2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Major Innovations Are Driving the Accelerated Growth of the Nuclear Medicine Diagnostics Market?

The escalating demand for diagnostics in the field of nuclear medicine is anticipated to spur the growth of the nuclear medicine diagnostics market. Nuclear medicine employs radioactive materials within the body for the diagnosis of ailments or for targeting and eliminating sick or damaged organs and tissue (for therapeutic reasons). The diagnostic applications of nuclear medicine center predominantly around radiation and other lethal treatments. The popularity of nuclear medicine diagnostics is on the rise due to its benefits like precision in results and improved decision making in treating patients. As an illustration, a report by the UK-based World Nuclear Association advocating for nuclear power published in April 2022 stated that the annual treatments in nuclear medicine exceed 40 million, and the requirement for radioisotopes is growing at a rate of up to 5% annually. Moreover, it stated that 90% of the medical procedures involving radioisotopes happen in more than 10,000 hospitals globally. Therefore, the growing demand for nuclear medicine diagnostics is projected to boost the nuclear medicine diagnostics market’s expansion.

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#How Does the ProjectedNuclear Medicine Diagnostics Market Growth Compare Over the Forecast Period?

The market size of nuclear medicine diagnostics has experienced significant growth lately. It is projected to escalate from $7.16 billion in 2024 to $7.94 billion in 2025, with a compound annual growth rate (CAGR) of 11.0%. The historical growth can be credited to the progression in medical imaging, rising occurrence of chronic disorders, trends of an aging populace, application in cancer treatment, and high levels of diagnostic precision and accuracy.

Anticipated to witness significant growth in the forthcoming years, the nuclear medicine diagnostics market is set to expand to a value of $12.56 billion by 2029, reflecting a compound annual growth rate (CAGR) of 12.1%. The projected growth throughout the forecasted span can be associated with factors such as an increase in uses within the field of neurology, the integration with different imaging modalities, the application of precision medicine, a rising demand for theranostics, and worldwide initiatives towards disease elimination. Foreseen trends for the forecast period encompass a shift toward decentralized, small-scale radiopharmacy, the application of nuclear medicine in neurology, the use of radiomics and quantitative imaging for analysis, partnerships for research and development, with a focal point on radiation safety and dosimetry.

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What Are the Most Significant Market Trends Transforming theNuclear Medicine Diagnostics Market?

Leading corporations in the nuclear medicine diagnostics market are focusing on groundbreaking innovations, like state-of-the-art medical technologies, to gain a strategic advantage. These modern technologies in the medical sector aim to improve patient results, lift the care standard, and champion better health. For instance, Malaysia’s Gleneagles Hospital, a company offering medical and health care services, unveiled the Nuclear Medicine Unit in August 2023. This unit is a dedicated section within a hospital or medical institution, equipped with the most recent technology and operated by highly trained experts. The facility is created to enable early detection, diagnosis, and disease treatment using nuclear medicine imaging methods.

What Are the Top Market Players Propelling the Growth of theNuclear Medicine Diagnostics Industry?

Major companies operating in the nuclear medicine diagnostics market include Siemens AG, Bayer Aktiengesellschaft, Novartis AG, GE Healthcare Technologies Inc., Perkin Elmer Inc., Mallinckrodt Pharmaceuticals, Bracco Diagnostics Inc., Lantheus Holdings Inc., IBA Radiopharma Solutions, Curium SAS, Cardinal Health Inc., Eckert & Ziegler Strahlen- und Medizintechnik AG, Advanced Accelerator Applications, Telix Pharmaceuticals Limited, Nordion (Canada) Inc., NorthStar Medical Technologies LLC, SHINE Medical Technologies LLC, Navidea Biopharmaceuticals Inc., Cyclopharm Limited, Isologic Innovative Radiopharmaceuticals, Clarity Pharmaceuticals Limited, Actinium Pharmaceuticals Inc., Jubilant DraxImage Inc., PharmaLogic Holdings Corp, Institute of Isotopes Co Ltd., Global Medical Solutions LLC, Theragnostics Ltd., Eczacibasi-Monrol Nuclear Products Co.

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Which Primary Segments of the Nuclear Medicine Diagnostics Market Are Driving Growth and Industry Transformations?

The nuclear medicine diagnostics market covered in this report is segmented –

1) By Type: SPECT Radiopharmaceuticals, PET Radiopharmaceuticals

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

3) By End-User: Hospitals And Diagnostic Centers, Research Institutes

Subsegments:

1) By SPECT Radiopharmaceuticals: Technetium-99m-Based Radiopharmaceuticals, Iodine-123-Based Radiopharmaceuticals, Thallium-201-Based Radiopharmaceuticals, Other SPECT Radiopharmaceuticals

2) By PET Radiopharmaceuticals: Fluorine-18-Based Radiopharmaceuticals, Carbon-11-Based Radiopharmaceuticals, Gallium-68-Based Radiopharmaceuticals, Other PET Radiopharmaceuticals

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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Nuclear Medicine Diagnostics Market?# Market?

North America was the largest region in the nuclear medicine diagnostics market in 2024. The regions covered in the nuclear medicine diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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