Nuclear Medicine Market – Trends Forecast Till 2031

Market Snapshot

Market Overview

The global Nuclear Medicine Market size was estimated at USD 5,460 million in 2024 and is projected to reach USD 11,920.25 million in 2031 at a CAGR of 11.8 % during the forecast period 2025-2031.

Nuclear medicine is a specialized area of medical imaging and therapy that uses radioactive substances to diagnose and treat various conditions, including cancers, heart diseases, and neurological disorders. It involves the use of radiopharmaceuticals, which are compounds that emit radiation, allowing for the detection and treatment of diseases at a molecular level. This field has gained significant traction over the years due to its ability to provide early and accurate diagnoses, which is essential for effective treatment planning. With advancements in technology and the growing focus on personalized medicine, nuclear medicine has become a critical component in modern healthcare systems.

The scope of the nuclear medicine market is broad, encompassing diagnostic imaging, such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT), as well as therapeutic applications, including targeted radiotherapy. The market serves hospitals, diagnostic imaging centers, and research institutions, where these advanced techniques are used to detect diseases, monitor their progression, and deliver targeted treatments. As an integral part of oncology, cardiology, and neurology, nuclear medicine plays a pivotal role in detecting abnormalities at the molecular and cellular levels, providing healthcare professionals with vital information for decision-making.

The nuclear medicine market is driven by several key trends, including the increasing prevalence of chronic diseases like cancer and cardiovascular conditions, which require advanced diagnostic and therapeutic interventions. The growing demand for minimally invasive procedures and personalized treatment options is also boosting the adoption of nuclear medicine techniques. Additionally, the rapid development of new radiopharmaceuticals and imaging technologies, such as hybrid PET/CT and PET/MRI scanners, is enhancing the accuracy and efficiency of nuclear medicine procedures. Innovations in radiopharmaceuticals, including targeted therapies and radioligand treatments, are expected to further expand the market, offering more precise and effective treatment options.

Several factors are influencing the growth of the nuclear medicine market, including the rising healthcare expenditure, technological advancements, and increasing awareness among healthcare providers and patients about the benefits of early diagnosis and personalized medicine. Governments and private sectors are investing in research and development to explore new applications for nuclear medicine, such as in neurodegenerative diseases like Alzheimer’s. However, challenges like the high cost of equipment, the limited availability of radiopharmaceuticals, and regulatory hurdles remain. Despite these challenges, the market continues to expand, driven by ongoing innovation and the growing demand for more targeted and efficient medical solutions.

Impacts USA tariff rates on the Nuclear Medicine Market

The imposition of President Donald Trump’s tariffs in April 2025, including a baseline 10% tariff on all U.S. imports and higher reciprocal tariffs ranging from 11% to 50% on specific countries, has introduced significant disruptions to the nuclear medicine market. Although pharmaceuticals, including some nuclear medicine products, were initially exempt from these tariffs, the threat of future tariffs on imported pharmaceuticals and raw materials has created uncertainty. Many critical radioisotopes and radiopharmaceutical components are sourced from countries like China, Canada, and EU nations, which face steep tariffs. This has led to increased costs for imported materials, prompting manufacturers to reconsider supply chains and potentially pass higher costs to healthcare providers and patients. The tariffs have also strained international collaborations for isotope production, risking delays in supply and reduced availability of critical diagnostic and therapeutic agents. Additionally, retaliatory tariffs from trading partners have complicated export markets for U.S.-produced nuclear medicine products, further challenging market stability.

Delvens Industry Expert's Standpoint

Experts in the Nuclear Medicine Market highlight several key trends driving growth and innovation. Nuclear medicine is a growing field that uses radioactive substances for the diagnosis and treatment of diseases like cancer, heart conditions, and neurological disorders. The market spans diagnostic imaging technologies like PET and SPECT, as well as therapeutic applications such as targeted radiotherapy. Key drivers include the increasing prevalence of chronic diseases, a demand for personalized medicine, and advancements in radiopharmaceuticals and imaging technologies. Additionally, innovations in hybrid imaging systems and targeted therapies are expanding the market's scope. Despite challenges such as high equipment costs and regulatory barriers, the nuclear medicine market continues to grow due to rising healthcare investments, technological progress, and greater awareness of its benefits for early diagnosis and precise treatment.

