U.S. equipment service market to remain flat

The U.S. market for diagnostic imaging equipment servicing is expected to remain flat, growing at a rate of one-half of 1% per year for the next five years, according to a new report from market research firm Millennium Research Group (MRG).

The report predicts that the modality servicing and maintenance market will grow slowly, to reach a total size of $2.78 billion by 2017. MRG believes that any increases in equipment sales will be counterbalanced by declines and slowed growth in diagnostic imaging procedures, as well as effects from uncertainty about healthcare reform and the state of the U.S. economy.

The market will be bolstered by a slowly expanding proportion of premium-priced imaging systems that are sold with higher-priced and full-service contracts. The need for more servicing will also be supported by a growing population of obese and elderly patients requiring diagnostic imaging exams.

However, budget constraints have led healthcare facilities to delay the purchase of expensive capital equipment or to purchase refurbished units, according to analyst Felix Lam. Refurbished systems that are less likely to be covered under a service agreement will negatively affect revenue in this market.

The report also covers selling prices and revenue information, along with the current competitive landscape for MRI, CT, general radiography, and ultrasound system servicing in the U.S., according to MRG.

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