PUBLISHER: Market Research Future | PRODUCT CODE: 1565596
PUBLISHER: Market Research Future | PRODUCT CODE: 1565596
Global Nuclear Medicine Market Research Report Information by Type (Diagnosis [SPECT Radiopharmaceuticals {Tc99m, I-123, and Others} and PET Radiopharmaceuticals {F18, C11 Choline, and Others}] and Therapeutic (Alpha Emitters [Actinium-225 (Ac-225), Radium-223 (Ra-223), and Others], Beta Emitters [Yttrium-90 (Y-90), Lutetium-177 (Lu-177), and Others], and Brachytherapy Isotopes [Iodine-125 (I-125) and Others]), by Application (Neurology, Cardiology, Oncology [Prostate Cancer, Breast Cancer, Lung and Bronchus Cancer, Thyroid Cancer, Colorectal Cancer, and Others], and Others), by End User (Hospitals & Diagnostic Centers, Research Institutes, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2032
In 2023, the nuclear medicine market was estimated to be worth USD 9.84 billion. The Nuclear Medicine Market industry is anticipated to expand from USD 10.63 billion in 2024 to USD 27.96 billion by 2032. Technological advancements in nuclear medicine and the increasing applications of radioisotopes in the healthcare industry are the primary factors driving market growth. Additionally, the nuclear medicine market is being driven by the expansion of public-private funding for the research and development of new techniques, as well as the increasing research and development in the pharmaceutical and biotechnology industries to improve radiotherapy for the accurate diagnosis of diseases such as thyroid-related diseases, respiratory diseases, bone diseases, neurological diseases, and others.
Market segment insights
The Nuclear Medicine Market has been divided into two categories: diagnostic and therapeutic. The Nuclear Medicine Market has been segmented into neurology, cardiology, oncology, and other fields based on application. The Nuclear Medicine Market has been categorized as hospitals & diagnostic centers, research institutes, and others based on the end user.
Regional Perspectives
The market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World by region. As a result of the availability of products and the presence of active industry participants in the region, North America accounted for the largest market share of 42.42% in 2023. The European market is expected to experience substantial growth during the forecast period because of the growing number of individuals suffering from heart disease, Alzheimer's disease, and neurological problems, as well as the increasing demand for improved diagnostic and treatment processes. Additionally, the nuclear medicine market is expanding because of the adoption of enhanced radiopharmaceuticals, new product introductions, and mergers and acquisitions. The market in Asia-Pacific is expected to experience rapid growth because of the increasing number of cardiac patients and the development of advanced imaging techniques that utilize diagnostic instruments such as PET and SPECT. Additionally, clinicians are being facilitated in their access to multiple 2D and 3D images using a gamma camera to perform SPECT imaging techniques, which is propelling the nuclear medicine market in the region. Moreover, the nuclear medicine market in Japan accounted for the largest market share in 2023, while the nuclear medicine market in India is the fastest-growing market in the Asia-Pacific region.
Novartis AG (Switzerland), GE Healthcare (US), Cardinal Health (US), Eckert & Ziegler Group (Germany), Lantheus (US), Jubilant Radiopharma (Canada), Bayer AG (Germany), Siemens Healthineers (Germany), Curium Pharma (France), Bracco (Italy), and others are among the key companies in the Nuclear Medicine Market.