Brazil Diagnostic Imaging Equipment Market Size (2024 - 2029)

The Brazilian diagnostic imaging equipment market is anticipated to experience significant growth, driven by the increasing prevalence of chronic diseases, the adoption of advanced medical imaging technologies, and a rising geriatric population. The COVID-19 pandemic has further accelerated this growth, as diagnostic imaging became a preferred method for rapid and accurate diagnosis, particularly for lung-related issues. The demand for imaging modalities such as CT scans has surged due to their effectiveness in managing COVID-19 cases, highlighting the critical role of diagnostic imaging in healthcare. These factors collectively contribute to the expansion of the market size in Brazil.

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Market Size of Brazil Diagnostic Imaging Equipment Industry

Brazil Diagnostic Imaging Equipment Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.60 %

Major Players

Brazil Diagnostic Imaging Equipment Market 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 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
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Brazil Diagnostic Imaging Equipment Market Size Summary

The Brazilian diagnostic imaging equipment market is poised for significant growth, driven by the increasing prevalence of chronic diseases, the adoption of advanced medical imaging technologies, and a growing geriatric population. The COVID-19 pandemic has notably accelerated market expansion, as diagnostic imaging became a preferred method for rapid and accurate COVID-19 diagnosis. This surge in demand was particularly evident in the use of chest CT scans, which were favored due to delays in RT-PCR test results. The pandemic highlighted the critical role of imaging modalities such as nuclear imaging, CT scans, and X-rays in understanding the virus's impact on diverse patient demographics. As a result, the market is expected to experience robust growth, supported by the rising need for advanced lung imaging solutions and the ongoing development of diagnostic technologies.

The market landscape is characterized by a few major players who dominate the sector, focusing on research and development to introduce technologically advanced products that minimize costs and side effects. These key players, including Canon Medical Systems Corporation, Carestream Health Inc., Esaote SpA, Fujifilm Holdings Corporation, GE Healthcare, and Siemens Healthineers, are actively engaged in strategic alliances, such as mergers and acquisitions, to enhance their global product portfolios. The introduction of innovative products, like the SOLTUS 500 Mobile Digital X-ray and the MULTIX Impact series, underscores the industry's commitment to advancing diagnostic capabilities. Despite high entry barriers for new entrants, the market's consolidation and the continuous evolution of imaging technologies are expected to sustain its healthy growth trajectory.

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Brazil Diagnostic Imaging Equipment Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Burden of Chronic Diseases

      2. 1.2.2 Increased Adoption of Advanced Technologies in Medical Imaging

    3. 1.3 Market Restraints

      1. 1.3.1 Expensive Procedures and Equipment

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Modality

      1. 2.1.1 MRI

      2. 2.1.2 Computed Tomography

      3. 2.1.3 Ultrasound

      4. 2.1.4 X-ray

      5. 2.1.5 Nuclear Imaging

      6. 2.1.6 Fluoroscopy

      7. 2.1.7 Mammography

    2. 2.2 By Application

      1. 2.2.1 Cardiology

      2. 2.2.2 Oncology

      3. 2.2.3 Neurology

      4. 2.2.4 Orthopedics

      5. 2.2.5 Other Applications

    3. 2.3 By End User

      1. 2.3.1 Hospitals

      2. 2.3.2 Diagnostic Centers

      3. 2.3.3 Other End Users

Brazil Diagnostic Imaging Equipment Market Size FAQs

The Brazil Diagnostic Imaging Equipment Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)

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.

Brazil Diagnostic Imaging Equipment Market Report Snapshots

Brazil Diagnostic Imaging Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)