Europe Nuclear Medicine Market
Europe Nuclear Medicine Market by Type (SPECT [Tc99m, I-123], PET [F-18, Rb-82], Alpha Emitters, Beta Emitters [Y-90, I-131], Brachytherapy), Application (Onco, Cardio), Procedure, End User (Imaging Center, Hospital), Market Growth - Forecast to 2030
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The Europe nuclear medicine market size is projected to reach USD 5.15 billion by 2030, from USD 2.47 billion in 2025, at a CAGR of 15.8% during the forecast period. This growth is driven by the rising application of radiopharmaceuticals and radioisotopes for diagnostic imaging and targeted radionuclide therapies, especially in oncology, cardiology, and neurology. The major drivers of the demand include rising cancer incidence, the aging population, and the high adoption of the PET and SPECT procedures in key European nations. Additionally, the development of theranostics, regional radioisotope production, and favourable regulatory and research efforts in Europe are accelerating the market's development.
KEY TAKEAWAYS
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BY COUNTRYBy country, Germany held the largest share of 26.3% in the Europe nuclear medicine market in 2024.
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BY TYPEBy type, the therapeutic nuclear medicine segment is expected to register the highest CAGR of 20.2%.
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BY APPLICATIONBy application, the diagnostic applications segment accounted for the largest share of 63.8% in 2024.
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BY VOLUME ASSESSMENTBy volume assessment, the diagnostic procedures segment is expected to dominate the market.
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BY END USERBy end user, hospitals accounted for the largest market share in 2024.
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COMPETITIVE LANDSCAPEGE HealthCare, Cardinal Health, and Bayer AG are key leaders in the Europe nuclear medicine market, recognized for their extensive product portfolios, robust data integration capabilities, and strong presence across healthcare ecosystems.
The Europe nuclear medicine market is growing due to investments in advanced PET/CT and SPECT/CT imaging facilities and the increased use of high-value radiopharmaceuticals, as per European regulatory requirements. Innovations in digital radiography and automated radiopharmacy solutions are enhancing the accuracy, efficiency, and compliance of diagnostic measures in healthcare institutions. Moreover, greater partnership between radiopharmaceutical manufacturers, imaging technologies, and hospital networks in the region is facilitating the emergence of coordinated and regional nuclear medicine solutions.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
In Europe, stringent EU and national regulations, complexity of managing the short half-life of radiopharmaceuticals, and the transition to advanced diagnostic and therapeutic processes are the driving forces of major trends in the nuclear medicine market. To meet the demands of safety, quality, and efficiency, hospitals, imaging centers, and radiopharmacies are transitioning to hybrid imaging systems, theranostics workflow, and automated radiopharmacy systems. These trends are also influencing the purchasing behaviour, where providers are also emphasising technologies that complement regulatory compliance, operational efficiency, cost optimisation & enhanced clinical outcomes to determine competitiveness in the European nuclear medicine market.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
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Strong adoption of theranostics across European cancer centers
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Well-established public healthcare systems
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Dependence on aging nuclear reactors for isotope supply
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Rising collaboration between industry and academic institutions
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Investments in alternative radioisotope production technologies
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Shortage of skilled nuclear medicine professionals
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Complex multi-country regulatory approval process
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: Strong adoption of theranostics across European cancer centers
A major driving force of the Europe nuclear medicine market is the strong adoption of theranostics in the European cancer centers. Theranostics can provide personalized cancer therapy by combining diagnostic imaging with targeted radionuclide therapy available to prostate cancer and neuroendocrine tumors. The general clinical acceptance, increased supply of therapeutic radioisotopes like lutetium-177, and favorable reimbursement models in key European nations are increasing the demand for both diagnostic and therapeutic radiopharmaceuticals, thereby driving market growth.
Restraint: Dependence on aging nuclear reactors for isotope supply
The Europe nuclear medicine market is restrained by its dependence on the ageing nuclear reactors to produce its major medical radioisotopes, e.g., molybdenum-99. Many of these reactors are decades old and prone to maintenance shutdowns, unexpected shutdowns, and also decommissioning risks, which can affect the distribution of isotopes in the region. These supply uncertainties include the predictability of the regular provision of diagnostic and therapeutic radiopharmaceuticals, which augment operational expenses and pose difficulties in scheduling for healthcare providers. Such dependence on constrained and ineffective infrastructure highlights the vulnerability in the supply chain that may reduce market expansion and restrict the expansion of nuclear medicine services in Europe.
