Nuclear Medicine Market Size, Regional Outlook, And Competitive Strategies 2030

Nuclear Medicine Industry Overview

The global nuclear medicine market size is expected to reach USD 24.4 billion by 2030, expanding at a CAGR of 13.0% from 2022 to 2030, according to a new report by Grand View Research, Inc. The increasing prevalence of chronic diseases such as cancer & thyroid is anticipated to drive market growth. The impending approval of multiple radiopharmaceutical therapeutics during the forecast period will be a major driver for the market. For instance, in March 2022, Novartis AG received approval for Pluvicto (Lu 177) for the treatment of adult patients with prostate cancer.

U.S. nuclear medicine market size, by product, 2020 - 2030 (USD Billion)

Nuclear Medicine Market Segmentation

Grand View Research has segmented the global nuclear medicine market based on product type, application, and region:

Based on the Product Type Insights, the market is segmented into Diagnostic products and Therapeutic Products.

  • The diagnostic product segment held the highest market share in 2021 owing to the presence of a large patient base and the availability of advanced technologies such as Single-Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET).
  • The therapeutic segment is further divided into alpha emitters, beta emitters, and brachytherapy. The robust product pipeline coupled with the approval and commercialization of nuclear medicine therapeutics may fuel the segment growth. 

Based on the Application Insights, the market is segmented into Cardiology, Neurology, Oncology, Thyroid, Lymphoma, Bone Metastasis, Endocrine Tumor and Others.

  • The oncology segment dominated the market in 2021. Cancer is one of the leading causes of death worldwide. Factors such as unhealthy diet, smoking habits, and lack of exercise contribute to rising prevalence.
  • The cardiology segment is expected to witness high growth over the forecast period due to the increasing demand for the diagnosis of CVD. In March 2021, Bracco Diagnostics Inc. entered into a partnership with CardioNavix, LLC aimed at improving the patient reach of the novel cardiac PET imaging system. 

Nuclear Medicine Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Companies Profile & Market Share Insights

Leading market players are opting for geographical expansion, strategic collaborations, and partnerships through mergers and acquisitions in emerging and economically favorable regions. 

Some of the key players in the global nuclear medicine market include:

  • GE Healthcare
  • Jubilant Life Sciences Ltd
  • Nordion (Canada), Inc.
  • Bracco Imaging S.P.A
  • The institute for radioelements (IRE)
  • NTP Radioisotopes SOC Ltd.
  • The Australian Nuclear Science and Technology Organization
  • Eczacıbaşı-Monrol
  • Lantheus Medical Imaging, Inc.
  • Eckert & Ziegler
  • Mallinckrodt

Order a free sample PDF of the Nuclear Medicine Market Intelligence Study, published by Grand View Research.

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