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Product Development is the Way Forward in the European Radiopharmaceuticals Market - New analysis from Frost & Sullivan, European Radio-pharmaceuticals Market, finds that the market earned revenues of $580.8 million in 2007
Product Development is the Way Forward in the European Radiopharmaceuticals Market

 

NewswireToday - /newswire/ - London, United Kingdom, 2007/12/12 - New analysis from Frost & Sullivan, European Radio-pharmaceuticals Market, finds that the market earned revenues of $580.8 million in 2007.

   
 
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A spate of installations of positron emission tomography (PET) and PET/computed tomography (CT) diagnostic scanners has given a new lease of life to the mature, but far from saturated European radiopharmaceuticals market. These installations have not only revived the fortunes of the market, but also boosted the sales of 2-Deoxy-2-[18F] fluoro-D-Glucose (FDG), since a single installation of a PET or a PET/CT scanner can initiate multiple FDG sales.

New analysis from Frost & Sullivan (medicalimaging.frost.com), European Radiopharmaceuticals Market, finds that the market earned revenues of $580.8 million in 2007.

If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the European Radiopharmaceuticals Market, then send an email to Radhika Menon Theodore, Corporate Communications, at rmtheodore[.]frost.com, with your full name, company name, title, telephone number, fax number and email address. Upon receipt of the above information, an overview will be sent to you by email.

The rising number of PET and PET/CT scanner installations will increase the number of procedures and thereby, boost market revenue. New products that are customised for specific indications also help revive the market. Product and application development will not only expand the scope of market penetration but also avert price wars by helping the market lose its "generic" tag.

"Smaller participants should concentrate on developing radiopharmaceuticals for new application areas through joint ventures with larger companies," says Frost & Sullivan Research Analyst Divya B. "This way, the bigger participants can contribute part of the money for research and later take up the distribution of the product once it obtains Food and Drug Administration (FDA) approval.

While high competition and lack of product differentiation have made price-based competition imperative in the European radiopharmaceuticals markets, lack of uniform reimbursement across the continent is further compounding participants' woes. Different countries favour reimbursement for different segments of the market. Hence, a prospective investor might find it more profitable to enter the FDG market in the United Kingdom, while in Sweden, there might be more takers for the therapeutics market.

These issues will soon be a thing of the past with the implementation of stringent market regulations. The European Union Council can reduce market complexity by harmonising individual country laws.

"Similarly, market participants could lobby for standardization of quality control measures across countries," notes Divya. "The professional organisation representing nuclear medicine physicians in Europe, European Association of Nuclear Medicine (EANM), could also be used to establish research studies and as an ally to governmental lobbying."

European Radiopharmaceuticals Market is part of the Medical Imaging Growth Partnership Service programme, which also includes research in the following markets: European Markets for Molecular Imaging, European Markets for Computer Aided Detection, European Market for 3D Imaging Systems. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

 
 
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Product Development is the Way Forward in the European Radiopharmaceuticals Market

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Publisher Contact: Radhika Menon Theodore 
rmtheodore[.]frost.com
 
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