Medical Imaging Market by Product, Application, and Geography - Global Forecast and Analysis 2019-2023

Medical Imaging Market by Product, Application, and Geography - Global Forecast and Analysis 2019-2023

Global Medical Imaging Market: About this market

Technavio’s medical imaging market analysis considers sales from X-ray imaging, ultrasound imaging, MRI, CT scanner imaging, and SPECT/PET imaging products. Our analysis report also considers the sales of medical imaging in Asia, Europe, North America, and ROW. In 2018, the X-ray imaging segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as technological advances and the increased adoption of portable and mobile X-ray systems will play a significant role in the X-ray imaging segment to maintain its market position. Also, our global medical imaging market report looks at factors such as the increasing prevalence of chronic conditions, increasing number of products launches by prominent vendors, and technological advancements and upgrades in medical imaging modalities. However, the high cost associated with medical imaging, product recalls, and stringent regulations associated withrelated to medical imaging equipment may hamper the growth of the medical imaging industry over the forecast period.

Global Medical Imaging Market: Overview

Technological advances and upgrades in medical imaging modalities

There has been an increase in the technological advances in medical imaging, aiming at improving the image quality, reducing the overall cost of diagnostic procedures, and providing accurate diagnoses with better patient care. Several vendors are conducting extensive research and development activities to produce advanced medical imaging solutions. Such advances include the development of portable and handheld equipment, 5D ultrasound equipment, innovations in digital X-rays with wireless DR detectors, and hybrid imaging equipment. Innovations Changes in medical imaging have led to the development of hybrid imaging modalities. The introduction of PET/CT was one of the most significant technological developments in hybrid imaging systems. This will lead to the expansion of the global medical imaging market at a CAGR of about 5% during the forecast period.

Integration of AI with medical imaging

The integration of Al with medical imaging enables users to automate and standardize complex diagnostic procedures, improve patient experience and outcomes, and reduces the cost of care. It also enhances the features of medical imaging equipment, which drives the growth of the global medical imaging market. Medical imaging produces a large volume of data from the results of X-rays, CT scans. MRIs. and other testing modalities. Al techniques, such as object detection and image segmentation, enable radiologists and technicians to identify and compare relevant patterns and other imaging data faster accurately. Global healthcare leaders, such as Siemens Healthineers and GE Healthcare, are expanding the role of Al in medical imaging through partnerships with medical technology companies. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global medical imaging market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of a few major players, the global medical imaging market is fairly concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position. In , and in line with this, this report provides a detailed analysis of few leading medical imaging manufacturers, that include Canon Inc., Carestream Health Inc., FUJIFILM Holdings Corp., General Electric Co., Hitachi Ltd., Hologic Inc., Koninklijke Philips NV, Samsung Electronics Co. Ltd., Shimadzu Corp., and Siemens Healthineers AG.

