The size of the Latin American Ultrasound devices market was estimated at USD 695.05 Million in 2022. It is projected to reach USD 971.65 Million by 2027, at a CAGR of 6.93% from 2022 to 2027.
Medical sonography (ultrasonography) is an ultrasound-based diagnostic medical imaging technique used to visualize muscles, tendons, and many internal organs to capture their size, structure, and any pathological lesions with real-time tomographic images. Radiologists and sonographers have used ultrasound to image the human body.
The Latin American ultrasound devices market is primarily driven by the growing patient population base for chronic and lifestyle-related disorders (such as hypertension and vascular disorders) coupled with growing geriatric population, technological advancements, rising public-private investments, funds, and grants, increasing demand for minimally invasive disease diagnosis and treatment.
However, the shortage of skilled and experienced sonographers and the technological limitations of ultrasound systems are some of the factors restricting the Latin American ultrasound devices market growth.
This research report on the Latin America Ultrasound Devices Market has been segmented and sub-segmented into the following categories:
By Device Display:
Regionally, the Latin American region is estimated to occupy a considerable share of global ultrasound devices market growth during the forecast period. Factors such as the growing number of healthcare providers and increasing funds and investments from government and private organizations for the research and development of ultrasound imaging, and increasing the occurrence rate of chronic diseases primarily attribute to market growth.
During the forecast period, the Brazilian ultrasound devices market is predicted to play a dominating role in the Latin American market. Introduction of new devices, increasing aging population, developing healthcare infrastructure, growing utilization of ultrasound technologies in obstetrics, and gynecological application are majorly fueling the market in this country.
The Mexican ultrasound devices market is another most lucrative regional market in Latin America and is projected to showcase a healthy CAGR during the forecast period due to factors like the wide range of devices and the growing elderly people population.
KEY MARKET PLAYERS:
A few of the prominent companies operating in the Latin American ultrasound devices market profiled in this report are General Electric Company (U.S.), Koninklijke Philips N.V., Toshiba Corporation, Siemens AG, Hitachi Ltd., Samsung Electronics Co., Ltd., FUJIFILM Holdings Corporation, Esaote S.p.A., Mindray Medical International Ltd and Analogic Corporation (U.S.).
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