Opportunity: Rising collaboration between industry and academic institutions
Rising collaboration among players in the industry and academic institutions presents a significant opportunity for the Europe nuclear medicine market. Radiotracer discovery and clinical translation, as well as novel therapeutic radioisotopes discovery, are areas where European universities, research hospitals, and cancer centers are actively collaborating with radiopharmaceutical companies. Such partnerships accelerate the innovation within theranostics, promote clinical trials at an early stage, & enhance access to specialized infrastructure & expertise. Moreover, strong public research investments and cross-border research activities in Europe are enabling the faster commercialization of academic breakthroughs, creating new opportunities for market participants.
Challenge: Shortage of skilled nuclear medicine professionals
The Europe nuclear medicine market faces significant challenges due to the scarcity of qualified nuclear medicine practitioners, such as nuclear medicine physicians, radiopharmacists, medical physicists, and technologists. As advanced PET/SPECT imaging and complicated forms of theranostics therapies are widely used, the need to have specialized expertise in radiopharmaceutical handling, radiation safety, and interpretation of hybrid images is growing. However, the growth in the workforce is limited by unequal training ability, the aging of the workforce, and inadequate service of specialized education programs in the various countries in Europe. This skills gap can slow clinical implementation, constraining service development, and straining the operations of healthcare facilities, which makes the scalable growth of nuclear medicine services in Europe difficult.
EUROPE NUCLEAR MEDICINE MARKET: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
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Supply of PET and SPECT radioisotopes and radiopharmaceuticals supporting oncology, cardiology, and neurology imaging across European healthcare systems. | Reliable isotope availability, high-quality diagnostic imaging, and improved clinical confidence. |
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Distribution and nuclear pharmacy services supporting the preparation and delivery of radiopharmaceuticals to European hospitals and imaging centers. | Timely radiotracer supply, efficient logistics, and continuity of nuclear medicine services. |
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European production and distribution of diagnostic and therapeutic radiopharmaceuticals, including PET and SPECT radioisotopes. | Stable regional isotope supply, consistent product quality, and broad access to nuclear medicine procedures. |
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Development and commercialization of radioisotope-based therapies and diagnostic radiopharmaceuticals for oncology applications in Europe. | Targeted treatment delivery, improved therapeutic outcomes, and reduced impact on healthy tissue. |
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Supply of diagnostic radiopharmaceuticals and PET imaging agents supporting cardiac and oncologic imaging in the European market. | Accurate disease detection, faster diagnosis, and improved patient management. |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
GE HealthCare, Curium, Bayer, and Cardinal Health are the key players in the Europe nuclear medicine market that contribute to the market through radiopharmaceuticals, supply of radioisotopes, and radiopharmacy services to be used in diagnosis and therapeutic purposes. These firms are interested in the development of PET/CT, SPECT/CT, the expansion of theranostics, and building regional supply chains. Their solutions are widely implemented in European hospitals and imaging facilities, and they continue to interact with customers to expand the market.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Europe Nuclear Medicine Market, By Type
Based on type, the Europe nuclear medicine market is segmented into diagnostic nuclear medicine and therapeutic nuclear medicine, with the diagnostic segment accounting for the largest share. This growth is driven by the high number of PET and SPECT imaging procedures in Europe, which are high for disease detection and monitoring. The prevalence of the diagnostic segment has been upheld by the large number of well-established diagnostic radiopharmaceuticals like technetium-99m and fluorine-18, the presence of a strong installed base of PET/CT and SPECT/CT systems, and favorable reimbursement systems throughout the European market.
