According to our latest study on “Europe Radioactive Tracers Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Test Type, End User, Tracer Type, and Application,” the market is expected to grow from US$ 4,175.25 million in 2022 to US$ 11,005.25 million by 2028; it is estimated to record a CAGR of 17.5% from 2023 to 2028. The report highlights trends prevailing in the market, along with market drivers and deterrents. The rising prevalence of chronic diseases and increased use of nuclear imaging techniques are the key factors driving the growth of the Europe radioactive tracers market. However, the short shelf-life of radioactive tracers and availability of substitutes for nuclear diagnostic imaging procedures are hampering the market growth.

Rising Prevalence of Chronic Diseases to Drives Europe Radioactive Tracers Market Growth

The prevalence of cardiovascular diseases (CVDs), cancer, chronic lung diseases, stroke, Alzheimer’s disease, chronic kidney disease, neurological disorders, and other long-term diseases is increasing rapidly in different European countries. According to the European Heart Network, CVDs cause 3.9 million deaths in Europe and more than 1.8 million deaths in the European Union (EU) every year. They account for 45.0% of total mortalities and 37.0% of the total death count in the EU. Heart attack is the most serious consequence of coronary heart disease (CHD). In Germany, more than 3.6 million people live with CHD, and more than 1.3 million have survived a stroke. According to the latest WHO data published in 2020, Germany recorded 147,055 deaths caused by CHD, i.e., 20.98% of total deaths in the region. Per the data published in the Burden of Stroke in Europe report conducted by King’s College London for the Stroke Alliance for Europe, Germany reports the incidence of stroke at ~88,922 cases annually, which is equivalent to 51.7 stroke cases per 100,000 inhabitants in the country. The prevalence of stroke in Germany is ~526,774 cases, accounting for 338.5 stroke cases per 100,000 inhabitants. The country also has a significant mortality rate of stroke, i.e., 75,861 deaths per year. According to estimates by the German government, the incidence of strokes in the country is expected to increase by 30% by the end of 2035.

The current prevalence of COPD in Germany ranges from 1.3% to 13.2%. Also, the economic burden of COPD on the German healthcare system is high as a treatment for COPD is cost-intensive and is associated with high chances of work impairment. The British Lung Foundation 2023 report states that in the UK, ~8 million people, over 12% of the population, have been diagnosed with asthma. Additionally, the National Institute for Health and Care Excellence (NICE) report states that every day 185 people in the UK are admitted to hospital due to asthma attacks, and in all 5.4 million people are receiving treatment for asthma. Asthma and COPD are types of chronic lung diseases that are indirectly responsible for the increase in the burden of chronic diseases. An effective examination is a must for the proper treatment of such medical conditions.

Nuclear substances are used in diagnostic tests such as positron emission tomography (PET) and single-photon emission computerized tomography (SPECT) for the diagnosis of various chronic diseases, such as neurological, cardiovascular disease, chronic lung diseases, and chronic kidney diseases. In Europe, a long list of radiotracers is available for medical purposes, and the choice of radiotracers for such diagnostic test depends upon the type of disease and its prognosis. Thus, with a surge in the incidence of chronic diseases, the need for radioactive tracers is also rising in the region.

The Europe radioactive tracers market, based on application, is segmented into oncology, pulmonary, neurology, cardiology, and others. In 2022, the oncology segment held the largest share of the Europe radioactive tracers market. The market for the neurology segment is expected to grow at the fastest CAGR during the forecast period. Cancer includes a range of diseases resulting due to unregulated growth of malignant cells. It is one of the significant health problems with a high mortality rate. The diagnosis and treatment of cancer patients require access to diagnostics centers with state-of-the-art imaging equipment to ensure optimal outcomes, along with accurate management decisions. Moreover, the application of nuclear medicine in oncology is transforming at a rapid pace owing to the increasing understanding of the biological characteristics of tumors and the increasing availability of PET instruments. F-18 fluorodeoxyglucose (FDG) is the most common radiotracer used in the nuclear medicine-led treatment of cancer. FDG is similar to glucose, and cancer cells are more metabolically active and absorb glucose at a higher rate. This higher rate can be detected on PET scans, which enables the diagnosis of the disease. Fluorine-18 labeled FDG is also effective in differentiating malignant tumors from benign tumors, and in determining the extent of disease. People with neuroendocrine tumors (NETs) have wider access to PRRT, following the FDA approval of lutetium Lu 177 dotatate (Lutathera) in January 2018. Further, in October 2020, RayzeBio, Inc. received US$ 45 million funding in Series A financing to advance its broad pipeline of targeted radiopharmaceuticals. Thus, the increasing availability of radioactive tracers with the growing investments in cancer nuclear medicine propels the growth of the Europe radioactive tracers market for the oncology segment.

Rotem Industries Ltd., ABX Advanced Biochemical Compounds GmbH, Invicro LLC., Cardinal Health, Newcastle University, Novartis, Curium, Blue Earth Diagnostics, IBA Radiopharma Solutions, and General Electric Company are a few of the prominent players operating in the Europe radioactive tracers market. Companies are launching new and innovative products and services to sustain their position in the market. In June 2022, Curium submitted its Marketing Authorization Application for [18F]-DCFPyL to the European Medicines Agency. The positive results of Phase III PYTHON clinical trial conducted in Europe reinforce the diagnostic performance of [18F]–DCFPyL in the pivotal OSPREY and CONDOR clinical trials in multiple stages of prostate cancer.

The report segments the Europe radioactive tracers market as follows:

The Europe radioactive tracers market, based on test type, is segmented into PET, SPECT, and others. Based on end user, the market is segmented into hospitals & clinics, diagnostic centers, academic & research institutes, and others. The Europe radioactive tracers market, by tracer type, is segmented into Technetium-99m and Tc-97m, Iodine-13, Iron-59, Lutetium-171, Rubidium (Rb-82) Chloride and Ammonia (N-13), Scandium-46, Seaborgium-269, Hassium-269, Gallium Citrate Ga 67, Prostate-Specific Membrane Antigen (PSMA) (Ga-68), FDDNP (F-18) and FDOPA (F-18), Phosphorus-32 and chromium-51, Thallium-201, F-18 FDG, F-18 FAPI, Ga-68 FAPI, F-18 PSMA, DOTATOC/DOTANOC/DOTATATE (Ga-68), and Others. The Europe radioactive tracers market, based on application, is segmented into oncology, pulmonary, neurology, cardiology, and others. Based on country, the Europe radioactive tracers market is bifurcated into the UK, Germany, France, Italy, Spain, and the Rest of Europe.

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