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Medical Imaging in Latin America: Market Size, Share & Emerging Opportunities

The Latin America Medical Imaging market size is anticipated to reach USD 3.84 billion by 2030, registering a CAGR of 4.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing incidences of chronic diseases and advancements in imaging technology are significant factors contributing to market growth. According to the datasheet from the PRB, created as part of the IDEA project, cardiovascular disease, diabetes, most cancers, and chronic respiratory diseases are estimated to account for about 81% of deaths in Latin America and the Caribbean by 2030. The growing aging population in Latin America is another key factor driving the demand for medical imaging procedures. As people age, they become more susceptible to chronic diseases, increasing the need for medical imaging services.

Furthermore, increasing healthcare expenditure and government projects for infrastructure development are leading to increased availability and accessibility of medical imaging services in the region, thereby supporting market growth. Brazil dominated the overall market owing to factors, such as high healthcare infrastructure and rapid technological advancement. The market in Mexico is expected to witness the fastest CAGR from 2024 to 2030. Key industry players undertake various strategies to strengthen their market position. For instance, in January 2024, GE HealthCare acquired MIM Software. The company aims to utilize MIM Software's digital workflow capabilities and imaging analytics in diverse care areas to expedite innovation and distinguish its solutions for the global benefit of patients and healthcare systems

Request a free sample copy or view report summary: Latin America Medical Imaging Market Report

Latin America Medical Imaging Market Report Highlights

  • Based on product, the ultrasound segment dominated the market with a share of 32.4% in 2023 due to technological advancements, cost considerations, its applications in point-of-care, and the integration of AI
  • The technology computed tomography segment is expected to grow at the fastest CAGR from 2024 to 2030. Healthcare providers in Latin America are adopting advanced CT systems to enhance patient care and outcomes, driving growth in the sector
  • The hospitals end-use segment dominated the market with a share of 42.4% in 2023 due to the high demand for advanced imaging modalities and the integration of surgical suits with imaging technologies
  • The diagnostic imaging centers end-use segment is anticipated to witness the fastest CAGR from 2024 to 2030. Diagnostic imaging centers offer cost-effective and efficient diagnostic solutions compared to traditional hospital-based imaging services

Latin America Medical Imaging Market Segmentation

Grand View Research has segmented the Latin America medical imaging market on the basis of product, end-use, and region:

Latin America Medical Imaging Product Outlook (Revenue, USD Million, 2018 - 2030)

  • X-ray
  • Magnetic Resonance Imaging
  • Ultrasound
  • Computed Tomography
  • Nuclear Imaging

Latin America Medical Imaging End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals
  • Diagnostic Imaging Centers
  • Others

Latin America Medical Imaging Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Contact:
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll-Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: grandviewresearch.com

#MedicalImaging #HealthcareMarket #MedicalTech #HealthcareIndustry #LatAmHealthcare #MedicalDevices #HealthTech #LatinAmericaMarket

 

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