PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1401124
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1401124
Europe Nuclear Medicine Market, By Type (Diagnostic, Therapeutic); By Application (Diagnostic, Therapeutic); By Procedural Volumes (Diagnostic, Therapeutic); By Country, Trend Analysis, Competitive Landscape & Forecast, 2019-2029
Europe Nuclear Medicine Market Size almost Doubles at Robust CAGR of 12.03% during 2023-2029, to Reach USD 3.46 Billion by 2029
Europe Nuclear Medicine Market is flourishing because of an increasing demand for minimally invasive procedures for the treatment and management of the rising prevalence of chronic diseases.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Europe Nuclear Medicine Market size at USD 1.75 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Europe Nuclear Medicine Market size to grow at a robust CAGR of 12.03% reaching a value of USD 3.46 billion by 2029. Major growth drivers for the Europe Nuclear Medicine Market include the growing prevalence of cancer and cardiac diseases and increasing applications of SPECT and PET. The surge in the prevalence of cardiac ailments and cancer stands as the pivotal driver for the demand within the European nuclear medicine market. According to the British Heart Foundation England Factsheet from August 2022, approximately 7.6 million individuals in the United Kingdom are living with heart or circulatory diseases. This source further projects that over half of the population in the United Kingdom will experience a heart or circulatory condition in their lifetime. Notably, the prevalence of heart and circulatory diseases surpasses that of cancer and Alzheimer's disease combined, with an estimated 48,000 individuals under the age of 75 years succumbing to heart and circulatory diseases annually. Consequently, the escalating burden of cardiovascular diseases is expected to boost the market demand for nuclear medicine, particularly in diagnosing, assessing, and evaluating coronary artery diseases, cardiomyopathy, and potential heart damage from chemotherapy or radiotherapy, thereby fostering market growth. Also, Macmillan Cancer Support's October 2022 data reveals 3 million people with cancer in the UK, expected to rise to 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. This rising cancer prevalence is expected to boost the demand for nuclear medicine, aiding tumor detection and treatment, fostering market growth. However, high cost of nuclear medicine equipment and services and reimbursement challenges are anticipated to restrain the overall market growth during the forecast period.
Opportunity - Increasing Adoption of Nuclear Medicine across Europe
The expansion of nuclear medicine services into rural areas presents a significant opportunity for the growth of the Europe Nuclear Medicine Market. By extending the reach of nuclear medicine facilities to less urbanized regions, there is the potential to enhance accessibility to advanced diagnostic and therapeutic services, addressing healthcare disparities and contributing to early disease detection and treatment in rural populations. This increased availability of nuclear medicine technologies in rural areas aligns with the broader goal of improving healthcare infrastructure and outcomes across Europe, fostering a positive market outlook in the region.
Impact of COVID-19 on Europe Nuclear Medicine Market
COVID-19 pandemic had a positive impact on the Europe Nuclear Medicine Market. Specifically, individuals experiencing cardiovascular issues were severely affected by Corona virus, leading to an increased demand for nuclear medicine, renowned for its efficacy in identifying specific illnesses. The utilization of nuclear medicines has expanded as the need for precise diagnoses grew alongside the rising number of positive cases. Given the virus's detrimental effects on the respiratory system, nuclear medications have proven valuable for both treating and diagnosing respiratory system disorders. Consequently, the pandemic has served as a catalyst, fostering the adoption and application of nuclear medicine to address the unique healthcare challenges posed by COVID-19 pandemic.
Europe Nuclear Medicine Market - By Application
Based on application, the Europe Nuclear Medicine Market is split into Diagnostic and Therapeutic segments. The diagnostic segment holds a higher share in the Europe Nuclear Medicine Market by application. The diagnostic segment is sub-divided into SPECT and PET. The PET subsegment holds a higher share in the Europe Nuclear Medicine Market by diagnostic segment. The PET subsegment includes Oncology, Cardiology, and Neurology. The oncology segment dominates the Europe Nuclear Medicine Market. It is driven by a surge in cancer prevalence and increased applications of SPECT/PET. The rising demand for radioisotopes, especially for research, is evident in the estimated 1,269,200 people affected by cancer in Europe in 2022. Initiatives like CERN-MEDICIS and studies on pancreatic cancer treatments using radioisotopes showcase promising therapeutic options. Additionally, heightened funding and initiatives for cancer treatment, including the European Union's substantial investment of EUR 4 billion, are expected to boost nuclear medicine adoption, fostering market growth in addressing the increasing cancer burden in Europe.
