Europe Radiopharmaceutical Theranostics Market Forecast to 2028 -Regional Analysis - by Product Type [Alpha Emitters, Beta Emitters, and Positron Emission Tomography (PET) Tracers], Radioisotope [Technetium-99, Gallium-68, Iodine-131, Iodine-123, Fluorine

Europe Radiopharmaceutical Theranostics Market Forecast to 2028-Regional Analysis- by Product Type [Alpha Emitters, Beta Emitters, and Positron Emission Tomography (PET) Tracers], Radioisotope [Technetium-99, Gallium-68, Iodine-131, Iodine-123, Fluorine-18 (18F), Yttrium 90 (Y-90), Lutetium (Lu) 177, Copper (Cu) 67, Copper (Cu) 64, and Others], Source (Nuclear Reactors and Cyclotrons), Application [Targeted Therapeutic (Rx) and Companion Diagnostic (CDx)], Indication (Oncology, Cardiology, Neurology, and Others), and End User (Hospitals, Diagnostic Imaging Centers, Academic and Research Institutes, and Others)

The Europe radiopharmaceutical theranostics market was valued at US$ 462.25 million in 2022 and is expected to reach US$ 853.61 million by 2028; it is estimated to register a CAGR of 10.8% from 2022 to 2028.

Rising Incidence of Cancer

The most common types of cancer are breast, lung, colon, rectum, and prostate. As people age, they become immunocompromised and often succumb to cancer risks. Poor lifestyles, longer working hours, increasingly stressful lives, smoking, alcohol consumption, contraceptive use, nulliparity, and reduced breastfeeding all contribute to breast cancer incidence.

Radiopharmaceutical theranostics have promising potential in cancer therapy. Theranostics is the combination of therapeutic and diagnostic techniques that utilize a suitable radiopharmaceutical agent. For example, radioiodine has a well-known theranostic application in diagnosing and treating differentiated thyroid cancer. Several radiopharmaceutical theranostic pairs are available for breast cancer applications. These pairs include 43/44 Sc/47 Sc, 64 Cu/67 Cu, 83 Sr/89 Sr, 86Y/90 Y, 110 In/111 In, 124I/131 I, 152 Tb/161 Tb, 152 Tb/149 Tb, 68 Ga/177 Lu, and 90 Y/177 Lu. 123 I/131 I is a well-known example of theranostic pair that is used in high-quality single-photon emission computerized tomography (SPECT)/CT for pre- and post-therapeutic assessment of thyroid cancer.

Malignant gliomas are deadly tumors with the availability of only a few therapeutic options. 89 Zr- and 177 Lu-labeled Lumi804-αCD11b is a promising theranostic technique intended for monitoring and reducing tumor-associated myeloid cells in gliomas and improving immunotherapy outcomes. Further, theranostics are incorporated in radiometals for positron emission tomography (PET) imaging and targeted radiopharmaceutical therapy (TRT). DOTA-octreotate (dotatate) radiolabeled with Lu-177 (177Lu-dotatate: Lutathera) or Ga-68 (68Ga-dotatate: NetSpot) are approved by the Food and Drug Administration (FDA) for TRT and PET imaging. Thus, a radiopharmaceutical theranostic approach has unprecedented value in diagnosing and treating different types of cancer, which fuels the overall market growth.

Europe Radiopharmaceutical Theranostics Market Overview

The Europe radiopharmaceutical theranostics market is segmented into the Germany, UK, France, Spain, Italy, and the Rest of Europe. Germany is expected to be among the largest contributors to the radiopharmaceutical theranostics market. The market growth in this region is due to the increasing incidences of chronic diseases such as cancer, diabetes, heart diseases, presence of supportive government plans, growing strategic initiatives by the market players, and development of innovative radiotherapies.

Exhibit: Europe Radiopharmaceutical Theranostics Market Revenue and Forecast to 2028 (US$ Million)

Europe Radiopharmaceutical Theranostics Market Segmentation

The Europe radiopharmaceutical theranostics market is segmented into product type, radioisotype, source, application, indication, end user, and country. Based on product type, the Europe radiopharmaceutical theranostics market is segmented into alpha emitters, beta emitters, and positron emission tomography (PET) tracers. The PET tracers segment held the largest market share in 2022.

Based on radioisotype, the Europe radiopharmaceutical theranostics market is segmented into technetium-99, gallium-68, iodine-131, iodine-123, Fluorine-18 (18F), Yttrium 90 (Y-90), Lutetium (Lu) 177, Copper (Cu) 67, Copper (Cu) 64, and others. The Lutetium (Lu) 177 segment held the largest market share in 2022.

Based on source, the Europe radiopharmaceutical theranostics market is bifurcated into nuclear reactors and cyclotrons. The cyclotrons segment held a larger market share in 2022.

Based on application, the Europe radiopharmaceutical theranostics market is bifurcated into targeted therapeutic (Rx) and Companion Diagnostic (CDx). The targeted therapeutic (Rx) segment held a larger market share in 2022.

Based on indication, the Europe radiopharmaceutical theranostics market is segmented into oncology, cardiology, neurology, and others. The oncology segment held the largest market share in 2022.

Based on end user, the Europe radiopharmaceutical theranostics market is segmented into hospitals, diagnostic imaging centers, academic and research institutes, and others. The oncology segment held the largest market share in 2022.

Based on country, the Europe radiopharmaceutical theranostics market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe radiopharmaceutical theranostics market share in 2022.

Bayer AG, GE Healthcare Technologies Inc., Curium, Lantheus Medical Imaging, Inc., Telix Pharmaceuticals Ltd., Cardinal Health Inc., Advanced Accelerator Applications S.A, and Theragnostics are among the leading companies operating in the Europe radiopharmaceutical theranostics market.

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