Latin America Advanced Visualization (AV) Market Opportunities, Size, Share, Emerging Trends, Technological Innovation and Forecasts

In a recent published report, Kenneth Research has updated the Market report for Latin America Advanced Visualization (AV) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Latin America Advanced Visualization (AV) MarketProducts.

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Advanced visualization (AV) systems are medical instruments, equipped with advanced software that display the numerous aspects of living cells efficiently. They are new-generation data visualization platforms that help end users to view data in depth by providing enhanced image quality. These help specialists by providing a better understanding of various clinical issues, thus, leading to faster and higher quality healthcare. It is widely utilized in most pathological laboratories as well. They also help in targeted drug therapy, ultimately reducing the cost of the procedure. The Latin American AV market is expected to reach USD Bn by 2023 with a CAGR 10.15% of during 2018-2023.

According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

The market is divided into three primary segments based on the types of product, solution and imaging modality.
Based on the types of product, the market is segmented into hardware and software and services.
Based on solution, the market is divided into enterprise-wide thin client-based solution and standalone workstation-based solution.
Based on imaging modality, the market is classified into magnetic resonance imaging (MRI), positron emission tomography (PET), computer tomography (CT), ultrasound and x-ray.
On the basis of countries, the market is segmented into Brazil, Argentina and the rest of Latin America (LATAM).

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Key growth factors

Growth in the gross domestic product (GDP) and rise in income levels are expected to boost the AV market in the coming year. With Brazil and Argentina coming out of recessions, growth is slowly returning to the LATAM region after almost five years of deceleration. Inflation is also controlled at sub-nominal levels, hinting at a favorable environment for the growth of the advanced visualization industry. Chronic diseases have become extremely prominent in this region, such as cancer and cardiovascular diseases. Based on various researches, the Inter-American Development Bank has developed various cost-effective strategies to improve healthcare among people. This may boost the AV market.

Threats and key players

The AV market in LATAM may face various challenges due to the economic limitations of the region, since such systems are quite expensive, and many hospitals may not be able to afford them due to financial constraints and high costs associated with installing medical imaging modalities. According to the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), in 2017, the poverty rate in LATAM was nearly 31%, driven in part by economic crises in Venezuela and Brazil. This could adversely affect the growth of the AV market. Lack of funding due to economic instability, failures of previous projects, lack of specialized personnel, short-sightedness and limited compromise of the government with eHealth can cause the AV market to be adversely affected. Similarly, limited technological resources can also affect the market.
The key competitors in the Latin American AV market are Toshiba, Ziosoft, Koninklijke Philips N.V., Afga-Gevaert, Conmed and others.

What’s covered in the report?

1. Overview of the Latin American AV learning market.
2. Market drivers and challenges of the Latin American AV market.
3. Market trends in the Latin American AV market.
4. Historical, current and forecasted market size data for the segment based on the types of product – hardware and software and services.
5. Historical, current and forecasted market size data for the segment based on solution – enterprise-wide thin client-based solution and standalone workstation-based solution.
6. Historical, current and forecasted market size data for the segment based on imaging modality – magnetic resonance imaging (MRI), positron emission tomography (PET), ultrasound, computed tomography (CT) and x-ray.
7. Historical, current and forecasted country-wise (Brazil, Argentina and the rest of LATAM) market size data for the AV market.
8. Historical, current and forecasted market size data for the country-wise segments.
9. Analysis of the company profiles of major competitors operating in the market.

Why buy?

1. Understand the demand for AV to determine the viability of the market.
2. Identify the challenge areas and address them.
3. Develop strategies based on the drivers, trends and highlights.
4. Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed.
5. Recognize the key competitors of this market and respond accordingly.
6. Knowledge of the initiatives and growth strategies taken by the major companies and decide the direction of further growth.
7. Define the competitive positioning by comparing the products and services compared with the key players in the market.

Customizations available

With the given market data, Kenneth Research offers customizations according to specific needs. Write to us at sales@kennethresearch.com.

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

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