Top 10 Medical Imaging Companies | Provides Best Diagnostics

Samruddhi Yardi
Samruddhi Yardi

Updated · Oct 31, 2024

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Medical Imaging Market Overview

Medical imaging companies encompass various techniques to visualize the body’s interior for diagnostic and therapeutic purposes.

Key modalities include X-ray imaging, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), and nuclear medicine. Each serves distinct clinical applications, from diagnosing fractures to monitoring cancer treatment.

Medical imaging is vital for accurate diagnosis, treatment guidance, and research. With advancements such as artificial intelligence and hybrid imaging techniques enhancing its effectiveness.

As the field evolves, portable imaging devices and improved technologies are expected to increase accessibility and precision in patient care further.

Market Drivers

The global medical imaging market is expanding rapidly, driven by several factors. Including the rising prevalence of chronic diseases and an aging population, which increase the demand for advanced diagnostic imaging.

Technological advancements, such as high-resolution imaging modalities and AI integration, enhance diagnostic accuracy and efficiency.

Additionally, increased healthcare expenditure and a growing preference for minimally invasive procedures further boost market growth.

Heightened awareness of the importance of early diagnosis and supportive government initiatives also play crucial roles. Emerging markets in developing regions present significant opportunities for expansion in medical imaging services.

Market Size

The global medical imaging market is expected to grow from USD 29.2 billion in 2022 to USD 48.8 billion by 2032, with a CAGR of 5.40%.

Medical Imaging Market

List of Major Companies

These are the top 10 companies operating in the Medical Imaging Market:

Siemens

Company Overview

Establishment Year1847
HeadquarterMunich, Germany
Key ManagementRoland Busch (CEO)
Revenue (US$ Bn)$ 81.8 Billion (2022)
Headcount~ 320,000 (2023)
Websitehttps://www.siemens.com/

About Siemens

Siemens Healthineers, a leader in medical imaging companies, has expanded its portfolio through strategic initiatives.

Including a $60 million partnership with University Hospital Nantes to integrate sustainable imaging technologies like CT, MRI, and interventional equipment.

The introduction of photon-counting CT technology with the Naeotom Alpha aims to deliver high-resolution imaging to 1 billion patients over the next decade.

Additionally, Siemens launched the Biograph Trinion PET/CT scanner and advanced cardiac imaging solutions, along with AI-enhanced ultrasound systems.

Ongoing investments, including a €250 million MRI facility. Underscore its commitment to advancing imaging technologies and enhancing global patient care, solidifying its role in personalized medicine.

Geographical Presence

Siemens AG, based in Munich, Germany, operates globally in sectors such as electrification, automation, digitalization, and healthcare.

Its presence extends across Europe, North America, Latin America, Asia-Pacific, and the Middle East and Africa, with key markets including Germany, the United States, China, and Brazil.

The company focuses on infrastructure projects and energy solutions. Siemens Healthineers delivers medical technology worldwide, particularly in North America and Europe.

This diverse geographical footprint allows Siemens to capitalize on opportunities and uphold its commitment to innovation and sustainability across various industries.

Recent Developments

  • In October 2024, Siemens sold its Innomotics to KPS Capital Partners for EUR 3.5 billion.
  • In October 2024, Siemens Healthineers secured a $60.3 million imaging partnership with University Hospital Nantes, the largest in France. This 12-year agreement will cover 13 public hospitals, focusing on new equipment and sustainability.

GE

Company Overview

Establishment Year1994
HeadquarterChicago, Illinois, United States
Key ManagementPeter Arduini (CEO)
Revenue (US$ Bn)$ 19.6 B (2023)
Headcount~ 51,000 (2023)
Websitehttp://www.gehealthcare.com/

About GE Healthcare

GE Healthcare Technologies, Inc. has strengthened its position in medical imaging companies through strategic acquisitions and innovations aimed at precision healthcare.

The acquisition of MIM Software enhances imaging analytics in oncology, urology, and neurology. Helping clinicians streamline workflows and personalize patient care.

