The Europe radioactive tracer market was valued at US$ 4,175.25 million in 2022 and is expected to reach US$ 16,098.93 million by 2030; it is estimated to grow at a CAGR of 18.4% from 2022 to 2030.
Based on test type, the Europe radioactive tracer market is segmented into PET, SPECT, and others. The SPECT segment held the largest market share in 2022.
Based on end user, the Europe radioactive tracer market is segmented into hospitals & clinics, diagnostic centers, academic & research institutes, and others. The hospitals & clinics segment held the largest market share in 2022.
Based on application, the Europe radioactive tracer market is segmented into oncology, pulmonary, neurology, cardiology, and others. The oncology segment held the largest market share in 2022.
Based on country, the Europe radioactive tracer market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe radioactive tracer market share in 2022.
Rotem Industries Ltd, Invicro LLC, Cardinal Health Inc, Newcastle University, ABX advanced biochemical compounds GmbH, Novartis AG, Curium, Blue Earth Diagnostics Limited, General Electric Co, and IBA Radiopharma Solutions are some of the leading companies operating in the Europe radioactive tracer market.
Use of Radioactive Tracer in Cancer Diagnosis fuel the Europe Radioactive Tracer Market
Oncology is a significantly developing field in the healthcare sector, as cancer cases are increasing worldwide. According to Institute for Health Metrics and Evaluation (IHME), cancer is the second major cause of death after cardiovascular disorders. The use of advanced materials and drugs in the diagnosis and treatment of cancer has surged with prominent developments in oncology. Radioactive tracer-based imaging is one of the advanced diagnostic methods used to accurately diagnose cancer types, such as prostate cancer, gynecological cancer, and blood-borne cancer. Once injected into the body, these radioactive tracers attach to the cancer-specific sites, accurately diagnosing the cancer type. Tracer also helps determine the cancer development stage, enabling effective treatment and faster recovery in most cases. PET and SPECT are among the nuclear imaging techniques that use gamma emitters for detecting tumors. As the tumor grows, its uptake of the PET and SPECT conjugate increases over time, which improves contrast due to the presence of nuclear imaging agents. This further leads to blood clearance due to which clear diagnostic images can be generated. The most commonly used radioactive tracer for detecting cancer is F-18 fluorodeoxyglucose (18F-FDG), a compound similar to glucose or sugar. Cancer cells are highly active and need more energy, i.e., extra glucose, than normal cells. Imaging devices such as PET or SPECT detect this energy released by FDG to create an image showing the location of a radioactive tracer in the body. This helps determine the location of cancerous cells in the patient’s body so that the treatment can be tailored according to the type and stage of cancer. Thus, the increasing use of radioactive tracer in cancer diagnostics is anticipated to drive market expansion during the estimated timeframe.Europe Radioactive Tracer Market Overview
The Europe radioactive tracer market is sub-segmented into Germany, France, Italy, the UK, Spain, and the Rest of Europe. The regional market growth is associated with such as rising prevalence of neurologic disorders such as, Alzheimer’s and others along with the developments made by the players operating in the region.Europe Radioactive Tracer Market Revenue and Forecast to 2030 (US$ Million)
Europe Radioactive Tracer Market Segmentation
The Europe radioactive tracer market is segmented based on tracer type, test type, end user, application, and country. Based on tracer type, the Europe radioactive tracer market is segmented into technetium-99m & Tc-97m, iodine-131, iron-59, lutetium-171, rubidium (Rb-82) chloride & ammonia (N-13), scandium-46, seaborgium-269, hassium-269, Gallium citrate Ga 67, Prostate-Specific Membrane Antigen (PSMA) (Ga-68), FDDNP (F-18) & FDOPA (F-18), phosphorus-32 & chromium-51, thallium-201, F-18 FDG, F-18 FAPI, Ga-68 FAPI, F-18 PSMA, DOTATOC/DOTANOC/DOTATATE (Ga-68), and others. The others segment held the largest market share in 2022.Based on test type, the Europe radioactive tracer market is segmented into PET, SPECT, and others. The SPECT segment held the largest market share in 2022.
Based on end user, the Europe radioactive tracer market is segmented into hospitals & clinics, diagnostic centers, academic & research institutes, and others. The hospitals & clinics segment held the largest market share in 2022.
Based on application, the Europe radioactive tracer market is segmented into oncology, pulmonary, neurology, cardiology, and others. The oncology segment held the largest market share in 2022.
Based on country, the Europe radioactive tracer market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe radioactive tracer market share in 2022.