Also, the medical imaging market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
      • Table Product overview
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global medical devices market
      • Table Segments of global medical devices market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by product
    • Table Product - Market share 2018-2023 (%)
    • Comparison by product
      • Table Comparison by product
    • X-ray imaging - Market size and forecast 2018-2023
      • Table X-ray imaging - Market size and forecast 2018-2023 ($ millions)
      • Table Number of mammography machines per 1,000,000 inhabitants in various countries 2017
      • Table X-ray imaging - Year-over-year growth 2019-2023 (%)
    • Ultrasound imaging - Market size and forecast 2018-2023
      • Table Ultrasound imaging - Market size and forecast 2018-2023 ($ millions)
      • Table Ultrasound imaging - Year-over-year growth 2019-2023 (%)
    • MRI - Market size and forecast 2018-2023
      • Table MRI - Market size and forecast 2018-2023 ($ millions)
      • Table MRI examination per 1,000 inhabitants (2015 and 2016)
      • Table MRI - Year-over-year growth 2019-2023 (%)
    • CT scanner imaging - Market size and forecast 2018-2023
      • Table CT scanner imaging - Market size and forecast 2018-2023 ($ millions)
      • Table CT exams per 1,000 inhabitants (2018)
      • Table CT scanner imaging - Year-over-year growth 2019-2023 (%)
    • SPECT/PET imaging - Market size and forecast 2018-2023
      • Table SPECT/PET imaging - Market size and forecast 2018-2023 ($ millions)
      • Table SPECT/PET imaging - Year-over-year growth 2019-2023 (%)
    • Market opportunity by product
      • Table Market opportunity by product
  • Customer landscape
    • Table Customer landscape
  • Market segmentation by application
    • Table Global medical imaging market by application in 2018
    • Radiology
    • Cardiology
    • Orthopedics
    • Others
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Cancer incidence in five EU countries in 2018
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • Asia - Market size and forecast 2018-2023
      • Table Asia - Market size and forecast 2018-2023 ($ millions)
      • Table Asia - Year-over-year growth 2019-2023 (%)
    • ROW - Market size and forecast 2018-2023
      • Table ROW - Market size and forecast 2018-2023 ($ millions)
      • Table ROW - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Annual number of new cancer cases in US (2012-2015)
      • Table Number of cancer cases, excluding non-melanoma skin cancer in Europe 2018
      • Table Product launch details
      • Table M&A and their market impact analysis
    • Market challenges
      • Table Average cost of imaging modalities in medical imaging
      • Table Product recalls: Overview
      • Table Impact of drivers and challenges
  • Market trends
    • Integration of AI with medical imaging
    • Focus on portable, wearable, and wireless imaging devices
    • Increasing number of partnerships and collaborations
      • Table Partnerships and collaborations in medical imaging
    • Emergence of blockchain technology and growing demand for cloud computing in medical imaging
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Canon Inc.
      • Table Canon Inc. - Vendor overview
      • Table Canon Inc. - Product segments
      • Table Canon Inc. - Organizational developments
      • Table Canon Inc. - Geographic focus
      • Table Canon Inc. - Segment focus
      • Table Canon Inc. - Key offerings
      • Table Canon Inc. - Key customers
    • Carestream Health Inc.
      • Table Carestream Health Inc. - Vendor overview
      • Table Carestream Health Inc. - Business segments
      • Table Carestream Health Inc. - Organizational developments
      • Table Carestream Health Inc. - Key offerings
      • Table Carestream Health Inc. - Key customers
    • FUJIFILM Holdings Corp.
      • Table FUJIFILM Holdings Corp. - Vendor overview
      • Table FUJIFILM Holdings Corp. - Business segments
      • Table FUJIFILM Holdings Corp. - Organizational developments
      • Table FUJIFILM Holdings Corp. - Geographic focus
      • Table FUJIFILM Holdings Corp. - Segment focusa
      • Table FUJIFILM Holdings Corp. - Key offerings
      • Table FUJIFILM Holdings Corp. - Key customers
    • General Electric Co.
      • Table General Electric Co. - Vendor overview
      • Table General Electric Co. - Business segments
      • Table General Electric Co. - Organizational developments
      • Table General Electric Co. - Geographic focus
      • Table General Electric Co. - Segment focus
      • Table General Electric Co. - Key offerings
      • Table General Electric Co. - Key customers
    • Hitachi Ltd.
      • Table Hitachi Ltd. - Vendor overview
      • Table Hitachi Ltd. - Business segments
      • Table Hitachi Ltd. - Organizational developments
      • Table Hitachi Ltd. - Geographic focus
      • Table Hitachi Ltd. - Segment focus
      • Table Hitachi Ltd. - Key offerings
      • Table Hitachi Ltd. - Key customers
    • Hologic Inc.
      • Table Hologic Inc. - Vendor overview
      • Table Hologic Inc. - Business segments
      • Table Hologic Inc. - Organizational developments
      • Table Hologic Inc. - Geographic focus
      • Table Hologic Inc. - Segment focus
      • Table Hologic Inc. - Key offerings
      • Table Hologic Inc. - Key customers
    • Koninklijke Philips NV
      • Table Koninklijke Philips NV - Vendor overview
      • Table Koninklijke Philips NV - Business segments
      • Table Koninklijke Philips NV - Organizational developments
      • Table Koninklijke Philips NV - Geographic focus
      • Table Koninklijke Philips NV - Segment focus
      • Table Koninklijke Philips NV - Key offerings
      • Table Koninklijke Philips NV - Key customers
    • Samsung Electronics Co. Ltd.
      • Table Samsung Electronics Co. Ltd. - Vendor overview
      • Table Samsung Electronics Co. Ltd. - Product segments
      • Table Samsung Electronics Co. Ltd. - Organizational developments
      • Table Samsung Electronics Co. Ltd. - Geographic focus
      • Table Samsung Electronics Co. Ltd. - Segment focus
      • Table Samsung Electronics Co. Ltd. - Key offerings
      • Table Samsung Electronics Co. Ltd. - Key customers
    • Shimadzu Corp.
      • Table Shimadzu Corp. - Vendor overview
      • Table Shimadzu Corp. - Business segments
      • Table Shimadzu Corp. - Organizational developments
      • Table Shimadzu Corp. - Geographic focus
      • Table Shimadzu Corp. - Segment focus
      • Table Shimadzu Corp. - Key offerings
      • Table Shimadzu Corp. - Key customers
    • Siemens Healthineers AG
      • Table Siemens Healthineers AG - Vendor overview
      • Table Siemens Healthineers AG - Business segments
      • Table Siemens Healthineers AG - Organizational developments
      • Table Siemens Healthineers AG - Geographic focus
      • Table Siemens Healthineers AG - Segment focus
      • Table Siemens Healthineers AG - Key offerings
      • Table Siemens Healthineers AG - Key customers
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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