Global Nuclear Medicine Market
Description
Nuclear Medicine Market size was valued at USD 9.09 Billion in 2023 and is poised to grow from USD 9.88 Billion in 2024 to USD 21.95 Billion by 2032, growing at a CAGR of 10.7% during the forecast period (2025-2032).
The nuclear medicine market is poised for growth, driven by a strong product pipeline and supportive government initiatives aimed at enhancing access to these crucial diagnostic tools. Utilizing radiopharmaceuticals, nuclear medicine excels in evaluating organ function and detecting abnormalities early, particularly in conditions like thyroid cancer. Products such as betalutin and yttrium-90 microspheres are currently in clinical trials, indicating a vibrant innovation landscape. Despite moderate impacts from the COVID-19 pandemic, nuclear reactors remained operational, classified as essential services, ensuring continuity in supplying critical medicines. With prostate cancer incidence projected at 268,490 cases in 2022 in the U.S. and the recent FDA approval of Pluvicto for advanced cases, demand for nuclear medicine solutions is set to rise, emphasizing its importance in oncology.
Top-down and bottom-up approaches were used to estimate and validate the size of the Nuclear Medicine market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Nuclear Medicine Market Segments Analysis
Global Nuclear Medicine Market is segmented by diagnostics, therapeutics, application, end user and region. Based on diagnostics, the market is segmented into SPECT (single photon emission computed tomography) (technetium-99m, thallium-201, iodine-123, others) and PET (positron emission tomography) (fluorine-18, rubidium-82, others). Based on therapeutics, the market is segmented into alpha emitters (radium-223, actinium-225), beta emitters (iodine-131, yttrium-90, lutetium-177) and brachytherapy isotopes (iodine-125, palladium-103, cesium-131). Based on application, the market is segmented into oncology (thyroid cancer, bone metastasis, lymphoma), cardiology (myocardial perfusion imaging, ventricular function imaging), neurology (brain imaging, alzheimer’s disease) and others (gastroenterology, nephrology). Based on end user, the market is segmented into hospitals, diagnostic centers and research institutes. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Nuclear Medicine Market
The Nuclear Medicine market is significantly fueled by the critical role it plays in early detection and treatment of diseases, particularly cancer and cardiovascular conditions. In recent years, cancer emerged as the leading cause of death, responsible for nearly 10 million fatalities as per WHO statistics. Projections indicate that over 35 million new cancer cases are predicted in 2050, a 77% increase from the estimated 20 million cases in 2022. Additionally, cardiovascular diseases accounted for 32% of all deaths in 2019, resulting in 17.9 million deaths, with forecasts suggesting this number could escalate to 23.3 million by 2030. Consequently, the surge in disease prevalence is a key factor propelling the growth of nuclear medicine.
Restraints in the Nuclear Medicine Market
The nuclear medicine market faces notable restraints due to the increasing preference for alternative imaging techniques like MRI and CT scans, particularly for cancer detection and cardiovascular disease diagnosis. These alternatives are gaining traction globally, as they tend to be more cost-effective compared to nuclear medicine procedures. In developing countries, the adoption of MRI and CT scans is further amplified by favorable reimbursement policies, making these imaging methods more accessible. As healthcare providers and patients lean towards these non-nuclear options for various medical assessments, the nuclear medicine imaging market is expected to experience slowed growth in the coming years.
Market Trends of the Nuclear Medicine Market
The Nuclear Medicine market is experiencing significant growth driven by ongoing advancements in therapeutic applications. Companies are increasingly investing in innovative nuclear medicine therapies, motivated by their superior clinical outcomes relative to traditional treatments. The rising prevalence of cancer, particularly in regions with high disease burden, is propelling the demand for these therapies. Notably, regulatory milestones, such as the FDA's approval for Curium's Phase-III trial of lutetium Lu 177 PSMA I&T, signify a robust pipeline of radiopharmaceuticals targeting specific proteins like Prostate-Specific Membrane Antigen (PSMA). This trend, alongside the development of diverse treatments for various conditions, underscores the positive trajectory of the Nuclear Medicine market.
