Germany Nuclear Imaging Market Size

Germany Nuclear Imaging Market Analysis

The Germany Nuclear Imaging Market size is estimated at USD 504.08 million in 2024, and is expected to reach USD 614.17 million by 2029, growing at a CAGR of 4.03% during the forecast period (2024-2029).

COVID-19 has severely impacted the market studied during the year 2020 owing to quick actions taken by the government for postponing non-essential diagnostic procedures in hospitals. Besides the negative impact of COVID-19, it has created opportunities for players in the nuclear imaging field to establish their presence by launching new products or progressing clinical studies in this field. For instance, in April 2021, Isotopen Technologien Munchen, Germany received a USD 109 million loan to push forward the study of Lutetium-177 which is expected to emit a low amount of radioactive energy as compared to other radiopharmaceuticals. Owing to such activities in the country, the nuclear imaging market is getting the benefits and is expected to witness strong growth in the coming years.

Factors such as the increasing burden of chronic diseases and the presence of key companies in the country are responsible for the market growth. Furthermore, many companies entered into a partnership to provide the radiopharmaceutical industry with a unique service solution for theranostic drug development. For instance, in July 2021, Oncodesign, Covalab, CheMatech, and ABX-CRO entered into a partnership to launch DRIVE-MRT (Molecular Radiotherapy) solution, which will have all technologies related to the validation of targets, the generation and optimization of vectors and the radiochemistry and PET / SPECT imaging techniques. These partnerships are streghthning the market of nuclear imaging in Germany. 

Hence, due to the above-mentioned factors, the market for nuclear imaging is growing rapidly in Germany.