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European Molecular Imaging Markets Bolstered by Hybrid Technology - Despite numerous challenges such as low reimbursement rates, pricing pressures and high levels of competition, the European molecular imaging markets continue to expand
European Molecular Imaging Markets Bolstered by Hybrid Technology

 

NewswireToday - /newswire/ - London, United Kingdom, 2008/03/11 - Despite numerous challenges such as low reimbursement rates, pricing pressures and high levels of competition, the European molecular imaging markets continue to expand.

   
 
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Constant innovation and the regular introduction of new products with hybrid technology will be critical to sustaining further market growth.

New analysis from Frost & Sullivan (medicalimaging.frost.com), European Molecular Imaging Markets, finds that the market earned revenues of $ 201.1 million in 2007 and estimates this to reach $287.5 million in 2014.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the analysis of the European Molecular Imaging Markets, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

"The development of innovative methods of molecular imaging for specific applications is resulting in better results, supporting steady market growth," notes Frost & Sullivan Research Analyst Ranjit Ravindranathan. "The consistent expansion of positron emission tomography (PET), PET computed tomography (PETCT) and single photon emission computed tomography (SPECT) modality installations are directly promoting market growth due to their ability to support an increase in procedures for oncology and other applications."

The market offers considerable potential for growth, with all segments showing differences in their growth curve. This is due to the high costs associated with modality purchases. Also, these scans require cyclotrons at close proximity for the production of radio nucleotides that have a very short shelf life. Moreover, saturation in some segments, including PET, is due to other segments offering enhanced applications based on the availability of hybrid systems.

Pricing pressures are however a significant market challenge. European healthcare and regulatory issues coupled with reimbursement restrictions governing these scans also hinder market expansion.

"Since the market is in its growth phase, low reimbursement rates coupled with high modality prices have a greater impact on market prospects," cautions Ravindranathan. "Increasing procedural costs, including the purchase of new technology with specific features, might prove to be a constraint initially but, in the long term, transition and adoption will be inevitable."

Industry participants should innovate and introduce technology that would support a reduction in scan timings as well as minimise the use of radioisotopes. A focus on innovative products with value-added features would enable companies to expand their end-user base. Industry participants should also train and educate radiologists to use new technologies, through the deployment of hybrid systems.

European Molecular Imaging Markets is part of the Medical Imaging Growth Partnership Services programme, which also includes research in the following markets: European General X rays Market, European Markets for Mobile Imaging services and European markets for Ultrasound. All research 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.

Frost & Sullivan, the Global 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.

European Molecular Imaging Markets M0D2

 
 
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European Molecular Imaging Markets Bolstered by Hybrid Technology

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