The nuclear medicine market is poised for growth, driven by a strong product pipeline and supportive government initiatives aimed at enhancing access to these crucial diagnostic tools. Utilizing radiopharmaceuticals, nuclear medicine excels in evaluating organ function and detecting abnormalities early, particularly in conditions like thyroid cancer. Products such as betalutin and yttrium-90 microspheres are currently in clinical trials, indicating a vibrant innovation landscape. Despite moderate impacts from the COVID-19 pandemic, nuclear reactors remained operational, classified as essential services, ensuring continuity in supplying critical medicines. With prostate cancer incidence projected at 268,490 cases in 2022 in the U.S. and the recent FDA approval of Pluvicto for advanced cases, demand for nuclear medicine solutions is set to rise, emphasizing its importance in oncology.
Top-down and bottom-up approaches were used to estimate and validate the size of the Nuclear Medicine market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Nuclear Medicine Market Segments Analysis
Global Nuclear Medicine Market is segmented by diagnostics, therapeutics, application, end user and region. Based on diagnostics, the market is segmented into SPECT (single photon emission computed tomography) (technetium-99m, thallium-201, iodine-123, others) and PET (positron emission tomography) (fluorine-18, rubidium-82, others). Based on therapeutics, the market is segmented into alpha emitters (radium-223, actinium-225), beta emitters (iodine-131, yttrium-90, lutetium-177) and brachytherapy isotopes (iodine-125, palladium-103, cesium-131). Based on application, the market is segmented into oncology (thyroid cancer, bone metastasis, lymphoma), cardiology (myocardial perfusion imaging, ventricular function imaging), neurology (brain imaging, alzheimer’s disease) and others (gastroenterology, nephrology). Based on end user, the market is segmented into hospitals, diagnostic centers and research institutes. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Nuclear Medicine Market
The Nuclear Medicine market is significantly fueled by the critical role it plays in early detection and treatment of diseases, particularly cancer and cardiovascular conditions. In recent years, cancer emerged as the leading cause of death, responsible for nearly 10 million fatalities as per WHO statistics. Projections indicate that over 35 million new cancer cases are predicted in 2050, a 77% increase from the estimated 20 million cases in 2022. Additionally, cardiovascular diseases accounted for 32% of all deaths in 2019, resulting in 17.9 million deaths, with forecasts suggesting this number could escalate to 23.3 million by 2030. Consequently, the surge in disease prevalence is a key factor propelling the growth of nuclear medicine.
Restraints in the Nuclear Medicine Market
The nuclear medicine market faces notable restraints due to the increasing preference for alternative imaging techniques like MRI and CT scans, particularly for cancer detection and cardiovascular disease diagnosis. These alternatives are gaining traction globally, as they tend to be more cost-effective compared to nuclear medicine procedures. In developing countries, the adoption of MRI and CT scans is further amplified by favorable reimbursement policies, making these imaging methods more accessible. As healthcare providers and patients lean towards these non-nuclear options for various medical assessments, the nuclear medicine imaging market is expected to experience slowed growth in the coming years.
Market Trends of the Nuclear Medicine Market
The Nuclear Medicine market is experiencing significant growth driven by ongoing advancements in therapeutic applications. Companies are increasingly investing in innovative nuclear medicine therapies, motivated by their superior clinical outcomes relative to traditional treatments. The rising prevalence of cancer, particularly in regions with high disease burden, is propelling the demand for these therapies. Notably, regulatory milestones, such as the FDA's approval for Curium's Phase-III trial of lutetium Lu 177 PSMA I&T, signify a robust pipeline of radiopharmaceuticals targeting specific proteins like Prostate-Specific Membrane Antigen (PSMA). This trend, alongside the development of diverse treatments for various conditions, underscores the positive trajectory of the Nuclear Medicine market.
