Newer Clinical Applications Set to Drive European Molecular Imaging Markets, States Frost & Sullivan
Rapid technological advances will highlight the need for skilled technicians and physicians
LONDON, Jan. 9, 2013 /PRNewswire/ -- In addition to oncology and cardiology, the next big field of clinical application for molecular imaging will be neurology. This expanding user base is expected to boost revenues for the European molecular imaging market.
New analysis from Frost & Sullivan (http://www.healthcare.frost.com), European Molecular Imaging Markets, finds that the markets earned revenues of $276.0 million in 2011 and estimates this to reach $388.4 million in 2018. The research covers positron emission tomography (PET), single photon emission computed tomography (SPECT) and planar segments.
"The discovery of novel radiotracers is expanding the use of molecular imaging diagnostics to newer clinical applications," notes Frost & Sullivan Research Analyst Kaavya Karunanithi. "In addition to the traditional fields of oncology and cardiology, neurology as well as infectious and inflammatory disease segments are increasingly leveraging molecular imaging techniques with radiotracers, thus widening the application base."
Market penetration is also being fuelled by the heightened prevalence and awareness of cancer. Procedural volumes of various cancer screening modalities, including PET and PET/CT, are rising. Furthermore, the ability to facilitate personalised treatment is motivating the use of molecular imaging technologies.
Technological innovations too continue to drive growth in the molecular imaging markets. For instance, hybrids such as the recently introduced PET/MRI offer higher specificities than currently available PET/CT.
"In the long run, optical modalities and tri-modality systems, with the ability to cater to a wider clinical application portfolio, will dominate," adds Kaavya. "Such technically advanced offerings boost market prospects, even while addressing the demand for personalised medicine."
With rapid advancements in technology, there is an urgent need for skilled technicians and physicians to effectively acquire and interpret images. This is an important challenge, which needs to be addressed.
"Market participants must stay abreast of the high degree of technological change," advises Kaavya. "They will need to provide innovative, accurate and reliable solutions that facilitate personalised medical care."
If you are interested in more information on this study, please send an email with your contact details to Anna Zanchi, Corporate Communications, at [email protected]
European Molecular Imaging Markets is part of the Advanced Medical Technologies Growth Partnership Service programme, which also includes research in the following markets: European Market for Computed Tomography, Global Trends in Medical Imaging–Cardiology Applications, and European Mobile Imaging Services Market. All research included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
Contact
Anna Zanchi
Corporate Communications – Europe
P: 0039 02 46514819
E: [email protected]
SOURCE Frost & Sullivan
Share this article