Global Medical Imaging Market Forecast to 2024

  • October, 2018
  • Domain: Healthcare - Medical Devices
Pages: 140
Tables: 55
Charts: 28
Regions/Countries: 4/11
Companies: 11+
Enquiry Hours: 10
  • Get Free 10% Customization in this Report

This market research report includes a detailed segmentation of the global Medical Imaging market by product type (X-ray, MRI, CT, Ultrasound and Nuclear Imaging), by portability (Portable and Fixed), end-users (Hospitals, ASC, Diagnostics Centers, and others), and by region (North America, Europe, APAC, and RoW). The market research report identifies Siemens Healthcare, GE Healthcare, Philips Healthcare, Toshiba Medical Systems, Hitachi Medical, and Fujifilm Holdings Corp. as the major vendors operating in the global Medical Imaging market.

Overview of the Medical Imaging Market

Infoholic’s market research report predicts that the global Medical Imaging market is expected to grow at a CAGR of 5.8% during the forecast period 2018–2024.

According to the Medical Imaging market report analysis, the US and Canada were the leading countries owing to the highest number of diagnostic cases in 2017. North America dominates the overall presence of medical imaging and has the most diversified X-ray systems available in the market. It has the highest percentage of elderly population with many individuals with chronic diseases such as CVD, diabetes, obesity, high blood pressure, and other urology related factors. This has attracted most of the vendors to sustain and grow over the period and maintain their product presence in the market.

Europe is the second leading region and held more than 25% of the market share in 2017. The market in Europe was largely driven by advances in medical imaging technologies. Factors such as increase in the prevalence of diseases, continuous adoption of advanced technologies, and increasing aging population are driving the market. The leading countries are Germany, France, UK, and Italy in the market. The APAC region was the fastest growing region in the global Medical Imaging market in 2017.

Medical Imaging Market Competitive Analysis and Key Vendors

The global Medical Imaging market has immense growth opportunities in both developed and developing regions. The market in the developed countries is witnessing an increased adoption of medical imaging systems for high quality imaging, screening and diagnosing due to improved access and encouragement from the government & other healthcare institutions, especially in the US, Canada, France, Germany, and the UK.

The advances in technology and product upgradation is expected to increase the competition among the vendors. The market is highly dynamic with the presence of few big players who account for more than 65% share of the overall market. Siemens Healthcare, GE Healthcare, Philips Healthcare, Canon Medical Systems, Hitachi Medical, and Fujifilm Holdings Corp. dominated the market in 2017. Other companies like Carestream Health, Shimadzu Medical, Hologic, and Esaote SpA have negligible share and is expected compete strongly with the leading vendors in the market. The benefits such as safety, high quality images, easy monitoring and analysis of 3D images, obtaining high resolution images to show small breast cancers, and combination with multi-imaging systems have increased the demand of medical imaging devices in the market.

Medical Imaging Market Key competitive facts


  • The market is highly competitive with all the players competing to gain market shares. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.

  • The requirement of high initial investment, implementation, and maintenance cost in the market are also limiting the entry of new players.


Some of the key vendors in the Medical Imaging market are:



  • Siemens Healthcare

  • GE Healthcare

  • Philips Healthcare

  • Toshiba Medical Systems

  • Hitachi Medical

  • Fujifilm Holdings Corp.


Medical Imaging Market by Product



  • X-ray

  • MRI

  • Ultrasound

  • CT

  • Nuclear Imaging


In 2017, X-ray segment occupied a significant market share and is expected to maintain the highest market share during the forecast period.

Medical Imaging Market by Portability



  • Portable

  • Fixed


In 2017, the Fixed Medical Imaging Device segment occupied a significant market share and is expected to maintain the highest market share during the forecast period.

Medical Imaging Market by End-users



  • Hospitals

  • ASC

  • Diagnostics Centers

  • Others


In 2017, the hospitals occupied the highest market share in the global medical imaging market.

Medical Imaging Market Benefits

The report provides detailed information about the usage and adoption of Medical Imaging market in therapeutic verticals and regions. With that, key stakeholders can find out the major trends, drivers, investments, vertical player’s initiatives, government initiatives toward the adoption of medical devices segment in the upcoming years in the market. Moreover, the report provides details about the major challenges that are going to have an impact on market growth. Additionally, the report gives complete details about the business opportunities to key stakeholders to expand their business and capture revenues in the specific verticals. The report will help companies interested or established in this market to analyze the various aspects of this domain before investing or expanding their business in the Medical Imaging market.


