Top Growth Trends in the Diagnostic Radioisotopes Market: Key Insights and Opportunities for 2025-2034
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How has the diagnostic radioisotopes market size evolved in recent years?
The diagnostic radioisotopes market has grown rapidly in recent years. It will rise from $5.54 billion in 2024 to $6.1 billion in 2025, at a CAGR of 10.0%. Growth drivers include the discovery of radioactivity, the introduction of technetium-99m, clinical and research applications, Cold War-era nuclear research, and the rise of positron emission tomography.
What are the predictions for the diagnostic radioisotopes market size in the coming years?
The diagnostic radioisotopes market is projected to grow to $8.83 billion by 2029, expanding at a CAGR of 9.7%. Growth is driven by new radioisotope production methods, broader clinical applications, and the growing focus on patient-centered care. Trends include hybrid imaging techniques, theranostics, and the use of cyclotrons or generators for radioisotope production.
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What key factors are fueling the growth of the diagnostic radioisotopes market?
The rising burden of cancer is expected to drive the growth of the diagnostic radioisotopes market. Cancer is becoming more prevalent due to lifestyle factors such as smoking and obesity. Radioisotopes are essential in diagnosing, treating, and monitoring cancer. For example, in October 2023, the European Commission reported a 2.3% increase in new cancer cases in 2022, reaching 2.74 million. Therefore, the growing cancer burden is driving the diagnostic radioisotopes market.
How is the global diagnostic radioisotopes market divided into key segments?
The diagnostic radioisotopes market covered in this report is segmented –
1) By Radioisotope: Technetium-99m, Thallium-201, Gallium-67, Iodine-123, FluoroDeoxyGlucose (FDG), Rubidium-82, Other Radioisotopes
2) By Imaging Modality: Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET), Beta Emitters
3) By Application: Oncology, Cardiology, Other Applications
4) By End User: Hospitals, Specialty Clinics, Diagnostic Centers, Academic And Research Institutes, Other End Users
Subsegments:
1) By Technetium-99m: Diagnostic Imaging, Cardiac Imaging, Oncology Imaging, Bone Scans, Renal Scans
2) By Thallium-201: Cardiac Imaging, Myocardial Perfusion Imaging, Stress Tests
3) By Gallium-67: Oncology Imaging (Lymphoma, Tumors), Inflammatory Disease Imaging, Infection Imaging
4) By Iodine-123: Thyroid Imaging, Neurological Imaging (Parkinson’s Disease), Cardiac Imaging
5) By FluoroDeoxyGlucose (FDG): Positron Emission Tomography (PET) Imaging, Cancer Diagnosis And Staging, Neurological Imaging, Cardiac Imaging
6) By Rubidium-82: Cardiac PET Imaging, Myocardial Perfusion Imaging, Coronary Artery Disease Diagnosis
7) By Other Radioisotopes: Strontium-89 (Bone Pain Palliation), Iodine-131 (Thyroid Cancer Treatment), Samarium-153 (Bone Pain Palliation), Yttrium-90 (Cancer Treatment)
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Who are the key firms paving the way for growth in the diagnostic radioisotopes market?
Major companies operating in the diagnostic radioisotopes market are Cardinal Health Inc., Sumitomo Heavy Industries Ltd., BWX Technologies Inc., Lantheus Holdings, Curium Pharma, Clarity Pharmaceuticals, Bracco Diagnostic Inc., Ion Beam Applications S.A., Nordion Inc., Eckert & Ziegler AG, NorthStar Medical Radioisotopes LLC, NTP Radioisotopes SOC Ltd, Global Medical Solutions Ltd., Isotopia Molecular Imaging Ltd., Cyclopharm Limited, Trasis NV, Orano Med LLC, ARTMS Inc., Radiomedix Inc., Coqu RadioPharmaceuticals Corp., IsoTherapeutics Group LLC
Which trends are expected to transform the diagnostic radioisotopes market?
Companies in the diagnostic radioisotopes market are working on developing advanced radiopharmaceutical technology to improve diagnostic precision, patient outcomes, and the range of nuclear medicine applications. For example, in March 2022, Bracco Group, an Italy-based diagnostic imaging company, launched Blue Earth Therapeutics, a subsidiary focused on developing next-generation therapeutic radiopharmaceuticals, initially targeting prostate cancer, with plans to expand into other cancer areas.
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What regions are contributing significantly to the growth of the diagnostic radioisotopes market?
North America was the largest region in the diagnostic radioisotopes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diagnostic radioisotopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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