This application has failed to start because MSVCR80.dll was not found. Re-installing the application may fix this problem.

After using iTunes fine earlier in the day - when trying to re-open the application the following error message has appeared:

This application has failed to start because MSVCR80.dll was not found. Re-installing the application may fix this problem.

iTunes was not installed correctly. Please re-install iTunes. Error 7 (Windows error 126)

I'm not able to open iTunes and trying to re-download it doesn't seem to work - any suggestions!?!