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Latin America Medical Imaging Market

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Latin America Medical Imaging Market Insights
Latin America medical imaging market was valued at USD 2.0 billion in 2021, and is expected to reach a value of near USD 3.05 billion by 2028, at a CAGR of 5.5% over the forecast period (2022–2028).

The medical imaging industry is growing at a rapid pace due to the increasing demand for diagnostic imaging services. The market is expected to reach USD 3.05 billion by 2028. This growth is attributed to the increasing number of elderly people and people with chronic diseases who require regular medical imaging. Additionally, the rise in incidences of cancer and other chronic diseases is fueling the market growth. Increased prevalence of chronic diseases such as cardiovascular and neurologic problems, along with the realignment of healthcare systems have put increased emphasis on early diagnosis.

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Latin America Medical Imaging Market Segmental Analysis
Latin America medical imaging market is segmented by type, application, end-user, and region. Based on the type, the market is segmented into magnetic resonance imaging (Closed MRI and Open MRI), X-ray Imaging (X-ray digital imaging systems and X-ray analog imaging systems), ultrasound imaging (2D ultrasound, 3D and 4D ultrasound, and doppler ultrasound), computed tomography, and nuclear imaging. Based on the Application, the Latin America medical imaging market is segmented into general imaging, cardiology, gynecology, oncology, neurology, orthopedics, and others. By end-user, the market is segmented as hospitals, clinics, and diagnostic imaging centers. Based on country, it is segmented into Brazil, Argentina, Peru, Chile, Colombia, and Mexico.

Latin America Medical Imaging Market Regional Insights
In 2021, Brazil was responsible for generating over 24.0% revenue of Latin America medical imaging market, which is followed by Argentina with 17.0% market share. This can be attributed to availability of advanced healthcare facilities, presence of multi-specialty hospitals with advanced equipment. Some of the key hospitals in Latin America medical imaging market are Hospital Israelita Albert Einstein (Brazil) 55; Hospital Das Clínicas Da Faculdade De Medicina Da Universidade De São Paulo (Brazil); Hospital Sírio-libanês (Brazil); Hospital Italiano De Buenos Aires (Argentina); and Irmandade Da Santa Casa De Misericórdia (Brazil) among many others.

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Top Players Profiles
•	GE Healthcare (US)
•	Siemens Healthineers (Germany)
•	Koninklijke Philips N.V. (Netherlands)
•	Canon Medical Systems Corporation (Japan)
•	FUJIFILM Holdings Corporation (Japan)
•	Hitachi Ltd. (Japan)
•	Carestream Health, Inc. (US)
•	Esaote S.p.A (Italy)
•	Hologic, Inc. (US)
•	Samsung Electronics (South Korea)
•	Mindray Medical International (China)
•	CurveBeam LLC (US)
•	Shimadzu Corporation (Japan)
•	Neusoft Medical Systems (China)
•	SternMed (Germany)
•	Neusoft Medical Systems (China)

Recent Developments
•	In March 2022, Siemens Healthineers showcased the latest products and technologies in radiology at 74th National Conference, IRIA 2022, Bengaluru, India. Siemens Healthineers unveiled MAGNETOM Free.Star and NAEOTOM Alpha®, its unique solutions in MRI and CT portfolio.
•	In May 2021, Koninklijke Philips N.V. (Netherlands) introduced the Spectral Computed Tomography (CT) 7500 system for precision diagnosis.
•	In March 2021, GE Healthcare, a US-based healthcare comp launched Venue Fit, a streamlined and compact POCUS system, alongside an industry-first AI offering for cardiology