Europe Nuclear Medicine Market, By Application
Based on application, the diagnostic applications segment holds a significant share in the Europe nuclear medicine market because it is widely used in early disease diagnosis, precise staging, and monitoring of treatment in the oncology, cardiology, and neurology sectors. The strong market position of this segment is based on high dependence on PET and SPECT imaging to diagnose cancer and assess cardiovascular risk, with the support of the presence of well-established diagnostic radiopharmaceuticals and high-level imaging infrastructure. Additionally, favorable reimbursement policies, high procedure volumes, and high clinical acceptance of nuclear diagnostic imaging within the European healthcare systems are the driving factors of sustained demand in the applications of diagnostic nuclear medicine.
Europe Nuclear Medicine Market, By Volume Assessment
Based on volume assessment, diagnostic procedures contributed significantly to the Europe nuclear medicine market due to the high rate of PET and SPECT scans undertaken in hospitals and other diagnostic imaging facilities. The high volumes of nuclear imaging procedures are due to the large patient base that is taken through cancer screening, disease staging, and therapy monitoring procedures, as well as due to its regular use in cardiology and neurology. Additionally, the presence of diagnostic radiopharmaceuticals, reduced turnaround times in procedures, and confirmed clinical workflow in European healthcare systems is also an additional factor that enables the prevalence of diagnostic procedures in total market volumes.
Europe Nuclear Medicine Market, By End User
Based on end users, the Europe nuclear medicine market is segmented into hospitals, imaging centers, academic & research centers, and other end users, with hospitals accounting for a significant share. This is due to the advanced PET/CT and SPECT/CT systems being concentrated in the hospital system; in-house radiopharmacy facilities are available, and these are multidisciplinary clinical units needed in both diagnostic and therapeutic nuclear medicine procedures. The high patient inflow, nuclear medicine integration into overall cancer management processes, and favorable reimbursement for hospital procedures in European healthcare systems all contribute to the hospital's solid market position.
REGION
Germany to be fastest-growing country in Europe nuclear medicine market during forecast period
Germany is expected to register the fastest-growing country during the forecast period. This growth is attributed to the growing use of more advanced PET/CT and SPECT/CT imaging technology, the fast growth of theranostics in oncology, and the growing need for diagnostic and therapeutic radiopharmaceuticals. The strong investment in healthcare infrastructure, active clinical research, and the existence of well-organized radiopharmaceutical manufacturing and radiopharmacies also contribute to the growth of the market. Moreover, favorable reimbursement policies, early embrace of innovative nuclear medicine procedures, and an increased emphasis on precision medicine are driving the growth in the nuclear medicine market in Germany.
EUROPE NUCLEAR MEDICINE MARKET: COMPANY EVALUATION MATRIX
GE HealthCare (Star) is a key player in the European nuclear medicine market, supported by a strong radiopharmaceutical portfolio, a PET and SPECT network, and widespread partnerships with European hospitals. Eckert and Ziegler (Emerging Leader) has a good growth potential as it can capitalise on the increased demands of its radioisotopes production and radiopharmaceutical development potential to serve the increased need for diagnostic and therapeutic services in Europe.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- GE HealthCare (US)
- Cardinal Health (US)
- Curium (France)
- Bayer AG (Germany)
- Lantheus Holdings, Inc. (US)
- Novartis AG (Switzerland)
- Jubilant Pharmova Limited (India)
- Bracco Imaging S.P.A (Italy)
- Pharmalogic Holdings Corp. (US)
- Sun Pharmaceutical Industries, Inc. (India)
- Nordion Inc. (Canada)
- Siemens Healthineers AG (Germany)
- NorthStar Medical Radiosiotopes, LLC (US)
- Eckert & Ziegler (Germany)
- Medi-Radiopharma (Hungary)
- SHINE Technologies, LLC (US)
- Telix Pharmaceuticals Limited (Australia)
- PDRadiopharma Inc. (Japan)
- ITM Isotope Technologies Munich SE (Germany)
- BWX Technologies Inc. (US)
- Isotopia (Israel)
- Institutes of Isotopes (Hungary)
- IRE Elit (Turkey)
- Cyclopharm (Australia)
- RadioMedix, Inc. (US)
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size in 2024 (Value) | USD 2.14 Billion |
| Market Forecast in 2030 (Value) | USD 5.15 Billion |
| Growth Rate | CAGR of 15.8% from 2025-2030 |
| Years Considered | 2024-2030 |
| Base Year | 2024 |
| Forecast Period | 2025-2030 |
| Units Considered | Value (USD Million/Billion) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered |
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| Countries Covered | Germany, France, UK, Italy, Spain, Rest of Europe |
