Nuclear Medicine Radioisotopes Market Report and Forecast 2025-2034
Description
The global nuclear medicine radioisotopes market size was valued at USD 8.90 Billion in 2024, driven by rising incidence of thyroid disorders across the globe. The market is expected to grow at a CAGR of 8.00% during the forecast period of 2025-2034, with the value likely to rise to USD 19.21 Billion by 2034.
Global Nuclear Medicine Radioisotopes Market Overview
Nuclear medicine radioisotopes are used as a diagnostic method to facilitate better visualization of internal structures and assessment of organ function. It is introduced either orally or intravenously and contains an unstable form of elements the emit radiation. In therapeutics, it helps in targeting and destroying diseased tissues. It is commonly employed in treating thyroid disorders which includes thyroid cancer as well as hyperthyroidism.
The nuclear medicine radioisotopes market demand is continuously increasing by 5% annually owing to its growing application in disease diagnosis and thyroid cancer treatment. As per the data recorded by the World Nuclear Association, approximately 40 million nuclear medicine procedures are performed each year. Around one quarter of the world population (1 in 50 people) used diagnostic nuclear medicine with one-tenth of the procedures using radioisotopes. The application of radiopharmaceuticals is increasing by 10% annually.
Technical Advancements to Facilitate Isotope Production on a Bigger Magnitude
The nuclear medicine radioisotopes market growth is driven by the growing technical advancements that help in large scale isotope production. In June 2023, Westinghouse Electric Company developed a new approach to produce Actinium-225 (Ac-225) radioisotopes in commercial nuclear reactors, enabling its application in advanced cancer treatments. This facilitates a vast improvement from the existing method that limits the availability of the compound.
The increasing convergence of artificial intelligence and biotechnology has also led to optimized operations in the field of research. The arrival of artificial intelligence into nuclear medicine is expected to streamline multiple tasks such as management of radiopharmaceutical preparation and report generation.
Technetium-99m (Tc-99m) to Dominate the Nuclear Medicine Radioisotopes Market Share
Technetium-99 (Tc-99m) is the most common and widely used radioisotope with around 40 million procedures conducted annually, out of which 80% are nuclear medicine procedures and 85% diagnostic scans worldwide. With a short half life of 6 hours, the ideal for imaging body organs and helps in disease detection without delivering a substantial amount of radiation dosage to the patients.
Surge in Investments to Develop Infrastructure
Several key companies stepping forward to offer therapeutic radioisotopes on a commercial level is a significant nuclear medicine radioisotopes market trend. United States based NorthStar Medical Radioisotopes, LLC is emerging as a key player, with several programs in pipeline. In a new agreement with IBA (Ion Beam Applications S.A., EURONEXT), the company bought Rhodotron TT300 HE electron beam accelerators, and the associated beamlines, from IBA and successfully executed non-uranium-based Mo-99 to be used in diagnostic imaging.
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In September 2023, a United States based biotech company RayzeBio, Inc., underwent multiple infrastructure developments to integrate latest technologies aimed at developing Actinium 225 for targeted cancer therapy. RYZ101, the company’s latest isotope, is in late-stage clinical trials. They have invested around USD 45 million in the new building which includes a back-up power system, along with modular cleanrooms and mechanical systems.
Increased Merger and Acquisition Activity Amongst Emerging Companies
Mergers and collaborations significantly contribute to the rising nuclear medicine radioisotopes market size. In March 2023, Radiopharm Theranostics , a nuclear medicine developer, acquired Pharma15 Corporation a private venture for USD 4 million. The acquisition was aimed at leveraging Pharma15’s therapies prostate specific membrane antigen or PSMA. RAD101, Radiopharm’s advanced program is already focused at developing an imaging tool for brain metastases and the device has received an orphan device status from the FDA as well.
Global Nuclear Medicine Radioisotopes Market Segmentation
Nuclear Medicine Radioisotopes Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Radioisotope Type
In the forecast period, the United States is projected to lead the nuclear medicine radioisotopes market share with around 20 million nuclear medicine procedures are conducted per year. With a robust medical research infrastructure and continuous investments from governments as well private companies into developing improved patient solutions is one of the key factors for the market size.
Europe is another major player of the market that is witnessing growth due to increasing collaborations between influential healthcare companies. The region witnesses approximately 10 million procedures with 2 million therapeutic cases. Several companies are rapidly expanding their product portfolios as well with an aim to devise new drugs using latest technologies.
