Global Medical Imaging Market to Increase by $11.0 Billion by 2023

Nuclear Imaging Is Fastest Growing Segment with 5.7% CAGR

March 12, 2019

WELLESLEY, Mass. March 12, 2019 – A new report “Medical Imaging: A BCC Research Outlook” predicts that the global market for medical imaging equipment will reach nearly $43.6 billion by 2023 at a compound annual growth rate (CAGR) of 5.1%. According to the report, the growing prevalence of chronic diseases, increasing geriatric populations and more frequent road accidents are increasing demand for imaging equipment around the world.

The report defines medical imaging instruments as the equipment and devices used for early detection and diagnosis of disease, which include MRI systems, X-ray systems, ultrasound devices, nuclear imaging and computerized tomography (CT). Since the invention of X-ray photographs in 1896, imaging technologies have progressed steadily, and can now produce ultra-high definition 3D images.

Companies making major contributions to this global medical imaging market include: Agfa Healthcare, Boston Scientific, Bruker Corp., Canon Inc. and GE Healthcare.

Report Highlights:

  • Market Analysis. The report identifies key market segments, including imaging technology types, the market for new applications, end users and high growth regional markets. X-ray systems currently hold the largest market share; however, nuclear imaging is expected to see the fastest growth through 2023.
  • Patent Analysis. The report provides a list of recent patents filed in Japan, Europe and the United States. 
  • Regulatory Standards. Regulations play a vital role in all healthcare industries, and significantly impact medical instrument manufacturers around the world. The report summarizes these regulations in the United States, Europe, India, Australia and China.

“The medical imaging market has witnessed noteworthy growth in the last few years,” the report notes. “Several factors, such as rapidly growing demand for bedside imaging, increased use of MRI and CT scans to assess the accuracy of post interventional medical procedures and anatomical confirmation, are fueling the growth of the industry. In addition, the increasing prevalence of diseases, such as cancer, orthopedic, dental cardiovascular and neurological disorders, is also driving the growth of the market.”

Demand Strong for Advanced Imaging Technologies

Hybrid PET/MRI and SPECT/CT systems have gained popularity in recent years, and are expected to see robust market growth, following the success of hybrid PET/CT systems. Hybrid systems provide clear and accurate images with better resolution compared to conventional imaging systems, and these systems can also provide morphological and physiological information in a single examination, unlike conventional standalone systems.

Editors/reporters requesting analyst interviews should contact Eric Surber at

Medical Imaging: A BCC Research Outlook( HLC233A )
Publish Date: Mar 2019    

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