Analyst view on the impacts of U.S. tariff rates on the Nuclear Medicine Market

Looking ahead, the nuclear medicine market is poised for cautious growth despite the challenges posed by trade uncertainties. Advances in radiopharmaceutical development and imaging technologies are expected to drive demand for nuclear medicine, particularly in oncology, cardiology, and neurology. However, the market’s trajectory will depend on how companies adapt to tariff-related cost pressures, potentially by investing in domestic production or diversifying supply chains to low-tariff regions. The focus on precision medicine and theranostics is likely to spur innovation, with new targeted therapies gaining traction. Regulatory support and increased healthcare investments could bolster market resilience, but persistent trade barriers may temper expansion, especially in cost-sensitive regions. Collaborative efforts to stabilize global isotope supply chains will be critical to ensuring consistent access to nuclear medicine products, shaping a future where innovation and adaptability define market success.

Market Portfolio

Key Findings

• Based on Type: The nuclear medicine market is primarily segmented into diagnostic and therapeutic categories. Diagnostic Nuclear Medicine involves imaging techniques that use radiopharmaceuticals to diagnose diseases. These include SPECT (Single Photon Emission Computed Tomography) radiopharmaceuticals and PET (Positron Emission Tomography) radiopharmaceuticals, which are critical in visualizing organs and tissues. Therapeutic Nuclear Medicine involves the use of radiopharmaceuticals to treat various conditions. It is further divided into therapies using Alpha Emitters, which target small and specific tumors, Beta Emitters, commonly used for treating various cancers, and Brachytherapy Isotopes, which involve placing radioactive sources directly into or near the tumor. This segment is crucial for both diagnosis and treatment, with each radiopharmaceutical offering unique advantages depending on the condition being treated or diagnosed.

• Based on Application: The market is segmented based on the specific applications of nuclear medicine in diagnosing and treating various conditions. Diagnostic Applications are driven by SPECT and PET imaging techniques to detect diseases like cancer, neurological disorders, and heart diseases. Under Therapeutic Applications, treatments such as Thyroid Indications (using iodine-131 for thyroid cancer), Bone Metastasis (treating cancer that has spread to the bone), and Endocrine Tumors (targeting specific tumors like pheochromocytoma) are common. Other therapeutic uses include Lymphoma treatments, as well as a wide range of other cancer treatments. The application segment is significant in defining the treatment area and diagnostic methodologies, with PET and SPECT being essential for precision medicine.

• Based on Procedural Volume Assessment: This segmentation is based on the frequency of procedures performed. Diagnostic Procedures account for the majority of nuclear medicine activities, involving imaging for early disease detection, disease progression monitoring, and organ functioning assessment. Therapeutic Procedures, while fewer, are often more complex and specialized, involving the direct administration of radiopharmaceuticals to treat conditions like cancer. The procedural volume assessment helps healthcare providers plan for resources, track treatment trends, and optimize the use of medical technologies in hospitals and clinics.

• Based on End User: The end-user segmentation focuses on where nuclear medicine services are utilized. Hospitals are the largest users of nuclear medicine technologies, with most advanced imaging and treatment procedures taking place in hospital settings. Imaging Centers provide specialized diagnostic services, with a growing market share as patients prefer to access imaging technology outside of hospitals for routine scans. Academic & Research Centers focus on the development of new nuclear medicines and applications, contributing significantly to research and clinical trials. Other End Users include outpatient care facilities, specialty clinics, and government health services, which collectively represent a smaller but growing portion of the market.