Additionally, the purchase of clinical AI assets from Intelligent Ultrasound improves its ultrasound technology by integrating AI for greater diagnostic efficiency.

GE HealthCare has also launched the Revolution Apex platform for advanced cardiac imaging and cloud-based Enterprise Imaging solutions.

Providing radiologists with remote access to diagnostics. These initiatives demonstrate GE HealthCare’s commitment to leveraging AI and digital solutions to improve diagnostic accuracy and operational efficiency in healthcare.

Geographical Presence

GE Healthcare Technologies, Inc., a subsidiary of General Electric, is a prominent provider of medical technologies with a strong global presence.

Headquartered in Chicago, Illinois, it focuses on imaging and diagnostics across key North American markets, including the U.S. and Canada.

In Europe, it operates in the UK, Germany, France, and Italy, utilizing advanced healthcare systems. The company is investing in China and India to address growing healthcare demands in the Asia-Pacific region.

Additionally, it is expanding in Latin America and the Middle East. Particularly in Brazil, Mexico, the UAE, and South Africa, offering tailored solutions for local healthcare needs. This strategic focus improves global healthcare access and delivery.

Recent Developments

  • In October 2024, GE HealthCare launched Aurora, a new SPECT/CT with AI-powered technologies.
  • In April 2024, GE HealthCare added MIM Software’s imaging analytics and digital workflow solutions to its medical technology and pharmaceutical diagnostics portfolio.

Philips

Company Overview

Establishment Year1891
HeadquarterAmsterdam, Netherlands
Key ManagementRoy Jakobs (CEO)
Revenue (US$ Bn)$ 19.6 Billion (2022)
Headcount~ 69,656 (2023)
Websitehttp://www.philips.com/

About Philips

Koninklijke Philips N.V. has established itself as a leader in medical imaging companies by integrating AI and cloud services into its diagnostic solutions.

Key launches include the AI-enabled CT 5300, which enhances efficiency in cardiology and trauma by reducing radiation exposure.

The company has also expanded its teleradiology solutions for remote diagnostics. Aiding radiology departments in managing workloads, and acquired Direct Radiology’s platform to strengthen its telehealth efforts.

Additionally, the BlueSeal MRI, the first mobile MRI without helium, addresses environmental concerns while providing flexibility.

Through these innovations, Philips emphasizes accessible, efficient, and sustainable technologies to meet the growing demands in healthcare services.

Geographical Presence

Koninklijke Philips N.V., a global leader in health technology, operates across key regions. Including Europe, North America, Asia-Pacific, and Latin America.

Its headquarters in Amsterdam oversees significant markets such as Germany, the United States, China, and Brazil.

Where it focuses on healthcare solutions, consumer products, and sustainable lighting. Philips emphasizes innovation and local partnerships to tailor its offerings to regional needs, particularly in diagnostic imaging, telehealth, and affordable healthcare.

The company’s commitment to sustainability and advanced digital health platforms positions it effectively to meet the diverse demands of global markets and enhance health outcomes worldwide.

Recent Development

  • In October 2024, Philips launched the Philips Avent Connected Baby Monitor with a mobile app.
  • In February 2024, Philips launched the CT 5300 system, featuring advanced AI capabilities for diagnosis, interventional procedures, and screening.

Canon

Company Overview

Establishment Year1937
HeadquarterTokyo, Japan
Key ManagementFujio Mitarai (CEO)
Revenue (US$ Bn)$ 28.9 Billion (2023)
Headcount~ 169,151 (2022)
Websitehttps://global.canon/en/

About Canon

Canon Inc. is expanding in the medical imaging companies/sector through strategic investments and partnerships to enhance its capabilities globally.

In early 2023, the company launched Canon Healthcare USA in Cleveland, Ohio, with a $300 million investment aimed at advancing imaging technologies in the U.S.

This includes collaborations with the Cleveland Clinic to develop imaging solutions for cardiology, neurology, and musculoskeletal medicine.

Canon is also introducing photon-counting CT technology, which provides sharper images at lower radiation levels, to capture a leading share of the CT market.

