South and Central America Medical Imaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (CT Systems, X-ray Systems, PET Systems, MRI systems, Ultrasound Systems, and Others); End User (Hospitals, OP Centers, Clinicians Offices, and Emergency Care Centers)
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.
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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.
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- Obtain market revenue forecast for market by various segments from 2021-2028 in South and Central America region.
SOUTH AND CENTRAL AMERICA MEDICAL IMAGING MARKET SEGMENTATION
By Product
- CT Systems
- X-ray Systems
- PET Systems
- MRI systems
- Ultrasound Systems
- Others
By End User
- Hospitals
- OP Centres
- Clinicians Offices
- Emergency Care Centres
By Country
- South and Central America
- Brazil
- Argentina
- Rest of South and Central America
Companies Mentioned
- General Electric Company
- Siemens AG
- Koninklijke Philips N.V.
- Shimadzu Corporation
- Hitachi, Ltd.
- Canon Inc.
- Hologic, Inc.
- Carestream Health Inc.
- ESAOTE SPA
- Samsung Group
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Medical Imaging Market – By Product
1.3.2 Medical Imaging Market – By End User
1.3.3 South and Central America Medical Imaging Market – By Country
2. South and Central America Medical Imaging Market Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South and Central America Medical Imaging Market Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Medical Imaging Market- South and Central America PEST Analysis
4.3 Expert Opinion
5. South and Central America Medical Imaging Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Introduction of Technologically Advanced Systems
5.1.2 Increasing Demand for Early Diagnosis
5.2 Market Restraints
5.2.1 Declining Reimbursements
5.3 Market Opportunities
5.3.1 Big Data and Analytics
5.4 Future Trends
5.4.1 3D Capabilities
5.5 Impact Analysis
6. Medical Imaging Market – South and Central America Analysis
6.1 South and Central America Medical Imaging Market Revenue Forecasts and Analysis
7. South and Central America Medical Imaging Market Analysis and Forecasts To 2028 – By Product
7.1 Overview
7.2 Medical Imaging Market Revenue Share, by Product 2020 and 2028)
7.3 CT Systems
7.3.1 Overview
7.3.2 CT Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
7.4 X-Ray Systems
7.4.1 Overview
7.4.2 X-Ray Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
7.5 MRI Systems
7.5.1 Overview
7.5.2 MRI Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
7.6 PET Systems
7.6.1 Overview
7.6.2 PET Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
7.7 Ultrasound Systems
7.7.1 Overview
7.7.2 Ultrasound Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
8. Medical Imaging Market Analysis – By End User
8.1 Overview
8.2 Medical Imaging Market, by End User, 2020 and 2028 (%)
8.3 Hospitals
8.3.1 Overview
8.3.2 Hospitals: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
8.4 OP Centers
8.4.1 Overview
8.4.2 OP Centers: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Clinician’s Office
8.5.1 Overview
8.5.2 Clinician’s Office: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Emergency Care Centers
8.6.1 Overview
8.6.2 Emergency Care Centers: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
9. Medical Imaging Market Revenue and Forecasts to 2028 – Geographical Analysis
9.1 South and Central America: Medical Imaging Market
9.1.1 Overview
9.1.2 South and Central America: Medical Imaging Market, by Country, 2020 & 2028 (%)
9.1.2.1 Brazil: Medical Imaging Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.1.1 Brazil: Medical Imaging Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.1.2 Brazil: Medical Imaging Market, by Product, 2019–2028 (USD Million)
9.1.2.1.3 Brazil: Medical Imaging Market, End User, 2019–2028 (USD Million)
9.1.2.2 Argentina: Medical Imaging Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.2.1 Argentina: Medical Imaging Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.2.2 Argentina: Medical Imaging Market, by Product, 2019–2028 (USD Million)
9.1.2.2.3 Argentina: Medical Imaging Market, End User, 2019–2028 (USD Million)
9.1.2.3 Rest of South and Central America: Medical Imaging Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.3.1 Rest of South and Central America: Medical Imaging Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.3.2 Rest of South and Central America: Medical Imaging Market, by Product, 2019–2028 (USD Million)
9.1.2.3.3 Rest of South and Central America: Medical Imaging Market, End User, 2019–2028 (USD Million)
10. Impact Of COVID-19 Pandemic on South and Central America Medical Imaging Market
10.1 South and Central America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 General Electric Company
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Siemens AG
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Koninklijke Philips N.V.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 SHIMADZU CORPORATION
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Hitachi, Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Canon Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Hologic, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Carestream Health Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 ESAOTE SPA
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Samsung Group
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Brazil: Medical Imaging Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 2. Brazil: Medical Imaging Market, End User – Revenue and Forecast to 2028 (USD Million)
Table 3. Argentina: Medical Imaging Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 4. Argentina: Medical Imaging Market, End User – Revenue and Forecast to 2028 (USD Million)
Table 5. Rest of South and Central America: Medical Imaging Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 6. Rest of South and Central America: Medical Imaging Market, End User – Revenue and Forecast to 2028 (USD Million)
Table 7. Organic Developments Done By Companies
Table 8. Inorganic Developments Done by Companies
Table 9. Glossary of Terms, Medical imaging Market
LIST OF FIGURES
Figure 1. Medical Imaging Market Segmentation
Figure 2. South and Central America Medical Imaging Market Overview
Figure 3. X-ray Systems Segment Held Largest Share Of Product In Medical Imaging Market
Figure 4. Brazil is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. Medical Imaging Market - South and Central America PEST Analysis
Figure 6. Medical Imaging Market Impact Analysis of Driver and Restraints
Figure 7. South and Central America Medical Imaging Market – Revenue Forecasts and Analysis – 2020- 2028
Figure 8. Medical Imaging Market Revenue Share, by Product (2020 and 2028)
Figure 9. CT Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 10. X-Ray Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 11. MRI Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 12. PET Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 13. Ultrasound Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 14. Others: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 15. Medical Imaging Market, by End User, 2020 and 2028 (%)
Figure 16. Hospitals: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. OP Centers: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Clinician’s Office: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Emergency Care Centers: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. South and Central America: Medical Imaging Market, by Key Country – Revenue (2020) (USD Million)
Figure 21. South and Central America: Medical Imaging Market, by Country, 2020 & 2028 (%)
Figure 22. Brazil: Medical Imaging Market – Revenue and Forecast to 2028 (USD Million)
Figure 23. Argentina: Medical Imaging Market – Revenue and Forecast to 2028 (USD Million)
Figure 24. Rest of South and Central America: Medical Imaging Market – Revenue and Forecast to 2028 (USD Million)
Figure 25. Impact of COVID-19 Pandemic in South and Central America Country Markets
Figure 26. Growth Strategies Done by the Companies in the Market, (%)
- General Electric Company
- Siemens AG
- Koninklijke Philips N.V.
- Shimadzu Corporation
- Hitachi, Ltd.
- Canon Inc.
- Hologic, Inc.
- Carestream Health Inc.
- ESAOTE SPA
- Samsung Group
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South and Central America medical imaging market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the South and Central America medical imaging market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth South and Central America market trends and outlook coupled with the factors driving the medical imaging market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution