What is the Historic and Forecast Market Size of the Nuclear Medicine Market?
The nuclear medicine market size has grown rapidly in recent years. It evolved from $8.93 billion in 2024 to $10.2 billion in 2025 at a compound annual growth rate (CAGR) of 14.2%. The growth during this period can be attributed to the aging population, cancer diagnosis and staging, cardiology applications, neurological disorders, and regulatory approvals. It is forecasted to surge to $15.77 billion in 2029 at a CAGR of 11.5%. The growth can be credited to personalized medicine, oncology and neurology research, sustainable practices, research and development, and telemedicine services. Major trends in the forecast period include radioimmunotherapy, hybrid imaging, artificial intelligence (AI), emerging radiopharmaceuticals, and diagnostic imaging advancements.
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What are Key Drivers of the Nuclear Medicine Market Growth?
The rising prevalence of cardiovascular disease (CVD) and cancer are propelling the growth of the nuclear medicine market. Nuclear cardiac imaging assists in the quick diagnosis of cardiac diseases. Nuclear medicine therapy is used to treat cancer, often in conjunction with other therapies. The demand for nuclear medicine is growing due to the increasing prevalence of CVD and cancer. For instance, the American Cancer Society Inc. predicted nearly 1,958,310 new cancer cases in the US in 2023, up from more than 1,918,030 cases in 2022. Therefore, the escalating prevalence of cardiovascular diseases and cancer are accelerating the nuclear medicine market.
What are the Major Segments in the Nuclear Medicine Market?
1) By Type: Diagnostic, Therapeutic
2) By Application: Cardiology, Lymphoma, Thyroid, Neurology, Oncology, Other Application
3) By End-User: Hospitals and Clinics, Diagnostic Centers, Other End Users
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What Major Players are Operating in the Nuclear Medicine Market?
Leading companies such as 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 play a significant role in the nuclear medicine market.
What Trends are Shaping the Nuclear Medicine Market?
Major companies in the nuclear medicine market are innovating solutions like nuclear medicine cyclotrons to improve the production of radiopharmaceuticals and advance diagnostic imaging capabilities. GE Healthcare China launched its first batch of cyclotrons in December 2023 to enhance the production of medical isotopes used in molecular imaging and therapeutic applications, thereby boosting the nuclear medicine ecosystem.
Which Region is the Fastest Growing in the Nuclear Medicine Market?
In 2024, North America was the largest region in the nuclear medicine market. However, Asia-Pacific is expected to witness the fastest growth in the forecast period. The nuclear medicine market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Nuclear Medicine Market Report 2025 Offer?
Nuclear medicine refers to a specialized area of radiology that uses radioactive material inside the body to inspect the patient’s overall health condition. The Nuclear Medicine Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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