The Asia Pacific nuclear medicine radioisotopes market value is expected to witness an expediated boost, which can be accredited to rising fundings to set up latest infrastructure in the region. In October 2023, the Australian Nuclear Science and Technology Organization (Ansto) received a government funding of USD 12.8 million to set up a new nuclear medicine facility in Sydney. The region witnesses approximately 560,000 nuclear medicine procedures each year.
Global Nuclear Medicine Radioisotopes Market: Competitor Landscape
In December 2023, Bristol Myers Squibb and RayzeBio, Inc. announced their merger agreement valued at USD 4.1 billion. As per the terms of the deal, Bristol is expected to acquire RayzeBio’s differentiated actinium-based radiopharmaceutical platform and diversify their oncology portfolio to offer targeted treatment to patients with solid tumours. The collaboration is key indicator of the ongoing market trend, wherein the companies are continuously undergoing changes to expand their product lines and develop novel therapeutics.
The key features of the nuclear medicine radioisotopes market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
*Please Note:* The report will take 5 business days to complete, after order confirmation.
Global Nuclear Medicine Radioisotopes Market Overview
Nuclear medicine radioisotopes are used as a diagnostic method to facilitate better visualization of internal structures and assessment of organ function. It is introduced either orally or intravenously and contains an unstable form of elements the emit radiation. In therapeutics, it helps in targeting and destroying diseased tissues. It is commonly employed in treating thyroid disorders which includes thyroid cancer as well as hyperthyroidism.
The nuclear medicine radioisotopes market demand is continuously increasing by 5% annually owing to its growing application in disease diagnosis and thyroid cancer treatment. As per the data recorded by the World Nuclear Association, approximately 40 million nuclear medicine procedures are performed each year. Around one quarter of the world population (1 in 50 people) used diagnostic nuclear medicine with one-tenth of the procedures using radioisotopes. The application of radiopharmaceuticals is increasing by 10% annually.
Technical Advancements to Facilitate Isotope Production on a Bigger Magnitude
The nuclear medicine radioisotopes market growth is driven by the growing technical advancements that help in large scale isotope production. In June 2023, Westinghouse Electric Company developed a new approach to produce Actinium-225 (Ac-225) radioisotopes in commercial nuclear reactors, enabling its application in advanced cancer treatments. This facilitates a vast improvement from the existing method that limits the availability of the compound.
The increasing convergence of artificial intelligence and biotechnology has also led to optimized operations in the field of research. The arrival of artificial intelligence into nuclear medicine is expected to streamline multiple tasks such as management of radiopharmaceutical preparation and report generation.
Technetium-99m (Tc-99m) to Dominate the Nuclear Medicine Radioisotopes Market Share
Technetium-99 (Tc-99m) is the most common and widely used radioisotope with around 40 million procedures conducted annually, out of which 80% are nuclear medicine procedures and 85% diagnostic scans worldwide. With a short half life of 6 hours, the ideal for imaging body organs and helps in disease detection without delivering a substantial amount of radiation dosage to the patients.
Surge in Investments to Develop Infrastructure
Several key companies stepping forward to offer therapeutic radioisotopes on a commercial level is a significant nuclear medicine radioisotopes market trend. United States based NorthStar Medical Radioisotopes, LLC is emerging as a key player, with several programs in pipeline. In a new agreement with IBA (Ion Beam Applications S.A., EURONEXT), the company bought Rhodotron TT300 HE electron beam accelerators, and the associated beamlines, from IBA and successfully executed non-uranium-based Mo-99 to be used in diagnostic imaging.
_x000D__x000D_
In September 2023, a United States based biotech company RayzeBio, Inc., underwent multiple infrastructure developments to integrate latest technologies aimed at developing Actinium 225 for targeted cancer therapy. RYZ101, the company’s latest isotope, is in late-stage clinical trials. They have invested around USD 45 million in the new building which includes a back-up power system, along with modular cleanrooms and mechanical systems.
Increased Merger and Acquisition Activity Amongst Emerging Companies
Mergers and collaborations significantly contribute to the rising nuclear medicine radioisotopes market size. In March 2023, Radiopharm Theranostics , a nuclear medicine developer, acquired Pharma15 Corporation a private venture for USD 4 million. The acquisition was aimed at leveraging Pharma15’s therapies prostate specific membrane antigen or PSMA. RAD101, Radiopharm’s advanced program is already focused at developing an imaging tool for brain metastases and the device has received an orphan device status from the FDA as well.
