Europe Nuclear Medicine Imaging Agents Market was valued at USD 1.50 Billion in 2022 and is projected to reach USD 2.30 Billion by 2030, growing at a CAGR of 6.1% from 2024 to 2030.
The European nuclear medicine imaging agents market is experiencing significant growth, driven by technological advancements and an increasing prevalence of chronic diseases. In 2023, the market generated a revenue of approximately USD 2.72 billion and is projected to reach USD 5.79 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.4% during the forecast period. citeturn0search2
One of the primary factors contributing to this growth is the rising incidence of cancer and cardiovascular diseases across Europe. For instance, in the United Kingdom, approximately 7.6 million individuals are living with heart or circulatory diseases, with projections indicating that over half of the population will experience such conditions in their lifetime. citeturn0search1 This escalating burden underscores the need for advanced diagnostic tools, thereby propelling the demand for nuclear medicine imaging agents.
In response to this demand, major pharmaceutical companies are investing heavily in the development and production of radiopharmaceuticals. Sanofi, for example, acquired a $300 million stake in OranoMed to develop new radiopharmaceutical cancer treatments, positioning itself alongside competitors like Novartis and AstraZeneca in this emerging sector. citeturn0news27 Similarly, Eli Lilly entered the nuclear isotope production sector by investing $10 million in Ionetix, aiming to support advancements in cancer treatment through the production of scarce isotopes like actinium-225. citeturn0news32
Despite these advancements, the industry faces challenges, particularly concerning the supply of essential isotopes. A recent example is the temporary shutdown of a nuclear reactor in the Netherlands due to a minor deformity in a cooling pipe, which led to a significant shortage of molybdenum-99—a crucial radioisotope used in medical imaging. This disruption resulted in the cancellation of thousands of medical appointments, highlighting the fragility of the current supply chain. citeturn0news25
To mitigate such risks, there is a pressing need for infrastructure modernization and the development of new production facilities. Efforts are underway to establish new reactors and production methods to meet the increasing global demand for medical radioisotopes. citeturn0news25
In terms of industry requirements, there is a growing emphasis on ensuring a reliable supply chain for isotopes, investing in research and development for new imaging agents, and adhering to stringent regulatory standards to ensure patient safety. Companies are also focusing on collaborations and partnerships to enhance their production capabilities and expand their market presence.
Drawing a parallel, the 100 Gigabit Fiber Optic Transceiver Market has also witnessed significant growth, driven by the expansion of data centers and the increasing demand for high-speed data transmission. In 2024, the global market size was valued at USD 2.34 billion and is projected to reach USD 4.56 billion by 2030, at a CAGR of 11.8%. citeturn0search0 This growth trajectory underscores the critical importance of technological advancements and infrastructure development in meeting industry demands.
In conclusion, the European nuclear medicine imaging agents market is poised for substantial growth, driven by the increasing prevalence of chronic diseases and technological advancements. However, addressing challenges related to isotope supply and infrastructure is crucial to fully realizing the market's potential. Industry stakeholders must collaborate to ensure a stable supply chain, invest in innovative research, and adhere to regulatory standards to meet the evolving needs of healthcare providers and patients alike.
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GE HealthCare
Bracco Diagnostic
Guerbet
Mallinckrodt
Lantheus
Yantai Dongcheng
Foshan Rui Diao Pharmaceutical
Cardinal Health
Blue Earth Diagnostics
Bayer AG
Abx Advanced Biochemical
Eli Lilly and Company
Jubilant Pharma Limited
Navidea
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Nuclear Medicine Imaging Agents Market
Single Photon Emission Computed Tomography (SPECT) Agents
Positron Emission Tomography (PET) Agents
Theranostic Agents
Oncology
Cardiology
Neurology
Orthopedics
Pediatric Applications
Radiopharmaceuticals
Contrast Agents
Biological Agents
Intravenous (IV) Administration
Oral Administration
Intramuscular Administration
Hospitals
Diagnostic Imaging Centers
Research Institutions
Pharmaceutical Companies
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Nuclear Medicine Imaging Agents Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Nuclear Medicine Imaging Agents Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Nuclear Medicine Imaging Agents Market, By Type
6. Europe Nuclear Medicine Imaging Agents Market, By Application
7. Europe Nuclear Medicine Imaging Agents Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Nuclear Medicine Imaging Agents Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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