The Latin America Medical Imaging market size is anticipated to reach USD 3.84 billion by 2030, registering a CAGR of 4.7% over the period, 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.Get deeper insights, latest developments & key market drivers in the Latin America Medical Imaging Market
Market 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
Recent Developments
• In January 2024, Canon Medical Systems Corporation and Olympus Corporation announced a collaboration on Endoscopic Ultrasound Systems. The diagnostic ultrasound systems will be developed by Canon Medical, while Olympus will handle marketing and sales.
• 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
Looking for Latin America Medical Imaging Market Report? Get your free sample PDF with key data & latest trends.
Key questions answered in this report
• How big is the LatAm medical imaging market?
• What is LatAm medical imaging market growth?
• Which segment accounted for the largest LatAm medical imaging market share?
• Who are the key players in LatAm medical imaging market?
• What are the factors driving the LatAm medical imaging market?