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North America Medical Imaging Market Size, Share and Forecast (2024-2031)

North America Medical Imaging Market is segmented By Product (X-ray, Computed Tomography, Positron Emission Tomography (PET), Ultrasound System, MRI Equipment,  Nuclear Imaging, Tactile Imaging, Photoacoustic Imaging, Thermography, Elastography, Echocardiography, Others), By Applications (Cardiology, Orthopedics, Gastroenterology, Gynecology, Oncology, Neurology, Others), By End User (Hospitals, Diagnostic Centers, Specialty Clinics, Others)

Published: January 2025 || SKU: MI7703
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Report Overview

North America Medical Imaging Market reached US$ 13.9 billion in 2023 and is expected to reach US$ 19.2 billion by 2031, growing at a CAGR of 5.2% during the forecast period 2024-2031.

Medical imaging encompasses techniques and protocols used to generate visual representations of various anatomical regions for diagnosis and treatment.  Medical imaging procedures include non-invasive tests that allow doctors to diagnose injuries and diseases without being intrusive.

It also includes various radiological techniques, such as X-ray radiography, fluoroscopy, MRI, medical ultrasound or sonography, endoscopy, elastography, tactile imaging, thermography, medical photography, and nuclear medicine functional imaging methods like PET. Medical imaging is vital in every medical environment and at every level of healthcare.

 

Market Scope

MetricsDetails
CAGR5.2%
Market Size Available for Years2022-2031
Estimation Forecast Period2024-2031
Revenue UnitsValue (US$ Mn) 
Segments CoveredProduct, Application, End-User
Report Insights CoveredCompetitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights.

 

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Market Dynamics: Drivers & Restraints

Rising prevalence of chronic diseases requiring diagnostic imaging 

The increasing incidence of chronic diseases like cancer, cardiovascular disorders, and neurological conditions necessitates frequent and accurate diagnostic imaging for early detection, treatment planning, and monitoring. As the aging population grows and healthcare standards evolve, there's a heightened demand for medical imaging services, bolstering market growth.

For instance, according to the Centers for Disease Control and Prevention in 2024, it is stated that every year, about 805,000 people in the United States have a heart attack. Of these, 605,000 are a first heart attack, and 200,000 happen to be people who have already had a heart attack. To diagnose and manage heart conditions, healthcare providers use various imaging techniques, thus increasing the need for medical imaging. 

Additionally, according to the American Cancer Society Journals in 2024, 2,001,140 new cancer cases and 611,720 cancer deaths are projected to occur in the United States. This increase in the number of cancer cases is expected to increase the usage of medical imaging. Thus, the above factors are expected to drive market growth during the forecast period. 

High costs of advanced equipment

The initial capital investment for advanced medical imaging equipment such as MRI machines, CT scanners, and PET scanners is huge. This high initial cost might be a major obstacle for smaller healthcare facilities, clinics, and hospitals, especially in developing countries or for companies with limited resources. High prices can limit the availability of modern imaging technology in low- and middle-income countries. 

Market Segment Analysis

The North America medical imaging market is segmented based on product, application, and end-user.

The X-ray segment is expected to dominate the market share

The X-ray segment has the most significant share of the medical imaging equipment market due to the system's versatility and convenience. An X-ray is a noninvasive medical imaging test that helps physicians diagnose and treat medical conditions. X-rays diagnose skeletal systems, oral cavities, lungs, breast, digestive systems, and ingested objects. The growth in the X-ray segment is mainly due to its cost-effectiveness. 

Other factors responsible are technological advancements, increasing cancer and orthopedic diseases, and the growing aging population. Advanced X-ray equipment is patient-friendly and has high adoption rates.

For instance, in August 2022, GE Healthcare released its most advanced fixed X-ray system yet, the next-generation Definium 656 HD. This latest generation of the overhead tube suspension (OTS) system delivers consistent, highly automated, efficient exams that impart clinical confidence while simplifying workflow, improving consistency, and reducing errors to help keep radiology departments running smoothly. 

Market Segmentation

By Product

  • X-ray
  • Computed Tomography
  • Positron Emission Tomography (PET)
  • Ultrasound System
  • MRI Equipment
  • Nuclear Imaging
  • Tactile Imaging
  • Photoacoustic Imagin
  • Thermography
  • Elastography
  • Others 

By Application

  • Cardiology
  • Orthopedics
  • Gastroenterology
  • Gynecology
  • Oncology
  • Neurology
  • Others

By End-User

  • Hospitals
  • Diagnostic Centers
  • Specialty Clinics
  • Others

Market Competitive Landscape

The major players in the market include GE Healthcare, Siemens Healthineers, Philips Healthcare, Canon Medical Systems USA, Inc., Hologic Inc. FUJIFILM Medical Systems U.S.A., Inc., Mindray North America, Shimadzu Medical Systems USA, Ziehm Imaging Inc., and Esaote North America, Inc. among others.

Why Purchase the Report?

  • To visualize the North America medical imaging market segmentation based on product, application, and end-user, as well as understand key commercial assets and players.
  • Identify commercial opportunities by analyzing trends and co-development.
  • Excel data sheet with numerous data points of medical imaging market-level with all segments.
  • PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
  • Product mapping available as Excel consisting of key products of all the major players.

The North America medical imaging market report would provide approximately 53 tables, 47 figures, and 176 pages.

Target Audience 2024

  • Manufacturers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies
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FAQ’s

  • North America Medical Imaging Market reached US$ 13.9 billion in 2023 and is expected to reach US$ 19.2 billion by 2031

  • Key players are GE Healthcare, Siemens Healthineers, Philips Healthcare, Canon Medical Systems USA, Inc., Hologic Inc. FUJIFILM Medical Systems U.S.A., Inc., Mindray North America, Shimadzu Medical Systems USA, Ziehm Imaging Inc., and Esaote North America, Inc.
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