Europe Nuclear Medicine Market - By Country
Geographically, the Europe Nuclear Medicine Market covers major regional countries including Germany, United Kingdom, Italy, France, Spain, Belgium, Russia, the Netherlands, and Rest of Europe. Germany is expected to hold the highest share in the Europe Nuclear Medicine Market during the forecast period, due to the escalating incidence of cancer and cardiovascular diseases, coupled with a growing geriatric population. Notably, colorectal cancer ranks as the third most common cancer in Germany, prompting recommendations for screening starting at ages 45 or 50 for those at average risk. Demographic aging is identified as a crucial factor in colorectal cancer development. Also, cardiovascular diseases, encompassing high blood pressure, atherosclerosis, cardiac arrhythmias, heart diseases, and heart attacks, particularly impact the elderly, representing the leading cause of death in Germany. These factors collectively contribute to the anticipated growth of the nuclear medicine market in Germany.
Competitive Landscape
Major players operating in the Europe Nuclear Medicine Market include Siemens Healthineers, GE Healthcare, Philips Healthcare, Curium, Bracco Imaging, Advanced Accelerator Applications, IBA Molecular Imaging, Eckert & Ziegler, Lantheus Medical Imaging, and NTP Radioisotopes SOC Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Europe Nuclear Medicine Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Europe Nuclear Medicine Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Technology Overview
- 1.3. Market Segmentation
2. Executive Summary
3. Europe Nuclear Medicine Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Increasing prevalence of chronic diseases
- 3.2.1.2. Growing demand for minimally invasive procedures
- 3.2.2. Restraints
- 3.2.2.1. High cost of nuclear medicine equipment and services
- 3.2.2.2. Reimbursement challenges
- 3.2.3. Opportunities
- 3.2.3.1. Increasing demand for nuclear medicine services in rural areas
- 3.2.4. Challenges
- 3.2.4.1. Regulatory challenges
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. Europe Nuclear Medicine Market Overview
- 4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share and Forecast
- 4.2.1. By Type
- 4.2.1.1. Diagnostic
- 4.2.1.1.1. SPECT Radiopharmaceuticals
- 4.2.1.1.1.1. Tc-99
- 4.2.1.1.1.2. Tl-201
- 4.2.1.1.1.3. Ga-67
- 4.2.1.1.1.4. I-123
- 4.2.1.1.1.5. Others
- 4.2.1.1.2. PET Radiopharmaceuticals
- 4.2.1.1.2.1. F-18
- 4.2.1.1.2.2. Ru-82
- 4.2.1.1.2.3. Others
- 4.2.1.2. Therapeutic
- 4.2.1.2.1. Beta Emitters
- 4.2.1.2.1.1. I-131
- 4.2.1.2.1.2. Sm-153
- 4.2.1.2.1.3. Rh-186
- 4.2.1.2.1.4. Y-90
- 4.2.1.2.1.5. Lu-177
- 4.2.1.2.1.6. Others
- 4.2.1.2.2. Alpha Emitters
- 4.2.1.2.2.1. Ra-223
- 4.2.1.2.2.2. Brachytherapy
- 4.2.1.2.2.3. I-125
- 4.2.1.2.2.4. Ir-192
- 4.2.1.2.2.5. Pa-103
- 4.2.1.2.2.6. Cs-131
- 4.2.1.2.2.7. Others
- 4.2.2. By Application
- 4.2.2.1. Diagnostic
- 4.2.2.1.1. SPECT
- 4.2.2.1.1.1. Cardiology
- 4.2.2.1.1.2. Lymphoma
- 4.2.2.1.1.3. Thyroid
- 4.2.2.1.1.4. Neurology
- 4.2.2.1.1.5. Others
- 4.2.2.1.2. PET
- 4.2.2.1.2.1. Oncology
- 4.2.2.1.2.2. Cardiology
- 4.2.2.1.2.3. Neurology
- 4.2.2.1.2.4. Others
- 4.2.2.2. Therapeutic
- 4.2.2.2.1. Thyroid
- 4.2.2.2.2. Bone Metastasis
- 4.2.2.2.3. Lymphoma
- 4.2.2.2.4. Endocrine Tumors
- 4.2.2.2.5. Others
- 4.2.3. By Procedural Volumes
- 4.2.3.1. Diagnostic
- 4.2.3.1.1. SPECT Radiopharmaceuticals
- 4.2.3.1.2. PET Radiopharmaceuticals
- 4.2.3.2. Therapeutic
- 4.2.3.2.1. Beta Emitters
- 4.2.3.2.2. Alpha Emitters
- 4.2.3.2.3. Brachytherapy
- 4.2.4. By Country
- 4.2.4.1. Germany
- 4.2.4.2. United Kingdom
- 4.2.4.3. Italy
- 4.2.4.4. France
- 4.2.4.5. Spain
- 4.2.4.6. Belgium
- 4.2.4.7. Russia
- 4.2.4.8. Netherlands
- 4.2.4.9. Rest of Europe
- 4.2.1. By Type
5. Germany Nuclear Medicine Market Overview
- 5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Type
- 5.2.2. By Application
- 5.2.3. By Procedural Volumes
6. United Kingdom Nuclear Medicine Market Overview
- 6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Application
- 6.2.3. By Procedural Volumes
7. Italy Nuclear Medicine Market Overview
- 7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Application
- 7.2.3. By Procedural Volumes
8. France Nuclear Medicine Market Overview
- 8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Application
- 8.2.3. By Procedural Volumes
9. Spain Nuclear Medicine Market Overview
- 9.1. Market Size & Forecast, 2019-2029
