Ultrasound devices have become essential tools across numerous medical fields, enabling non-invasive, real-time visualization of internal organs, tissues, and blood flow. Doppler, elastography, and 3D/4D imaging are examples of advanced features that have greatly improved clinical decision-making and diagnostic accuracy. Due to increased healthcare demands and an increase in disease burdens, the ultrasound industry is expanding quickly in Brazil and Mexico. This growth is being fueled by technological developments, such as the use of point-of-care ultrasonography (POCUS), government assistance, and investments in healthcare facilities. Furthermore, economic expansion and rising healthcare expenditures, along with a greater emphasis on women's health and preventative care, foster an atmosphere that is conducive to the broad adoption of advanced ultrasound technologies in these developing nations.

The Brazil and Mexico ultrasound market was valued at $192.3 million in 2022 and is anticipated to grow to $326.7 million by the end of 2030, at a projected CAGR of 6.97% during the forecast period 2023-2030.

Key Figures

• Installed Base
  Brazil: In 2022, Brazil’s installed base of ultrasound systems stood at 60,693 units. This number is projected to grow robustly to 95,510 units by 2030, reflecting a compound annual growth rate (CAGR) of 6.10% from 2023 to 2030.
  Mexico: Mexico’s installed base was 39,639 units in 2022, with expectations to reach 57,265 units by 2030, marking a CAGR of 4.80% during the forecast period.
  
  

• Units Sold
  Brazil: Ultrasound system sales totaled 7,053 units in 2022 and are forecasted to increase to 11,349 units by 2030, with a CAGR of 6.29%.
  Mexico: Sales in Mexico are projected to rise from 5,881 units in 2022 to 8,843 units by 2030, reflecting a CAGR of 5.34%.

Key Trends

• Digitization of Ultrasound Imaging: Brazil and Mexico are advancing ultrasound markets through government initiatives focused on digitizing images and integrating telemedicine. While Mexico extends digital tools and modernizes medical records despite financial difficulties, Brazil gains from investments in healthcare technology and the implementation of 5G.

• Artificial Intelligence in Ultrasound: AI is rapidly enhancing ultrasound imaging in both countries. With the help of top universities, Mexico uses AI to provide better prenatal care and remote monitoring. With an emphasis on healthcare access in underprivileged areas, Brazil uses AI to improve diagnostic accuracy and alleviate equipment inequities.

Market Segmentation

• By Application
  •    Radiology
  •    Cardiology
  •    Women's Health
  •    Speciality
  •    Primary Care
  •    Point of Care
  •    Veterinary

Based on application, the women's health segment is expected to dominate the Brazil and Mexico ultrasound market. On the other hand, the veterinary ultrasound segment is expected to be the fastest-growing segment in the Brazil and Mexico ultrasound market.

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Pricing Analysis

In Brazil and Mexico ultrasound market, budget constraints, cost-effectiveness, and the availability of advanced features influence the choice between new and refurbished ultrasound systems, with refurbished options being favored in underserved regions due to their affordability. However, because of their sophisticated features, modern systems are favored at prestigious hospitals.

Conclusion

The Brazil and Mexico ultrasound market is poised for continued growth, fueled by rising healthcare demand, increasing disease burdens, and advancements in diagnostic technologies. Brazil's market is influenced by supply chain vulnerabilities and import levies, among other economic issues that affect availability and pricing. Notwithstanding these obstacles, the market is expanding due to investments in cutting-edge ultrasound technology and the increased emphasis on women's health and cancer diagnosis. Pre-owned ultrasound systems are preferred in Mexico due to financial constraints, and there is a growing need for less expensive choices, especially in rural regions. The increasing number of adolescent pregnancies in the nation also adds to the rising demand for fetal monitoring ultrasonography equipment. As part of a larger trend to improve diagnostic capabilities while controlling costs in healthcare infrastructure, the ultrasound markets in Brazil and Mexico are also seeing a transition towards more specialized and affordable ultrasound devices, including those with AI-enhanced features.