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.
Imaging3 and its Dominion product are well positioned to take full advantage of this growing market. According to the Millennium Research Group: "... portable imaging systems will increase their usefulness and will result in wider use across the medical industry."
"Not only is our Dominion system portable but its uses in the Diagnostic Imaging Market seem endless. This is a huge and growing market and the technological advances that are featured in our Dominion product line will allow us to capture a huge share of our market. Factor in international growth, and we expect to show great returns for our shareholders," stated Dean Janes, Imaging3's CEO.
About Imaging3
Imaging3, Inc., founded in 1993, is a leading provider of advanced technology medical imaging devices. The Company has developed a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time. Because these 3-D images are instantly constructed in real-time, they can be used for any current or new medical procedures in which multiple frames of reference are required to perform medical procedures on or in the human body. Visit the company's website at www.imaging3.com
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