The market for contrast media in Europe should see a growth from its current levels of $684 million (U.S.) to $915 million by 2008, according to San Jose, CA international market research firm Frost & Sullivan. The study, released this month, states that medical institutions are ramping up imaging equipment installations, necessitating consumption in radiological examinations which will continue to require the use of contrast media for imaging.
The firm believes that a growing number of advanced and faster imaging equipment installations will augment patient throughput and the number of procedures that can be carried out. Thus, the use of compatible contrast media for imaging procedures will become essential to enhance imaging productivity and accuracy.
The company’s analysis indicates that MRI will be the major force accelerating momentum in market growth. In addition to the growth of MR contrast agents, ultrasound applications will be encroaching on the CT and x-ray sector’s turf, reducing its market share to 60.7% of total European contrast media sales in 2008.
However, deepening maturity as well as the price-sensitive nature of the market, compounded by price erosion and the saturation of the x-ray segment, is cited as growth-curtailing aspects. The report, priced at €5,000 ($4,889) is available now.
By AuntMinnie.com staff writersOctober 8, 2002
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