The European Nuclear Medicine market size is estimated at USD 1.69 billion in 2022 and is expected to reach USD 2.91 billion by 2027, growing at a CAGR of 11.4%.
The rise in the demand to improve diagnostic and treatment procedures and a growing number of people suffering from chronic and cardiovascular problems are accelerating the growth of the nuclear medicine market in Europe. The emergence of new applications in radiopharmaceuticals with advanced technology significantly and growing expenditure on healthcare is further favoring the nuclear medicine market in Europe. The rise in the need for targeted treatment procedures, growing disposable income in urban areas, and rising support from the government and non-government organizations through funds for developing nuclear medicine are also supporting the market in the European region. The rise in awareness over the availability of various treatment procedures among people and ongoing research on developing new treatment procedures for different diseases at low cost are fuelling the growth rate of the European nuclear medicine market.
However, stringent rules and regulations by government authorities in approving new products and high costs associated with installing and maintaining the equipment in clinical laboratories need massive amounts that small-scale enterprises cannot afford remains challenging factor for the market players. Rising complications with the regular usage of the drugs in some patients impede the European nuclear medicine market.
This research report on the European Nuclear Medicine Market has been segmented and sub-segmented into the following categories:
Regionally, Europe is one of the fastest-growing regions in the worldwide market and accounted for a substantial share of the global market in 2021. Germany held a significant share in the Europe region in 2021 owing to the rise in capital income. Besides, the adoption of the latest technological developments in clinical centers is leveraging the growth rate of the market.
Following Germany, U.K and France had a considerable share in the European region in 2021. The rise in awareness over SPECT and PET diagnostic procedures for accurate results is fuelling the nuclear medicine market's growth. Increasing concern towards health and people's demand for effective diagnostic and treatment procedures is prompting the demand for this market. Italy, Spain, Russia, and the Rest of Europe are anticipated to have a significant growth rate in foreseen years with the hospitals and diagnostic centres’ growing investments.
KEY MARKET PLAYERS:
A few of the notable companies operating in the European 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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