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(Medical-NewsWire.com, June 29, 2017 ) The Europe market for nuclear medicine Radiopharmaceuticals Market is estimated at $1.04 Billion in 2015 and is expected to reach $1.78 billion by 2020, growing at a CAGR of 11.4%. Nuclear medicine falls under the field of Molecular imaging, which involves usage of minute amount of radioactive material (radiopharmaceuticals) to diagnose and treat disease.
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Increasing prevalence of chronic diseases such as cancer and cardiac ailments, rapid technological advancements, increasing demand for SPECT and PET applications and the growing public awareness for healthcare are fuelling the market growth for Radiopharmaceuticals. Further, Integration of X ray tomography (CT) into SPECT has emerged as an excellent diagnostic tool in the medical imaging and is considered to be a driving factor for the growth of the market. Strict regulatory framework pose as a great hurdle to translational research & clinical investigations and reimbursement issues are blocking the growth of the market. In addition, shorter half-life of radiopharmaceuticals and competition from orthodox diagnostic procedures are the key factors restraining the Europe nuclear medicine Radioisotopes market.
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The market of radiopharmaceuticals is segmented into Diagnostic radioisotopes and Therapeutic radioisotopes. Diagnostic radioisotope market basically covers SPECT (Technetium-99m, Thallium-201 Gallium-67, Iodine) and PET (Fluorine-18, Rubidium-82) radioisotopes. Therapeutic radioisotopes cover Beta emitters (Iodine-131, Yttrium-90, Samarium-153, Rhenium-186, Lutetium-177), Alpha Emitters (Radium-223) and Brachytherapy (Cesium-131, Iodine-125, Palladium-103, Iridium-192). By application market is segmented into (cardiology, lymphoma, thyroid, neurology oncology, and others). Furthermore, on the basis of geography, the European Market is segmented into various regions namely UK, Spain, Italy, Germany and France.
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Radiopharmaceuticals market is dominated by diagnostic radioisotopes with a market share of 90 % while therapeutic radioisotopes contribute a minor share of around 10% of the market. Based on type of radioisotopes the market is segmented into Technetium-99m (TC-99m), Thallium-201 (TL-201), Fluorine-18,Iodine (I-123), Rubidium-82 (RB-82) and others. The F-18 market is mostly contributed by F-18 FDG tracers though this market is enriched with future tracers such as F-18 Florbetapir and F-18 Choline. The promising clinical outcomes of these tracers have been gaining the business interest of major research institutes and PET isotope players. Ga-68 and Rb-82 are two new potential isotopes in the PET diagnostic market, ensuring high growth of the diagnostics segment. Diagnosis of coronary artery disease, bone metastasis, and Alzheimer’s disease
are the most promising indications for the future PET radioisotopes market.
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Some of the key players influencing the Europe nuclear medicine market are GE Healthcare, Hologic Inc., Medix Inc., Segami Corporation,Positron Corporation,Bracco Imaging S.p.A, Naviscan Inc., Bayer Healthcare, Lantheus Medical Imaging, Inc. and IBA Molecular Imaging.
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