis methods. Furthermore, research initiatives by the leading companies are aiding the growth of the market in the U.S. In 2018, Siemens Healthcare GmbH introduced two new magnetic resonance imaging scanners.

The products were an instant hit within the healthcare personnel and there was an immediate demand for Siemens’ devices for medical imaging. The increasing demand had a direct impact on the overall market in the US. Besides US, the Market in Asia Pacific is likely to grow in the coming years due to high investments in research and development of medical imaging by private organizations and leading investor firms.

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Increasing Demand for Ultra-Sonic Equipment to Boost Growth

To suffice the constantly increasing demand and growing expectations from end users, healthcare manufacturers are putting in more efforts to come up with new products. Along with new products, healthcare manufacturers are also under the pressure of improving product and device efficiencies. There is an increasing demand for ultrasound imaging equipment arising from healthcare settings in emerging countries. The major reason for this rising demand is the improved efficiency of new ultrasound imaging equipment introduced in the market. Among all types of medical imaging equipment, ultra-sonic devices accounted for almost 22.9% of the global Market.

Report Scope & Segmentation

Report Coverage


Forecast Period

2020 to 2027

Forecast Period 2021 to 2028 CAGR


2027 Value Projection

USD 43.33 billion

Base Year


Market Size in 2019

USD 33.69 billion

Historical Data for

2016 to 2018

No. of Pages


Segments covered

By Application, By End User, Type, Magnetic Resonance Imaging

Growth Drivers

Increasing Demand for Ultra-Sonic Equipment to Boost Growth

Growing Adoption of Technologically Advanced Systems to Drive the Market in the US

South Korean Government announces US$ 1 Bn for Development of Medical Devices

Novel Imaging Techniques including 3D and Colour Imaging to Boost the Global Market

Recent advancements in 3D imaging have given impetus to the global Market. Increasing investment in improving pixel resolutions and other factors related to ensuring improved image quality have a direct impact on the global Market. Furthermore, the advances made in molecular imaging have led to exceptional discoveries and contributed to development of next-in-class devices. The high quality images produced by the latest medical imaging devices have allowed healthcare professionals to explore potentials within the molecular cell biology. The aforementioned factors have accounted for the growth of the global Market.

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South Korean Government announces US$ 1 Bn for Development of Medical Devices

In May 2019, the South Korean government announced that it plans to invest around 1 trillion Won, which is US$ 1Bn in the research and development of high caliber medical devices. The Ministry of Science and ICT (MSIT) announced that after the preliminary study on research and development was concluded last month, it now aims to develop world class devices within the next 6 years. The MSIT made its intentions clear by announcing a huge sum that no compromises will be made in healthcare devices including imaging, scanning, diagnosis, treatment, and other devices. With a huge investment, the government aims at tackling issues such as treating physically disabled people, improving quality of rehabilitation for those in need, and providing high quality devices for early detection of fatal diseases such as cancer. This initiative is likely to have a positive impact on the global Market and shall bode well for its growth in the coming years.

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Key companies covered in the report

  • GE

  • Hitachi


  • fnms(siemens healthcare in jordan)

  • SuperSonic Imagine

  • Hologic, Inc.


  • FUJIFILM Holdings America Corporation

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Major Table of Content:

  • Market Dynamics

  • Key Insights

    • Epidemiology Overview: Key Diseases, 2018

    • Overview: Mergers, Acquisitions &Partnerships

    • Pricing Analysis, Key Players

    • Installed Base Scenario, Key Brands/ Players

  • Global Medical Imaging Market Analysis, Insights and Forecast, 2015-2026

    • Key Findings / Summary

    • Market Analysis, Insights and Forecast – By Type

      • Magnetic Resonance Imaging (MRI) Equipment

      • Computed Tomography (CT) Equipment

      • X-ray Equipment

      • Ultrasound Equipment

      • Molecular Imaging Equipment

    • Market Analysis, Insights and Forecast – By Application

      • Cardiology

      • Neurology

      • Orthopedics

      • Gynecology

      • Oncology

      • Others (Urology, etc.)

    • Market Analysis, Insights and Forecast – By End User

      • Hospitals

      • Specialty Clinics

      • Diagnostic Imaging Centers

      • Others

    • Market Analysis, Insights and Forecast, Insights and Forecast – By Region

      • North America

      • Europe

      • Asia Pacific

      • Latin America

      • Middle East & Africa

  • Competitive Analysis

  • Strategic Recommendations


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