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Last updated on April 18, 2014 at 17:24 EDT

Emerging Markets for Diagnostic Imaging Systems Hurt by Economic Crisis

April 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, Siemens Healthcare, SonoSite, Toshiba Medical Systems, as well as a number of domestic competitors.

About Millennium Research Group

Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (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 syndicated reports, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, 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 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


Source: newswire