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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


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SOURCE Millennium Research Group
Copyright©2008 PR Newswire.
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