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Application
- 9.2.3. By Procedural Volumes
10. Belgium Nuclear Medicine Market Overview
- 10.1. Market Size & Forecast, 2019-2029
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Application
- 10.2.3. By Procedural Volumes
11. Russia Nuclear Medicine Market Overview
- 11.1. Market Size & Forecast, 2019-2029
- 11.1.1. By Value (USD Million)
- 11.2. Market Share & Forecast
- 11.2.1. By Type
- 11.2.2. By Application
- 11.2.3. By Procedural Volumes
12. Netherlands Nuclear Medicine Market Overview
- 12.1. Market Size & Forecast, 2019-2029
- 12.1.1. By Value (USD Million)
- 12.2. Market Share & Forecast
- 12.2.1. By Type
- 12.2.2. By Application
- 12.2.3. By Procedural Volumes
13. Rest of Europe Nuclear Medicine Market Overview
- 13.1. Market Size & Forecast, 2019-2029
- 13.1.1. By Value (USD Million)
- 13.2. Market Share & Forecast
- 13.2.1. By Type
- 13.2.2. By Application
- 13.2.3. By Procedural Volumes
14. Competitive Landscape
- 14.1. List of Key Players and Their Offerings
- 14.2. Europe Nuclear Medicine Market Share Analysis, 2022
- 14.3. Competitive Benchmarking, By Operating Parameters
- 14.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
15. Impact of Covid-19 on Europe Nuclear Medicine Market
16. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 16.1. Siemens Healthineers
- 16.2. GE Healthcare
- 16.3. Philips Healthcare
- 16.4. Curium
- 16.5. Bracco Imaging
- 16.6. Advanced Accelerator Applications
- 16.7. IBA Molecular Imaging
- 16.8. Eckert & Ziegler
- 16.9. Lantheus Medical Imaging
- 16.10. NTP Radioisotopes SOC Ltd
- 16.11. Other Prominent Players
17. Key Strategic Recommendations
18. Research Methodology
- 18.1. Qualitative Research
- 18.1.1. Primary & Secondary Research
- 18.2. Quantitative Research
- 18.3. Market Breakdown & Data Triangulation
- 18.3.1. Secondary Research
- 18.3.2. Primary Research
- 18.4. Breakdown of Primary Research Respondents, By Region
- 18.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
- Figure 1 Europe Nuclear Medicine Segmentation
- Figure 2 Europe Nuclear Medicine Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Europe Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Figure 5 Europe Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Figure 6 Europe Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Figure 7 Europe Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Figure 8 Germany Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Figure 9 Germany Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Figure 10 Germany Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Figure 11 Germany Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Figure 12 United Kingdom Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Figure 13 United Kingdom Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Figure 14 United Kingdom Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Figure 15 United Kingdom Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Figure 16 Italy Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Figure 17 Italy Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Figure 18 Italy Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Figure 19 Italy Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Figure 20 France Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Figure 21 France Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Figure 22 France Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Figure 23 France Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Figure 24 Spain Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Figure 25 Spain Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Figure 26 Spain Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Figure 27 Spain Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Figure 28 Belgium Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Figure 29 Belgium Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Figure 30 Belgium Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Figure 31 Belgium Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Figure 32 Russia Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Figure 33 Russia Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Figure 34 Russia Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Figure 35 Russia Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Figure 36 The Netherlands Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Figure 37 The Netherlands Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Figure 38 The Netherlands Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Figure 39 The Netherlands Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Figure 40 Rest of Europe Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Figure 41 Rest of Europe Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Figure 42 Rest of Europe Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Figure 43 Rest of Europe Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
