The COVID-19 pandemic has shed light on the diagnostic imaging equipment market in Brazil. 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.

The rising requirement for advanced lung imaging solutions is expected to boost the development of studies to evaluate lung deterioration due to 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 aforementioned factors, COVID-19 is expected to boost the studied market growth during the pandemic era.

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. Additionally, 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 has resulted in rheumatoid arthritis (RA) being considered as a chronic health burden in the country.

Additionally, diagnostic imaging also diagnoses the disease in its early stage, and greatly improves patient’s survival outcomes. The medical imaging industry has been revolutionized from bed-side monitoring to high-end digital scanning. Therefore all these factors are expected to drive the overall growth of the market.

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Key Market Trends

X-Ray is Expected to be Hold the Major Share in the Brazil Diagnostic Imaging Equipment Market over the Forecast Period

X-ray imaging creates pictures of the internal body parts. The images show the parts of the body in different shades of black and white, as different tissues absorb different amounts of radiation. The COVID-19 pandemic significantly contributed to the growth of x-ray devices in Brazil, as these devices play a key role in the diagnosis of COVID-19 through lung X-ray imaging and indicate the affected lung tissue in infected patients.

The development of new products related to x-ray devices is expected to contribute significantly to the market growth. The key players are focusing on adopting various growth strategies, such as new product launches, innovations in the existing products, and mergers and acquisitions for the introduction of more efficient medical imaging devices and strengthening their market presence. For instance, in 2018, Agfa entered the partnership with VMI Technologies to start digital x-ray production in Brazil.

Additionally, according to a study titled, ’’Estimating the productivity of radiologists in Brazil: the search for a benchmark’’, published in April 2020, nearly 16% of the total radiologists stated that the main imaging method employed was an x-ray. This indicates that the rising diagnostic methods related to x-ray are rising in the country. Hence, overall, with the aforementioned factors, the market is expected to exhibit healthy growth in this segment.

Competitive Landscape

The studied market is consolidated owing to the presence of a few major players in the market. The market players are focusing on R&D to develop technologically advanced products in order to reduce the cost and side effects associated with the products. The barriers for the new entrants are high in this industry, and hence few major market players hold the maximum market share.

The key players of the brazil diagnostic imaging equipment market comprise Canon Medical Systems Corporation, Carestream Health Inc., Esaote SpA, Fujifilm Holdings Corporation, GE Healthcare (GE Company), Siemens Healthineers among others. The market players are involved in various strategic alliances such as acquisitions and collaboration to enhance the product portfolio globally. For instance, in May 2019, Canon Medical Systems Corporation launched the SOLTUS 500 Mobile Digital X-ray which provides enhanced versatility and performance.

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