e-Procurement of Medical Equipment and Supplies in the United States to Exceed $27 Billion by 2004 According to a New e-Med Market Study by Millennium Research Group

BOSTON--(BW HealthWire)--July 5, 2000--The purchase of medical equipment and supplies over the Internet is still in its infancy, representing less than 1% of the overall medical supply and device market.

However, by 2004 online procurement of medical products is expected to reach $27.3 billion, growing annually by over 200%, according to new forecasts by Millennium Research Group (MRG).

MRG's new study "Online Opportunities in the Medical Products Marketplace'' provides full market coverage of the rapidly expanding online market for medical equipment and supplies. The study indicates that B2B verticals creating online "one-stop-shopping'' networks that bring together buyers and sellers of medical equipment and supplies will have a strong presence in the highly competitive medical marketplace.

"Inefficiencies in current supply chain management equate to a waste of $11 billion per year,'' explains Aaron Dickson, an Internet Analyst at MRG. "Online procurement of medical equipment and supplies will definitely help to eliminate these inefficiencies.''

This market study is the latest feature in MRG's "e-Med Subscription Service'', introduced last month, dedicated to providing competitive intelligence on e-commerce in the medical equipment and supply marketplace. Market studies are updated quarterly and provide market data, plus in-depth analysis of major market issues and players. Market studies leverage MRG's expertise in medical e-commerce, corporate strategy and market research to provide guidance on how markets are developing, and forecast the impacts of such developments on major players.

The "e-Med Subscription Service'' includes three research streams comprising of Market Studies, Hospital Surveys and Player Strategies, totaling twelve comprehensive studies published over twelve months. Studies are updated quarterly, keeping subscribers fully aware of the latest developments in this dynamic and rapidly growing market.

Millennium Research Group (www.mrg.net) is the global authority on B2B e-health and a leading provider of healthcare market research and consulting. MRG offers accurate and independent industry data and insightful analysis, providing sustained competitive advantage for its clients.