Siemens Healthineers AG, GE Healthcare (A subsidiary of GENERAL ELECTRIC), Koninklijke Philips N.V. are Dominating the Latin America Radiology Services Market in 2019

Latin America Radiology Services Market is expected to grow at a CAGR of 11.9% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below:

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Latin America radiology services market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in Latin America radiology services market are introducing strong range of product portfolio. This has also helped the companies to maximize the sales with enhanced product portfolio.

For instance,

• In March 2019, Siemens Healthineers AG had installed an artificial intelligence based tomograph in the Domingo Funes hospital of Santa María de Punilla in Argentina. With this launch of enhanced product in Argentina, the company has increased their revenue.

Siemens Healthineers AG, is the dominating player in the radiology services market and accounts the highest market share in 2019, which is followed by GE Healthcare (A subsidiary of GENERAL ELECTRIC), Koninklijke Philips N.V., Siemens Healthineers AG, Carestream Health (A subsidiary of Onex Corporation), Teleradiología de Colombia S.A.S., X-RAY ASSOCIATES OF NEW MEXICO P.C., Radiology Associates of Albuquerqe, PA and others.

Siemens Healthineers AG

Siemens Healthineers AG is headquartered in Erlangen, Germany and offers technologies and services in the areas of diagnostic and therapeutic imaging, laboratory diagnostics and molecular medicine as well as digital health and enterprise services. The company deals in various business segments such as imaging, diagnostics and advanced therapies. In these, the company also deals with different categories such as medical imaging, laboratory diagnostics, point-of-care testing, digital health solutions, services & consulting, clinical specialties, accessories, OEM & electronics, healthcare IT.

For instance,

• In March 2019, Siemens Healthineers AG acheived approval from Food and Drug Administration (FDA) for their new product called Mobilett Elara Max, a mobile X-ray system. This new system provides the complete information technology (IT) security and secures the system of hospital’s IT. 

The company has wide global presence across the world such as North America, South America, Asia-Pacific, Europe, Middle East and Africa. In addition to it, the company also generates its revenue from the various subsidiary companies such as Siemens Healthcare SAS (France), Dedicated2Imaging LLC, (United States), Acrorad Co., Ltd., (Japan), Siemens Healthcare d.o.o., (Croatia) and Siemens Healthcare Nederland B.V. (Netherlands) among others.

GE Healthcare (A subsidiary of GENERAL ELECTRIC)

GE Healthcare (A subsidiary of GENERAL ELECTRIC) y mainly focuses in the pursuit of precision health along with improved outcomes for healthcare providers and for therapy innovators around the world.  The company deals in various business segments such as healthcare systems, life sciences.

For instance,

• In December 2019, GE Healthcare (GENERAL ELECTRIC COMPANY) has launched a cloud-based radiology imaging service for radiologists. The service has enabled them to share medical images remotely with minimal cost. The platform was launched at the 101st annual Radiological Society of North America (RSNA) meeting held in Chicago. Launching this new product, the company enhanced their product portfolio.

The company has subsidiaries such as Biacore (Sweden), GE Healthcare Dharmacon, Inc.(U.S.), Nihon Medi-Physics Co.,Ltd.(Japan), Medi-Physics, Inc.(U.S.), Hyclone Laboratories Inc (U.S.), Biosafe SA (Switzeland), ONI Medical Systems(U.S.) and Wipro GE Healthcare Pvt. Ltd. (India) among others. The company has its strong presence in Asia-Pacific, Europe, Middle East and Africa, North America, South America.

Koninklijke Philips N.V.

Koninklijke Philips N.V.  was founded in 1891and has its headquarters in Amsterdam, Netherlands. The company is engaged in enabling better outcomes for diagnosis, treatment, home care and improving people’s health across the world.   The company offers its products through business segments such diagnosis & treatment businesses, personal health businesses, connected care & health informatics businesses and other.

For instance,

• In March 2019, Koninklijke Philips N.V. they have expanded their radiology solutions portfolio with innovative services of teleradiology by launching of cloud-based radiology, tele-radiology services. The company has enhanced their credibility in the market by launching such innovative services.

The company has presence in North America, South America, Asia-Pacific, Europe, Middle East and Africa region. It also generates the revenue from subsidiaries such as Philips GmbH (Germany), Philips Consumer Lifestyle B.V. (Netherlands), Philips Medical Systems Nederland B.V. (Netherlands), Philips Ultrasound, Inc. (U.S.) and Philips Oral Healthcare, LLC (U.S.) among others.