Navigation Links
Economic Crisis Impacts US Diagnostic Imaging Systems Market
Date:11/10/2008

Slowing economy affecting MRI, CT, and nuclear medicine systems, according to Millennium Research Group

WALTHAM, Mass., Nov. 10 /PRNewswire/ -- According to Millennium Research Group's (MRG's) US Markets for Diagnostic Imaging Systems 2009 report and its US Imaging Marketrack(TM) service, a combination of factors involving the current state of the US economy, excess installed capacity, and regulatory initiatives aimed at managing health care costs will have a negative effect on sales of computed tomography (CT) systems, magnetic resonance imaging (MRI) systems, and nuclear medicine scanners over the next five years.

The effect of the US economic downturn in the diagnostic imaging market was evident in MRG's US Imaging Marketrack(TM) findings. Compared to Q2 2008, respondents in Q3 reported lower facility financial health and a notable decrease in diagnostic imaging purchase intentions.

"In addition to the current credit crunch, which has made raising capital for new purchases more difficult and expensive for many facilities," says David Plow, Manager of MRG's Diagnostic Imaging division, "there are already over 8,000 MRI scanners installed in the US, meaning the market has reached saturation. Compounding these restrictions, most MRI facilities are operating below capacity and, as a result, do not intend to purchase additional scanners."

Government cost-cutting initiatives are further dampening revenues. The implementation of the Deficit Reduction Act (DRA) has constrained the market for diagnostic imaging systems. Reduced reimbursements enforced by the DRA have made investment in additional scanners more difficult for nonhospital facilities. Furthermore, proposed initiatives from Centers for Medicare and Medicaid Services (CMS) designed to regulate contrast-enhanced procedures performed in physician offices to restrict self-referral will also hinder scanner sales.

MRG's global coverage of the diagnostic imaging systems market also includes data on Europe and Asia Pacific. The US Markets for Diagnostic Imaging Systems 2009 report provides coverage of key industry competitors, including Digirad, Fonar, GE Healthcare, Hitachi Medical Systems, ONI Medical Systems, Philips Healthcare, Segami Corporation, Siemens Healthcare, Spectrum Dynamics, Toshiba America Medical Systems, and more. Additionally, a survey of US-based radiologists was used to inform the analysis.

About US Imaging Marketrack(TM)

US Imaging Marketrack(TM) is an ongoing quarterly survey of over 300 US hospitals and imaging centers that track changes in facility financial health and diagnostic imaging modality purchase intentions. Data is tracked using MRG's Facility Financial Health Index (FFHI).

About Millennium Research Group

Millennium Research Group (http://www.MRG.net), a Decision Resources, Inc. company (http://www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the health care sector. The company provides specialized industry expertise through published reports, ongoing Marketrack(TM) projects, and customized solutions.

About Decision Resources, Inc.

Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the health care industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at http://www.DecisionResourcesInc.com.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Amy Krohn

Millennium Research Group

416-364-7776 x101

akrohn@mrg.net

Elizabeth Marshall

Decision Resources Inc.

781-296-2563

emarshall@dresources.com


'/>"/>
SOURCE Millennium Research Group
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Current Economic Situation Prompts Increased Smoking, Delay in Quit Attempts, Middle and Low-Income Americans Hit Hardest
2. Andy Tate, North Star Resource Group Advisor, Named One of Medical Economics 150 Best Financial Advisors for Doctors
3. XanGo, Direct Selling Provide Answers in Economic Downturn
4. Survive the Economic Downturn Through Innovations in Integrated Customer Strategies
5. Obama Puts Healthcare, Economic Relief for Middle Class First in Prime-Time Special
6. Susan Lark, MD Offers 5 Tips for Managing Stress During Tough Economic Times
7. Economic Update: You Should Invest (in Your Appearance)
8. Leading Insurer Offers Education on How Supplemental Insurance Can Help Offset Challenging Economic Trends in Canadian Market
9. Stroller Strides(R) Franchises Succeed Despite Economic Climate
10. No Need to Forego Nutrition in Tight Economic Times
11. Nations Economic Downturn Threatens Continuity of Care for Chronic Conditions
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/26/2017)... ... July 26, 2017 , ... A major challenge many labs face is ... samples and a lengthy freeze dry cycle are a few common challenges that can ... as well as new accessories and advancements in laboratory freeze dryers that will improve ...
(Date:7/26/2017)... ... July 26, 2017 , ... ... host its 2017 Process Validation and Process Validation Statistics Conferences in Bethesda, ... process validation lifecycle challenges faced by process validation professionals and statisticians today. ...
(Date:7/26/2017)... ... 26, 2017 , ... Team Type 1 Foundation, a nonprofit organization pursuing a ... diabetes, is excited to announce the 106 college athletes with type 1 diabetes who ... 2005, the Team Type 1 Foundation has bestowed a total of 271 college scholarships ...
(Date:7/26/2017)... ... , ... IDC-Eating Disorder Care is excited to announce Dr. Tracey ... Oak, Michigan. IDC, formerly known as Inner Door Center, was acquired in ... in the field of eating disorder treatment in the state of Michigan. ...
(Date:7/26/2017)... ... ... Wendy M. Musielak, a partner at the Andrew Cores Family Law Group, ... Vice President earlier this year. She will serve the membership in this capacity for a ... accordance with the organization’s by-laws. , Musielak joined the Andrew Cores Family ...
Breaking Medicine News(10 mins):
(Date:7/13/2017)... , July 13, 2017  New York City-based market research ... markets should be aware of.  From new products to new ... detailed in a recently completed study, Potential Pipeline Disruptors ... 1.  Age-Driven Growth - True ... been aware of the impact the growing population and, to ...
(Date:7/11/2017)...  Bayer has awarded grants totaling more than $2 million ... prestigious Bayer Hemophilia Awards Program (BHAP). Four U.S. clinicians and ... and Uniformed Services University of the Health Sciences in ... recipients were announced last night during a reception at the ... Berlin, Germany . ...
(Date:7/11/2017)... Oramed Pharmaceuticals Inc. (NASDAQ: ORMP ... on the development of oral drug delivery systems, announced ... has agreed to schedule an End-of-Phase II meeting with ... its oral insulin capsule ORMD-0801 in the treatment of ... and secondary endpoints by indicating a statistically significant lowering ...
Breaking Medicine Technology: