Nuclear medicine has become an essential pillar of modern diagnostics and targeted therapy. By utilizing radiopharmaceuticals to visualize organ function and detect disease at early stages, nuclear medicine enables precision-driven healthcare decisions. The increasing prevalence of chronic diseases, coupled with advancements in hybrid imaging technologies, is driving substantial growth in this sector.

The global nuclear medicine market was valued at US$ 18.6 Bn in 2024 and is projected to expand at a CAGR of 10.8% from 2025 to 2035, reaching US$ 57.3 Bn by the end of 2035. This remarkable growth reflects technological progress, expanding clinical applications, and rising demand for early and accurate disease diagnosis.

Understanding Nuclear Medicine

Nuclear medicine is a specialized branch of medical imaging that uses small quantities of radioactive substances, known as radiopharmaceuticals, to diagnose and treat diseases. Unlike conventional imaging techniques, nuclear medicine evaluates how tissues and organs function at a molecular level.

Two primary imaging modalities dominate the field:

• Single Photon Emission Computed Tomography (SPECT)
• Positron Emission Tomography (PET)

Beyond diagnostics, nuclear medicine also includes targeted radionuclide therapy, which selectively destroys cancer cells while minimizing damage to surrounding healthy tissues.

Analysts’ Viewpoint

Industry analysts observe historic growth in nuclear medicine due to rapid technological advancements in imaging systems and the increasing burden of chronic illnesses such as cancer and cardiovascular diseases.

PET and SPECT technologies continue to evolve, enhancing diagnostic precision and enabling early detection. However, regulatory complexities, high procedure costs, and isotope supply shortages present challenges to sustained expansion.

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Key Market Drivers

1. Growing Adoption of Hybrid Imaging Systems

Hybrid imaging systems such as PET/CT and SPECT/CT combine functional and anatomical imaging into a single scan. This integration significantly improves diagnostic accuracy and treatment planning.

Hospitals and imaging centers are increasingly investing in hybrid systems due to:

• Enhanced disease localization
• Improved workflow efficiency
• Reduced radiation exposure
• Better monitoring of treatment response

Hybrid imaging is particularly valuable in oncology, cardiology, and neurology.

2. Increased Demand for Early and Accurate Diagnosis

Early detection is critical for improving survival rates and reducing treatment costs. Nuclear medicine provides metabolic and functional insights that traditional imaging cannot offer.

The growing global geriatric population further contributes to demand, as elderly individuals are more prone to chronic diseases requiring frequent diagnostic evaluation.

Market Segmentation

By Product Type

Diagnostic Products (Leading Segment)

Diagnostic products dominate the nuclear medicine market due to rising demand for disease detection technologies.

SPECT Radiopharmaceuticals

• Technetium-99m (TC-99m)
• Thallium-201 (Tl-201)
• Gallium-67 (GA-67)
• Iodine-123 (I-123)
• Others

PET Radiopharmaceuticals

• Fluorine-18 (F-18)
• Rubidium-82/Strontium-82
• Nitrogen-13
• Carbon-11
• Others

Innovation in PET and SPECT imaging continues to improve image quality while minimizing radiation exposure.

Therapeutic Products

Therapeutic nuclear medicine includes:

Alpha Emitters

• Radium-223
• Bismuth-213

Beta Emitters

• Iodine-131
• Yttrium-90
• Lutetium-177
• Samarium-153
• Others

Brachytherapy Isotopes

• Cesium-131
• Iodine-125
• Palladium-103
• Iridium-192

Targeted radiotherapy is expanding rapidly, particularly in oncology applications such as lymphoma and bone metastasis treatment.

By Application

• Cardiology
• Neurology
• Oncology
• Thyroid
• Lymphoma
• Bone Metastasis
• Endocrine Tumors
• Others

Oncology remains the largest application segment due to increasing cancer prevalence worldwide.

By End-user

• Hospitals and Clinics
• Diagnostic Centers
• Research Laboratories

Hospitals and diagnostic centers account for the largest share due to expanding imaging infrastructure.

Regional Outlook

North America – Leading Region

North America dominates the global nuclear medicine market due to:

• Advanced healthcare infrastructure
• High R&D investment
• Widespread adoption of hybrid imaging systems
• Strong regulatory framework
• High prevalence of chronic diseases

Europe follows closely, while Asia Pacific is expected to witness rapid growth driven by expanding healthcare access in countries such as China and India.

Competitive Landscape

The nuclear medicine market is competitive, with leading players focusing on innovation, partnerships, and strategic expansions.

Key Companies Profiled:

• Cardinal Health
• Jubilant Pharma Company
• The Bracco Group
• Nordion (Canada) Inc.
• NTP Radioisotopes SOC Ltd.
• ECZACIBAŞI-MONROL
• Lantheus
• China Isotope & Radiation Corporation
• Eckert & Ziegler Medical
• Mallinckrodt plc
• GE HealthCare
• Blue Earth Diagnostics
• NorthStar Medical Radioisotopes
• Curium Pharma
• Novartis AG
• Bayer AG

These companies are investing in radiopharmaceutical innovation and expanding production capacities to address isotope supply constraints.

Recent Industry Developments

• June 2025: GE HealthCare received U.S. FDA approval for its Vizamyl PET imaging agent for beta-amyloid detection, enhancing diagnostic confidence in neurological disorders.
• March 2025: Actinium Pharmaceuticals announced ATNM-400, a first-in-class radiotherapy targeting prostate cancer through a novel mechanism.

Such developments highlight the accelerating pace of innovation in nuclear medicine.

Market Challenges

Despite strong growth prospects, the industry faces:

• High costs of nuclear medicine procedures
• Complex regulatory approval processes
• Isotope supply chain limitations

Addressing these challenges will be crucial for sustained market expansion.

Conclusion

With a projected market value of US$ 57.3 Bn by 2035, nuclear medicine is poised to become a cornerstone of precision diagnostics and targeted therapy. Technological innovation, increasing chronic disease prevalence, and growing adoption of hybrid imaging systems are shaping a promising future for the industry.

As healthcare systems increasingly prioritize early detection and personalized treatment, nuclear medicine will continue to play a transformative role in global patient care.

Frequently Asked Questions (FAQs)

1. What is the size of the nuclear medicine market?

The global nuclear medicine market was valued at US$ 18.6 Bn in 2024.

2. What is the projected growth rate?

The market is expected to grow at a CAGR of 10.8% from 2025 to 2035.

3. Which segment dominates the market?

Diagnostic products, particularly PET and SPECT imaging solutions, lead the market.

4. Which region holds the largest share?

North America is the leading region due to advanced healthcare infrastructure and technology adoption.

5. What are the key challenges in the nuclear medicine market?

Major challenges include regulatory hurdles, high testing costs, and isotope supply shortages.