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BURBANK, Calif., Jan. 30, 2006 (PRIMEZONE) -- Imaging3(tm), Inc. (OTCBB:IMGG), developer of a breakthrough medical imaging device that produces 3-D medical diagnostic images of virtually any part of the human body in real-time, today reports that a recently released market study sees the medical diagnostic imaging market growing from $6.6 billion to more than $8.2 billion over the next two years. This growth rate of more than 7.6% is being driven by the increase of procedures used for diagnostic imaging.
Poised for a period of remarkable growth, this vitality in Imaging3's market sector is due primarily to continual technological improvements that lead to faster and higher-resolution imaging, greater patient safety, and the provision of these capabilities to a growing and aging population. The result has been a vigorous competition to create the most cost-effective diagnostic imaging systems, and Imaging3's Dominion system is emerging as a potential leader of the pack.
Diagnostic imaging is an evolving part of modern medicine and is now entering a new era of digital imaging. The field has evolved from the early X-rays by German physics professor Wilhelm Roentgen over 100 years ago, to imaging of organs by computerized tomography (CT) and magnetic resonance imaging (MRI), techniques that are 20 years old. The latest advances in imaging dwarf even those developments. What was once called the radiology department is now called the diagnostic imaging department because of the wealth of new technologies available beyond x-rays.
Aging Boomer Population Driving Growth of Procedures
Diagnostic imaging is an important part of medical diagnosis, and is used in diagnosing the leading causes of death, heart attack, stroke and cancer. Other uses range from a dentist's X-ray to find tooth decay, to angiograms done to aid a cardiologist in performing an angioplasty. The aging baby boomer population will benefit from the new imaging capabilities for cancer and heart disease detection. The revolution in medical imaging is being fueled not only by new medical imaging technology, but also by advances in computer hardware and software. New systems such as spiral CT or multi-slice CT, which allow for amazingly detailed images of the internal parts of individual organs, would not be possible without today's faster processors. Better software algorithms for image analysis and compression make the process more accurate and efficient.
According to the Freedonia Group, a market research firm based in Cleveland, Ohio, the $6.6 billion U.S. market for medical imaging equipment will grow 7.6 percent annually through 2008, driven by more procedures involving diagnostic imaging. Digital radiography equipment, such as that provided by Imaging3, and positron emission tomography (PET) scanners will be among the top performers, followed by more established products such as CT, MRI and ultrasound scanners.