This expansion underscores Canon’s commitment to growth in diagnostic imaging and healthcare IT. Emphasizing improved patient care through advanced technology and research partnerships.

Geographical Presence

Canon Inc., headquartered in Japan, has a robust global presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Its U.S. headquarters in Melville, New York, manages significant manufacturing and R&D. In Europe, Canon operates from Amstelveen, Netherlands, serving key markets such as the UK, Germany, and France.

The company is also expanding in Asia-Pacific, particularly in China and Southeast Asia. While focusing on Brazil and Mexico in Latin America and strengthening partnerships in the UAE and South Africa.

This diverse presence allows Canon to customize its products for local markets and improve supply chain efficiency, driving global growth.

Recent Development

  • In October 2024, Canon U.S.A. launched the Canon Student Professional Services membership program.
  • In November 2023, Cleveland Clinic and Canon Inc. partnered to develop innovative imaging and healthcare IT technologies to improve patient diagnosis and care.

Hitachi

Company Overview

Establishment Year1910
HeadquarterTokyo, Japan
Key ManagementKeiji Kojima (CEO)
Revenue (US$ Bn)$ 67.3 B (2023)
Headcount~ 268,655 (2024)
Websitehttps://www.hitachi.com/

About Hitachi

Hitachi, Ltd. is enhancing its medical imaging companies/sector by consolidating healthcare operations into Hitachi High-Tech, set for completion in 2024.

This move will allow the company to leverage its digital diagnostics expertise in particle therapy and genomics.

In 2023, Hitachi delivered a proton therapy system to Hong Kong’s HKSH Medical Group, advancing patient-friendly cancer treatment in Asia.

The company also focuses on personalized medicine through partnerships with organizations like Mass General Brigham.

These efforts align with Hitachi’s “Diagnosis x Treatment x Digital” strategy, aimed at providing minimally invasive, high-precision healthcare solutions globally.

Geographical Presence

Hitachi, Ltd., a Tokyo-based multinational conglomerate, operates across a diverse range of industries, including information technology and social infrastructure.

Its significant geographical presence spans Asia-Pacific, with key operations in Japan, China, and Southeast Asia; North America, particularly in the U.S. and Canada; Europe, with strong involvement in the UK and Germany; Latin America, focusing on Brazil and Mexico; and the Middle East and Africa, including the UAE and South Africa.

This global footprint enables Hitachi to leverage local expertise while providing innovative technology-driven solutions, enhancing its competitive advantage in the marketplace.

Recent Developments

  • In October 2024, Hitachi acquired MA Micro Automation GmbH from MAX Management GmbH.
  • In October 2024, Hitachi launched two detectors of Vortex SDDs, the Vortex-ES4 and the Vortex-ME16.

Fujifilm

Company Overview

Establishment Year1934
HeadquarterTokyo, Japan
Key ManagementTeiichi Goto (CEO)
Revenue (US$ Bn)$ 20.5 Billion (2023)
Headcount~ 72,754 (2023)
Websitehttp://holdings.fujifilm.com/

About Fujifilm

Fujifilm Holdings Corporation has strategically positioned itself in the medical imaging companies/sector by focusing on innovative diagnostic solutions and advanced imaging technologies, supported by recent acquisitions and product developments.

In 2021, the company enhanced its imaging portfolio by acquiring Hitachi’s diagnostic imaging business, integrating advanced CT and MRI technologies with its proprietary AI platform, REiLI, for improved diagnostic support.

The launch of the FCT iStream, a 128-slice computed tomography system, highlights reduced radiation doses, enhanced imaging clarity, and streamlined workflows.

This expansion aligns with Fujifilm’s long-term healthcare strategy to provide comprehensive imaging solutions across hospital departments.

Geographical Presence

Fujifilm Holdings Corporation, headquartered in Tokyo, Japan, has a significant global presence across Japan, Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.

Originally focused on photographic film, it has diversified into healthcare imaging, industrial solutions, and document services.

