Market Trends of South America Digital X-Ray Devices Industry
This section covers the major market trends shaping the South America Digital X-Ray Devices Market according to our research experts:
Cancer is Expected to Witness Strong Growth Over the Forecast Period
The high burden of cancer disorders, greater technological innovation, rise in the geriatric population leading to greater risk of cancer, and research studies of digital X-rays in diagnosing cancer cases are some of the factors responsible for the growth of this segment in South America region. Many research studies conducted in the region are indicating the expected growth in the market studied.
For instance, Brazil has one of the highest incidence rates of cancer in the South American region. For instance, according to the International Agency for Research on Cancer published in the Globocan 2020 report, the total number of cancer cases in Brazil in 2020 was 592,212. The report also stated that the number of deaths amounted to 259,949. Additionally, according to the same source, the number of new cancer cases is expected to increase to 995,000 by 2040. The high burden of cancer is expected to boost the market growth. Since imaging can be used for the diagnosis of different types of cancer, the demand for this application is expected to be high during the forecast period.
Similarly, according to the Globocan 2020 report, published by the International Agency for Research on Cancer, the estimated number of breast cancer cases in 2020 in Argentina was 22,024. According to the same report, the estimated number of prostate cancer cases in 2020 was 11,686. The deaths from prostrate cancer cases were calculated to be 3,964. The high burden of different types of cancer disorders in Argentina is expected to boost the demand for digital x-rays for diagnosis.
The growing number of people suffering from cancer in major countries across the South American region is a leading factor responsible for the growth of this segment.
Brazil is Believed to Dominate the Market Studied in South America Region
The Brazilian market for digital X-ray devices is majorly driven by the increasing burden of chronic diseases in the country and the growing awareness of radiography imaging in general population.
According to the study titled 'Chronic Obstructive Pulmonary Disease (COPD)-Related Mortality in Brazil, 2000-2019: A Multiple-Cause-of-Death Study,' published in the Journal of Chronic Obstructive Pulmonary Diseases in March 2022, the prevalence of COPD in Brazil is 17% in adults over 40 years of age; only 0.8% of patients have a clinical diagnosis of COPD. By creating images of the lungs to assess the symptoms of chronic cough or shortness of breath, imaging diagnosis can support the diagnosis of COPD. As a result, the demand for diagnostic tools for COPD diseases is increasing, driving the market growth.
Similarly, as per the study 'Incidence of dementia in a Brazilian population: The Tremembé Epidemiologic Study,' published in the Journal of Alzheimer association in August 2021, dementia had a 26.1 per 1000 person-year incidence rate (PY). With age, this rate rose exponentially (8.3/1000 PY for those aged between 60 and 64 years and 110.2/1000 PY for those around 80 years old). For individuals under 65, the incidence rate of dementia was higher in Brazil. The utilization of advanced X-ray technology is highly being used in the diagnosis of dementia which is enabling the rising demand for home-based portable digital x-ray systems. Thus, the prevalence of neurological conditions in the country is expected to drive the growth of the market over the forecast period.
