The major factors augmenting the growth of the Chilean diagnostic imaging market include rising burden of chronic diseases and growing geriatric population. Imaging procedures play a crucial role in the accurate diagnosis of chronic diseases. The increase in the aging population and changes in societal behavior are contributing to a steady increase in these common and costly long-term health problems. Most of the deaths by chronic diseases are attributable to cardiovascular diseases, obesity, and diabetes. Hence, the rising burden of chronic disease is expected to play a significant role in the imaging utilization in the future. Therefore, high unmet demand for imaging technologies is expected to drive the market growth.
Key Market Trends
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Oncology Segment is Expected to Show Better Growth over the Forecast Period
Based on application, the market is segmented into cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology, and other applications. Oncology deals with the diagnosis and treatment of tumors and cancers. According to Globocan, in 2018, among both sexes, prostate and colorectum cancers were the most common cancers in Chile, with prostate cancer alone contributing to more than 12% of the total new cases. Diagnostic imaging plays a vital role in interventional oncology (with rising opportunities to diagnose and treat in a targeted and minimally or non-invasive manner) as well as in chemo and radiation therapy. Tools, such as CT, are the highly beneficial and preferred method of imaging for many conditions, which is expected to propel the market growth during the forecast period.
The global players into the Chilean diagnostic imaging equipment market are Canon Medical Systems Corporation, Carestream Health, Esaote SpA, Fujifilm Holdings Corporation, GE Healthcare, Koninklijke Philips NV, and Siemens AG.
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