List of Tables
- Table 1 Europe Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Table 2 Europe Nuclear Medicine Market Size, By Type, By Value, 2019-2029
- Table 3 Europe Nuclear Medicine Market Size, By Application, By Value, 2019-2029
- Table 4 Europe Nuclear Medicine Market Size, By Procedural Volumes, By Value, 2019-2029
- Table 5 Germany Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Table 6 Germany Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Table 7 Germany Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Table 8 Germany Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Table 9 United Kingdom Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Table 10 United Kingdom Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Table 11 United Kingdom Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Table 12 United Kingdom Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Table 13 Italy Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Table 14 Italy Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Table 15 Italy Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Table 16 Italy Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Table 17 France Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Table 18 France Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Table 19 France Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Table 20 France Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Table 21 Spain Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Table 22 Spain Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Table 23 Spain Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Table 24 Spain Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Table 25 Belgium Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Table 26 Belgium Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Table 27 Belgium Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Table 28 Belgium Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Table 29 Russia Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Table 30 Russia Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Table 31 Russia Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Table 32 Russia Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Table 33 The Netherlands Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Table 34 The Netherlands Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Table 35 The Netherlands Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Table 36 The Netherlands Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Table 37 Rest of Europe Nuclear Medicine Market Size, By Value (USD Million), 2019-2029
- Table 38 Rest of Europe Nuclear Medicine Market Share, By Type, By Value, 2019-2029
- Table 39 Rest of Europe Nuclear Medicine Market Share, By Application, By Value, 2019-2029
- Table 40 Rest of Europe Nuclear Medicine Market Share, By Procedural Volumes, By Value, 2019-2029
- Table 41 Siemens Healthineers Company Overview
- Table 42 Siemens Healthineers Financial Overview
- Table 43 GE Healthcare Company Overview
- Table 44 GE Healthcare Financial Overview
- Table 45 Philips Healthcare Company Overview
- Table 46 Philips Healthcare Financial Overview
- Table 47 Curium Company Overview
- Table 48 Curium Financial Overview
- Table 49 Bracco Imaging Company Overview
- Table 50 Bracco Imaging Financial Overview
- Table 51 Advanced Accelerator Applications Company Overview
- Table 52 Advanced Accelerator Applications Financial Overview
- Table 53 IBA Molecular Imaging Company Overview
- Table 54 IBA Molecular Imaging Financial Overview
- Table 55 Eckert & Ziegler Company Overview
- Table 56 Eckert & Ziegler Financial Overview
- Table 57 Lantheus Medical Imaging Company Overview
- Table 58 Lantheus Medical Imaging Financial Overview
- Table 59 NTP Radioisotopes SOC Ltd Company Overview
- Table 60 NTP Radioisotopes SOC Ltd Financial Overview
- Table 61 Other Prominent Players Company Overview
- Table 62 Other Prominent Players Financial Overview
