Latin America Ultrasound Market Outlook (2021-2031)

The Latin America ultrasound market size is expected to reach US$ 344.4 million by 2031 from US$ 269.0 million in 2024. The market is estimated to record a CAGR of 3.6% from 2025 to 2031.

Executive Summary and Latin America Ultrasound Market Analysis:

The Latin American ultrasound market is experiencing robust expansion, driven by a growing middle class population, rising healthcare spending, and a shift toward non-invasive diagnostic procedures. The region, encompassing diverse economies like Mexico, Brazil, Argentina, and Colombia, is a key market for both high-end and cost-effective ultrasound systems. Mexico stands out as the dominant market leader, a position cemented by its advanced healthcare infrastructure and significant public and private investments.

Market growth is also fueled by the increasing prevalence of chronic diseases, a growing aging population, and a greater emphasis on early detection and preventative care. International manufacturers, alongside a rising number of regional players, are actively introducing a range of products, from sophisticated cart-based systems for major hospitals to portable, handheld devices for a wider array of clinical settings.

Latin America Ultrasound Market Strategic Insights

Latin America Ultrasound Market Segmentation Analysis

Key segments that contributed to the derivation of the ultrasound market analysis are product type, portability, application, and end user.

• By product type, the ultrasound market is segmented into diagnostic ultrasound systems and therapeutic ultrasound systems. The diagnostic ultrasound systems segment dominated the market in 2024.
• By portability, the ultrasound market is segmented into portable/trolley-based devices and handheld devices. The portable/trolley-based devices segment dominated the market in 2024.
• By application, the ultrasound market is segmented into general imaging, cardiology, oncology, gynecology, orthopedics, urology, gastroenterology, and other. The general imaging segment dominated the market in 2024.
• By end user, the market is segmented into hospitals, specialty clinics, diagnostics imaging centers, ambulatory surgical centers, and others. The hospitals segment held the largest share of the market in 2024.

Latin America Ultrasound Market Outlook

The ultrasound landscape in Latin America is evolving rapidly, with several critical trends impacting its future. One primary factor contributing to growth is the accessibility of proper healthcare, mainly in rural locations. This has translated to increased demand for mobile and point-of-care ultrasound (POCUS) devices. These compact systems enable health workers to make quick and precise diagnoses in clinics, as well as in remote locations.

Additionally, the market is experiencing a more targeted approach to niche uses such as cardiovascular and obstetrics imaging, which are more advanced and require advanced technologies like 3D/4D and Doppler capabilities. Increased adoption of digital health and telemedicine platforms is creating more opportunities for connected ultrasound systems that enable remote consultations and data sharing, which improves the overall efficiency of the connected healthcare system.

Latin America Ultrasound Market Country Insights

Based on country, the Latin America ultrasound market is further segmented into Brazil, Mexico, Argentina, Colombia, Chile, and Peru. Mexico held the largest share in 2024.

Mexico is leading the ultrasound market in Latin America, fostering a developed healthcare system. A major growth factor is growing medical tourism industry that has increased the demand for advanced diagnostic imaging equipment. The healthcare system includes both public and private providers, with the private sector driving much of the demand for high-end ultrasound technology. Rising cases of lifestyle-related illnesses like heart disease and diabetes have also led to more frequent diagnostic procedures. Government programs aimed at improving public health and expanding access to medical technology are helping the market grow steadily. In addition, Mexico hosts global medical device manufacturers and has a reliable distribution network, further strengthening its position as a regional leader in ultrasound imaging.

Latin America Ultrasound Market Report Highlights

Latin America Ultrasound Market Company Profiles

GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Canon Inc., Koninklijke Philips N.V., Esaote SPA, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Hologic Inc., Trivitron Healthcare and Samsung Healthcare are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive in the market and offer innovative products to their consumers.

Latin America Ultrasound Market Research Methodology:

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations
• Industry trade journals and other relevant publications
• Government documents, statistical databases, and market reports
• News articles, press releases, and webcasts specific to companies operating in the market

Note: All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.

• Primary Research

Business Market Insights conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:

• Refine findings from secondary research
• Enhance the expertise and market understanding of the analysis team
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects

Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Latin America Ultrasound Market Country and Regional Insights

Latin America Ultrasound Key Sources Referred:

• The World Bank World Development Indicators
• World Health Organization (WHO)
• Center for Disease Control and Prevention (CDC)
• International Society of Ultrasound in Obstetrics and Gynecology (ISUOG)
• Radiological Society of North America (RSNA)
• American Institute of Ultrasound in Medicine (AIUM)
• National Institutes of Health (NIH)
• Global Cancer Observatory
• Company website
• Company annual reports
• Company investor presentations