Government programs and investments in Brazil's healthcare sector have lent momentum to the country's medical imaging market, with revenues expected to reach $919.7 million in 2017, according to a new report from market research firm Frost & Sullivan.
The report projects that the Brazilian market for CT, MRI, and ultrasound produced revenues of more than $584.3 million in 2012. Frost & Sullivan expects the MRI market to grow faster than sales of CT or ultrasound systems.
The growth is based on rising employment levels and greater access to healthcare insurance in Brazil. This is boosting the number of diagnostic imaging exams being ordered and fueling the need for medical imaging systems. In addition, there is a need to replace obsolete medical equipment.
Government proposals to increase the number of community health and oncology centers and units and beds for emergency care are also expected to widen the scope of the medical imaging market in Brazil. This will be supplemented by the expansion of private hospitals as well.
The report warns, however, that the lack of qualified healthcare professionals to operate advanced medical imaging equipment will limit equipment acquisition in Brazilian healthcare institutions. Stringent tax policies may also affect modality sales.
Medical imaging manufacturers in Brazil will need to ramp up marketing and service efforts to achieve product differentiation and drive revenues, Frost & Sullivan noted.
