Brazil Diagnostic Imaging Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.60 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Brazil Diagnostic Imaging Equipment Market Analysis
The Brazilian diagnostic imaging equipment market was valued at approximately USD 997.69 million in 2021, and it is expected to witness a revenue of USD 1,450.64 million in 2027, with a CAGR of 5.64% over the forecast period.
The COVID-19 pandemic boosted the growth of the Brazilian diagnostic imaging equipment market. Among the majorly used COVID-19 screening options, diagnostic imaging is preferred by most healthcare professionals, as it provides a primary diagnosis in a short time, with accuracy. All the imaging modalities, including nuclear imaging, CT scan, and X-ray imaging, have been used exhaustively to study COVID-19 and its effect on varied demographic patients. Furthermore, the rising requirements for advanced lung imaging solutions are expected to boost the development of studies to evaluate lung deterioration due to the COVID-19 infection. Since the COVID-19 outbreak in Brazil in February 2020, the demand for chest CT scans has increased, which is majorly due to the long waiting period in obtaining RT-PCR test results in some regions, thereby affecting the results in the clinical management of patients. According to a research study titled 'Increasing Demand for Chest CT Due to COVID-19 in Brazil', in Scientific Electronic Library Online (SciELO), published in October 2020, the results demonstrated that in a sample size of 94 hospitals and diagnostic centers from 14 Brazilian states, an increase of 192% in demand for chest CT was observed from March 2020 to June 2020, when compared to the same period in 2019. Thus, given the factors mentioned above, the COVID-19 pandemic is expected to boost market growth.
The major factors augmenting the growth of the Brazilian diagnostic imaging market include the rise in the prevalence of chronic diseases, increased adoption of advanced technologies in medical imaging, and a rise in the geriatric population.
For instance, according to the estimates of the GLOBOCAN 2020, around 592,212 new cancer cases and 259,949 deaths due to cancers were reported in Brazil, and the five-year prevalence rate of cancers in Brazil was 1,563,761. Therefore, diagnostic imaging technologies are used extensively by doctors to examine and diagnose the exact medical conditions of patients. Also, as per the February 2020 research study titled 'Rheumatoid arthritis treatment in Brazil: data from a large real-life multicenter study,' in the sample size of 1,115 patients, 78.7% were rheumatoid factor positive, which resulted in rheumatoid arthritis (RA) being considered as a chronic health burden in the country.
Moreover, diagnostic imaging diagnoses the disease in its early stage and dramatically improves the patient's survival outcomes. The medical imaging industry has been revolutionized from bedside monitoring to high-end digital scanning. Therefore, all these factors are expected to drive the market's overall growth.
Brazil Diagnostic Imaging Equipment Market Trends
This section covers the major market trends shaping the Brazil Diagnostic Imaging Equipment Market according to our research experts:
X-ray is Expected to be Hold the Major Share in the Brazilian Diagnostic Imaging Equipment Market over the Forecast Period
X-ray imaging creates pictures of internal body parts. The images show the parts of the body in different shades of black and white, as different tissues absorb different amounts of radiation. The COVID-19 pandemic significantly contributed to the growth of X-ray devices in Brazil, as these devices play a crucial role in diagnosing COVID-19 through lung X-ray imaging and indicate the affected lung tissue in infected patients.
The development of new products related to X-ray devices is expected to contribute significantly to the market growth. The key players are focusing on adopting various growth strategies, such as new product launches, innovations in the existing products, and mergers and acquisitions, to introduce more efficient medical imaging devices and strengthen their market presence. For instance, in 2018, Agfa entered a partnership with VMI Technologies to start digital X-ray production in Brazil.
Moreover, according to a study titled, 'Estimating the productivity of radiologists in Brazil: the search for a benchmark'', published in April 2020, nearly 16% of the total radiologists stated that the main imaging method employed was an X-ray. This indicates that the rising diagnostic methods related to X-rays are rising in the country. Hence, overall, with the factors mentioned above, the market is expected to exhibit healthy growth in this segment.