Table of Contents
251 Pages
- 1. Introduction
- 1.1. Objectives of the Study
- 1.2. Scope of the Report
- 1.3. Definitions
- 2. Research Methodology
- 2.1. Information Procurement
- 2.2. Secondary & Primary Data Methods
- 2.3. Market Size Estimation
- 2.4. Market Assumptions & Limitations
- 3. Executive Summary
- 3.1. Global Market Outlook
- 3.2. Supply & Demand Trend Analysis
- 3.3. Segmental Opportunity Analysis
- 4. Market Dynamics & Outlook
- 4.1. Market Overview
- 4.2. Market Size
- 4.3. Market Dynamics
- 4.3.1. Driver & Opportunities
- 4.3.2. Restraints & Challenges
- 4.4. Porters Analysis & Impact
- 4.4.1. Competitive rivalry
- 4.4.2. Threat of substitute
- 4.4.3. Bargaining power of buyers
- 4.4.4. Threat of new entrants
- 4.4.5. Bargaining power of suppliers
- 5. Key Market Insights
- 5.1. Key Success Factors
- 5.2. Degree of Competition
- 5.3. Top Investment Pockets
- 5.4. Market Ecosystem
- 5.5. Market Attractiveness Index, 2024
- 5.6. PESTEL Analysis
- 5.7. Macro-Economic Indicators
- 5.8. Value Chain Analysis
- 5.9. Pricing Analysis
- 5.10. Regulatory Landscape
- 5.11. Patent Analysis
- 5.12. Case Studies
- 6. Global Nuclear Medicine Market Size by Diagnostics & CAGR (2025-2032)
- 6.1. Market Overview
- 6.2. SPECT (Single Photon Emission Computed Tomography)
- 6.2.1. Technetium-99m
- 6.2.2. Thallium-201
- 6.2.3. Iodine-123
- 6.2.4. Others
- 6.3. PET (Positron Emission Tomography)
- 6.3.1. Fluorine-18
- 6.3.2. Rubidium-82
- 6.3.3. Others
- 7. Global Nuclear Medicine Market Size by Therapeutics & CAGR (2025-2032)
- 7.1. Market Overview
- 7.2. Alpha Emitters
- 7.2.1. Radium-223
- 7.2.2. Actinium-225
- 7.3. Beta Emitters
- 7.3.1. Iodine-131
- 7.3.2. Yttrium-90
- 7.3.3. Lutetium-177
- 7.4. Brachytherapy Isotopes
- 7.4.1. Iodine-125
- 7.4.2. Palladium-103
- 7.4.3. Cesium-131
- 8. Global Nuclear Medicine Market Size by Applications & CAGR (2025-2032)
- 8.1. Market Overview
- 8.2. Oncology
- 8.2.1. Thyroid Cancer
- 8.2.2. Bone Metastasis
- 8.2.3. Lymphoma
- 8.3. Cardiology
- 8.3.1. Myocardial Perfusion Imaging
- 8.3.2. Ventricular Function Imaging
- 8.4. Neurology
- 8.4.1. Brain Imaging
- 8.4.2. Alzheimer’s Disease
- 8.5. Others
- 8.5.1. Gastroenterology
- 8.5.2. Nephrology
- 9. Global Nuclear Medicine Market Size by End User & CAGR (2025-2032)
- 9.1. Market Overview
- 9.2. Hospitals
- 9.3. Diagnostic Centers
- 9.4. Research Institutes
- 10. Global Nuclear Medicine Market Size & CAGR (2025-2032)
- 10.1. North America, (Diagnostics, Therapeutics, Applications, End User)
- 10.1.1. US
- 10.1.2. Canada
- 10.2. Europe, (Diagnostics, Therapeutics, Applications, End User)
- 10.2.1. UK
- 10.2.2. Germany
- 10.2.3. Spain
- 10.2.4. France
- 10.2.5. Italy
- 10.2.6. Rest of Europe
- 10.3. Asia-Pacific, (Diagnostics, Therapeutics, Applications, End User)
- 10.3.1. China
- 10.3.2. India
- 10.3.3. Japan
- 10.3.4. South Korea
- 10.3.5. Rest of Asia Pacific
- 10.4. Latin America, (Diagnostics, Therapeutics, Applications, End User)
- 10.4.1. Brazil
- 10.4.2. Rest of Latin America
- 10.5. Middle East & Africa, (Diagnostics, Therapeutics, Applications, End User)
- 10.5.1. GCC Countries
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
- 11. Competitive Intelligence
- 11.1. Top 5 Player Comparison
- 11.2. Market Positioning of Key Players, 2024
- 11.3. Strategies Adopted by Key Market Players
- 11.4. Recent Developments in the Market
