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Development of Application-specific Offerings for Varied Modalities to Spur Growth in the European Contrast Media Markets - Frost & Sullivan finds that the European Contrast Media Markets earned revenues of $1.37 billion in 2006 and estimates this to reach $2.23 billion in 2013
Development of Application-specific Offerings for Varied Modalities to Spur Growth in the European Contrast Media Markets

 

PRZOOM - /newswire/ - London, United Kingdom, 2007/07/25 - Frost & Sullivan finds that the European Contrast Media Markets earned revenues of $1.37 billion in 2006 and estimates this to reach $2.23 billion in 2013.

   
 
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Despite challenges such as reimbursement policies, pricing, saturation and high levels of competition, the European contrast media markets are experiencing steady growth. Product innovation, together with the introduction of novel, application-specific contrast media is boosting market expansion.

Frost & Sullivan (medicalimaging.frost.com) finds that the European Contrast Media Markets earned revenues of $1.37 billion in 2006 and estimates this to reach $2.23 billion in 2013.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the European Contrast Media Markets then send an email to Radhika Menon Theodore- Corporate Communications at rmtheodore[.]frost.com with the following information: your full name, company name, title, telephone number, email address, city, state, and country. We will send you the information via email upon receipt of the above information.

“Newer contrast media being developed for specific applications are displaying improved results and supporting consistent market growth,” says Frost & Sullivan Research Analyst Ranjit Ravindranathan. “The rising number of procedures that require contrast media is directly contributing to an increase in the number of modality installations and promoting market expansion.”

The European contrast media markets are demonstrating considerable potential, with all segments at varied stages of the growth curve. For instance, saturation in the X-ay/CT segment is being offset by strong growth in the MRI segment due to its enhanced applications, including in cardiology.

However, saturation in certain segments such as X-ray contrast is hampering overall market expansion. Another challenge is to widen customer bases by developing innovative, application-specific products.

“Due to market maturity, the lack of, or low reimbursement rates, have an even greater effect,” adds Mr. Ravindranathan. “Rising procedural costs, including the purchase of new technology with specific contrasts might prove to be a constraint initially, however, in the long-term, transition and adoption will be inevitable.”

To penetrate local markets, participants should acquire or establish strategic alliances with smaller firms. Companies should also introduce innovative products to encourage regular purchases by end users. Furthermore, market participants should train and educate radiologists about the availability and effectiveness of new contrast media technologies using radioactive contrasts.

European Contrast Media Markets is part of the Medical Imaging Subscription, which also includes research in the following markets: Eastern European PACS Market, European markets for key medical imaging modalities, European C-Arms Markets, European Cardiology PACS Markets and Medical Imaging Markets in Cardiology. 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.

About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.

 
 
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Development of Application-specific Offerings for Varied Modalities to Spur Growth in the European Contrast Media Markets

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