Frost & Sullivan: Newer clinical applications set to drive European Molecular Imaging Markets
Rapid technological advances will highlight the need for skilled technicians and physicians
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 & Sullivanfinds 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.”
Other news from the department business & finance
Most read news
More news from our other portals
Last viewed contents
PSR-Agility Wins Second Consecutive ROAR Award for “Best Orphan Drug CRO” - Continued recognition by industry and non-industry experts as unique partner in Orphan Drug Development
Part of hagfish slime mystery solved
Effects of chemical mixtures: Neurotoxic effects add up - Study demonstrates for the first time the toxicological relevance of chemical mixtures as they occur in humans
Innovative approach to treat autism spectrum disorders - University of Basel spin-off Translation-X receives Venture Kick funding
Shifting meetings, conventions online curbs climate change - The annual carbon footprint for the global event and convention industry is on par with the yearly greenhouse gas emissions of the entire U.S.
Photocure announces positive results of Phase 2B study evaluating Visonac in acne
Dental_porcelain
Rockeby awarded bird flu tests tender from Middle East
Rentschler focuses on biotechnology
How cancer genes become independent - Study sheds light on the mysterious evolution of DNA rings
