Nuclear Medicine Market Size to Accumulate Around USD 38.8 Billion by 2032, Growing at a 15% CAGR – SNS Insider

Increasing cancer and cardiovascular disease cases, technological innovations in nuclear imaging, and the rising demand for non-invasive diagnostic techniques drives market growth.

Pune, Feb. 05, 2025 (GLOBE NEWSWIRE) — Nuclear Medicine Market Size & Growth Analysis:

According to SNS Insider, The Global Nuclear Medicine Market size was valued at USD 11.1 billion in 2023 and is projected to reach USD 38.8 billion by 2032, growing at a robust CAGR of 15% over the forecast period from 2024 to 2032. The growth of the nuclear medicine market is primarily attributed to the increasing use of nuclear imaging in diagnostics, advancements in personalized medicine, and the rising prevalence of chronic diseases.

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Nuclear Medicine Market Report Scope

Report Attributes Details
Market Size in 2023 US$ 11.1 billion
Market Size by 2032 US$ 38.8 billion
CAGR CAGR of 15% From 2024 to 2032
Base Year 2023
Forecast Period 2024-2032
Historical Data 2020-2022
Key Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Key Growth Drivers Rising chronic disease incidence, advancements in radiopharmaceuticals, and AI-driven imaging technologies

By Product, the diagnostics segment led in the nuclear medicine market with a 74% market share in 2023.

An increasing use of nuclear imaging technologies like PET and SPECT would further contribute to this market segment. Such nuclear imaging technologies have a vital role in the detection and monitoring of early diseases like cancer, cardiovascular diseases, and neurological disorders and therefore have great growth potential for the market.

The therapeutic segment is growing at the fastest pace, driven by the increasing uptake of targeted radiotherapy, mainly in cancer therapy.

In terms of application, the urology segment dominated the nuclear medicine market in 2023, holding 22% of the market share.

The use of nuclear medicine in the diagnosis and treatment of prostate cancer, along with increasing demand for minimally invasive diagnostic procedures, is driving the growth of this segment.

Although there are oncology and cardiology segments that seem to be experiencing a tremendous rate of growth. With the continuously increasing prevalence of cancer worldwide, the demand for targeted therapies as well as solutions for imaging diagnoses and monitoring progress will push both these segments rapidly.

By End Use, In 2023, the largest share of the nuclear medicine market was captured by hospitals with 54% of the market.

Hospitals remained the primary customers for nuclear medicine technologies since they have the appropriate infrastructure and staff to handle sophisticated diagnostic and therapeutic procedures.

The hospitals are still leading, but ambulatory care centers are growing the fastest. This is because outpatient services and cost-effective diagnostic solutions are pushing nuclear medicine technologies in non-hospital settings.

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Key Market Segments

Nuclear Medicine Market by Product

  • Diagnostics
  • SPECT
    • TC-99m
    • TL-201
    • GA-67
    • I-123
    • Others
  • PET
    • F-18
    • SR-82/RB-82
    • PYLARIFY (piflufolastat F 18)
    • Illuccix (gallium Ga 68 gozetotide)
    • Others
  • Therapeutics
    • Alpha Emitters
      • RA-223
      • Others
    • Beta Emitters
      • I-131
      • Y-90
      • SM-153
      • Re-186
      • Lu-177
      • Others
    • Brachytherapy
      • Cesium-131
      • Iodine-125
      • Palladium-103
      • Iridium-192
      • Others

Nuclear Medicine Market by Application

  • Cardiology
    • SPECT
    • PET
    • Therapeutic Applications
  • Neurology
  • Oncology
  • Thyroid
    • SPECT
    • Therapeutic Applications
  • Lymphoma
  • Bone Metastasis
    • SPECT
    • Therapeutic Applications
  • Endocrine Tumor
  • Pulmonary Scans
  • Urology
  • Other

Nuclear Medicine Market by End-use

  • Hospitals
  • Diagnostic Centers
  • Others

North America dominated the nuclear medicine market in 2023, accounting for nearly 43% of the global market share.

This is mainly because of the region’s advanced healthcare infrastructure, high adoption of nuclear imaging technologies, and the increasing prevalence of chronic diseases such as cancer and cardiovascular disorders.

The Asia-Pacific region is the fastest-growing market for nuclear medicine. These markets are mainly experiencing rapid healthcare expansion along with increasing healthcare investments and rising disease burdens that lead to increasing adoption of such advanced diagnostic technologies.

Major Players Analysis Listed in this Report are:

  • GE HealthCare (Discovery NM/CT 670, Discovery PET/CT 710)
  • Siemens Healthineers (Biograph Vision PET/CT, Symbia Intevo SPECT/CT)
  • Philips Healthcare (Vereos Digital PET/CT, BrightView SPECT)
  • Canon Medical Systems Corporation (Celesteion PET/CT, Aquilion ONE/GENESIS Edition)
  • Lantheus Medical Imaging, Inc. (DEFINITY, TechneLite)
  • Bracco Imaging S.p.A (MultiHance, CardioGen-82)
  • Cardinal Health (Lymphoseek, Zevalin)
  • Curium (Sodium Iodide I-131, Thallium-201)
  • Eckert & Ziegler (GalliaPharm, Yttriga)
  • Nordion (Canada), Inc. (Cobalt-60, Molybdenum-99)
  • NTP Radioisotopes SOC Ltd. (Fluorodeoxyglucose (FDG), Iodine-131)
  • Advanced Accelerator Applications (a Novartis company) (Lutathera, NETSPOT)
  • Jubilant Life Sciences Ltd. (Iodine-131, Molybdenum-99)
  • Eczacıbaşı-Monrol (FDG, Gallium-68)
  • Australian Nuclear Science and Technology Organisation (ANSTO) (Technetium-99m, Molybdenum-99)
  • Shine Technologies (Molybdenum-99, Lutetium-177)
  • Telix Pharmaceuticals, Inc. (Illuccix, TLX591)
  • Nordic Nanovector (Betalutin, Humalutin)
  • Y-mAbs Therapeutics, Inc. (Omburtamab, Naxitamab)
  • Blue Earth Diagnostics (Axumin, Fluciclovine F-18)


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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Nuclear Medicine Market by Product

8. Nuclear Medicine Market by Application

9. Nuclear Medicine Market by End-use

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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