The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Growth Overview
The nuclear medicine diagnostics market has seen rapid growth, expanding from $6.57 billion in 2023 to an anticipated $7.34 billion in 2024, marking a compound annual growth rate (CAGR) of 11.7%.

This growth is primarily driven by:

Advancements in medical imaging technologies

Rising prevalence of chronic diseases

Aging population trends

Clinical applications, particularly in oncology

Improved diagnostic accuracy and precision

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Future Market Projections
Continued expansion is expected, with market size projected to reach $11.31 billion by 2028, at a CAGR of 11.4%.

Key growth drivers include:

Expanding applications in neurology

Integration with other imaging modalities

Precision medicine approaches

Rising demand for theranostics

Global efforts towards disease eradication

Emerging Trends in Nuclear Medicine
Shift towards small-scale, decentralized radiopharmacy

Application of nuclear medicine in neurology

Radiomics and quantitative imaging analysis

Collaborations for research and development

Emphasis on radiation safety and dosimetry

Increasing Demand for Diagnostics
The demand for nuclear medicine diagnostics is expected to significantly drive market growth.

Benefits of nuclear medicine diagnostics:

Accurate results

Enhanced treatment decision-making

According to the World Nuclear Association (April 2022):

Over 40 million nuclear medicine treatments annually

Radioisotope demand increasing by up to 5% annually

90% of radioisotope-based procedures occur in over 10,000 hospitals worldwide

Key Market Players
Major companies in the market include:

Siemens AG

Bayer Aktiengesellschaft

Novartis AG

GE Healthcare Technologies Inc.

Telix Pharmaceuticals Limited

Nordion (Canada) Inc.

NorthStar Medical Technologies LLC

SHINE Medical Technologies LLC

Navidea Biopharmaceuticals Inc.

Theragnostics Ltd.

Sirona Complete Care

Nordic Nanovector ASA

Eczacibasi-Monrol Nuclear Products Co.

Advancements in Nuclear Medicine Diagnostics
Companies are introducing advanced medical technologies to enhance patient outcomes and healthcare standards.

For example:
In August 2023, Gleneagles Hospital in Malaysia launched a Nuclear Medicine Unit equipped with the latest technology for early disease detection, diagnosis, and treatment using nuclear medicine imaging techniques.

Strategic Acquisitions
In January 2022, Eckert & Ziegler acquired Tecnonuclear SA to expand its healthcare services in South America.

Tecnonuclear SA is a specialist in nuclear medicine based in Argentina.

Market Segmentation
By Type: SPECT Radiopharmaceuticals, PET Radiopharmaceuticals

By Application: Cardiology, Thyroid, Neurology, Oncology, Other Applications

By End-User: Hospitals and Diagnostic Centers, Research Institutes

Regional Insights
North America was the largest region in the nuclear medicine diagnostics market in 2023.

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