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Global Nuclear Medicine Market: Exploring the Drivers of 12% CAGR Growth and Challenges by 2030

 


The nuclear medicine market is projected to grow at a CAGR of 12% during the forecast period. Key drivers include the rising prevalence of cancer and cardiovascular diseases, increasing adoption of hybrid imaging systems, advancements in radiopharmaceuticals, and government investments in nuclear medicine research. However, restraints such as high costs of equipment and radiopharmaceuticals, regulatory hurdles, and limited availability of radioisotopes may hinder market growth.

The nuclear medicine market involves advanced diagnostic and therapeutic methods utilizing radioactive substances to evaluate and treat a wide range of diseases. Central to these methods are radiopharmaceuticals and molecular imaging technologies, which provide precise insights into physiological processes and enable targeted treatment delivery. Predominantly applied in fields such as oncology, cardiology, and neurology, nuclear medicine offers non-invasive solutions for early disease detection and effective therapies.

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Rising Prevalence of Cancer and Cardiovascular Diseases

The increasing global burden of cancer and cardiovascular diseases significantly drives the demand for nuclear medicine. These conditions require precise diagnostic tools and effective treatment strategies, which nuclear medicine offers through its capability to visualize cellular-level changes and deliver targeted radiation therapy. According to WHO, cardiovascular diseases are the leading cause of death globally, claiming an estimated 17.9 million lives annually as of 2019. Similarly, the International Agency for Research on Cancer reported nearly 20 million new cases of cancer in 2022, along with 9.7 million cancer-related deaths. Nuclear imaging modalities, such as PET and SPECT, are vital in the early detection, staging, and monitoring of these conditions. Radiopharmaceutical therapies, such as theranostics, provide tailored treatment options that improve outcomes. As awareness grows among healthcare professionals and patients, nuclear medicine adoption continues to rise, ensuring timely interventions and better prognosis for life-threatening diseases.

Next-Generation Radiopharmaceuticals: Enhancing Diagnostics and Therapy

The introduction of innovative radiopharmaceuticals is reshaping the nuclear medicine market by expanding its scope in diagnostics and therapeutics. Novel isotopes, such as Lutetium-177 and Actinium-225, are being developed for targeted radioligand therapy, offering precise cancer treatment with minimal damage to healthy tissues. On the diagnostic side, fluorine-based tracers and other innovative molecules enhance imaging capabilities for conditions like Alzheimer’s disease and neuroendocrine tumours. Significant investments in research and collaborations between pharmaceutical companies and academic institutions drive these advancements. By addressing limitations in existing isotopes and expanding therapeutic applications, these novel radiopharmaceuticals are making nuclear medicine more effective and accessible. This progress is fostering the adoption of personalized treatment approaches, improving patient outcomes, and fueling market growth.

Competitive Landscape Analysis

The global nuclear medicine market is marked by the presence of established and emerging market players such as GE Healthcare; Jubilant Life Sciences Ltd; Nordion, Inc.; Bracco Imaging S.P.A; The Institute for Radioelements (IRE); NTP Radioisotopes SOC Ltd.; The Australian Nuclear Science and Technology Organization; Eczacıbaşı-Monrol; Lantheus Medical Imaging, Inc; Eckert & Ziegler; Mallinckrodt; and Cardinal Health among others. Some of the key strategies adopted by market players include new product development, strategic partnerships and collaborations, and geographic expansion.  

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Market Segmentation

This report by Medi-Tech Insights provides the size of the nuclear medicine market at the regional- and country-level from 2023 to 2030. The report further segments the market based on product, application and end-user.

  • Market Size & Forecast (2023-2030), By Product, USD Million
    • Diagnostics
      • SPECT
    • TC-99m
    • TL-201
    • GA-67
    • I-123
    • Others
      • PET
    • F-18
    • SR-82/RB-82
    • PYLARIFY (piflufolastat F 18)
    • Illuccix (gallium Ga 68 gozetotide)
    • Others
    • Therapeutics
      • Alpha Emitters
    • RA-223
    • Others
      • Beta Emitters
    • I-131
    • Y-90
    • SM-153
    • Re-186
    • Lu-177
    • Others
      • Brachytherapy
    • Cesium-131
    • Iodine-125
    • Palladium-103
    • Iridium-192
    • Others
  • Market Size & Forecast (2023-2030), By Application, USD Million
    • Cardiology
    • Neurology
    • Oncology
    • Thyroid
    • Lymphoma
    • Bone Metastasis
    • Endocrine Tumor
    • Pulmonary Scans
    • Urology
    • Other
  • Market Size & Forecast (2023-2030), By End-user, USD Million
    • Hospitals
    • Diagnostic Centers
    • Others
  • Market Size & Forecast (2023-2030), By Region, USD Million
    • North America
      • US
      • Canada
    • Europe
      • UK
      • Germany
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Rest of Asia Pacific
    • Latin America
    • Middle East & Africa

 

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

Contact:

Ruta Halde
 Associate, Medi-Tech Insights
 +32 498 86 80 79
 info@meditechinsights.com 

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