Radiology Market Size
Radiology Market Size reached US$ 33.0 billion in 2024 and is expected to reach US$ 57.3 billion by 2033, growing at a CAGR of 6.4% during the forecast period 2025-2033.
The radiology market has experienced significant growth in recent years, driven by the increasing prevalence of chronic diseases and rising technological advancements. Innovations like AI integration, portable imaging devices, and wearable technologies have enhanced diagnostic capabilities, contributing to market growth. For instance, in October 2024, in partnership with Princeton Radiology, Ezra unveiled’s AI-powered, full-body MRI technology to detect cancer and seek intervention as early as possible, for better chances of recovery. These advancements by market players are further boosting the market growth.
Executive Summary

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Radiology Market Dynamics: Drivers & Restraints
Rising technological advancements in imaging systems are significantly driving the radiology market growth
Artificial intelligence (AI) algorithms can analyze radiological images with high precision, detecting even subtle abnormalities that might be missed by human radiologists. Thus, major market players and emerging players are focusing on AI-enabled radiology, which is driving the growth of the radiology market.
For instance, in May 2025, GE HealthCare launched CleaRecon DL, a technology powered by a deep-learning algorithm, to improve the quality of cone-beam computed tomography (CBCT) images. This artificial intelligence (AI)-driven solution is designed to remove streak artifacts caused by the pulsatile nature of blood flow in the arteries and changes in the distribution of contrast during CBCT acquisitions in liver, prostate, neuro, and endovascular aortic repair procedures. CleaRecon DL received U.S. FDA 510(k) clearance and CE mark and will be available for use on the Allia platform.
The transition from traditional film-based radiography to digital systems and software enables faster image processing, better storage, and easier sharing of diagnostic results. Cloud-based software and systems allow radiologists to access and interpret images remotely, improving accessibility and reducing diagnostic delays.
For instance, in June 2024, Carestream introduced Image Suite MR 10 Software to help radiographers increase productivity and efficiency while also providing a more user-friendly imaging experience. Carestream's Image Suite Software, which includes a user-friendly interface, specialized measuring tools, and an optional Mini-PACS module, improves imaging performance for both Computed Radiography (CR) and Digital Radiography (DR) systems. These new capabilities help take Image Suite Software to the next level, providing a drastically better imaging experience.
Radiation exposure concerns are hampering the growth of the radiology market
Prolonged or excessive exposure to radiation, especially from imaging procedures like X-rays and CT scans, increases the risk of developing cancer. For instance, according to the National Institute of Health (NIH), from 0.50 mSv in radiology alone to 2.29 mSv in diagnostic radiology, interventional radiology, and nuclear medicine, the average radiation dose from diagnostic radiology has grown dramatically. According to the most recent data, the chance of developing cancer has doubled for the same dosage. With current radiation exposure, the increased risk is 4.1% with revised risk estimations, the risk rises to 8.2%.
While radiation exposure is a necessary component of many diagnostic imaging procedures, growing concerns over its risks have influenced the radiology market's growth. Stricter regulations, patient hesitance, and the push for safer, non-radiation-based alternatives are key factors limiting the market potential for traditional radiology. However, innovations in low-radiation technologies and efforts to adhere to safety guidelines are helping to address these concerns, mitigating their negative impact on the market.
Radiology Market Segment Analysis
The global radiology market is segmented based on imaging modality, technology, application, Procedure type, end-user, and region.
The X-ray imaging from the imaging modality segment is expected to hold 21.05% of the market share in 2024 in the radiology market
X-ray imaging is used extensively for diagnosing bone fractures, joint issues, chest conditions, and dental problems. Its versatility makes it the first-line diagnostic tool in many clinical settings. The development of portable X-ray systems helps healthcare practitioners to simplify the process of taking X-rays with advanced features and by moving the X-ray systems where needed. Advancements in X-ray imaging by market players are boosting the segment growth.
For instance, in January 2025, OXOS Medical launched its MC2 Portable X-ray System by achieving FDA 510(k) clearance. The X-ray device is portable and cordless, allowing healthcare practitioners to simplify the process of taking X-rays in traditional and non-traditional spaces. MC2 will have a profound impact on imaging by giving clinics clear imaging for a confident diagnosis, easy-to-use features for an efficient office, and freedom to move the device where needed, without hassle. MC2’s small scatter area and low radiation output can reduce the space and infrastructure needs required by larger systems.
The shift from traditional film-based X-rays to digital radiography (DR) has improved image quality, reduced radiation exposure, and enhanced the efficiency of diagnostic workflows. DR systems provide clearer, higher-resolution images with quicker processing times and easier storage and sharing capabilities. The adoption of digital X-ray systems by major healthcare providers like Siemens Healthineers has contributed to higher diagnostic accuracy and quicker turnaround times for radiologists.
For instance, in July 2024, Siemens Healthineers announced that the Multix Impact E digital radiography X-ray machine will now be manufactured in India, marking a significant milestone in the company's commitment to providing better access to care for patients in the country. The Multix Impact E is a floor-mounted system featuring all the necessary tools for easy, intuitive system operation and allows for the detection of anatomical details at low doses of radiation, ensuring patient safety and quality healthcare.
