Frost: New Technology to Spur Euro Nuclear Medical Imaging Markets
May 23, 2006
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The introduction of new technologies is set to revitalize the increasingly mature European nuclear medical imaging markets.
According to Frost & Sullivan, innovative and enhanced imaging techniques, such as single photon emission computed tomography (SPECT), will energize the saturated gamma camera segment.
Moreover, positron emission tomography-computed tomography (PET-CT) scanners will rapidly replace existing PET systems, resulting in revenue attenuation.
Recent analysis from Frost & Sullivan found the European nuclear medicine imaging systems markets earned revenues of $155.7M in 2005, with estimates to reach $138.9M by 2010.
"Increased attention toward molecular imaging will be one of the key drivers for the nuclear medicine market," said Frost & Sullivan industry analyst Srividya Badrinarayanan. "As R&D focus shifts toward molecular imaging, the advancements in, and the presence of, imaging modalities for nuclear imaging would be very essential for its growth."
Molecular imaging is now considered the technology of the future as it provides detailed information about diseases and methods to treat them. This will promote the uptake of advanced technologies in nuclear medicine imaging.
Analysts said saturation in the gamma market can be overcome only through the introduction of new applications. In the case of the PET scanners market, the availability of its radioisotopes will generate additional interest among end-users.
"Constant technological innovation is one of the key factors for the growth of this market," said Badrinarayanan. "Companies need to continually develop and introduce new technologies, as well as expand clinical applications for the present one - all of which requires increased R&D efforts and a focus on evolving customer preferences."
To sustain their profitability, analysts said market vendors need to design appropriate pricing plans for their systems and create more awareness on the advantages of new technologies and applications. Also, an adequate focus on partnering with radiopharmaceuticals companies will help market participants offer comprehensive solutions to customers.
Source: Frost & Sullivan.