Brazil Ultrasound Devices Market - Growth, Trends, and Forecasts (2022 - 2027)

Brazil's Ultrasound Devices Market was valued at USD 156 million in 2021 and is projected to register a CAGR of 6.73% during the forecast period (2022-2027).

During the pandemic, the number of disease diagnoses and identifications due to screening tests decreased in Brazil. As stated by the 2020 report from Brazilian National Health Agency, the outpatient visits were reduced, and procedures, tests, and elective surgeries were suspended as part of the lockdown in the country. These activities mostly impacted cancer patients, as the time required for screenings, diagnosis, and treatment initiation hurt outcomes. This has a significant impact on screening services throughout Brazil. According to the study title 'The challenges imposed by COVID-19 on the management of diagnostic centers,' a scenario similar to that seen in the United States has been reported in Brazil, with reports of significant drops in demand for diagnostic imaging services across the country, reaching a 56.4-63.7 % reduction among inpatients, according to a study published in the Journal of the American College of Radiology in August of 2020. Therefore, it is observed that COVID-19 had a significant impact on the market studied.

The major factors contributing to the growth of the market include the rising prevalence of breast cancer, the increasing number of screening programs as well as rising number of conferences and symposiums focusing on spreading awareness about the benefits of early screening and diagnosis. Furthermore, technological advancements in ultrasound devices, the launch of new products by key regional companies, and the approval of new and improved technologies that are effective in the diagnosis and detection of various diseases will all contribute to the country's market growth. For instance, in September 2020, Intel and Samsung Medison collaborated on new smart workflow solutions. The Intel Distribution of OpenVINO toolkit and OpenCV toolkit, Samsung Medison's BiometryAssist automates and simplifies fetal measurements. BiometryAssist is already available in several countries such as Brazil, the United States, Korea, and others.

Hence, owing to the above-mentioned factors, the market studied is expected to witness high growth over the forecast period in Brazil.

Key Market Trends

Radiology is Expected to Witness Healthy Growth in Coming Years

Interventional radiology (IR) can be defined as a medical subspecialty that performs various minimally-invasive procedures using medical imaging guidance. The ultrasound market for radiology applications in Brazil is expected to grow owing to the factors such as the rising number of interventional neurological procedures, genitourinary interventional procedures, and a growing number of cancer procedures.

For instance, as per the statistics by the GLOBOCAN 2020, in Brazil, an estimated number of brain and nervous system cancer cases in 2020 were 12,300 and the number is estimated to reach 18,800 by the year 2040. Such a high number indicates that the demand for ultrasound systems in radiology departments will increase with the growing burden of cancer. In addition, according to Globocan 2020, the number of new cancer cases in 2020 in Brazil was 592,212 and this number is expected to increase by 994,823 in 2040. Such statistics indicate the increasing demand for ultrasound systems in the country.

Moreover, the country offers opportunities for expansion to market players, thereby fueling market growth. For instance, in February 2021, Insightec received market approval from the Brazilian Health Regulatory Agency, ANVISA (Agencia Nacional de Vigilancia Sanitaria), and partnered with Strattner to bring Focused Ultrasound to the Brazilian market.

Hence, the above factors and research studies are further expected to improve the market growth in this segment.

Competitive Landscape

The Brazilian market is concentrated with a few large players. Public and private companies are found investing in R&D to advance their technologies in the field of ultrasound imaging, as it is becoming one of the fundamental aspects of healthcare. The updated technological portable devices are praised globally, and the companies have a wide presence across the developed and emerging markets. Some of the major companies investing in ultrasound devices are Philips, Siemens, Canon, and Fujifilm.

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