Market Size of South America Digital X-Ray Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.85 Billion |
| Market Size (2029) | USD 1.19 Billion |
| CAGR (2024 - 2029) | 7.18 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Digital X-Ray Devices Market Analysis
The South America Digital X-Ray Devices Market size is estimated at USD 0.85 billion in 2024, and is expected to reach USD 1.19 billion by 2029, growing at a CAGR of 7.18% during the forecast period (2024-2029).
In the early days of the pandemic, when there was no proper diagnosis for the virus, chest X-rays and CT scans were frequently performed to analyze the lungs' condition and detect the disease at an early stage and immediately isolate an infected patient from the healthy population. However, currently, the availability of specific, rapid, and more reliable diagnostic tests for COVID-19 has increased significantly. Since the outbreak of COVID-19 in South America in February 2020, the demand for chest CT has increased, possibly due to the long wait times for the release of RT-PCR test results in some regions, thereby affecting the application of the results in the clinical management of the patients. According to a research study titled 'Increasing Demand for Chest CT Due to COVID-19 in Brazil', published in October 2020, findings showed that, compared to the same period in 2019, the demand for chest CT increased by 192% in a sample size of 94 hospitals and diagnostic centers across 14 Brazilian states from March 1 to June 30, 2020.
Argentina has a relatively high per capita income level among other South American countries. The country has the second-largest economy in the region. Argentina also has a well-funded healthcare system, which allows patients to access the latest technologies in digital radiography. According to the World Bank, in 2020, the per capita GDP in Argentina was USD 8,441.9. The high per capita income entails a greater spending capacity for diagnostic tests such as x-rays, leading to the market's growth.
As per the article published by Carestream Health in November 2021, COVID-19 has put immense pressure on radiology in the South American region. Digital radiography is becoming more prevalent in imaging centers across South America. One of the reasons is that it allows medical professionals to remotely interpret radiological data. As a result, the use of digital X-ray devices was largely used and contributed to the market growth in the region.
Hence, owing to the above-mentioned factors, the market studied is expected to witness strong growth over the forecast period in South America region.
