Radiopharmaceuticals and Contrast Media: Frost & Sullivan Predicts Market Growth in Europe

Radiopharmaceuticals and Contrast Media: Frost & Sullivan Predicts Market Growth in Europe PR Newswire LONDON, Nov. 7, 2012 -- Although restrained by price sensitivity and reimbursement policies, the European market continues to grow for the foreseeable future LONDON, Nov. 7, 2012 /PRNewswire/ -- In many European countries, the distribution of contrasting agents is mainly through public tenders. Due to these tender systems, the average price of contrasting agents is reducing at the rate of 4% to 9% per annum in some regions. Although the volume of contrasting agents used is increasing, the market is not able to grow at a very high rate, due to price erosion and restricted revenue per procedure. In the case of radiopharmaceuticals, although there is a rise in the relative number of vials being sold, there is not a big difference in the overall revenue generated, due to falling prices. New analysis from Frost & Sullivan, Analysis of the European Radiopharmaceuticals and Contrast Media Market, (www.medicalimaging.frost.com), finds that the market earned revenues of $1.39 billion in 2011 and estimates this to reach $1.69 billion in 2017. The research covers contrast media used with X-ray, CT, MRI. As growth of the contrast media market in X-ray and CT applications has attained maturity, revenue growth is accounted mainly to growth in the MRI contrast and ultrasound contrast segments.