- 11.5. Company Market Share Analysis, 2024
- 11.6. Company Profiles of All Key Players
- 11.6.1. Company Details
- 11.6.2. Product Portfolio Analysis
- 11.6.3. Company’s Segmental Share Analysis
- 11.6.4. Revenue Y-O-Y Comparison (2021-2023)
- 12. Key Company Profiles
- 12.1. GE Healthcare
- 12.1.1. Company Overview
- 12.1.2. Business Segment Overview
- 12.1.3. Financial Updates
- 12.1.4. Key Developments
- 12.2. Curium Pharma
- 12.2.1. Company Overview
- 12.2.2. Business Segment Overview
- 12.2.3. Financial Updates
- 12.2.4. Key Developments
- 12.3. Novartis
- 12.3.1. Company Overview
- 12.3.2. Business Segment Overview
- 12.3.3. Financial Updates
- 12.3.4. Key Developments
- 12.4. Cardinal Health
- 12.4.1. Company Overview
- 12.4.2. Business Segment Overview
- 12.4.3. Financial Updates
- 12.4.4. Key Developments
- 12.5. Lantheus Medical Imaging
- 12.5.1. Company Overview
- 12.5.2. Business Segment Overview
- 12.5.3. Financial Updates
- 12.5.4. Key Developments
- 12.6. Bracco Imaging S.P.A
- 12.6.1. Company Overview
- 12.6.2. Business Segment Overview
- 12.6.3. Financial Updates
- 12.6.4. Key Developments
- 12.7. Jubilant Life Sciences Ltd
- 12.7.1. Company Overview
- 12.7.2. Business Segment Overview
- 12.7.3. Financial Updates
- 12.7.4. Key Developments
- 12.8. Nordion (Canada), Inc.
- 12.8.1. Company Overview
- 12.8.2. Business Segment Overview
- 12.8.3. Financial Updates
- 12.8.4. Key Developments
- 12.9. Siemens Healthineers
- 12.9.1. Company Overview
- 12.9.2. Business Segment Overview
- 12.9.3. Financial Updates
- 12.9.4. Key Developments
- 12.10. Bayer AG
- 12.10.1. Company Overview
- 12.10.2. Business Segment Overview
- 12.10.3. Financial Updates
- 12.10.4. Key Developments
- 12.11. Eckert & Ziegler
- 12.11.1. Company Overview
- 12.11.2. Business Segment Overview
- 12.11.3. Financial Updates
- 12.11.4. Key Developments
- 12.12. Telix Pharmaceuticals
- 12.12.1. Company Overview
- 12.12.2. Business Segment Overview
- 12.12.3. Financial Updates
- 12.12.4. Key Developments
- 12.13. NorthStar Medical Radioisotopes, LLC
- 12.13.1. Company Overview
- 12.13.2. Business Segment Overview
- 12.13.3. Financial Updates
- 12.13.4. Key Developments
- 12.14. Shine Medical Technologies
- 12.14.1. Company Overview
- 12.14.2. Business Segment Overview
- 12.14.3. Financial Updates
- 12.14.4. Key Developments
- 12.15. Isotopia Molecular Imaging Ltd.
- 12.15.1. Company Overview
- 12.15.2. Business Segment Overview
- 12.15.3. Financial Updates
- 12.15.4. Key Developments
- 12.16. Institute of Isotopes Co., Ltd.
- 12.16.1. Company Overview
- 12.16.2. Business Segment Overview
- 12.16.3. Financial Updates
- 12.16.4. Key Developments
- 12.17. Mediso Ltd.
- 12.17.1. Company Overview
- 12.17.2. Business Segment Overview
- 12.17.3. Financial Updates
- 12.17.4. Key Developments
- 12.18. NTP Radioisotopes SOC Ltd.
- 12.18.1. Company Overview
- 12.18.2. Business Segment Overview
- 12.18.3. Financial Updates
- 12.18.4. Key Developments
- 12.19. ITM Isotopen Technologien München AG
- 12.19.1. Company Overview
- 12.19.2. Business Segment Overview
- 12.19.3. Financial Updates
- 12.19.4. Key Developments
- 12.20. Radiopharm Theranostics
- 12.20.1. Company Overview
- 12.20.2. Business Segment Overview
- 12.20.3. Financial Updates
- 12.20.4. Key Developments
- 13. Conclusion & Recommendation
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