Neurology is expected to be a key growth field for molecular imaging in Europe. Other promising clinical application fields in the region are oncology and cardiology.
“This expanding user base is expected to boost [revenue] for the European molecular imaging market,” according to a recent statement from Frost & Sullivan. “New analysis … finds that the markets earned revenues of $276.0 million in 2011 and estimates this to reach $388.4 million in 2018.”
Topics covered include planar segments, positron emission tomography (PET), and single photon emission computed tomography (SPECT).
“The discovery of novel radiotracers is expanding the use of molecular imaging diagnostics to newer clinical applications,” Frost & Sullivan analyst Kaavya Karunanithi added in a statement by the analysis firm. “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.”
Increased awareness of cancer is also affecting the market, the report said. Cancer screening, including PET and PET/CT, are increasing as well.
“Technological innovations too continue to drive growth in the molecular imaging markets,” Frost & Sullivan reported. “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,” Kaavya said in the report. “Such technically advanced offerings boost market prospects, even while addressing the demand for personalized medicine.”
As these advancements are made in related technology, more skilled technicians and physicians are needed to take and interpret medical images.
“Market participants must stay abreast of the high degree of technological change,” Kaavya explained. “They will need to provide innovative, accurate and reliable solutions that facilitate personalized medical care.”
In a related report by Frost & Sullivan, the medical imaging market between 2011 and 2015 will see increased incidents of diseases and more awareness about health, and “will boost demand for medical imaging services across Central and Eastern Europe (CEE).”
“However, the installed base of imaging devices in the region is insufficient, especially in the high-end segment, such as magnetic resonance imaging (MRI), computed tomography (CT) and positron emission tomography (PET). At the same time, a large proportion of lower-end imaging modalities is obsolete and requires replacement. The availability of EU funds and governmental financial support, as well as the increasing importance of private healthcare, are set to help overcome this challenge,” Frost & Sullivan said.