Japan remains crucial, while China and South Korea are key hubs in the Asia-Pacific. In North America, particularly the U.S., Fujifilm operates through various subsidiaries, and its European activities leverage local partnerships.

Latin America and the Middle East are emerging markets for its healthcare solutions, showcasing Fujifilm’s innovative leadership across industries.

Recent Developments

  • In October 2024, Fujifilm Middle East and Africa launched a new office in New Cairo, Egypt.
  • In May 2024, Fujifilm launched the FUJINON Lens XF16-50mmF2.8-4.8 R LM WR.

Hologic

Company Overview

Establishment Year1985
HeadquarterMarlborough, Massachusetts, U.S.
Key ManagementStephen P. MacMillan (CEO)
Revenue (US$ Bn)$ 4.8 Billion (2022)
Headcount~ 6,944 (2022)
Websitehttp://www.hologic.com/

About Hologic

Hologic, Inc., a leading company in medical imaging companies and women’s health, has expanded its portfolio through strategic acquisitions to enhance its breast health and ultrasound capabilities.

In 2024, Hologic acquired Endomagnetics Ltd. for approximately $310 million, adding advanced tools like Magseed and Magtrace for breast cancer surgery, which are expected to enhance diagnostics and surgical precision.

Additionally, Hologic plans to acquire Gynesonics, Inc. for $350 million, incorporating the FDA-approved Sonata System for real-time ultrasound-guided treatment of uterine fibroids.

These acquisitions reflect Hologic’s commitment to minimally invasive women’s health solutions, providing physicians with more options and fostering innovation in the field.

Geographical Presence

Hologic, Inc., headquartered in Marlborough, Massachusetts, is a global medical technology company focused on women’s health, diagnostics, and surgical products.

Its significant geographical presence includes major markets such as the United States, Canada, and Western Europe, where it offers advanced breast health and gynecological solutions.

In the Asia-Pacific region, Hologic targets growth in countries like Australia, New Zealand, and China, emphasizing partnerships to enhance healthcare access.

The company also seeks opportunities in Latin America and the Middle East, focusing on local market adaptations and innovations.

This strategic approach allows Hologic to effectively address diverse healthcare needs and maintain a competitive edge in the global medical technology landscape.

Recent Developments

  • In October 2024, Hologic acquired Gynesonics, Inc., a private medical device company specializing in minimally invasive women’s health solutions.
  • In July 2024, Hologic acquired Endomagnetics Ltd, a privately held UK-based developer of breast cancer surgery technologies

Agfa

Company Overview

Establishment Year1867
HeadquarterMortsel, Belgium
Key ManagementPascal Juéry (CEO)
Revenue (US$ Bn)$ 1.2 Billion (2022)
Headcount~ 5,026 (2022)
Websitehttp://www.agfa.com/

About Agfa-Gevaert

Agfa-Gevaert N.V. is making strides in the medical imaging companies/sector through its Radiology Solutions and Enterprise Imaging platforms, offering comprehensive diagnostic tools for hospitals and imaging centers globally.

Key innovations include “Smart Rotate” for automatic image orientation and “Zero Force Technology” for better ergonomics in mobile X-ray equipment.

Moreover, the company’s recent partnership with the AWS Partner Network enhances the scalability of its cloud-based imaging solutions, easing IT burdens and meeting growing data management needs.

Additionally, Agfa’s RUBEE® AI platform leverages advanced artificial intelligence to streamline radiology workflows, diagnosis, and collaboration, reinforcing its commitment to secure, scalable data solutions amid increasing imaging demands and healthcare digitization.

Geographical Presence

Agfa-Gevaert N.V., based in Mortsel, Belgium, operates worldwide in the imaging and information technology sectors, focusing on healthcare, graphic systems, and specialty products.

The company has a strong presence in Europe, significantly contributing to its revenue and important operations in North America, especially in medical imaging and IT.

In the Asia-Pacific region, Agfa-Gevaert targets rapid growth and emerging markets, while in Latin America, it aims to expand with customized solutions.

The Middle East and Africa also offer opportunities to increase market share through local partnerships. This extensive geographical reach enables Agfa-Gevaert to mitigate risks and adapt solutions to regional needs.

