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How has the nuclear medicine radioisotopes market grown in recent years?

In recent years, the nuclear medicine radioisotopes market has experienced impressive growth. The market is projected to expand from $8.21 billion in 2024 to $8.94 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.9%. The historical growth pattern of this sector can be traced back to factors such as the discovery of radioactivity, the advent of nuclear medicine, therapeutic applications, clinical research, and the demand from patients.

How is the nuclear medicine radioisotopes market size expected to evolve during the forecast period?

The market size for nuclear medicine radioisotopes is projected to experience substantial growth in the coming years, swelling to $12.4 billion in 2029 with a compound annual growth rate (CAGR) of 8.5%. This acceleration in growth can be associated with the increased expenditure on healthcare, the enlargement of healthcare infrastructure, rising consciousness about environmental sustainability, educational movements, and consciousness initiatives, as well as the upsurge in medical tourism. Key trends during this forecast period comprise the creation of new radioisotopes, innovations in production and supply chain, microfluidics and lab-on-a-chip technology, the utilization of artificial intelligence in the development of radiopharmaceuticals, and nanotechnology.

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Which key drivers are propelling the nuclear medicine radioisotopes market’s growth?

An increase in cardiovascular diseases is anticipated to fuel the expansion of the nuclear medicine radioisotope market. Cardiovascular diseases, which encompass illnesses affecting the heart and blood vessels, are on the rise due to inactive lifestyles, improper dietary habits, increasing obesity rates, and aging populations. Nuclear medicine radioisotopes play a crucial role in diagnosing, evaluating, and treating cardiovascular diseases by providing detailed insights into heart function, blood flow, and tissue health, required for precise diagnosis and efficient treatment planning. For example, data from the British Heart Foundation, a UK-based cardiovascular research charity, in September 2024 revealed that about 7.6 million people in the UK are suffering from heart and circulatory diseases, with around 4 million men and 3.6 million women afflicted by these conditions. This accounts for about 27% of all UK deaths, resulting in over 170,000 deaths annually or approximately 480 deaths daily, amounting to one death every three minutes. Consequently, the escalating occurrences of cardiovascular diseases are stimulating the growth of the nuclear medicine radioisotope market.

What are the market segments in the nuclear medicine radioisotopes industry?

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

1) By Type: Technetium-99m (Tc-99m), Thallium-201 (Tl-201), Iodine (I-123), Fluorine-18, Rubidium-82 (Rb-82), Iodine-131 (I-131), Lutetium-177 (Lu-177), Radium-223 (Ra-223) And Alpharadin, Other Types

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

3) By End-User: Hospitals, Diagnostic Centers, Specialty Clinics, Education And Research Institutes, Other End-Users

Subsegments:

1) By Technetium-99m (Tc-99m): Sodium Pertechnetate Tc-99m, Tc-99m MDP (Methylene Diphosphonate), Tc-99m HMPAO (Hexamethylpropyleneamine oxime)

2) By Thallium-201 (Tl-201): Thallous Chloride Tl-201, Thallium-201 for Cardiac Imaging

3) By Iodine-123 (I-123): Iodine-123 Sodium Iodide, Iodine-123 Ioflupane (DaTscan)

4) By Fluorine-18: FDG (Fluorodeoxyglucose) F-18, Fluoride-18 For Bone Imaging

5) By Rubidium-82 (Rb-82): Rb-82 For PET (Positron Emission Tomography) Imaging, Rb-82 For Cardiac Imaging

6) By Iodine-131 (I-131): I-131 Sodium Iodide, I-131 For Thyroid Cancer Treatment, I-131 For Hyperthyroidism Treatment

7) By Lutetium-177 (Lu-177): Lu-177-DOTATATE, Lu-177 For Prostate Cancer Treatment

8) By Radium-223 (Ra-223): Ra-223 Dichloride (Xofigo)

9) By Alpharadin (Radium-223 Alpha Emitters): Alpharadin For Bone Metastasis Treatment

10) By Other Types: Ac-225 For Targeted Alpha Therapy (TAT), Ac-225 For Cancer Treatment, Gallium-68 (Ga-68), Copper-64 (Cu-64), Yttrium-90 (Y-90)

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Which leading companies are shaping the growth of the nuclear medicine radioisotopes market?

Major companies operating in the nuclear medicine radioisotopes market are Cardinal Health Inc., Bayer AG, Siemens Healthineers AG, GE HealthCare Technologies, BWX Technologies Inc., Mallinckrodt Pharmaceuticals, Bracco Imaging S.p.A., Lantheus Holdings Inc., Curium Pharma, Australian Nuclear Science and Technology Organisation (ANSTO) Health, Eckert & Ziegler Strahlen, NorthStar Medical Radioisotopes, NTP Radioisotopes, Shine Medical Technologies Inc., Jubilant DraxImage Inc., Isotopia Molecular Imaging Ltd., Eczacibasi-Monrol Nuclear Products, International Isotopes Inc., Polatom Sp. z o.o., Radiomedix Inc., Positron Corporation

How are evolving market trends shaping nuclear medicine radioisotopes Strategies?

Leading businesses in the nuclear medicine radioisotopes market are emphasizing on the creation of groundbreaking products like the compact low-energy cyclotron, aiming to enhance the production and provide wider availability of radioisotopes, ensuring more effective and readily available diagnostic and therapeutic solutions. A compact, low-energy cyclotron works as a small particle accelerator generating radioisotopes for medical imaging and treatments in the field of nuclear medicine. For example, IBA, a supplier of Radiopharmaceutical production solutions from Belgium, introduced a novel accelerator known as Cyclone Key in January 2022. This avant-garde solution facilitates increased access to diagnostic solutions and supports in-house production of radiopharmaceuticals with its unique attributes such as compact and proficient design, full automation, multipurpose isotope production capabilities, simplicity in installation and operation, water-cooling, self-protection, and superior performance – all contributing to its versatility and dependability.

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Which geographic areas are influencing the growth of the nuclear medicine radioisotopes market?

North America was the largest region in the nuclear medicine radioisotopes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nuclear medicine radioisotopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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