Brazil Diagnostic Imaging Equipment Market Size

Brazil Diagnostic Imaging Equipment Market Analysis

The Brazilian diagnostic imaging equipment market was valued at approximately USD 997.69 million in 2021, and it is expected to witness a revenue of USD 1,450.64 million in 2027, with a CAGR of 5.64% over the forecast period.

The COVID-19 pandemic boosted the growth of the Brazilian diagnostic imaging equipment market. Among the majorly used COVID-19 screening options, diagnostic imaging is preferred by most healthcare professionals, as it provides a primary diagnosis in a short time, with accuracy. All the imaging modalities, including nuclear imaging, CT scan, and X-ray imaging, have been used exhaustively to study COVID-19 and its effect on varied demographic patients. Furthermore, the rising requirements for advanced lung imaging solutions are expected to boost the development of studies to evaluate lung deterioration due to the COVID-19 infection. Since the COVID-19 outbreak in Brazil in February 2020, the demand for chest CT scans has increased, which is majorly due to the long waiting period in obtaining RT-PCR test results in some regions, thereby affecting the results in the clinical management of patients. According to a research study titled 'Increasing Demand for Chest CT Due to COVID-19 in Brazil', in Scientific Electronic Library Online (SciELO), published in October 2020, the results demonstrated that in a sample size of 94 hospitals and diagnostic centers from 14 Brazilian states, an increase of 192% in demand for chest CT was observed from March 2020 to June 2020, when compared to the same period in 2019. Thus, given the factors mentioned above, the COVID-19 pandemic is expected to boost market growth.

The major factors augmenting the growth of the Brazilian diagnostic imaging market include the rise in the prevalence of chronic diseases, increased adoption of advanced technologies in medical imaging, and a rise in the geriatric population.

For instance, according to the estimates of the GLOBOCAN 2020, around 592,212 new cancer cases and 259,949 deaths due to cancers were reported in Brazil, and the five-year prevalence rate of cancers in Brazil was 1,563,761. Therefore, diagnostic imaging technologies are used extensively by doctors to examine and diagnose the exact medical conditions of patients. Also, as per the February 2020 research study titled 'Rheumatoid arthritis treatment in Brazil: data from a large real-life multicenter study,' in the sample size of 1,115 patients, 78.7% were rheumatoid factor positive, which resulted in rheumatoid arthritis (RA) being considered as a chronic health burden in the country.

Moreover, diagnostic imaging diagnoses the disease in its early stage and dramatically improves the patient's survival outcomes. The medical imaging industry has been revolutionized from bedside monitoring to high-end digital scanning. Therefore, all these factors are expected to drive the market's overall growth.