Nuclear Medicine/Radiopharmaceuticals Market Size, Share, Trends, Growth and Forecast 2032

Nuclear Medicine/Radiopharmaceuticals Market Insights

The global Nuclear Medicine/Radiopharmaceuticals Market size was valued at USD 5.59 Billion in 2023 and is predicted to reach USD 11.46 Billion by the end of 2032. The market is expected to grow with a CAGR of 8.3% during the forecast period. The report analyzes the global Nuclear Medicine/Radiopharmaceuticals Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Nuclear Medicine/Radiopharmaceuticals industry.

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Nuclear Medicine/Radiopharmaceuticals Market: Overview

The report covers forecasts and analysis for the nuclear medicine/radiopharmaceuticals market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the nuclear medicine/ radiopharmaceuticals market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the nuclear medicine/ radiopharmaceuticals market on a global as well as regional level.

In order to give the users of this report a comprehensive view of the nuclear medicine/radiopharmaceuticals market, we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein the product and services segment is benchmarked based on their market size, growth rate, and general attractiveness.

The report provides a company market share analysis in order to give a broader overview of the key players in the nuclear medicine/ radiopharmaceuticals market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the nuclear medicine/radiopharmaceuticals market on a global and regional basis.

Global Nuclear Medicine/Radiopharmaceuticals Market: Growth Analysis

Nuclear medicine is a medical stream that uses radioactive substances for the diagnosis and treatment of diseases. Radiopharmaceuticals used in nuclear medicine are radioactive compounds provided to the patient, and observed via particular imaging devices, for therapeutic and diagnostic purposes. SPECT (Single Photon Emission Computed Tomography) and PET (Positron Emission Tomography) scans are the two most widely used imaging modalities in nuclear medicine.

Factors such as a rise in cases of cancer and other target conditions targeted cancer treatment with the help of alpha radioimmunotherapy, initiatives to bridge the demand-supply gap of Mo-99, convenience of treatment, implementation of clear imaging procedure, and technological advancements will act as major driving factors in the growth of global nuclear medicine/ radiopharmaceuticals market. The application of radiopharmaceuticals in neurology and favorable government policies in developing regions will act as an opportunity for the market players in the nuclear medicine/radiopharmaceutical market. Nonetheless, the short half-life of radiopharmaceuticals, shortage in supply, difficulties in logistics, dearth of skilled personnel, and lack of awareness in low-income countries will restrict the growth of the global nuclear medicine/ radiopharmaceuticals market.

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Global Nuclear Medicine/Radiopharmaceuticals Market: Segmentation Analysis

The global nuclear medicine/radiopharmaceuticals market has been split into type, procedures, application, end user, and region. Based on type, the nuclear medicine/ radiopharmaceuticals market has been segmented into therapeutic and diagnostic. The diagnostic segment accounted for the highest market share in 2018 due to the growing patient population, rising awareness regarding the use of nuclear medicine, and availability of new radioisotopes. The therapeutic segment has been divided into alpha emitters, beta emitters, and brachytherapy isotopes. The diagnostic segment has been divided into PET radiopharmaceuticals and SPECT radiopharmaceuticals. The procedures segment has been segmented into cardiovascular, oncology, central nervous system, skeletal, endocrine, gastrointestinal, pulmonary, and others. The application segment has been segmented into cardiology, oncology, thyroid, neurology, and others. The oncology segment accounted for the highest market share in 2018 due to an increase in the number of cancer cases and use of the F-18 isotope. The end user segment has been segmented into research institutes, hospitals, diagnostic centers, and others.

Global Nuclear Medicine/Radiopharmaceuticals Market: Regional Analysis

North America will be the leading region during the forecast period. The development of unique technologies for the production of isotopes, the presence of leading market players, and the rapid uptake of new technologies will boost market growth in this region. Europe will be the second largest market. The major reasons are the presence of skilled professionals, a rise in awareness regarding the use of nuclear medicine, high cancer prevalence, and favorable reimbursement scenario. The Asia Pacific will propagate at a speedy rate over the forecast period due to rapid technological updation in the healthcare sector and increasing cases of cancer and other chronic ailments. The Latin American market will develop at a significant rate during the forecast period. The African and Middle Eastern countries are likely to experience perceptible growth in the estimated time-frame.

Nuclear Medicine/Radiopharmaceuticals Market: Report Scope

Global Lambda Cyhalothrin Market: Competitive Players

The report also includes detailed profiles of key players such as:

• GE Healthcare
• Curium
• Cardinal Health
• Bayer
• Advanced Accelerator Applications
• Lantheus Medical Imaging
• and Jubilant Life Sciences among others.

This report segments the Global Nuclear Medicine/Radiopharmaceuticals Market as follows:

Global Nuclear Medicine/Radiopharmaceuticals Market: By Type

• Therapeutic

• Alpha Emitters
• Beta Emitters
• Brachytherapy Isotopes

• Diagnostic

• PET Radiopharmaceuticals
• SPECT Radiopharmaceuticals

Global Nuclear Medicine/Radiopharmaceuticals Market: By Procedures

• Cardiovascular
• Oncology
• Central Nervous System
• Skeletal
• Endocrine
• Gastrointestinal
• Pulmonary
• Others

Global Nuclear Medicine/Radiopharmaceuticals Market: By Application

• Cardiology
• Oncology
• Thyroid
• Neurology
• Others

Global Nuclear Medicine/Radiopharmaceuticals Market: By End User

• Research Institutes
• Hospitals
• Diagnostic Centers
• Others

Global Nuclear Medicine/Radiopharmaceuticals Market: By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa