Bloomberg Businessweek reported Royal Philips Electronics forecast weakening demand for health-care equipment in Europe next year as deteriorating economies crimp spending on body scanners and heart monitors.
Philips, which competes with General Electric and Siemens in health-equipment markets, is responding to a market decline that withered orders from hospitals in the second and third quarters.
In health care, Philips still expects the global market to show growth of 4% to 5% this year, with a ”low single digit'' expansion in the U.S.