Positron Emission Tomography Market to Boom Over Next Five Years
Reimbursement cuts spark shift to hospital based procedures, according to Millennium Research Group.
Waltham, Massachusetts (PRWEB) March 19, 2007
Millennium Research Group has conducted a detailed analysis of the nuclear medicine systems market in its Global Markets for Nuclear Medicine Systems 2007 report. The report finds despite recent reimbursement cuts to the Positron Emission Tomography (PET) procedures in the US; the largest segment of the market will still experience strong growth. Currently valued at close to $638 million in 2006, the US PET market will grow to $1009.7 million by 2011.
The Medicare reimbursement changes, which were implemented in January of this year, cut reimbursement for imaging procedures performed in non-hospital settings. Combined with the stipulations under the Deficit Reduction Act (DRA), this reduced reimbursement will cause the market to shift toward hospital based PET procedures.
"Over the next five years, this will induce a shift in demand from outpatient centers to hospitals," says David Plow, senior analyst at MRG. "In addition, procedure volumes will grow due to the growing number of PET applications, thus limiting the impact of these cuts over the next five years."
PET/CT systems are used for diagnostic imaging in oncology, neurology, and cardiology. Procedures performed on these systems range from detection and follow up of cancers to scanning for Alzheimer's disease.
The Global Markets for Nuclear Medicine Systems 2007 report provides coverage of the US, Europe and Japan. Selected companies covered in this report include Digirad Corporation, GE Healthcare, Philips Medical Systems, Siemens Medical Solutions, and Toshiba Medical Systems.
About Millennium Research Group
Millennium Research Group (www. MRG. net), a Decision Resources, Inc. company (www. DecisionResources. com), is the global authority on medical technology market intelligence and a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services.
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