Nuclear Medicine Market 2025-2034: Key Highlights, Growth Dynamics, and Emerging Trends
2334 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Nuclear Medicine Market?
The increasing incidence and prevalence of cardiovascular diseases (CVD) and cancer are expected to fuel the growth of the nuclear medicine market. CVDs, affecting the heart and blood vessels, and cancer, characterized by uncontrolled cell growth, can be diagnosed and treated using nuclear medicine techniques. Nuclear medicine is used to treat cancer, often in combination with other therapies. According to the American Cancer Society, an estimated 1,958,310 new cancer cases are expected to be diagnosed in the U.S. in 2023, a slight increase from 2022. The rising prevalence of CVD and cancer is therefore driving demand for nuclear medicine.
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#How Does the ProjectedNuclear Medicine Market Growth Compare Over the Forecast Period?
The nuclear medicine market has grown rapidly in recent years. It is expected to grow from $8.93 billion in 2024 to $10.2 billion in 2025, with a compound annual growth rate (CAGR) of 14.2%. This growth is attributed to the aging population, increasing cancer diagnoses, applications in cardiology, neurological disorders, and regulatory approvals.
The nuclear medicine market is expected to experience rapid growth, reaching $15.77 billion by 2029 at a CAGR of 11.5%. Growth is attributed to personalized medicine, oncology and neurology research, sustainable practices, research and development, and telemedicine services. Major trends include radioimmunotherapy, hybrid imaging, AI, emerging radiopharmaceuticals, and advancements in diagnostic imaging.
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What Are the Key Market Innovations in theNuclear Medicine Market Over the Coming Years?
Companies in the nuclear medicine market are focusing on innovations such as nuclear medicine cyclotrons to improve radiopharmaceutical production and diagnostic imaging. Cyclotrons are specialized accelerators used to produce radioactive isotopes for medical imaging and therapy. For example, in January 2024, GE Healthcare China, a U.S.-based medical tech company, launched its first cyclotrons at Chengdu Tianfu International Bio-Town, aiming to enhance early disease detection and personalized treatment.
Who Are the Top Companies Driving Innovation and Growth in theNuclear Medicine Market?
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
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Which Key Market Segments Comprise the Nuclear Medicine Market and Drive Its Revenue Growth?
The nuclear medicine market covered in this report is segmented –
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
Subsegments:
1) By Diagnostic: Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET), Gamma Cameras, Radiopharmaceuticals for Imaging, Other Diagnostic Imaging Techniques
2) By Therapeutic: Radiopharmaceuticals for Targeted Therapy, Beta Emitters, Alpha Emitters, Radiosynovectomy Agents, Other Therapeutic Applications
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Which Regions Are Emerging as Leaders in the Nuclear Medicine Market?
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 the nuclear medicine market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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