Medical imaging market to reach USD 62.42B by 2030

The global medical imaging market size was valued at USD 32.3 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2030. Increasing prevalence of lifestyle- related diseases, rising demand for early detection tools, technological advancements to improve turnaround time, increased investment and reimbursement initiatives undertaken by the government, and expansions of new facilities by market players in developing nations, is said to boost the market growth.

The key objective of the market insight report is to offer a complete assessment of the global market including major leading stakeholders of the Medical Imaging Market The current and historical status of the market together with forecasted market size and trends are demonstrated in the assessment in simple manner. In addition, the report delivers data on the volume, share, revenue, production, and sales in the market. The report is the end-product of a study performed using different methodologies including the PESTEL, PORTER, and SWOT analysis. The study with the help of these models shed light on the key financial considerations that players in the Medical Imaging market need to focus on identifying competition and formulate their marketing strategies for both consumer and industrial markets. The report leverages a wide spectrum of research methods including surveys, interviews, and social media listening to analyse consumer behaviours in its entirety.

The global medical imaging market is expected to grow at a 5.85% CAGR from 2024 to 2030. It is expected to reach above 62.42 USD billion by 2030 from 38.50 USD billion in 2023.

Dominating region:
North America dominated the market with 32.9% share as of 2022. The presence of a large number of industry players and the high frequency of new product launches within the region are the factors contributing to the regional market growth. The region exhibits high adoption of advanced, high-end medical imaging equipment due to favourable reimbursement scenario and funding’s from market players. North America accounts for the highest spending on healthcare in terms of GDP with the U.S. spending nearly 19.7% of GDP on healthcare as of 2020. The aforementioned factors, coupled with the increasing aging population, the rise of chronic diseases, and the growing trend of preventive diagnostic practices, are expected to drive the medical imaging industry in the region. Exactitude Consultancy