Medical Imaging Market: Oncology & Cardiology Applications & Industry Expansion

According to IMARC Group's latest research publication, The global medical imaging market size reached USD 46.8 Billion in 2025. Looking forward, IMARC Group expects the market to reach USD 71.2 Billion by 2034, exhibiting a growth rate (CAGR) of 4.78% during 2026-2034.

How AI is Reshaping the Future of Medical Imaging Market

• Automated Image Analysis and Diagnostic Precision: AI algorithms process scans faster than ever, catching subtle patterns human eyes might miss. These smart systems cut down diagnostic errors and give radiologists more confidence when identifying cancers, heart conditions, and brain disorders.

• Predictive Analytics and Treatment Planning: Machine learning crunches massive imaging datasets to forecast disease progression and patient outcomes. Doctors can now create truly personalized treatment plans, especially for cancer and heart patients where timing makes all the difference in survival rates.

• Workflow Optimization and Radiologist Support: AI handles the tedious stuff like image segmentation and measurements, slashing radiologist workload by up to 30%. This frees up specialists to tackle complex cases while dramatically speeding up turnaround times for urgent diagnoses.

• Multi-Modal Integration and Comprehensive Diagnosis: Advanced AI pulls together data from CT, MRI, PET, and ultrasound scans with genetic information to build complete patient profiles. Foundation models in ophthalmology and beyond adapt to handle diverse diagnostic tasks across different imaging types.

• Real-Time Quality Control and Error Detection: Computer vision monitors scan quality as images are captured, flagging technical issues on the spot. AI systems catch potential problems instantly, ensuring only high-quality images reach radiologists and maintaining rock-solid diagnostic standards.

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Medical Imaging Industry Overview:

The medical imaging sector is experiencing remarkable growth thanks to cutting-edge technology and surging healthcare needs. North America dominates with a 36.5% market share, backed by world-class infrastructure and massive healthcare investment. The United States alone poured over USD 216 billion into imaging services, with government programs actively promoting early disease detection. GE Healthcare teamed up with Mass General Brigham in March 2024 to weave foundational AI models into imaging research, making responsible AI development a top priority. Their collaboration zeroes in on autonomous X-ray solutions and self-sufficient ultrasound applications. Meanwhile, the UK's National Health Service is prioritizing diagnostic services to slash waiting times, pumping significant investment into expanding CT and MRI scanner availability nationwide.

Medical Imaging Market Trends & Drivers:

• Chronic diseases are driving unprecedented demand for advanced imaging worldwide. Non-communicable diseases like heart problems, cancers, and diabetes cause over 70% of global deaths each year, according to the World Health Organization. The United Nations held its fourth High-level Meeting on NCDs in September 2025, checking progress on global health goals. Medical imaging has become absolutely essential for catching and monitoring these conditions early—MRI, CT scans, and ultrasound technologies enable doctors to intervene before it's too late. Several new PET scan radiotracers just got FDA approval, including specialized agents for spotting prostate cancer and neuroendocrine tumors.
• The world's aging population represents a fundamental force behind imaging market expansion. People aged 60 or above will hit 1.4 billion by 2030, according to WHO projections. Older folks face higher risks of broken bones, brain conditions, heart disorders, and cancers—all requiring frequent imaging for diagnosis and monitoring. MRI and CT scans pick up early signs of dementia and Alzheimer's, while echocardiography and CT angiography identify heart diseases. Healthcare systems are leaning more heavily on imaging for accurate, efficient diagnoses in elderly care.
• Technological breakthroughs in imaging and AI integration are completely revolutionizing what doctors can diagnose. Innovations including 3D and 4D imaging, machine learning algorithms, and portable handheld tech are boosting accuracy, speed, and accessibility. CE-certified AI products with solid peer-reviewed evidence jumped from 36% in 2020 to 66% in 2023, proving the market's maturing fast. Siemens Healthineers partnered with Prisma Health in July 2025, committing USD 50 million to enhance cancer care through the Ethos adaptive radiotherapy system. This AI-powered treatment adjusts to tumor changes in real-time, protecting healthy tissue while improving patient outcomes.

Leading Companies Operating in the Global Medical Imaging Industry:

• Canon Medical Systems Corporation

• Carestream Health

• Cubresa Inc.

• Esaote SpA

• FUJIFILM Sonosite, Inc.

• GE HealthCare

• Hitachi High-Tech Corporation

• Konica Minolta, Inc.

• Koninklijke Philips N.V.

• Samsung Healthcare

• Shenzhen Mindray Bio-Medical Electronics Co., Ltd

• Siemens Healthineers AG

Medical Imaging Market Report Segmentation:

By Product:

• CT Scanners

• X-Ray Imaging Systems

• MRI Systems

• Ultrasound Imaging Systems

• Nuclear Imaging Systems

• Mammography Systems

X-ray imaging systems represent the largest class, as they provide quick, non-invasive diagnostics enabling detection of fractures, infections, and abnormalities.

By Application:

• Obstetrics and Gynecology Health

• Orthopedics and Musculoskeletal

• Neuro and Spine

• Cardiovascular and Thoracic

• General Imaging

• Breast Health

• Others

Cardiovascular and thoracic accounts for the majority of the market share owing to the heightened occurrence of heart conditions, lung diseases, and vascular abnormalities.

By End User:

• Hospitals

• Diagnostic Centers

• Academic Institutes and Research Organizations

Hospitals represent the largest segment as they employ medical imaging systems for proper diagnosis of patients.

Regional Insights:

• North America (United States, Canada)

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) • Latin America (Brazil, Mexico, Others)

• Middle East and Africa

North America exhibits a clear dominance in the medical imaging market due to the presence of an advanced healthcare system.

Recent News and Developments in Medical Imaging Market

• July 2025: Siemens Healthineers and Prisma Health enhanced their Value Partnership to improve cancer care standards in Tennessee and South Carolina. Prisma Health's USD 50 million funding encompasses purchase of the Ethos adaptive radiotherapy system from Varian.

• July 2025: FUJIFILM Healthcare Americas Corporation declared the U.S. introduction of the FDR Go iQ, a cutting-edge portable digital radiography solution designed for hospitals and outpatient surgery centers.

• July 2025: Tigermed, a top international provider of clinical research solutions, purchased the CRO company Micron, Inc. After acquisition, Micron will be incorporated into Tigermed's global network as an important entity within Tigermed Japan.

• May 2025: Neuberg Diagnostics, a prominent diagnostic service provider, established a joint venture with Maharashtra's Star Imaging to broaden integrated diagnostic centres throughout the state. The partnership unites radiology, pathology, wellness, and genomics within a single framework, enhancing accuracy and expediting diagnosis by combining various diagnostic modalities.

• May 2025: Lunit established a five-year collaboration with private radiology network Starvision Service to implement multiple medical imaging AI solutions throughout its 79 locations. These consist of software tools for examining images of the chest, breast, and fractures.

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