1     Industry Outlook 

1.1        Medical Devices Industry

1.1.1     Overview

1.1.2     Geography

1.1.3     Medical technologies

1.1.4     Industry Trends

1.2        Healthcare Spending in the US

1.3        Regulatory Bodies & Standards

1.4        Reimbursement Scenario

1.5        Emerging Global Markets

1.6        Patient Demographics

1.7        Medical Imaging

1.7.1     Overview

1.7.2     Definition: Medical Imaging

1.7.3     Why Medical Imaging?

1.7.4     Evolution of X-ray Technology

1.7.5     PESTLE Analysis

2     Report Outline 

2.1        Report Scope

2.2        Report Summary

2.3        Research Methodology

2.4        Report Assumptions

3     Market Snapshot 

3.1        Total Addressable Market (TAM)

3.2        Segmented Addressable Market (SAM)

3.3        Opportunity Analysis

3.4        Strategic Initiatives

3.5        Related Markets

3.5.1     Ultrasound Devices

3.5.2     Medical X-ray Equipment

3.5.3     MRI Equipment

3.5.4     Mammography Devices

3.5.5     Healthcare X-ray Detectors

3.6        Porter 5 (Five) Forces

4     Market Characteristics 

4.1        Market Segmentation

4.1.1     General X-ray

4.1.2     MRI

4.1.3     Ultrasound

4.1.4     CT Scan

4.1.5     Nuclear imaging

4.2        Medical Imaging Market, By Portability

4.2.1     Portable Medical Imaging

4.2.2     Fixed Medical Imaging Market

4.3        Medical Imaging Market, By Imaging Type

4.3.1     2D Imaging

4.3.2     3D Imaging

4.3.3     4D imaging

4.3.4     5D imaging

4.4        Market Dynamics

4.4.1     Drivers Increase in adoption of advanced imaging systems Rise in number of diagnostic centers Government focuses towards cost-effective treatment to public Rise in demand of multi-modal imaging Widespread applications of medical imaging

4.4.2     Restraints High cost of imaging devices Unfavorable reimbursement plans Intense competition among vendors Lack of skilled radiologists

4.4.3     Opportunities Medical imaging to integrate with IT Development in medical imaging Introduction of artificial intelligence to aid radiology Early prevention and diagnosis Big data and analytical tools to enhance healthcare interoperability

4.4.4     DRO – Impact Analysis

4.5        Key Stakeholders

5     Industry Trends 

5.1        Market Trends & Impact

6     Buying Criteria 

7     End-users 

7.1        Overview

7.2        Hospitals

7.3        Ambulatory Care

7.3.1     ASCs in the Americas US Canada Mexico Cuba

7.3.2     ASCs in EMEA UK Germany France Israel Africa

7.3.3     ASCs in APAC Australia Japan India China

7.4        Diagnostic Centers

7.5        Others (Research Centers, Non-Profit Organizations, and Nursing Home)

8     Regions 

8.1        Overview

8.2        North America

8.2.1     Overview Key factors driving the market Snapshot of North America

8.3        Europe

8.3.1     Overview Key factors driving the market Snapshot of Europe

8.4        APAC

8.4.1     Overview Snapshot of APAC

8.5        Rest of the World

8.5.1     Overview Snapshot of ROW

9     Market Attractiveness 

9.1        Overview

9.2        Market Attractiveness by End-users

10  Competitive Landscape 

10.1     Competitor Comparison Analysis

10.1.1  Key Competitive Facts

11  Vendors Profile 

11.1     GE Healthcare

11.1.1  Overview

11.1.2  Business Units

11.1.3  Geographic Revenue

11.1.4  Business Focus

11.1.5  SWOT Analysis

11.1.6  Business Strategies

11.2     Philips Healthcare

11.2.1  Overview

11.2.2  Business Units

11.2.3  Geographic Revenue

11.2.4  Business Focus

11.2.5  SWOT Analysis

11.2.6  Business Strategies

11.3     Siemens Healthineers Inc.

11.3.1  Overview

11.3.2  Business Units

11.3.3  Geographic Revenue

11.3.4  Business Focus

11.3.5  SWOT Analysis

11.3.6  Business Strategies

11.4     Fujifilm Holdings Corp.

11.4.1  Overview

11.4.2  Business Units

11.4.3  Geographic Revenue

11.4.4  Business Focus

11.4.5  SWOT Analysis

11.4.6  Business Strategies

11.5     Canon Medical Systems Corp.

11.5.1  Overview

11.5.2  Business Segments

11.5.3  Geographic Revenue

11.5.4  Business Focus

11.5.5  SWOT Analysis

11.5.6  Business Strategies

11.6     Hitachi Medical Corp.

11.6.1  Overview

11.6.2  Business Units

11.6.3  Geographic Revenue

11.6.4  Business Focus

11.6.5  SWOT Analysis

11.6.6  Business Strategies

12  Companies to Watch for 

12.1     Shimadzu Corp.

12.1.1  Overview

12.1.2  Key Highlights

12.1.3  Key News

12.2     Thales Group

12.2.1  Overview

12.2.2  Key Highlights

12.2.3  Key News

12.3     Agfa-Gevaert N.V.

12.3.1  Overview

12.3.2  Key Highlights

12.3.3  Key News

12.4     Carestream Health Inc.

12.4.1  Overview

12.4.2  Key Highlights

12.4.3  Key News

12.5     Hologic Corp.

12.5.1  Overview

12.5.2  Key Highlights

12.5.3  Key News

13  Other Prominent Vendors 

14  Annexure

Research Framework

Infoholic research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting

Market related information is congregated from both primary and secondary sources.

Primary sources

involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources

include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.

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