Global Nuclear Medicine Radioisotopes Market Segmentation
Nuclear Medicine Radioisotopes Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Radioisotope Type
- Technetium-99m (Tc-99m)
- Thallium-201 (Tl-201)
- Iodine (I-123)
- Fluorine-18, Rubidium-82 (Rb-82)
- Iodine-131 (I-131)
- Lutetium-177 (Lu-177)
- Radium-223 (Ra-223)
- Alpharadin
- Actinium-225 (Ac-225)
- Others
- Oncology
- Cardiology
- Thyroid
- Neurology
- Other Applications
- Hospital
- Diagnostic labs
- Other
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
In the forecast period, the United States is projected to lead the nuclear medicine radioisotopes market share with around 20 million nuclear medicine procedures are conducted per year. With a robust medical research infrastructure and continuous investments from governments as well private companies into developing improved patient solutions is one of the key factors for the market size.
Europe is another major player of the market that is witnessing growth due to increasing collaborations between influential healthcare companies. The region witnesses approximately 10 million procedures with 2 million therapeutic cases. Several companies are rapidly expanding their product portfolios as well with an aim to devise new drugs using latest technologies.
The Asia Pacific nuclear medicine radioisotopes market value is expected to witness an expediated boost, which can be accredited to rising fundings to set up latest infrastructure in the region. In October 2023, the Australian Nuclear Science and Technology Organization (Ansto) received a government funding of USD 12.8 million to set up a new nuclear medicine facility in Sydney. The region witnesses approximately 560,000 nuclear medicine procedures each year.
Global Nuclear Medicine Radioisotopes Market: Competitor Landscape
In December 2023, Bristol Myers Squibb and RayzeBio, Inc. announced their merger agreement valued at USD 4.1 billion. As per the terms of the deal, Bristol is expected to acquire RayzeBio’s differentiated actinium-based radiopharmaceutical platform and diversify their oncology portfolio to offer targeted treatment to patients with solid tumours. The collaboration is key indicator of the ongoing market trend, wherein the companies are continuously undergoing changes to expand their product lines and develop novel therapeutics.
The key features of the nuclear medicine radioisotopes market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- GE HealthCare
- Cardinal Health
- Curium
- Bayer AG
- Lantheus Holdings, Inc.
- Bracco Imaging S.p.A.
- PharmaLogic Holdings Corp.
- Eczacibasi-Monrol Nuclear Products
- Nordion Inc.
- NorthStar Medical Radioisotopes
- NTP Radioisotopes SOC Ltd
- Aenorasis
- Positron Corporation
- Nordion Inc. (Sotera Health Company)
- Siemens Healthineers
*Please Note:* The report will take 5 business days to complete, after order confirmation.
Table of Contents
350 Pages
- 1 Preface
- 1.1 Objectives of the Study
- 1.2 Key Assumptions
- 1.3 Report Coverage – Key Segmentation and Scope
- 1.4 Research Methodology
- 2 Executive Summary
- 3 Global Nuclear Medicine Radioisotopes Market Overview
- 3.1 Global Nuclear Medicine Radioisotopes Market Historical Value (2018-2024)
- 3.2 Global Nuclear Medicine Radioisotopes Market Forecast Value (2025-2034)
- 4 Global Nuclear Medicine Radioisotopes Market Landscape
- 4.1 Global Nuclear Medicine Radioisotopes Developers Landscape
- 4.1.1 Analysis by Year of Establishment
- 4.1.2 Analysis by Company Size
- 4.1.3 Analysis by Region
- 4.2 Global Nuclear Medicine Radioisotopes Product Landscape
- 4.2.1 Analysis by Type
- 4.2.2 Analysis by Technology
- 4.2.3 Analysis by Applications
- 5 Global Nuclear Medicine Radioisotopes Market Dynamics
- 5.1 Market Drivers and Constraints
- 5.2 SWOT Analysis
