PUBLISHER: The Business Research Company | PRODUCT CODE: 1653153
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653153
Nuclear medicine is a specialized field of radiology that utilizes radioactive materials inside the body to examine and assess the overall health condition of a patient.
The main types of nuclear medicine procedures can be categorized as diagnostic and therapeutic. Diagnostic nuclear medicine involves examinations to identify specific areas of strength and weakness, helping in the diagnosis of conditions, diseases, or illnesses. Applications of nuclear medicine include cardiology, lymphoma, thyroid disorders, neurology, oncology, and various other medical fields. The end-users of nuclear medicine services typically include hospitals and clinics, diagnostic centers, and other medical facilities.
The nuclear medicine market research report is one of a series of new reports from The Business Research Company that provides nuclear medicine market statistics, including nuclear medicine industry global market size, regional shares, competitors with a nuclear medicine market share, detailed nuclear medicine market segments, market trends and opportunities, and any further data you may need to thrive in the nuclear medicine industry. This nuclear medicine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The nuclear medicine market size has grown rapidly in recent years. It will grow from $8.93 billion in 2024 to $10.2 billion in 2025 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to aging population, cancer diagnosis and staging, cardiology applications, neurological disorders, regulatory approvals.
The nuclear medicine market size is expected to see rapid growth in the next few years. It will grow to $15.77 billion in 2029 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to personalized medicine, oncology and neurology research, sustainable practices, research and development, telemedicine services. Major trends in the forecast period include radioimmunotherapy, hybrid imaging, artificial intelligence (ai), emerging radiopharmaceuticals, diagnostic imaging advancements.
The growth of the nuclear medicine market is anticipated to be propelled by the increasing frequency and prevalence of cardiovascular diseases (CVD) and cancer. Cardiovascular diseases encompass various heart and blood vessel disorders, while cancer involves uncontrolled cell growth and spread to other body parts. Nuclear medicine, particularly nuclear cardiac imaging and therapy, plays a crucial role in the prompt diagnosis of CVDs and the treatment of cancer, often used in conjunction with other therapeutic options like surgery and chemotherapy. As indicated by the American Cancer Society Inc. in January 2023, the expected rise in new cancer cases in the US to 1,958,310 from 1,918,030 in 2022 underscores the growing demand for nuclear medicine.
The growing prevalence of chronic diseases is anticipated to drive the growth of the nuclear medicine market in the future. Chronic diseases are illnesses that persist for three months or longer and may worsen over time. This rise in chronic conditions creates a demand for accurate and timely diagnostics, personalized treatment, and effective monitoring. Nuclear medicine provides advanced imaging techniques and therapeutic applications, making it an essential aspect of managing chronic diseases. For example, in January 2023, the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, projected that there would be 142.66 million individuals with chronic diseases globally by 2050, up from 71.522 million in 2020. Consequently, the increasing prevalence of chronic diseases is fueling the growth of the nuclear medicine market.
Major companies in the nuclear medicine market are concentrating on creating innovative solutions, such as nuclear medicine cyclotrons, to enhance the production of radiopharmaceuticals and improve diagnostic imaging capabilities. Nuclear medicine cyclotrons are specialized particle accelerators that generate radioactive isotopes for medical imaging and therapy by directing high-energy particles at target materials, facilitating the synthesis of radiopharmaceuticals used in procedures like positron emission tomography (PET). For example, in January 2024, GE Healthcare China, a US-based medical technology company, launched its first batch of cyclotrons on December 1, 2023, at the Chengdu Tianfu International Bio-Town. These advanced particle accelerators play a crucial role in nuclear medicine, enabling the production of medical isotopes used in molecular imaging and therapeutic applications. This initiative aims to establish a comprehensive ecosystem for nuclear medicine, thereby enhancing capabilities in early disease detection and personalized treatment.
Leading companies in the nuclear medicine market are investing in the development of new medical imaging devices and scanners to gain a competitive advantage. Siemens Healthineers, a Germany-based healthcare company, launched the Symbia Pro.specta SPECT/CT scanner in June 2022, featuring advanced single photon emission computed tomography and computed tomography (SPECT/CT) imaging capabilities. This system, equipped with low-dose CT with up to 64 slices, automated SPECT motion correction, and an intuitive workflow, enhances the quality and accessibility of SPECT/CT imaging.
In April 2022, Mediso Ltd., a Hungary-based nuclear medicine imaging equipment manufacturer, acquired Bartec Technologies Ltd. to bolster its market position in the UK and Ireland. The acquisition leverages Bartec Technologies' resources in nuclear medicine and molecular imaging equipment and accessories, contributing to Mediso's enhanced presence in the region.
Major companies operating in the nuclear medicine market include Bracco Imaging S.P.A., Lantheus Medical Imaging Inc., NTP Radioisotopes SOC Ltd., Eckert & Ziegler Group, Jubilant Pharma LLC, Australian Nuclear Science & Technology Organisation, Cardinal Health Inc., GE Healthcare Technologies Inc., Curium Pharma, Advanced Accelerator Applications USA Inc., Nordion Inc., The Institute for Radioelements, Eczacibasi-Monrol Nuclear Products Co., Siemens Healthineers AG, Cambridge Isotope Laboratories Inc., Bayer AG, Medtronic plc, Triad Isotopes Inc., FUJIFILM Holdings Corporation, Mallinckrodt Pharmaceuticals plc, PharmaLogic Holdings Corp., Institute of Isotopes Co. Ltd., Sinotau Pharmaceuticals Limited, Isotopia Molecular Imaging Limited, SHINE Medical Technologies Inc., Global Medical Solutions LLC, Charles River Analytics Inc., Touchlight Genetics Ltd., Numares B.V., Tech-X Corporation, Karyopharm Therapeutics Inc., JSC Isotope Inc., NorthStar Medical Radioisotopes LLC
North America was the largest region in the nuclear medicine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this nuclear medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the nuclear medicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The nuclear medicine market consists of sales of bone density scanning, cardiac PET perfusion, cardiac PET sarcoid. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Nuclear Medicine Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nuclear medicine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nuclear medicine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The nuclear medicine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.