Nuclear Medicine Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025

Description

The Global Nuclear Medicine Market was valued at USD 16.4 billion in 2024 and is estimated to grow at a CAGR of 15.2% to reach USD 69.5 billion by 2034.

The rapid growth is being fueled by several factors, including rising rates of cancer and heart-related illnesses, increasing use of targeted radionuclide therapies, ongoing innovation in imaging technologies, and a steadily aging population. Nuclear medicine plays a vital role in modern healthcare by offering non-invasive methods for diagnosing and treating a wide range of conditions. Using radiopharmaceuticals enables detailed molecular-level insights that traditional imaging techniques often fail to capture. With increasing global emphasis on precision medicine, therapies that deliver radioactive isotopes directly to diseased cells are gaining prominence due to their ability to minimize harm to healthy tissue. Advances in theranostics, expansion of AI-driven healthcare tools, growth in hybrid imaging systems, and a rise in demand across developing regions are significantly boosting the market. The combination of diagnostics and targeted therapies is evolving into a central focus in this field, setting the stage for further global adoption and regulatory approval.

Market Scope
Start Year	2024
Forecast Year	2025-2034
Start Value	$16.4 Billion
Forecast Value	$69.5 Billion
CAGR	15.2%

In 2024, the diagnostics segment held a 66.1% share, supported by growing demand for early disease identification and advancements in nuclear imaging tools. Techniques such as PET and SPECT have become standard for detecting cancer, cardiovascular complications, and neurological disorders, offering high-accuracy results that assist with staging and monitoring. This rising clinical reliance on nuclear diagnostics continues to anchor segmental dominance.

The cardiology application segment will grow at a CAGR of 15.4% through 2034. Increasing cases of heart conditions, coupled with the rising adoption of nuclear imaging for cardiac assessments such as myocardial perfusion studies, are contributing to this steady growth. Enhancements in radiotracers and scanning systems are further improving diagnostic outcomes and clinical efficiency.

North America Nuclear Medicine Market held a 50.9% share in 2024. The region's significant prevalence of cancer and chronic illnesses, combined with a well-established healthcare system and high awareness of preventive diagnostics, continues to drive the adoption of nuclear medicine. Widespread usage of PET and SPECT across hospitals and imaging centers supports regional leadership. Additionally, growing patient education and focus on early intervention are amplifying market penetration.

Key players in the Global Nuclear Medicine Market include Siemens Healthineers, Cardinal Health, Curium Pharma, Boston Scientific, Jubilant Pharma, Sun Pharma, RadioMedix, Actinium Pharmaceuticals, Lantheus (SHINE Technologies), GE Healthcare, Sirtex, Bracco, Novartis, RLS Radiopharmacies, and Theragenics. Companies active in the nuclear medicine market are focusing on a blend of innovation, partnerships, and vertical integration to reinforce their competitive edge. A primary strategy involves investing in R&D to create novel radiopharmaceuticals and expand the pipeline for oncology, cardiology, and neurology applications. Several players are also collaborating with academic institutions, hospitals, and contract research organizations to accelerate clinical trials and broaden real-world adoption.

Product Code: 12229

Chapter 1 Methodology and Scope

1.1 Market scope and definitions
1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
1.3 Data mining sources
- 1.3.1 Global
- 1.3.2 Regional/country
1.4 Base estimates and calculations
- 1.4.1 Base year calculation
- 1.4.2 Key trends for market estimation
1.5 Primary research and validation
- 1.5.1 Primary sources
1.6 Forecast model
1.7 Research assumptions and limitations

Chapter 2 Executive Summary

2.1 Industry 360⁰ synopsis
2.2 Key market trends
- 2.2.1 Regional trends
- 2.2.2 Product trends
- 2.2.3 Application trends
- 2.2.4 End use trends
2.3 CXO perspectives: Strategic imperatives
- 2.3.1 Key decision points for industry executives
- 2.3.2 Critical success factors for market players
2.4 Future outlook and strategic recommendations

