Brazil Diagnostic Imaging Market

SKU: DMMD59 | Last Updated On: Sep 24 2022 | Available Formats

> Brazil Diagnostic Imaging Market Expected to reach a high CAGR of 5.75% during the forecast period 2022-2029:

Brazil Diagnostic Imaging Market is segmented By Type (X-Ray, MRI, Nuclear Medicine, Ultrasound, Tomography, Photoacoustic Imaging, Thermography, Echocardiography, Elastography, Functional near Infrared Spectroscopy), By Application (Orthopedic, Neurology, Oncology, Cardiology, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Brazil Diagnostic Imaging Market size is expected to reach USD million by 2029, with growth at a CAGR of 5.75% during the forecast period (2022-2029).

Diagnostic imaging is a medical technique of non-invasive imaging tests for diagnosing and monitoring diseases or injuries by getting visual images of internal structures and organs of the patient's body. Diagnostic imaging technologies are used extensively by doctors to examine and diagnose the exact medical conditions of patients. In Brazil, cancer is the second most common cause of death, after cardiac and cerebrovascular diseases. Oncology accounts for more than 30% of the market and is expected to grow at a CAGR of 8.91% throughout the forecast. According to WHO, in 2014, there were approximately 395,000 new cancer cases in Brazil, 205,000 in men, and 190,000 in women. The most incident types of cancer are prostate, lung, colon, and rectum, to diagnose these cancers, various diagnostic imaging tests are carried out in laboratories or hospitals.

Diagnostic imaging helps identify cardiac abnormalities, broken bones, aneurysms, gastrointestinal issues, and various types of cancer. Diagnostic imaging is also used to monitor how the patient’s body responds to the treatment being given. Diagnostic imaging diagnoses disease in its early stage, and greatly improves patient survival outcomes. It is a painless technique and offers a rapid diagnosis. The medical imaging industry has been revolutionized from bedside monitoring to high-end digital scanning.

According to the World Health Organization (WHO), in Brazil, around 72% of all deaths every year are due to chronic diseases. According to a study published in The Lancet, Brazil is burdened with chronic non-communicable diseases, neuropsychiatric disorders are the single largest contributor to the chronic disease burden in Brazil, with an estimated 10 to 20% of people having had depression at some stage.

Brazil Diagnostic Imaging Market Growth Drivers

The major drivers fueling the growth of the Brazil Diagnostic Imaging Market are the growing geriatric population, increasing prevalence of chronic diseases, technological advancement, and an increase in funds and grants by government bodies.

There is a dramatic rise in the elderly population in Brazil, according to WHO, in 1920, life expectancy was only 35.2 years in Brazil, and the elderly accounted for just 4% of the total population of the country. In 2016, about 8.25 percent of Brazil's total population was aged 65 or more than that.

Health care in Brazil is funded by the Brazilian Government. The Ministry of Health (Ministério da Saúde) is responsible for public health services, government hospitals, and medical services. Around 70% of Brazilian residents use public hospitals, while the rest opt for private hospital visits, which they either pay for themselves or which are covered by private medical insurance. In 2009, the Union, states, and municipalities allocated around $ 39 billion to SUS (Brazil’s publicly funded healthcare system), while the private network contributed approximately $ 45 billion.

Brazil Diagnostic Imaging Market Scope:

Metrics

Details

Market CAGR

5.75%

Segments Covered

By Type, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region globally

Asia Pacific

Largest Market Share 

North America

Brazil Diagnostic Imaging Market Restraints

The shortage of trained radiologists and the high cost of the diagnostic imaging system is going to restrain the market in the forecast period.

According to the World Bank, in 2014, there were about 9,700 board-certified radiologists in Brazil, which is inadequate for a country with 206 million inhabitants and an aging population.

Brazil Diagnostic Imaging Market Segmentation Analysis

The global diagnostic imaging market can be segmented by type as X-Ray, MRI, Nuclear Medicine, Ultrasound, Tomography, Photoacoustic Imaging, Thermography, Echocardiography, Elastography, and Functional Near-Infrared Spectroscopy. X-Ray is further segmented based on portability as Mobile, Handheld, and Stationary and by technology as Analog Imaging and Digital Imaging and by application as Mammography, Dental, and General Radiography.

MRI is further segmented based on the structure as Closed MRI, Open MRI, and Standing MRI and by resolution as Low-Field MRI Scanners, High-Field MRI Scanners, and Mid-Field MRI Scanners. Nuclear medicine is further segmented as Scintigraphy, PET Imaging, and SPECT Imaging. Ultrasound is further segmented as 2D Ultrasound, 3D Ultrasound, 4D Ultrasound, and Doppler Imaging. Tomography is further segmented as High-End Slice CT scanners, Mid-End Slice CT Scanners, Low-End Slice CT Scanners, and Tectile Imaging. The market is segmented based on applications as Orthopedic, Neurology, Oncology, Cardiology, and Others.

An X-ray is a noninvasive medical test that helps physicians diagnose and treat medical conditions. The X-ray segment holds the most significant share of the diagnostic imaging market of more than 20% owing to the versatility of the system and convenience in use. Technological advancement and increasing incidents of chronic disease are the prime factors boosting the growth of this segment. According to the Brazilian Association of Innovation in Healthcare, in 2017, Brazilian hospitals increased their X-ray machines count up to 12%.

Brazil Diagnostic Imaging Market Competitive Analysis

Some of the major key players in the market are GE Healthcare, Bayer HealthCare AG, Hologic Inc., Toshiba Medical Systems Corporation, Shimadzu Corporation, Siemens Limited, Philips Healthcare, Bracco Imaging SpA, and Fujifilm Holdings Corporation.

The Diagnostic Imaging market is a concentrated market with the dominance of five major companies. The vendors are increasingly focusing on implementing inorganic growth strategies to expand their presence in the market. The market is competitive with the presence of big well-established firms and several new and small firms that have similar product offerings. Intense competition among the companies has resulted in an increase in price wars among the companies. 

Recent Developments in the Industry:

  1. In Mar 2018, at the American College of Cardiology’s (ACC) 67th Annual Scientific Session, Siemens Healthineers launched its new portable cardiovascular ultrasound solution, the Acuson Bonsai. 
  2. In Nov 2017, Fujifilm introduced a new FDR Go PLUS version Portable Digital Radiography System and announced installations of the FDR AQRO mini mobile digital radiography solution.

Frequently Asked Questions

What is the Projected CAGR value of the Brazil Diagnostic Imaging Market?

Brazil Diagnostic Imaging Market is expected to grow at a CAGR of 5.75% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Brazil Diagnostic Imaging Market during 2022-2029

Which is the fastest growing region in the Brazil Diagnostic Imaging Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

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