WHAT IS IN IT FOR YOU: EUROPE NUCLEAR MEDICINE MARKET REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
|---|---|---|
| Competitive Landscape Mapping | Lists of the major European nuclear medicine leaders (e.g., Siemens Healthineers, GE HealthCare, Curium, Novartis/AAA, IBA Radiopharma) in the areas of radiopharmaceuticals, PET/SPECT systems, and radiopharmacy services. | It allows for increased competition between products, technology platforms and services as well as facilitates partnerships and investment strategies. |
| Market Entry & Growth Strategy | The country-by-country analysis of the main European markets (Germany, France, UK, Italy, Spain, Nordics) measuring demand based on the indicative, reimbursement structure, and maturity of radiopharmacy infrastructure. | By reducing the risk of entry into a new market, prioritizing the fastest growing nations and identifying the best clinical applications of the technology, it allows for improved planning of scalable regionally based growth opportunities . |
| Regulatory & Operational Risk Analysis | Analysis of EMA approvals, Euratom, domestic radiation safety standards, and inter-country supply and transport of isotopes. | Enhancing regulatory readiness, eliminating compliance and supply chain uncertainty and developing trust among the key stakeholder groups allows there to be an increased risk reduction. |
| Technology Adoption Trends | Information about the uptake of new radiotracers, theranostics, PET/CT, and PET/MR technology, automation of radiopharmacies, and the use of AI in the interpretation of images. | Formulating Product and Portfolio Strategy provides product development, promoting a competitive edge, creating specific funding opportunities for the advancement of nuclear medicine technology. |
RECENT DEVELOPMENTS
- April 2025 : Curium acquired Nucleis, a GMP company and distributor of PET radiopharmaceuticals, located in Belgium. The acquisition enhances the PET imaging capabilities of Curium and the availability of the fluorine-18 tracers in the European market, contributing to its development in the PET market.
- November 2024 : Eckert & Ziegler Radiopharma GmbH granted authorization by the European Commission for its non-carrier- added lutetium-177 chloride, Theralugand. The consent permitted usual clinical applications of Theralugand in the European Economic Area.
- May 2024 : Siemens Healthineers acquired Advanced Accelerator Applications Molecular Imaging of Novartis and extended its European network of PET radiopharmaceuticals manufacture and distribution. Seizing the company provides 13 locations in five European nations and complements the PETNET Solutions network of Siemens Healthineers, supplementing the proximity-based provision of PET in diagnostic imaging and theranostics.
Table of Contents
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Methodology
The study involved four major activities in estimating the current size for the Europe nuclear medicine market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as D&B Hoovers, Bloomberg Business, and Factiva have been referred to, to identify and collect information for the market study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, and databases.
Primary Research
The Europe nuclear medicine market comprises several stakeholders, such as preferred suppliers and distributors, healthcare institutions (hospitals, medical schools, group practices, individual surgeons, and governing bodies), medical device vendors/service providers, research institutes, and research and consulting firms. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Mentioned below is the breakdown of primary respondents:
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the Europe nuclear medicine market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
Data Triangulation
After arriving at the overall Europe nuclear medicine market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and to arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the nuclear medicine industry
Report Objectives
- To define, describe, and forecast the Europe nuclear medicine market on the basis of type, application, procedural volume, and country
- To provide detailed information regarding the major factors influencing the growth of this market (such as drivers, restraints, and opportunities)
- To analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to North America (the US and Canada)
- To strategically analyze the market structure and profile key players and their core competencies in the market
To track and analyze competitive developments such as product launches, expansions, acquisitions, partnerships, and collaborations in US nuclear medicine.
Available Customizations
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- Detailed analysis and profiling of additional market players (up to 5)
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Growth opportunities and latent adjacency in Europe Nuclear Medicine Market