PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1638905
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1638905
Nuclear Medicine Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Nuclear Medicine Market reached USD 13.6 billion in 2023 and is poised for robust growth, with a projected CAGR of 16.3% from 2024 to 2032. Key growth drivers include the rising incidence of cancer and cardiovascular diseases, a strong demand for non-invasive diagnostic techniques, and continuous innovation in radiopharmaceuticals. These factors contribute significantly to market expansion as healthcare providers and patients increasingly prioritize advanced diagnostic and therapeutic options.
Governments and research organizations invest extensively in nuclear medicine research and development. These investments aim to enhance healthcare infrastructure, broaden diagnostic access, and improve public health outcomes. Developed countries have launched national initiatives that provide funding for cutting-edge imaging technologies and radiopharmacy infrastructure, advancing diagnostic capabilities and supporting the adoption of nuclear medicine solutions.
Segment-wise, the market is divided into diagnostics and therapeutics, with the diagnostics segment generating USD 9.4 billion in revenue in 2023. Emerging markets are experiencing rising healthcare investments and improved infrastructure, enabling greater access to advanced nuclear imaging tools. Increased rates of chronic diseases in these regions further propel demand for nuclear diagnostics. Nuclear imaging methods, especially myocardial perfusion imaging (MPI), play a crucial role in cardiology by evaluating blood flow, identifying heart diseases, and assessing cardiac function. As lifestyle changes and an aging population drive up heart disease prevalence globally, the need for cardiac imaging through nuclear diagnostics continues to rise.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $13.6 Billion |
| Forecast Value | $54.7 Billion |
| CAGR | 16.3% |
Based on end-use, the nuclear medicine market spans hospitals, diagnostic centers, research institutes, and other facilities. Hospitals were the dominant segment in 2023 and are projected to reach USD 33.3 billion by 2032. Investments in advanced imaging technologies and the employment of specialized nuclear medicine professionals enable hospitals to offer a broad range of nuclear medicine applications, from diagnostics to theranostics. Hospitals are also increasingly adopting hybrid imaging systems, such as PET/CT, SPECT/CT, and PET/MRI, which enhance diagnostic precision by integrating anatomical and functional imaging. These sophisticated systems are typically housed in well-resourced hospital environments, leading to higher patient volumes.
North America accounted for USD 7 billion in nuclear medicine revenue in 2023, with a forecasted CAGR of 15.6% through 2032. The region's advanced healthcare infrastructure facilitates the adoption of nuclear imaging technologies, especially hybrid imaging systems like PET/CT and SPECT/CT. North America's well-equipped hospitals, specialty clinics, and diagnostic centers are well-suited to integrating advanced nuclear medicine solutions. Additionally, an aging population increasingly susceptible to chronic and age-related conditions, including Alzheimer's and various cancers, further amplifies the demand for nuclear diagnostics for early detection and personalized treatment strategies.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates & calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Growing prevalence of chronic diseases
- 3.2.1.2 Rising technological advancements in nuclear medicine
- 3.2.1.3 Rise in healthcare expenditure
- 3.2.1.4 Favorable government initiatives
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 High cost of radiotherapy
- 3.2.2.2 Short half-life of radiopharmaceuticals
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Regulatory landscape
- 3.5 Reimbursement scenario
- 3.6 Technology landscape
- 3.6.1 Core technologies
- 3.6.2 Adjacent technologies
- 3.7 Future market trends
- 3.8 Pipeline analysis
- 3.9 Porter's analysis
- 3.10 PESTEL analysis
- 3.11 Gap analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company matrix analysis
- 4.3 Competitive analysis of major market players
- 4.4 Competitive positioning matrix
- 4.5 Strategy dashboard
Chapter 5 Market Estimates and Forecast, By Product, 2021 - 2032 ($ 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
- 5.2.1 Single Photon Emission Computed Tomography (SPECT) 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
- 5.3.1 Beta emitters
Chapter 6 Market Estimates and Forecast, By Application, 2021 - 2032 ($ 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 - 2032 ($ Mn)
- 7.1 Key trends
- 7.2 Hospitals
- 7.3 Diagnostic centres
- 7.4 Research institutes
- 7.5 Other end users
Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2032 ($ 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
- 1.1.1 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
- 9.9 Novartis
- 9.10 RadioMedix
- 9.11 RLS Radiopharmacies
- 9.12 Siemens Healthineers
- 9.13 Sirtex
- 9.14 Sun Pharma
- 9.15 Theragenics
