Report: Molecular imaging device market to reach $6.6B by 2014

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There is a 5.8 percent yearly increase in the market for molecular imaging devices and the market is expected to reach $6.6 billion by 2014, according to a market research report from Kalorama Information.

The adoption of molecular imaging equipment is not exclusive to physicians, according to Kalorama. Pharmaceutical and biotechnology companies are also utilizing molecular imaging equipment, as it allows them to test drug candidates in vivo for mechanisms, disposition and efficacy. The big players, such as Siemens, GE Healthcare, Phillips, and Toshiba are teaming up with contrast media companies to develop the next generation of molecular imaging equipment, said Kalorama.

The cost-savings associated with early disease detection and clinicians’ demand for better, more accurate diagnostic tools are key drivers for a predicted 5.8 percent yearly increase in the market for molecular imaging devices, according to the report.

Molecular imaging devices differ from traditional diagnostic tools and use biomarkers, and the devices include PET and SPECT, which both render functional and metabolic information. Kalorama notes that combining new molecular contrast agents with traditional diagnostic tools, such us ultrasound, MRI and CT has enabled physicians to capture specific molecular pathways to track the progress of treatment.