South and Central America Medical Imaging Equipment Market
No. of Pages: 150 | Report Code: BMIPUB00031668 | Category: Life Sciences
No. of Pages: 150 | Report Code: BMIPUB00031668 | Category: Life Sciences
The South and Central America medical imaging equipment market size is expected to reach US$ 2,516.64 million by 2031 from US$ 1,977.87 million in 2024. The market is estimated to record a CAGR of 3.5% from 2025 to 2031.
South and Central America is a growing region in the global market for medical imaging equipment, registering consistent growth based on enhancing healthcare infrastructure, growing awareness of early diagnosis, and augmenting prevalence of chronic diseases. Use of imaging technologies like X-ray, ultrasound, and CT is on the rise as the public and private sectors spend money to upgrade diagnostic facilities in urban and semi-urban regions.
South and Central America Medical Imaging Equipment Market Segmentation Analysis:
Key segments that contributed to the derivation of the medical imaging equipment Market analysis are type and application.
South and Central America is a growing region in the global market for medical imaging equipment, registering consistent growth based on enhancing healthcare infrastructure, growing awareness of early diagnosis, and augmenting prevalence of chronic diseases. Use of imaging technologies like X-ray, ultrasound, and CT is on the rise as the public and private sectors spend money to upgrade diagnostic facilities in urban and semi-urban regions.
The demand for affordable and cost-efficient diagnostic equipment, and portable and digital imaging systems has been increased due to factors such as rising chronic diseases such as cancer, cardiovascular diseases and mental or neurological diseases. These diseases are promoting the use of medical imaging services. In spite of such setbacks as disparities in healthcare resource distribution and differing regulatory landscapes, the region offers a lot of growth potential as access to healthcare increases and imaging technology becomes more economically priced.
For instance, according to the data published by the Global Cancer Observatory (GCO), there were ~1,551,060 new cases of cancer in Latin America and the Caribbean in 2022. In addition, cancer resulted in 749,242 deaths in Latin America and the Caribbean in 2022.
Based on region, the South and Central America medical imaging equipment Market is further segmented into the Brazil, Argentina, Chile, Colombia, Peru and Rest of SACA. The Brazil held the largest share in 2024.
The medical imaging equipment market in Brazil is one of the largest in South America and is supported by public-sector initiatives and private sector expansions in health care. Ultrasound and X-ray are still the most common, but demand for CT and MR is driven by increasing prevalence of noncommunicable diseases and an aging population in urban environments. While there are still regional differences in access, public investment and collaboration with the private sector to address gaps in access are gaining momentum across the country.
For instance, in November 2024, AIRS Medical, a company focused on artificial intelligence for medical imaging partnered with IOSEI – one of the largest operational outsourcing companies for radiology services in Brazil – to expand access to its SwiftMR technology in Brazil. SwiftMR is an AI solution that is designed to improve the quality and efficiency of magnetic resonance imaging (MRI) for scan technicians. The intent of the partnership with IOSEI is to respond to a rising demand for MRI services in Brazil by using AI to improve and potentially shorten the time of scans and improve images, as well as change workflow with radiology departments. The AIRS Medical and IOSEI partnership represents a direction toward an integration of AI technologies to improve the accessibility and effectiveness of MRI diagnostics in Brazil.
South and Central 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 South and Central America Medical Imaging Equipment Market is valued at US$ 1,977.87 Million in 2024, it is projected to reach US$ 2,516.64 Million by 2031.
As per our report South and Central America Medical Imaging Equipment Market, the market size is valued at US$ 1,977.87 Million in 2024, projecting it to reach US$ 2,516.64 Million by 2031. This translates to a CAGR of approximately 3.5% during the forecast period.
The South and Central 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 South and Central America Medical Imaging Equipment Market report:
The South and Central 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 South and Central America Medical Imaging Equipment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Medical Imaging Equipment Market value chain can benefit from the information contained in a comprehensive market report.
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