Radiology Market Geographical Analysis
North America is expected to dominate the global radiology market with a 42.79% share in 2024
North America, especially the United States, is home to several key players in the medical device and imaging market, including GE Healthcare, Siemens Healthineers, Carestream Health, and other emerging players, who continuously innovate and improve imaging technologies, such as AI-driven systems, low-dose CT scanners, and advanced MRI machines. These rising technological advancements by market players are driving the market growth in the region.
For instance, in December 2024, GE Healthcare announced the research on one of the industry’s first full-body 3D Magnetic Resonance Imaging (MRI) foundation models, designed to enable developers to build applications for tasks such as image retrieval, classification, image segmentation, and report generation. With this new multipurpose, multimodal model, developers could build applications that allow clinicians to interact with full 3D organ models in a single computational pass.
Asia-Pacific is growing at the fastest pace in the radiology market, holding 21.94% of the market share
Asia-Pacific, especially China, India, and Japan witnessing rapid adoption of the latest imaging technologies such as AI-driven diagnostic tools, digital radiography, and low-dose CT scans. These technologies are improving diagnostic accuracy, reducing radiation exposure, and making imaging services more affordable and accessible. In India, many major market players such as Carestream Health, Siemens Healthineers, and GE Healthcare are actively expanding their products with advanced features, providing state-of-the-art imaging systems.
For instance, in January 2025, Royal Philips, a global leader in health technology, launched the artificial intelligence (AI) enabled CT 5300 at the 23rd Asian Oceanian Congress of Radiology (AOCR) 2025. Philips CT 5300 system, equipped with advanced AI capabilities, is designed for diagnosis, interventional procedures, and screening. The flexible X-ray CT system increases diagnostic confidence, streamlines workflow efficiency, and maximises system uptime, helping to improve patient outcomes and department productivity.
There is a growing awareness of the importance of early disease detection and preventive healthcare across the region. This awareness is driving people to seek regular medical check-ups and diagnostic imaging, particularly for detecting cancers, heart diseases, and neurological conditions. In countries like Japan and South Korea, early cancer screening programs have become more common, which drives the demand for diagnostic imaging technologies like CT scans, mammograms, and ultrasound.
Radiology Market Major Players
The major global players in the radiology market include GE HealthCare, Koninklijke Philips N.V., FUJIFILM Holdings Corporation, Carestream Health, Hologic, Inc., Stryker Corporation, Boston Scientific Corporation, Siemens Healthineers AG, CANON MEDICAL SYSTEMS USA, INC., and Shimadzu Corporation, among others.
Radiology Market Key Developments
In April 2025, SPARK Radiology, an innovator in medical imaging solutions, announced the India launch of SPARK.ai, a powerful new technology platform built to transform how radiologists manage their daily reporting workflows. In a healthcare environment where radiologists are under increasing pressure, SPARK.ai introduces a reimagined approach to workflow design, reducing manual overhead, enabling faster report turnaround, and helping radiologists focus on what truly matters: delivering accurate and timely diagnoses.
In February 2025, DeepHealth, Inc. introduced next-generation AI-powered radiology informatics and population screening solutions at the European Congress of Radiology (ECR) 2025 in Vienna. DeepHealth’s solutions are powered by DeepHealth OS, a secure, scalable, and cloud-native operating system that integrates data across various solutions and enables interoperability with broader healthcare IT ecosystems. Moreover, to enable AI adoption at scale, DeepHealth has established strategic collaborations enabling integrated solutions with ecosystem industry leaders.
In September 2024, Harrison.ai unveiled Harrison.rad.1, a dialogue-based vision language model tailored to radiology that can engage in open-ended conversation about X-ray pictures. With a focus on clinical safety and accuracy, it can identify and pinpoint radiological abnormalities and provide reports.
In November 2024, Thomson Hospital Kota Damansara unveiled United Imaging's cutting-edge 3T MRI Machine, a significant leap in imaging technology that will raise patient care standards. This cutting-edge scanner is expected to improve diagnostic accuracy, increase patient comfort, and speed up the imaging process, bolstering the hospital's continuous commitment to offering world-class healthcare services.
Radiology Market Scope
Metrics | Details | |
CAGR | 6.4% | |
Market Size Available for Years | 2022-2033 | |
Estimation Forecast Period | 2025-2033 | |
Revenue Units | Value (US$ Bn) | |
Segments Covered | Imaging Modality | X-Ray Imaging, Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Ultrasound Imaging, Mammography, Angiography, Nuclear Medicine Imaging, Positron Emission Tomography, and Others |
Technology | Digital Radiology, Analog Radiology, and AI-Enabled Radiology | |
Application | Oncology, Cardiology, Neurology, Orthopedics, Obstetrics and Gynecology, Others | |
Procedure Type | Diagnostic Radiology and Interventional Radiology | |
End-User | Hospitals, Specialty Clinics, Diagnostic Centers, Academic and Research Institutes, and Others | |
Regions Covered | North America, Europe, Asia-Pacific, South America, and the Middle East & Africa |
The global radiology market report delivers a detailed analysis with 78 key tables, more than 82 visually impactful figures, and 198 pages of expert insights, providing a complete view of the market landscape.