- 5.3 Porter’s Five Forces Model
- 5.4 Key Demand Indicators
- 5.5 Key Price Indicators
- 5.6 Industry Events, Initiatives, and Trends
- 5.7 Value Chain Analysis
- 6 Global Nuclear Medicine Radioisotopes Market Segmentation
- 6.1 Global Nuclear Medicine Radioisotopes Market by Radioisotope Type
- 6.1.1 Market Overview
- 6.1.2 Technetium-99m (Tc-99m)
- 6.1.3 Thallium-201 (Tl-201)
- 6.1.4 Iodine (I-123)
- 6.1.5 Fluorine-18, Rubidium-82 (Rb-82)
- 6.1.6 Iodine-131 (I-131)
- 6.1.7 Lutetium-177 (Lu-177)
- 6.1.8 Radium-223 (Ra-223)
- 6.1.9 Alpharadin
- 6.1.10 Actinium-225 (Ac-225)
- 6.1.11 Others
- 6.2 Global Nuclear Medicine Radioisotopes Market by Application
- 6.2.1 Market Overview
- 6.2.2 Oncology
- 6.2.3 Cardiology
- 6.2.4 Thyroid
- 6.2.5 Neurology
- 6.2.6 Other Applications
- 6.3 Global Nuclear Medicine Radioisotopes Market by End User
- 6.3.1 Market Overview
- 6.3.2 Hospital
- 6.3.3 Diagnostic labs
- 6.3.4 Others
- 6.4 Global Nuclear Medicine Radioisotopes Market by Region
- 6.4.1 Market Overview
- 6.4.2 North America
- 6.4.3 Europe
- 6.4.4 Asia Pacific
- 6.4.5 Latin America
- 6.4.6 Middle East and Africa
- 7 North America Nuclear Medicine Radioisotopes Market
- 7.1 Market Share by Country
- 7.2 United States of America
- 7.3 Canada
- 8 Europe Nuclear Medicine Radioisotopes Market
- 8.1 Market Share by Country
- 8.2 United Kingdom
- 8.3 Germany
- 8.4 France
- 8.5 Italy
- 8.6 Others
- 9 Asia Pacific Nuclear Medicine Radioisotopes Market
- 9.1 Market Share by Country
- 9.2 China
- 9.3 Japan
- 9.4 India
- 9.5 ASEAN
- 9.6 Australia
- 9.7 Others
- 10 Latin America Nuclear Medicine Radioisotopes Market
- 10.1 Market Share by Country
- 10.2 Brazil
- 10.3 Argentina
- 10.4 Mexico
- 10.5 Others
- 11 Middle East and Africa Nuclear Medicine Radioisotopes Market
- 11.1 Market Share by Country
- 11.2 Saudi Arabia
- 11.3 United Arab Emirates
- 11.4 Nigeria
- 11.5 South Africa
- 11.6 Others
- 12 Patent Analysis
- 12.1 Analysis by Type of Patent
- 12.2 Analysis by Publication year
- 12.3 Analysis by Issuing Authority
- 12.4 Analysis by Patent Age
- 12.5 Analysis by CPC Analysis
- 12.6 Analysis by Patent Valuation
- 12.7 Analysis by Key Players
- 13 Grants Analysis
- 13.1 Analysis by year
- 13.2 Analysis by Amount Awarded
- 13.3 Analysis by Issuing Authority
- 13.4 Analysis by Grant Application
- 13.5 Analysis by Funding Institute
- 13.6 Analysis by NIH Departments
- 13.7 Analysis by Recipient Organization
- 14 Clinical Trials Analysis
- 14.1 Analysis by Trial Registration Year
- 14.2 Analysis by Trial Status
- 14.3 Analysis by Trial Phase
- 14.4 Analysis by Therapeutic Area
- 14.5 Analysis by Geography
- 15 Funding Analysis
- 15.1 Analysis by Funding Instances
- 15.2 Analysis by Type of Funding
- 15.3 Analysis by Funding Amount
- 15.4 Analysis by Leading Players
- 15.5 Analysis by Leading Investors
- 15.6 Analysis by Geography
- 16 Partnership and Collaborations Analysis
- 16.1 Analysis by Partnership Instances
- 16.2 Analysis by Type of Partnership
- 16.3 Analysis by Leading Players
- 16.4 Analysis by Geography
- 17 Supplier Landscape
- 17.1 GE HealthCare
- 17.1.1 Financial Analysis
- 17.1.2 Product Portfolio
- 17.1.3 Demographic Reach and Achievements
- 17.1.4 Mergers and Acquisition
- 17.1.5 Certifications
- 17.2 Cardinal Health
- 17.2.1 Financial Analysis
- 17.2.2 Product Portfolio
- 17.2.3 Demographic Reach and Achievements
- 17.2.4 Mergers and Acquisition
- 17.2.5 Certifications
- 17.3 Curium
- 17.3.1 Financial Analysis
- 17.3.2 Product Portfolio
- 17.3.3 Demographic Reach and Achievements
- 17.3.4 Mergers and Acquisition
- 17.3.5 Certifications
- 17.4 Bayer AG
- 17.4.1 Financial Analysis
- 17.4.2 Product Portfolio
- 17.4.3 Demographic Reach and Achievements
- 17.4.4 Mergers and Acquisition
- 17.4.5 Certifications
- 17.5 Lantheus Holdings, Inc.
