Latin America Medical Imaging Market To Reach $3.84 Billion By 2030

Latin America Medical Imaging Market Growth & Trends

The Latin America Medical Imaging market size is anticipated to reach USD 3.84 billion by 2030, registering a CAGR of 4.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing incidences of chronic diseases and advancements in imaging technology are significant factors contributing to market growth. According to the datasheet from the PRB, created as part of the IDEA project, cardiovascular disease, diabetes, most cancers, and chronic respiratory diseases are estimated to account for about 81% of deaths in Latin America and the Caribbean by 2030. The growing aging population in Latin America is another key factor driving the demand for medical imaging procedures. As people age, they become more susceptible to chronic diseases, increasing the need for medical imaging services.

Furthermore, increasing healthcare expenditure and government projects for infrastructure development are leading to increased availability and accessibility of medical imaging services in the region, thereby supporting market growth. Brazil dominated the overall market owing to factors, such as high healthcare infrastructure and rapid technological advancement. The market in Mexico is expected to witness the fastest CAGR from 2024 to 2030. Key industry players undertake various strategies to strengthen their market position. For instance, in January 2024, GE HealthCare acquired MIM Software. The company aims to utilize MIM Software's digital workflow capabilities and imaging analytics in diverse care areas to expedite innovation and distinguish its solutions for the global benefit of patients and healthcare systems

 Request a free sample copy or view report summary: Latin America Medical Imaging Market Report

Latin America Medical Imaging Market Report Highlights

• Based on product, the ultrasound segment dominated the market with a share of 32.4% in 2023 due to technological advancements, cost considerations, its applications in point-of-care, and the integration of AI

• The technology computed tomography segment is expected to grow at the fastest CAGR from 2024 to 2030. Healthcare providers in Latin America are adopting advanced CT systems to enhance patient care and outcomes, driving growth in the sector

• The hospitals end-use segment dominated the market with a share of 42.4% in 2023 due to the high demand for advanced imaging modalities and the integration of surgical suits with imaging technologies

• The diagnostic imaging centers end-use segment is anticipated to witness the fastest CAGR from 2024 to 2030. Diagnostic imaging centers offer cost-effective and efficient diagnostic solutions compared to traditional hospital-based imaging services

Latin America Medical Imaging Market Segmentation

Grand View Research has segmented the Latin America medical imaging market on the basis of product, end-use, and region:

Latin America Medical Imaging Product Outlook (Revenue, USD Million, 2018 - 2030)

• X-ray

  • By Modality

    • Radiography

    • Fluoroscopy

    • Mammography

• Magnetic Resonance Imaging

  • By Architecture

    • Closed System

    • Open System

• Ultrasound

  • By Portability

    • Handheld

    • Compact

    • Cart/Trolley-based

• Computed Tomography

  • By Technology

    • High-end Slice

    • Mid-end Slice

    • Low-end Slice

    • Cone beam CT

• Nuclear Imaging

  • By Product

    • SPECT

    • PET

Latin America Medical Imaging End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Diagnostic Imaging Centers

• Others

Latin America Medical Imaging Regional Outlook (Revenue, USD Million, 2018 - 2030)

• Brazil

• Mexico

• Argentina

• Rest of Latin America

List of Key Players in Latin America Medical Imaging Market

• GE HealthCare

• Siemens Healthineers

• Koninklijke Kentalis

• Canon EMEA Medical Systems Corp.

• FUJIFILM Corporation

• Samsung Healthcare

• CurveBeam AI, Ltd.

• Carestream Health

• Hitachi Ltd.

• Agfa–Gevaert HealthCare

• Shimadzu Corp.

• ESAOTE SPA

• Shenzhen Mindray Bio-Medical Electronics Co.

• Neusoft Medical Systems Enlitic, Inc.