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America region is projected to hold the largest market share. Factors such as Advancements in Nuclear Technology, Rising Prevalence of Chronic Diseases, Increasing Geriatric Population, Growth in Diagnostic Imaging, Government Investments and Funding, Expanding Applications in Oncology, Technological Innovations in Radiopharmaceuticals, Rising Demand for Personalized Medicine, Increasing Adoption of PET and SPECT Scanners, Growing Awareness and Early Diagnosis have triggered the Nuclear Medicine Market in the region.

Regional Analysis

North America to Dominate the Market

• In North America, particularly the U.S. and Canada, the market is driven by advanced healthcare infrastructure, high healthcare expenditure, and a growing demand for nuclear imaging in cancer diagnostics and treatment. The region's emphasis on innovation in medical technologies, alongside favorable reimbursement policies, supports the growth of the nuclear medicine market. There is also a robust demand for radiopharmaceuticals, aided by increasing healthcare awareness and well-established regulatory frameworks that ensure the safety and efficacy of nuclear medicine procedures.

• In Europe, the nuclear medicine market is influenced by both technological advancement and strong research institutions. Countries like Germany, France, and the UK have well-developed healthcare systems that support the adoption of advanced nuclear imaging technologies. While the market in Europe is slightly more fragmented due to varying levels of healthcare funding and access across countries, there is a growing focus on improving patient outcomes through personalized treatment plans, particularly in oncology, which fuels market growth.

• In the Asia-Pacific region, rapid advancements in medical technologies and increasing healthcare investments are driving the nuclear medicine market. Countries like Japan, China, and India are making significant strides in adopting nuclear medicine for diagnostic purposes, especially in oncology and cardiology. Increased awareness of nuclear medicine's advantages in early disease detection and treatment, combined with expanding healthcare infrastructure, positions the region for steady growth in the coming years.

• In Latin America, the nuclear medicine market is evolving, driven by improvements in healthcare access and growing demand for advanced diagnostic technologies. Brazil, Mexico, and Argentina are the leading countries in the region, where there is an increasing push to upgrade healthcare facilities and incorporate nuclear medicine for more precise and efficient diagnoses. However, challenges such as limited healthcare budgets and access to cutting-edge technology still hinder full market potential.

• The Middle East and Africa region shows varied growth due to differences in healthcare infrastructure. Wealthier nations like the UAE, Saudi Arabia, and Qatar have been investing heavily in modernizing healthcare facilities, including adopting nuclear medicine technologies. However, in sub-Saharan Africa, limited access to healthcare, lack of resources, and regulatory barriers slow the uptake of nuclear medicine, which affects the overall growth potential of the market in the region.

Competitive Landscape

• GE HealthCare
• Cardinal Health
• Curium
• Bayer AG
• Lantheus Holdings, Inc.
• Bracco Imaging S.p.A.
• PharmaLogic Holdings Corp.
• Eczacibasi-Monrol Nuclear Products
• NTP Radioisotopes SOC Ltd
• Nordion Inc.
• Advanced Accelerator Applications
• NorthStar Medical Radioisotopes
• Eckert & Ziegler
• Isotope JSC
• Siemens Healthineers
• Jubilant DraxImage, Inc.

Recent Developments

• In January 2023, NorthStar Medical Radioisotopes (US) reached a significant milestone by advancing its innovative technology for producing the crucial medical radioisotope, molybdenum-99 (Mo-99), without the use of uranium.

• In November 2022, Curium (France) announced that the US Food and Drug Administration (FDA) had approved DaTscan (Ioflupane I 123 Injection) to aid in the evaluation of adult patients with suspected Parkinsonian Syndromes.

• In October 2022, Blue Earth Diagnostics (UK) entered into a data-sharing agreement with Siemens Healthineers (Germany) and the University Hospital of the Technical University of Munich (TUM) for 18F-rhPSMA-7.3, an investigational PET imaging agent, to support the development of AI-based algorithms.

• In January 2021, Advanced Accelerator Applications (France) secured a multi-year exclusive supply agreement for lutetium-177 with the University of Missouri Research Reactor (MURR). Under this agreement, MURR will provide AAA with GMP-quality lutetium-177 chloride, the precursor for creating Lutathera and other Lu-177-based therapeutics.

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