Rotem Industries Ltd, Invicro LLC, Cardinal Health Inc, Newcastle University, ABX advanced biochemical compounds GmbH, Novartis AG, Curium, Blue Earth Diagnostics Limited, General Electric Co, and IBA Radiopharma Solutions are some of the leading companies operating in the Europe radioactive tracer market.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Europe Radioactive Tracer Market - Key Industry Dynamics
5. Radioactive Tracer Market - Europe Market Analysis
6. Europe Radioactive Tracer Market - Revenue and Forecast to 2030 - by Tracer Types
7. Europe Radioactive Tracer Market - Revenue and Forecast to 2030 - by Test Type
8. Europe Radioactive Tracer Market - Revenue and Forecast to 2030 - by Application.
9. Europe Radioactive Tracer Market - Revenue and Forecast to 2030 - by End User
10. Europe Radioactive Tracer Market - Country Analysis
11. Radioactive Tracer Market Industry Landscape
12. Radioactive Tracer Market, Key Company Profiles
13. Appendix
List of Tables
List of Figures
Executive Summary
At 18.4% CAGR, the Europe Radioactive Tracer Market is Speculated to be worth US$ 16,098.93 million by 2030.According to this research,, the Europe radioactive tracer market was valued at US$ 4,175.25 million in 2022 and is expected to reach US$ 16,098.93 million by 2030, registering a CAGR of 18.4% from 2022 to 2030. Rising prevalence of chronic diseases and increasing use of nuclear imaging techniques are the critical factors attributed to the Europe radioactive tracer market expansion.
The European Union Committee has taken various initiatives to boost R&D activities in the field of radioactive tracer and radioisotopes. The Isotope Production and Distribution Program (IPDP) was established within the DOE's Office of Nuclear Energy to enhance the production and marketing of DOE-produced isotopes for research and commercial purposes. The IPDP was established on a condition that its operations were to be financially self-supporting.
PRISMAP is a European medical radionuclide program that was started to provide access to novel radioisotopes of high purity grade for medical research. According to the data provided under this program, out of the ~3,000 different radioisotopes synthesized by scientists in laboratories under European Union, only a handful are used regularly for medical procedures, mostly for imaging. Such a rise in the number of initiatives for boosting the supply of radioactive tracer for research purposes, which is expected to fuel the growth of the radioactive tracer market. Many hospitals and research institutes focus on developing and using different radioactive tracer to diagnose chronic diseases.
On the contrary, short shelf-life of radioactive tracer hurdles the growth of Europe radioactive tracer market.
Based on tracer type, the Europe radioactive tracer market is categorized into technetium-99m & Tc-97m, iodine-131, iron-59, lutetium-171, rubidium (Rb-82) chloride & ammonia (N-13), scandium-46, seaborgium-269, hassium-269, Gallium citrate Ga 67, Prostate-Specific Membrane Antigen (PSMA) (Ga-68), FDDNP (F-18) & FDOPA (F-18), phosphorus-32 & chromium-51, thallium-201, F-18 FDG, F-18 FAPI, Ga-68 FAPI, F-18 PSMA, DOTATOC/DOTANOC/DOTATATE (Ga-68), and others. The others segment held 66.0% market share in 2022, amassing US$ 2,755.25 million. It is projected to garner US$ 10,610.02 million by 2030 to expand at 18.4% CAGR during 2022-2030.
Based on test type, the Europe radioactive tracer market is categorized into PET, SPECT, and others. The SPECT segment held 44.7% share of Europe radioactive tracer market in 2022, amassing US$ 1,866.36 million. It is projected to garner US$ 7,170.37 million by 2030 to expand at 18.3% CAGR during 2022-2030.
Based on end user, the Europe radioactive tracer market is categorized into hospitals & clinics, diagnostic centers, academic & research institutes, and others. The hospitals & clinics segment held 70.0% share of Europe radioactive tracer market in 2022, amassing US$ 2,923.03 million. It is projected to garner US$ 11,260.14 million by 2030 to expand at 18.4% CAGR during 2022-2030.
Based on application, the Europe radioactive tracer market is categorized into oncology, pulmonary, neurology, cardiology, and others. The oncology segment held 62.7% share of Europe radioactive tracer market in 2022, amassing US$ 2,618.67 million. It is projected to garner US$ 9,828.90 million by 2030 to expand at 18.0% CAGR during 2022-2030.
Based on country, the Europe radioactive tracer market has been categorized into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 30.2% share of Europe radioactive tracer market in 2022. It was assessed at US$ 1,261.34 million in 2022 and is likely to hit US$ 4,850.61 million by 2030, exhibiting a CAGR of 18.3% during 2022-2030.
Key players operating in the Europe radioactive tracer market are Rotem Industries Ltd, ABX advanced biochemical compounds GmbH, Invicro LLC, Cardinal Health Inc, Newcastle University, Novartis AG, Curium, Blue Earth Diagnostics Limited, General Electric Co, and IBA Radiopharma Solutions, among others.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Rotem Industries Ltd
- ABX advanced biochemical compounds GmbH
- Invicro LLC
- Cardinal Health Inc
- Newcastle University
- Novartis AG
- Curium
- Blue Earth Diagnostics Limited
- General Electric Co
- IBA Radiopharma Solutions
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 128 |
| Published | December 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 4.18 Billion |
| Forecasted Market Value by 2030 | 16.1 Billion |
| Compound Annual Growth Rate | 18.4% |
| Regions Covered | Europe |
