Abstract
In 2008, the global market for magnetic resonance imaging (MRI) systems grew
modestly over the previous year. At the start of 2008, industry experts were
expecting this market to grow more strongly because of demand from unsaturated
markets in Brazil, Russia, India, and China (collectively called "BRIC"). The
global economic crisis that intensified in the last quarter of 2008, however,
had a huge negative effect on the market. In 2009, macroeconomic issues will
continue to impact this market. As credit remains tight and the effect of a
stronger US dollar raises prices in local currencies for BRIC nations, demand
for these systems will remain mild. Consequently, there will be a sharp
decline in the global MRI system market through 2009. As the economic crisis
eases from 2010 onward, total revenues will start to increase again. Driving
this growth will be strong demand from the BRIC nations where governments are
spending to improve health care infrastructure. The maturity of the US market
will continue to limit global expansion. Additionally, regulatory moves to
curb health care costs will add to uncertainty among buyers. Over the forecast
period, the global market for MRI systems will thus exhibit slow growth.
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