Brazil Diagnostic Imaging Equipment Industry Overview
The Brazilian diagnostic imaging equipment market is consolidated owing to the presence of a few major players in the market. The market players are focusing on R&D to develop technologically advanced products to reduce the cost and side effects associated with the products. The barriers for the new entrants are high in this industry, and hence few major market players hold the maximum market share. The key players of the Brazilian diagnostic imaging equipment market comprise Canon Medical Systems Corporation, Carestream Health Inc., Esaote SpA, Fujifilm Holdings Corporation, GE Healthcare (GE Company), and Siemens Healthineers. The market players are involved in various strategic alliances, such as acquisitions and collaboration, to enhance the product portfolio globally. For instance, in May 2019, Canon Medical Systems Corporation launched the SOLTUS 500 Mobile Digital X-ray, which provides enhanced versatility and performance.
Brazil Diagnostic Imaging Equipment Market Leaders
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Canon Medical Systems Corporation
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Carestream Health Inc.
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FUJIFILM Holdings Corporation
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Esaote SpA
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GE Healthcare (GE Company)
*Disclaimer: Major Players sorted in no particular order
Brazil Diagnostic Imaging Equipment Market News
- In January 2021, VMI Médica, a Brazilian company, designed a novel X-ray that has the potential to diagnose the COVID-19 infection in patients.
- In November 2020, Siemens Healthineers launched MULTIX Impact C, a ceiling-mounted digital radiography (DR) system. The company also launched MULTIX Impact VA20, a new version of the established floor-mounted parent DR system.
Brazil Diagnostic Imaging Equipment Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Burden of Chronic Diseases
- 4.2.2 Increased Adoption of Advanced Technologies in Medical Imaging
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4.3 Market Restraints
- 4.3.1 Expensive Procedures and Equipment
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Modality
- 5.1.1 MRI
- 5.1.2 Computed Tomography
- 5.1.3 Ultrasound
- 5.1.4 X-ray
- 5.1.5 Nuclear Imaging
- 5.1.6 Fluoroscopy
- 5.1.7 Mammography
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5.2 By Application
- 5.2.1 Cardiology
- 5.2.2 Oncology
- 5.2.3 Neurology
- 5.2.4 Orthopedics
- 5.2.5 Other Applications
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5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Diagnostic Centers
- 5.3.3 Other End Users
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Canon Medical Systems Corporation
- 6.1.2 Carestream Health
- 6.1.3 Esaote SpA
- 6.1.4 Fujifilm Holdings Corporation
- 6.1.5 GE Healthcare (GE Company)
- 6.1.6 Koninklijke Philips NV
- 6.1.7 Siemens Healthineers
- 6.1.8 Shimadzu Corporation
- 6.1.9 Bayer AG
- 6.1.10 Hologic Inc.
- 6.1.11 Bracco Imaging SpA
- 6.1.12 Agfa-Gevaert
- 6.1.13 Shenzhen Mindray Bio-Medical Electronics Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityBrazil Diagnostic Imaging Equipment Industry Segmentation
As per the report's scope, the diagnostic imaging market covers a wide array of medical devices used for diagnostic purposes. It has a vast range of applications in various oncological, orthopedic, gastroenterology, and gynecological fields. The Brazilian diagnostic imaging equipment market is segmented by modality, application, and end user. By modality, the market is segmented into MRI, computed tomography, ultrasound, X-ray, nuclear imaging, fluoroscopy, and mammography. By application, the market is segmented into cardiology, oncology, neurology, orthopedics, and other applications. By end user, the market is segmented into hospitals, diagnostic centers, and other end users. The report offers the value (in USD million) for the above segments.
| By Modality | MRI |
| Computed Tomography | |
| Ultrasound | |
| X-ray | |
| Nuclear Imaging | |
| Fluoroscopy | |
| Mammography | |
| By Application | Cardiology |
| Oncology | |
| Neurology | |
| Orthopedics | |
| Other Applications | |
| By End User | Hospitals |
| Diagnostic Centers | |
| Other End Users |
Brazil Diagnostic Imaging Equipment Market Research FAQs
What is the current Brazil Diagnostic Imaging Equipment Market size?
The Brazil Diagnostic Imaging Equipment Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in Brazil Diagnostic Imaging Equipment Market?
Canon Medical Systems Corporation, Carestream Health Inc., FUJIFILM Holdings Corporation, Esaote SpA and GE Healthcare (GE Company) are the major companies operating in the Brazil Diagnostic Imaging Equipment Market.
What years does this Brazil Diagnostic Imaging Equipment Market cover?
The report covers the Brazil Diagnostic Imaging Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Brazil Diagnostic Imaging Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Brazil Diagnostic Imaging Equipment Industry Report
Statistics for the 2024 Brazil Diagnostic Imaging Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brazil Diagnostic Imaging Equipment analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
