Latin America Medical Imaging Market Size & Outlook
Latin America medical imaging market, 2018-2030 (US$M)
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Latin America medical imaging market highlights
- The Latin America medical imaging market generated a revenue of USD 2,791.1 million in 2023.
- The market is expected to grow at a CAGR of 4.7% from 2024 to 2030.
- In terms of segment, ultrasound was the largest revenue generating technology in 2023.
- Magnetic Resonance Imaging is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 2,791.1 million |
| Market revenue in 2030 | USD 3,839.4 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Ultrasound |
| Fastest growing segment | Magnetic Resonance Imaging |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | X-ray, Magnetic Resonance Imaging, Ultrasound, Computed Tomography, Nuclear Imaging |
| Key market players worldwide | GE Aerospace, Koninklijke Philips NV, Siemens Healthineers AG ADR, Canon Inc, Mindray Medical International, FUJIFILM Holdings Corp, Carestream Health - HCIS business, Hitachi Ltd, Samsung Electronics Co Ltd, Koning, PerkinElmer, Konica Minolta Inc, Esaote, Hologic Inc, Varex Imaging Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 7.0% of the global medical imaging market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 12,526.7 million by 2030.
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Medical Imaging Market Scope
Medical Imaging Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America medical imaging market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical imaging market will help companies and investors design strategic landscapes.
Ultrasound was the largest segment with a revenue share of 32.42% in 2023. Horizon Databook has segmented the Latin America medical imaging market based on x-ray, magnetic resonance imaging, ultrasound, computed tomography, nuclear imaging covering the revenue growth of each sub-segment from 2018 to 2030.
The presence of rapidly developing economies (such as Brazil & Mexico) is primarily driving the overall market growth in the region. The availability of advanced imaging procedures at a reduced cost compared to North America & Europe is making Latin America more attractive for medical tourism.
Furthermore, governments of various countries are constantly working to improve the healthcare infrastructure. As a result, patients from developed countries, such as Canada, the U.S., and Germany, are preferring Latin America for receiving treatments.
Therefore, the anticipated increase in patients traveling to Latin America is expected to boost the demand for medical imaging devices in the region. Furthermore, clinical education through conferences, symposiums, and webinars is becoming crucial in improving the adoption rate of medical imaging devices.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America medical imaging market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America medical imaging market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America medical imaging market size, by country, 2018-2030 (US$M)
Latin America Medical Imaging Market Outlook Share, 2023 & 2030 (US$M)
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