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Emerging Markets for Diagnostic Imaging Systems Hurt by Economic Crisis
Date:4/23/2009

Revenues from CT and MRI scanner sales in Russia, Brazil, and India will shrink by almost 15% in 2009, according to Millennium Research Group

WALTHAM, Mass., April 23 /PRNewswire/ -- According to Millennium Research Group's (MRG's) report series covering the diagnostic imaging markets in Brazil, India, and Russia, the global economic crisis will severely limit growth in the diagnostic imaging markets in these 3 countries in 2009, particularly for advanced computed tomography (CT) and magnetic resonance imaging (MRI) imaging modalities. Combined revenues from CT and MRI scanner sales in Brazil, India, and Russia will shrink by almost 15% in 2009.

The current economic downturn has resulted in a significant devaluation of both the Brazilian and Indian currencies over the first four months of 2009. This, in turn, has increased the relative cost of imported diagnostic imaging systems from the US and Europe. This higher pricing has made acquiring imported scanners difficult for facilities, and as a result, growth in the Brazilian and Indian diagnostic imaging system market will be severely limited in 2009. In Russia, the impact of economic uncertainty has been compounded by political unrest.

"Reduced prices for crude oil -- Russia's chief export -- led to less health care funding and curbed spending," says Ravindra Sharma, Senior Analyst at MRG. "Although diagnostic imaging systems will still sell during this time, many facilities are expected to opt for less expensive lower-end systems, leading to an overall decline in revenues in 2009."

MRG's Emerging Markets for Diagnostic Imaging 2009 report series -- which covers China in addition to Brazil, India, and Russia -- provides competitive analysis of key industry players, including Agfa HealthCare, FUJIFILM Medical Systems, GE Healthcare, Hitachi Medical Systems, MEDISON, Mindray Medical International, Philips Healthcare
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SOURCE Millennium Research Group
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