Brazil Diagnostic Imaging Market

SKU: DMMD59 | Last Updated On: Jan 20 2023 | Available Formats

> Brazil Diagnostic Imaging Market Expected to reach a high CAGR of 5.75% during the forecast period 2023-2030:

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, 2023-2030.

Brazil Diagnostic Imaging Market size is expected to reach USD million by 2030, with growth at a CAGR of 5.75% during the forecast period (2023-2030). 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. Diagnostic imaging also monitors 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. 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 increasing funds and grants by government bodies.

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

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Market Dynamics:

Increase in Cancer patient’s population in Brazil drives market growth.

In Brazil, cancer is the second most common cause of death after cardiac and cerebrovascular diseases. According to a World Health Organization report published in 2020, there were approximately 5,92,212 new cancer cases in Brazil, 300,114 in men and 292,098 in women. The most incident types of cancer are prostate, lung, colon, and rectum. Various diagnostic imaging tests are carried out in laboratories or hospitals to diagnose these cancers. Diagnostic imaging is very important to the detection and primary treatment of cancer patients, owing to the growth in the diagnostic imaging market.

Moreover, technological advancement and increasing incidents of chronic disease are the prime factors boosting the growth of the diagnostic imaging market. The emerging AI-based digital X-ray systems are also expected to provide a wide range of growth opportunities for players over the forecast period. Artificial Intelligence has many applications in managing patient information related to diagnosis and treatment of patients. Artificial Intelligence helps physicians to incorporate the information into meaningful disease diagnosis and patient care. AI not only diagnose patients without doctors but also augment doctors' abilities and find and collate relevant data for patient care. In March 2021, Researchers found a new technique diagnostic tool for detecting Covid 19 in which X-rays combine with Artificial Intelligence.

However, the shortage of trained radiologists and the high cost of the diagnostic imaging system hamper the market in the forecast period.

Market Segmentation:

X-ray segment is projected to be the dominant segment in the market during the forecast period.

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 a quick, painless test that produces images of structure inside the body. X-ray beams pass through the body and are absorbed in different amounts depending upon the material's density. 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 at more than 20%, owing to the versatility of the system and its convenience in use. Technological advancement and increasing incidents of chronic disease are the prime factors boosting the growth of this segment. The Brazil X-ray market growth is driven by several factors, such as the increasing geriatric population and the subsequent growth in orthopedic diseases and cancer incidence, favorable government initiatives & investments, the advantages of digital X-ray systems over conventional X-rays, and technological advancements and product development.

Geographical Penetration:

The Brazil is the dominating region during the forecast period.

The Brazil X-ray market is estimated to grow at the fastest CAGR during the forecast period. The presence of major key players in south Brazil helps grow the X-ray market. Southern Brazil includes Espírito Santo, Minas Gerais, Rio de Janeiro, and São Paulo. It is the country's richest region, responsible for approximately 60% of the Brazilian GDP, like Sao Paulo, Rio de Janeiro, and Minas Gerais are the three richest states of Brazil, the top three Brazilian states in terms of GDP. In Brazil, breast cancer represents almost 30 percent of all types of cancer, with approximately 40 percent of patients only diagnosed in the advanced stages. Screening is widely used to detect cancers early when they can treat effectively. In February 2022, Ikea charts Amazon waters, boosting access to life-saving cancer screening. Women living in Amazon river communities now have increased access to breast cancer screening along even its most remote banks due to the installation of two mammography units on Brazil Ship navy. Each ship can perform thousands of screening tests per year.

Competitive Landscape:

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 with similar product offerings. Intense competition among the companies has resulted in an increase in price wars among the companies. In August 2021, GE Healthcare launched the next-gen Definium 656 HD X-ray system. Definium 656 HD X-ray system is available with high-quality detectors, advance applications and Artificial intelligence-driven imaging processing. It has features like five-axis motorization and auto-positioning to speed up the positioning process and automated in-room workflows with a 12″ touchscreen on the tube head console and AutoRad software for manual or automatic workflow control. In July 2022, GE Healthcare launched next-generation ultrasound system named The Voluson Expert 22 for pregnant women. This imaging system operates with better consistency in exams and a decreased number of tasks for the clinician. In July 2022, Subtle Medical, a key provider of artificial intelligence (AI) solutions for medical imaging, and Siemens Healthineers, a leading medical technology company, launched Subtle Medical's SubtleMR image-enhancement software into the new reconstruction pipeline of Siemens Healthineers. SubtleMR offers DL (deep learning) post-processing for denoising and increased sharpness on faster MRI sequences, enabling improved image quality, optimized workflow, and a better patient experience.

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