- 17.5.1 Financial Analysis
- 17.5.2 Product Portfolio
- 17.5.3 Demographic Reach and Achievements
- 17.5.4 Mergers and Acquisition
- 17.5.5 Certifications
- 17.6 Bracco Imaging S.p.A.
- 17.6.1 Financial Analysis
- 17.6.2 Product Portfolio
- 17.6.3 Demographic Reach and Achievements
- 17.6.4 Mergers and Acquisition
- 17.6.5 Certifications
- 17.7 PharmaLogic Holdings Corp.
- 17.7.1 Financial Analysis
- 17.7.2 Product Portfolio
- 17.7.3 Demographic Reach and Achievements
- 17.7.4 Mergers and Acquisition
- 17.7.5 Certifications
- 17.8 Eczacibasi-Monrol Nuclear Products
- 17.8.1 Financial Analysis
- 17.8.2 Product Portfolio
- 17.8.3 Demographic Reach and Achievements
- 17.8.4 Mergers and Acquisition
- 17.8.5 Certifications
- 17.9 Nordion Inc.
- 17.9.1 Financial Analysis
- 17.9.2 Product Portfolio
- 17.9.3 Demographic Reach and Achievements
- 17.9.4 Mergers and Acquisition
- 17.9.5 Certifications
- 17.10 NorthStar Medical Radioisotopes
- 17.10.1 Financial Analysis
- 17.10.2 Product Portfolio
- 17.10.3 Demographic Reach and Achievements
- 17.10.4 Mergers and Acquisition
- 17.10.5 Certifications
- 17.11 NTP Radioisotopes SOC Ltd
- 17.11.1 Financial Analysis
- 17.11.2 Product Portfolio
- 17.11.3 Demographic Reach and Achievements
- 17.11.4 Mergers and Acquisition
- 17.11.5 Certifications
- 17.12 Aenorasis
- 17.12.1 Financial Analysis
- 17.12.2 Product Portfolio
- 17.12.3 Demographic Reach and Achievements
- 17.12.4 Mergers and Acquisition
- 17.12.5 Certifications
- 17.13 Positron Corporation
- 17.13.1 Financial Analysis
- 17.13.2 Product Portfolio
- 17.13.3 Demographic Reach and Achievements
- 17.13.4 Mergers and Acquisition
- 17.13.5 Certifications
- 17.14 Nordion Inc. (Sotera Health Company)
- 17.14.1 Financial Analysis
- 17.14.2 Product Portfolio
- 17.14.3 Demographic Reach and Achievements
- 17.14.4 Mergers and Acquisition
- 17.14.5 Certifications
- 17.15 Siemens Healthineers
- 17.15.1 Financial Analysis
- 17.15.2 Product Portfolio
- 17.15.3 Demographic Reach and Achievements
- 17.15.4 Mergers and Acquisition
- 17.15.5 Certifications
- 18 Global Nuclear Medicine Radioisotopes Market - Distribution Model (Additional Insight)
- 18.1 Overview
- 18.2 Potential Distributors
- 18.3 Key Parameters for Distribution Partner Assessment
- 19 Key Opinion Leaders (KOL) Insights (Additional Insight)
- 20 Company Competitiveness Analysis (Additional Insight)
- 20.1 Very Small Companies
- 20.2 Small Companies
- 20.3 Mid-Sized Companies
- 20.4 Large Companies
- 20.5 Very Large Companies
- 21 Payment Methods (Additional Insight)
- 21.1 Government Funded
- 21.2 Private Insurance
- 21.3 Out-of-Pocket
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