The global medical imaging market is expected to recover from current economic doldrums and a significant decline in reimbursement to reach revenues of $6.55 billion in 2012, according to a new study from market research firm Frost & Sullivan.
The report calculated worldwide market revenues of $5.73 billion in 2009, which would mean growth of 14% by 2012. The study cited advances in technology and new clinical applications for imaging modalities as growth drivers.
In addition, despite the ongoing global economic slump hindering business and adversely affecting markets in the U.S. and Europe, countries such as India and others in the Asia-Pacific region are expected to emerge unscathed, according to the San Antonio-based firm. Their buoyancy is due to demand for healthcare and the increasing ability of patients to spend on improved health services in these regions.
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