Latin America Medical Imaging Equipment Market
No. of Pages: 150 | Report Code: BMIPUB00031663 | Category: Life Sciences
No. of Pages: 150 | Report Code: BMIPUB00031663 | Category: Life Sciences
The Latin America medical imaging equipment market size is expected to reach US$ 3,404.4 million by 2031 from US$ 2,593.4 million in 2024. The market is estimated to record a CAGR of 4.0% from 2025 to 2031.
The medical imaging equipment market in Latin America is showing consistent growth, supported by increasing chronic disease rates, urbanization, and expanding healthcare access. The largest economies—Brazil, Mexico, Argentina, Colombia, Chile, and Peru—are at the forefront of the region, with significant involvement from the private sector and continued investment into diagnostic infrastructure.
Latin America Medical Imaging Equipment Market Segmentation Analysis:
Key segments that contributed to the derivation of the medical imaging equipment market analysis are product type, application, and end user.
The medical imaging equipment market in Latin America is showing consistent growth, supported by increasing chronic disease rates, urbanization, and expanding healthcare access. The largest economies—Brazil, Mexico, Argentina, Colombia, Chile, and Peru—are at the forefront of the region, with significant involvement from the private sector and continued investment into diagnostic infrastructure.
There is increasing demand for modalities such as ultrasound, digital X-ray, CT, and MRI, particularly in urban areas and by private sector clinics. Brazil and Mexico lead equipment adoption and progress in integrating and applying digital health initiatives into regular services. Countries like Chile and Colombia are extending their outpatient imaging services to match evolving expectations from their patients.
The medical imaging equipment market is being strengthened by gradual improvements in public access to healthcare, often supported by support from international agencies, such as the Pan American Health Organization (PAHO), and the World Bank. The rising burden of chronic illnesses and trauma is contributing to increased demand for diagnostic services in urban and semi-urban areas. Private diagnostic center and clinic chains are expanding in the growing middle-income markets (such as Uruguay), which is also allowing the introduction of more sophisticated imaging modalities like CT and MRI. Demand for equipment is expected to strengthen based on an improving public health infrastructure, increasing levels of awareness around the benefits of early diagnosis and preventive health care practices.
Challenges like a lack of public funding, dependence on foreign equipment, delays in regulation, and a lack of radiology experts continue to exist. Rural access is still an issue, although mobile units, portable machines, and teleradiology are filling gaps. Overall, Latin America is a mixed but encouraging market with opportunities for growth linked to modernization of health systems, private investment, and digital and Al-enabled imaging technology adoption.
Based on country, the Latin America medical imaging equipment market is further segmented into the Brazil, Mexico, Argentina, Colombia, Chile, and Peru. The Mexico held the largest share in 2024.
The medical imaging equipment market in Mexico is growing steadily is driven by an increase in healthcare awareness, more public health coverage, and population growth in cities. While X-ray and ultrasound, the basic modalities, are the primary imaging modalities utilized in public hospitals, the private health sector is leading for adoption of CT and MRI technologies. However, varying infrastructure across urban and rural areas represents a policy challenge to universal health access. Nonetheless, national health reform and investment in diagnostic services is expected to spark develop and growth of the medical imaging equipment sector. The medical imaging equipment market landscape in Mexico shows a general moving toward advanced diagnostic modalities.
For example, in July 2024, United Imaging, a global provider of medical imaging and radiotherapy solutions, reported the installation of its first Positron Emission Tomography/Computed Tomography (PET/CT)) system in Mexico at the National Institute of Pediatrics. This adoption of advanced PET/CT technology in a specialized center suggests a shift in the Mexican healthcare system toward diagnostic precision and access to the forefront of imaging modalities for a diversity of patient populations.
Latin America Medical Imaging Equipment Market Company Profiles
GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, CANON MEDICAL SYSTEMS CORPORATION, Koninklijke Philips N.V., and Shimadzu Corporation 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.
The following methodology has been followed for the collection and analysis of data presented in this report:
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:
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.
The Insight Partners 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:
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:
The Latin America Medical Imaging Equipment Market is valued at US$ 2,593.4 Million in 2024, it is projected to reach US$ 3,404.4 Million by 2031.
As per our report Latin America Medical Imaging Equipment Market, the market size is valued at US$ 2,593.4 Million in 2024, projecting it to reach US$ 3,404.4 Million by 2031. This translates to a CAGR of approximately 4.0% during the forecast period.
The Latin America Medical Imaging Equipment 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 Latin America Medical Imaging Equipment Market report:
The Latin America Medical Imaging Equipment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Latin America Medical Imaging Equipment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Latin America Medical Imaging Equipment Market value chain can benefit from the information contained in a comprehensive market report.
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