The current economy is projected to have a negative impact on imaging sales.
This according to Millennium Research Group's "US Markets for Diagnostic Imaging Systems 2009" report and its U.S. Imaging Marketrack service.
The state of the economy, coupled with excess installed capacity and regulatory initiatives aimed at managing healthcare costs, is expected to slow sales for computed tomography (CT) systems, magnetic resonance imaging (MRI) systems and nuclear medicine scanners over the next five years.
MRG's U.S. Imaging Marketrack found that respondents reported lower facility financial health and a notable decrease in diagnostic imaging purchase intentions during the third quarter of 2008, compared to the second quarter of this year.
"In addition to the current credit crunch, which has made raising capital for new purchases more difficult and expensive for many facilities, there are already over 8,000 MRI scanners installed in the U.S., meaning the market has reached saturation," said David Plow, manager of MRG's Diagnostic Imaging division. "Compounding these restrictions, most MRI facilities are operating below capacity and, as a result, do not intend to purchase additional scanners."
The report says government cost-cutting initiatives are also dampening revenues.
The Deficit Reduction Act (DRA) has also restrained the market for diagnostic imaging systems. Reduced reimbursements enforced by the DRA have made investment in additional scanners more difficult for non-hospital facilities.
Scanner sales will also be hindered by the Centers for Medicare and Medicaid Services' proposed initiatives to regulate contrast-enhanced procedures performed in physician offices to restrict self-referrals.