U.S. Medical Imaging Market Size, Share & Industry Analysis, By Type (Magnetic Resonance Imaging, Computed Tomography, X-ray, Ultrasound, and Molecular Imaging), By Application (Cardiology, Neurology, Orthopedics, Gynecology, Oncology, and Others), By End User (Hospitals, Specialty Clinics, Diagnostic Imaging Centers, and Others), and Country Forecast, 2024-2032

The U.S. medical imaging market size was worth USD 10.53 billion in 2023 and is projected to grow at a CAGR of 5.1% during the forecast period. 

The rising incidence of chronic diseases, such as neurology, cardiovascular disorders, and cancer, among others, and the increasing number of advanced healthcare imaging modalities have led to high emphasis on early diagnosis among the U.S population.

• As per statistics published by NCBI, in February 2022, about 0.8 million people suffer from stroke each year in the U.S. alone.

Thus, the surge in the prevalence of these diseases is leading to an increasing number of diagnostic imaging procedures across the healthcare systems, further propelling the growth market. The COVID-19 pandemic impeded a negative impact on the market in 2020 due to the significant decline in patient visits to hospitals for disease diagnosis across the country.

LATEST TRENDS

Introduction of AI-enabled Imaging Systems by Key Players

The rise in the launch of advanced medical imaging systems by industry players is one of the significant factors propelling the adoption of these devices across health settings. The increasing presence of advanced artificial intelligence-enabled imaging systems for early diagnosis and disease treatment in the U.S. is the major factor contributing to the growing demand for medical imaging devices.

• In November 2021, Koninklijke Philips N.V. launched a new AI-enabled Magnetic reasoning (MR) portfolio at the Radiological Society of North America (RSNA) 2021. The MR 5300 1.5T system simplifies and automates complex clinical and operational tasks, further driving consistent quality and sustainability for outpatient clinics and MR departments.

Thus, the rise in the introduction and demand for Artificial Intelligence (AI)-enabled equipment for diagnostic imaging across the country is driving the U.S. medical imaging market growth.

DRIVING FACTORS

Rising Launch of Advanced Systems by Industry Players to Drive the Adoption of Imaging Systems

Several factors, such as the growing emphasis on early diagnosis of debilitating disorders and the rise in the aging population in the U.S. are projected to propel the need for imaging systems. Similarly, the introduction of new systems, such as compact ultrasound and molecular imaging devices by leading players, are some of the major elements simulating the market growth.

• In February 2023, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. launched a new handheld ultrasound TE Air. The new device reportedly combines enhanced point-of-care ultrasound imaging with an array of practical benefits for radiologists.

Thus, the surge in the launch of several new systems in medical imaging is expected to spur their demand, further propelling the growth of the U.S. market.

RESTRAINING FACTORS 

Product Recalls by Regulatory Agencies to Limit Market Growth 

Recurrent product recalls of imaging equipment by federal agencies owing to increased system defects for safety and quality errors are one of the major factors expected to hamper the U.S. medical imaging market growth during the forecast period.

• In February 2021, Koninklijke Philips N.V. recalled 109 Incisive CT scanner systems for urgent medical device corrections in manufacturing actuators used in incisive CT couch and access CT systems, which could result in the couch unexpectedly moving slowly downward to limit position.

These factors, coupled with the rising presence of low-cost refurbished equipment, further restrict the adoption of innovative equipment in the U.S.

SEGMENTATION

By Type Analysis 

On the basis of type, the market is segmented into x-ray, magnetic resonance imaging, molecular imaging, computed tomography, and ultrasound.

The x-ray segment dominated the market in 2022, attributed to the increasing advancements of interventional x-ray devices by industry players, and the rise in the use of these systems, including C-arms, for image-guided surgeries nationwide.

• In July 2022, Koninklijke Philips N.V. announced integrating cloud-based AI and 3-D mapping into its mobile C-arm System Series Zenition to enhance workflow efficiency and improve endovascular treatment outcomes.

By Application Analysis 

Based on application, the market is segmented into orthopedics, cardiology, oncology, gynecology, neurology, and others.

The application segment was dominated by orthopedics in 2022. The higher share was attributable to the rising incidence rate of trauma and sports injuries among the population, further boosting the demand for medical imaging systems across healthcare settings.

• According to an article published by Radiology Associates of Ocala (RAO) in December 2022, more than 7.0 million sports and recreation-related injuries are reported in the U.S. each year, ranging from sprains to bone fractures to concussions.

By End user Analysis 

Based on end user, the market is segmented into diagnostic imaging centers, specialty clinics, hospitals, and others.

The diagnostic imaging centers segment dominated the market in 2022, owing to the rise in the number of diagnostic imaging centers due to high demand among the U.S. population.

• According to an article published by HealthCare Appraisers, Inc., in July 2021, within the outpatient segment, there are more than 6,000 Independent Diagnostic Testing Facilities (IDTFs) in the U.S.

KEY INDUSTRY PLAYERS

GE Healthcare, Koninklijke Philips N.V., and Siemens Healthcare GmbH are among the leading players operating in the imaging equipment market in 2022. The high emphasis of industry players on the introduction of technologically advanced and portable systems against traditional systems to aid in diagnostic imaging further propels the U.S. medical imaging market share.

• According to GE HealthCare statistics, in 2021, the new Vscan Air hand-held ultrasound device was installed in more than 100 countries in the U.S. and Europe.

Other key players, such as Shimadzu Corporation, Hitachi, Ltd., Samsung, Butterfly Inc., Analogic, and Hologic Inc., have also entered the U.S. market by introducing novel and technologically advanced devices. Moreover, rising initiatives of collaborations among key players to expand their existing product portfolio further drives their company growth.

• In April 2021, Hitachi, Ltd. launched its new Genius Digital Diagnostics System in collaboration with ZotzKlimas Diagnostics Laboratories in Germany. The new cervical cancer screening system combines deep learning-based Artificial Intelligence (AI) with advanced volumetric imaging technology to help identify women's pre-cancerous lesions and cervical cancer cells.

LIST OF KEY COMPANIES PROFILED:

• GENERAL ELECTRIC COMPANY (U.S.)


• Hitachi, Ltd. (Japan)


• Butterfly Inc. (U.S.)


• Analogic (U.S.)


• Shimadzu Corporation (Japan)


• Siemens Healthcare GmbH (Germany)


• Koninklijke Philips N.V. (Netherlands)


• Hologic, Inc. (U.S.)


• Samsung (South Korea)


• Fujifilm Holdings Corporation (Japan)

KEY INDUSTRY DEVELOPMENTS:

• March 2023 - Canon Medical announced the launch of the technologically advanced 80/160-slice Computed Tomography (CT) scanner Aquilion Serve at the European Congress of Radiology (ECR), which allows simultaneous previews of axial, lateral, and AP views.


• November 2022 - Siemens Healthcare GmbH introduced a new mobile magnetic resonance imaging scanner Magnetom Viato for mobile use across healthcare settings.


• October 2022 - GE HealthCare launched Omni Legend, a digital PET-CT system to drive efficiency, enhance diagnostics, and deliver precision medicine.

REPORT COVERAGE

The U.S. medical imaging market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Moreover, it offers insights into the market growth trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that contributed to the growth and advancement of the market in recent years.

Report Scope & Segmentation