Recent Development

  • In February 2024, Agfa-Gevaert partnered with SMARTECH Business Systems to provide access to its inkjet printing solution in Australia.
  • In February 2024, Agfa-Gevaert collaborated with VITO to develop a new generation of separator membranes for alkaline water electrolysis.

Mindray

Company Overview

Establishment Year1991
HeadquarterShenzhen, Guangdong, China
Key ManagementLi Xiting (CEO)
Revenue (US$ Bn)$ 4.9 Billion (2022)
Headcount~ 18,044  (2022)
Websitehttp://www.mindray.com/

About Mindray

Mindray has strengthened its position in the medical imaging companies/sector through recent advancements and strategic product launches.

Further, the company recently introduced Hepatus 6, a groundbreaking diagnostic ultrasound system integrating transient elastography for liver disease evaluation.

Marking its entry into a growing segment aimed at non-invasive liver diagnostics. Additionally, Mindray launched new ultrasound systems within its imaging suite.

Targeting expanded applications in cardiology and general imaging, further enhancing its portfolio to cater to diverse clinical needs.

Further, these developments align with Mindray’s continued focus on technological innovation and its goal to meet evolving demands in diagnostic imaging across global markets.

Geographical Presence

Mindray Medical International Limited, headquartered in Shenzhen, China, is a leading global provider of medical devices specializing in patient monitoring, life support, in vitro diagnostics, and medical imaging.

The company operates extensively across various regions. Including a dominant presence in China and significant expansions in North America, Europe, Latin America, and the Middle East.

By tailoring products to meet regional healthcare needs, forming strategic partnerships, and investing in R&D.

Further, Mindray is well-positioned to capitalize on the increasing global demand for advanced medical technologies, thereby improving healthcare outcomes worldwide.

Recent Development

  • In June 2024, Mindray signed an agreement with Inpeco SA to drive further advancements in healthcare.
  • In January 2024, Mindray launched the UX Series 4K/NIR Endoscope Camera System.

Revvity

Company Overview

Establishment Year2023
HeadquarterWaltham, Massachusetts, U.S.
Key ManagementPrahlad Singh (CEO)
Revenue (US$ Bn)$ 2.7 Billion (2023)
Headcount~ 11,000 (2023)
Websitehttp://revvity.com/

About Revvity

Revvity, Inc., a recent spinoff from PerkinElmer, specializes in medical imaging companies/technologies that enhance drug discovery and biomedical research.

The company has launched advanced imaging solutions, such as the IVIS Spectrum 2 and SpectrumCT 2 for bioluminescence and fluorescence imaging, along with the Quantum GX3 micro CT and Vega ultrasound systems.

Further, these products provide improved sensitivity and high spatial resolution for in vivo and ex vivo imaging, supporting fields like oncology, cardiology, and regenerative medicine.

The transition to the Revvity brand enables a focused approach to life sciences and diagnostics. Aligning with its mission to accelerate medical research through innovative imaging solutions.

Geographical Presence

Revvity, Inc., previously PerkinElmer, Inc., is a prominent global provider of scientific and technological solutions in the life sciences, diagnostics, and environmental testing sectors.

Based in Waltham, Massachusetts, the company has a strong presence in North America, especially in the U.S. and Canada, and key European markets like the U.K., Germany, France, and Italy.

Revvity is expanding its footprint in China, Japan, and India in the Asia-Pacific region while exploring opportunities in Latin America and the Middle East.

By forming strategic partnerships with academic and industry leaders. Revvity aims to foster innovation and effectively meet the needs of its diverse global clientele.

Recent Developments

  • In June 2024, Revvity and Bionano Genomics signed a software marketing agreement to commercialize Bionano’s VIA software.
  • In April 2024, Revvity agreed with Early Check to commence the study of genome sequencing.
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Samruddhi Yardi

Samruddhi Yardi

Samruddhi Yardi has done her MBA in Marketing, and after working in sales for 4+ years, she has shifted to the market research industry.

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