Market Introduction
Medical imaging refers to techniques and processes used to create images of various parts of the human body for diagnostic and treatment purposes within digital health. The term, medical imaging, includes various radiological imaging techniques such as: X-ray radiography, Fluoroscopy, Magnetic resonance imaging (MRI), Medical ultrasonography or ultrasound, Endoscopy, Elastography, Tactile imaging, Thermography, Medical photography and nuclear medicine functional imaging techniques e.g., positron emission tomography (PET). Medical imaging is crucial in every medical setting and at all levels of healthcare.
Thus, the increasing demand for early diagnosis are expected to create a significant demand for medical imaging in the coming years, which is further anticipated to drive the medical imaging market.
Countries like Brazil and Argentina have also registered many positive coronavirus infection cases. These regions are developing in terms of the healthcare and medical service industry. The countries in these regions are highly dependent on medical devices imported from developed countries. Therefore, countries have faced several challenges with their requirements for medical imaging systems due to severe disruption in supply chains. Health authorities are worrying that attempting to fight the coronavirus will indirectly contribute to an increase in deaths of ill patients, including cancer patients, gynecology patients, and other causes. The death pool of ill patients in low-cost regions is expected to increase because healthcare professionals are having limited their patients checking as many clinics as possible, diagnostic centers, ambulatory surgery centers have limited resources and staff. However, there has been a spur in demand for imaging modalities such as computed tomography and ultrasound systems to manage the treatment of patients suffering with COVID-19. Countries were severely hit by the pandemic and deployed large number of chests imaging every single day. These factors thus encouraged the growth of the medical imaging market in this region.
Market Overview and Dynamics
The Medical imaging market in South and Central America is expected to grow from US$ 1,065.0 million in 2021 to US$ 1,316.8 million by 2028; it is estimated to grow at a CAGR of 3.1% from 2021 to 2028. Diagnostic testing is an integral part of the healthcare system, providing essential information to enable providers and patients to make the right clinical decisions. Indeed, around 75% of clinical decisions are based on a diagnostic test. Demand for access to quicker and accurate diagnosis is rising at a rate of 10% per year, increasing the cost and putting pressure on the capacity and capability of diagnostic providers. From the patient point of view, early detection and diagnosis can prevent unnecessary pain and suffering. It can also reduce the scale and cost of treatment. A large body of research links early diagnosis to measurable health gains, such as improved survival rates and lower treatment costs. Further, government awareness will further propel the market growth.
Key Market Segments
In terms of product, the X-ray systems segment accounted for the largest share of the South and Central America medical imaging market in 2020. In terms of end user, the hospitals segment accounted for the largest share of the South and Central America medical imaging market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the medical imaging market in South and Central America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are General Electric Company, Siemens AG, Koninklijke Philips N.V., Shimadzu Corporation, Hitachi, Ltd., Canon Inc., Hologic, Inc., Carestream Health Inc., ESAOTE SPA, and Samsung Group.
Reasons to buy report
SOUTH AND CENTRAL AMERICA MEDICAL IMAGING MARKET SEGMENTATION
By Product
By End User
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,065.0 Million |
| Market Size by 2028 | US$ 1,316.8 Million |
| CAGR (2021 - 2028) | 3.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South and Central America Medical Imaging Market is valued at US$ 1,065.0 Million in 2021, it is projected to reach US$ 1,316.8 Million by 2028.
As per our report South and Central America Medical Imaging Market, the market size is valued at US$ 1,065.0 Million in 2021, projecting it to reach US$ 1,316.8 Million by 2028. This translates to a CAGR of approximately 3.1% during the forecast period.
The South and Central America Medical Imaging Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South and Central America Medical Imaging Market report:
The South and Central America Medical Imaging Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South and Central America Medical Imaging Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Medical Imaging Market value chain can benefit from the information contained in a comprehensive market report.
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