Strong Economic Growth And Increasing Investment In Public Health Care In Brazil Will Drive Diagnostic Imaging System Market Expansion Advanced Imaging Equipment Will See Strong Adoption as More Funding Becomes Available to Facilities, According to Millennium Research Group
TORONTO, July 2, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the Brazilian market for diagnostic imaging systems is poised for strong expansion through 2021 as a result of increased government investment in health care and the subsequent adoption of premium systems.
As economic growth recovers, the Brazilian government will continue to improve the quality of health care and increase health care capacity; as a result, public health care facilities will purchase more technologically advanced diagnostic imaging systems. As public health care facilities expand their diagnostic imaging fleets, private facilities will follow suit in order to remain attractive to clients.
In particular, facilities will increasingly purchase advanced X-ray and nuclear medicine devices, such as direct radiography (DR) and positron emission tomography/computed tomography (PET/CT) systems. DR systems offer better image quality and throughput in comparison to other X-ray systems, while PET/CT systems, unlike stand-alone nuclear medicine devices, provide attenuation correction and are very effective for oncological applications. As more funding becomes available to facilities, adoption of these premium-priced systems will accelerate, supporting overall market growth.
"In addition to increased facility spending, this market is being supported by very favorable demographics," said MRG Analyst Felix Lam. "An aging and increasingly unhealthy population will drive a significant increase in diagnostic imaging procedures, and both public and private facilities are in the position to meet this need. In addition, as the country becomes wealthier, there is a growing middle class that will have better access to health care, leading to even higher procedure volumes. Facilities are expanding the quantity and quality of their systems to meet the growing demand."
In order to optimize their success in this growing space, many foreign multinational vendors, such as GE Healthcare, Philips Healthcare and Siemens Healthcare have established domestic manufacturing facilities in Brazil. This strategy allows companies to avoid logistical obstacles such as higher production costs and heavy import fees, resulting in lower prices for end users, improved servicing and increased adoption.
Millennium Research Group's Brazilian Markets for Diagnostic Imaging Systems 2013 report includes unit, installed base, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for magnetic resonance imaging (MRI), CT, X-ray, ultrasound and nuclear medicine systems in Brazil.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group