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Rising prevalence of cancer and cardiovascular diseases
  - 3.2.1.2 Increasing demand for early and accurate disease diagnosis
  - 3.2.1.3 Technological advancements in PET and SPECT imaging systems
  - 3.2.1.4 Expanding therapeutic applications of radiopharmaceuticals
  - 3.2.1.5 Supportive government initiatives and funding programs
- 3.2.2 Industry pitfalls and challenges
  - 3.2.2.1 High cost of nuclear medicine procedures and equipment
  - 3.2.2.2 Short half-life and limited availability of radioisotopes
- 3.2.3 Market opportunities
  - 3.2.3.1 Growing adoption of targeted radionuclide therapies
  - 3.2.3.2 Advancements in hybrid imaging technologies
  - 3.2.3.3 Increasing research in novel radiopharmaceuticals
3.3 Growth potential analysis
3.4 Reimbursement scenario
3.5 Regulatory landscape
- 3.5.1 North America
- 3.5.2 Europe
3.6 Technology landscape
- 3.6.1 Current technological trends
- 3.6.2 Emerging technologies
3.7 Pipeline analysis
3.8 Future market trends
3.9 Value chain analysis
3.10 Porter's analysis
3.11 PESTEL analysis
3.12 Gap analysis

Chapter 4 Competitive Landscape, 2024

4.1 Introduction
4.2 Company matrix analysis
4.3 Company market share analysis
- 4.3.1 Global
- 4.3.2 North America
- 4.3.3 Europe
4.4 Competitive positioning matrix
4.5 Competitive analysis of major market players
4.6 Key developments
- 4.6.1 Mergers & acquisitions
- 4.6.2 Partnerships & collaborations
- 4.6.3 New product launches
- 4.6.4 Expansion plans

Chapter 5 Market Estimates and Forecast, By Product, 2021 - 2034 ($ Mn)

5.1 Key trends
5.2 Diagnostics
- 5.2.1 Single photon emission computed tomography (SPECT) isotopes
  - 5.2.1.1 TC-99m
  - 5.2.1.2 I-123
  - 5.2.1.3 GA-67
  - 5.2.1.4 TL-201
  - 5.2.1.5 Other SPECT isotopes
- 5.2.2 Positron emission tomography (PET) isotopes
  - 5.2.2.1 F-18
  - 5.2.2.2 RB-82
  - 5.2.2.3 Other PET isotopes
5.3 Therapeutics
- 5.3.1 Beta emitters
  - 5.3.1.1 I-131
  - 5.3.1.2 Lu-177
  - 5.3.1.3 Y-90
  - 5.3.1.4 SM-153
  - 5.3.1.5 Re-186
  - 5.3.1.6 Other beta emitters
- 5.3.2 Brachytherapy isotopes
  - 5.3.2.1 Iridium-192
  - 5.3.2.2 Iodine-125
  - 5.3.2.3 Cesium-131
  - 5.3.2.4 Palladium-103
  - 5.3.2.5 Other brachytherapy isotopes
- 5.3.3 Alpha emitters
  - 5.3.3.1 RA-223
  - 5.3.3.2 Other alpha emitters

Chapter 6 Market Estimates and Forecast, By Application, 2021 - 2034 ($ Mn)

6.1 Key trends
6.2 Neurology
6.3 Cardiology
6.4 Oncology
6.5 Thyroid
6.6 Pulmonary
6.7 Other applications

Chapter 7 Market Estimates and Forecast, By End Use, 2021 - 2034 ($ Mn)

7.1 Key trends
7.2 Hospitals
7.3 Diagnostic centers
7.4 Research institutes
7.5 Other end use

Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2034 ($ Mn)

8.1 Key trends
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Spain
- 8.3.5 Italy
- 8.3.6 Netherlands
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 Japan
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 South Korea
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
8.6 Middle East and Africa
- 8.6.1 South Africa
- 8.6.2 Saudi Arabia
- 8.6.3 UAE

Chapter 9 Company Profiles

9.1 Actinium Pharmaceuticals
9.2 Boston Scientific
9.3 Bracco
9.4 Cardinal Health
9.5 Curium Pharma
9.6 GE Healthcare
9.7 Jubilant Pharma
9.8 Lantheus (SHINE Technologies)
9.9 Novartis
9.10 RadioMedix
9.11 RLS Radiopharmacies
9.12 Siemens Healthineers
9.13 Sirtex
9.14 Sun Pharma
9.15 Theragenics

Nuclear Medicine Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034