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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Nuclear Medicine Radioisotopes Market Regional Analysis
In the forecast period, the United States is projected to lead the nuclear medicine radioisotopes market share with around 20 million nuclear medicine procedures are conducted per year. With a robust medical research infrastructure and continuous investments from governments as well private companies into developing improved patient solutions is one of the key factors for the market size.
Europe is another major player of the market that is witnessing growth due to increasing collaborations between influential healthcare companies. The region witnesses approximately 10 million procedures with 2 million therapeutic cases. Several companies are rapidly expanding their product portfolios as well with an aim to devise new drugs using latest technologies.
The Asia Pacific nuclear medicine radioisotopes market value is expected to witness an expediated boost, which can be accredited to rising fundings to set up latest infrastructure in the region. In October 2023, the Australian Nuclear Science and Technology Organization (Ansto) received a government funding of USD 12.8 million to set up a new nuclear medicine facility in Sydney. The region witnesses approximately 560,000 nuclear medicine procedures each year.
Nuclear Medicine Radioisotopes Market Report Snapshots
Nuclear Medicine Radioisotopes Market Size
Nuclear Medicine Radioisotopes Regional Analysis
Nuclear Medicine Radioisotopes Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 8.9 billion in 2023, driven by the increasing incidence of thyroid disorders across the globe.
The market is anticipated to grow at a CAGR of 8.0% during the forecast period of 2024-2032, likely to reach a market value of USD 17.9 billion by 2032.
The market demand is driven by the growing application of radioisotopes in cancer diagnostics and treatments, along with growth in investments and technical developments in the existing equipment.
The current market trend includes an emphasis on offering large scale radiopharmaceutical production. In June 2023, Westinghouse Electric Company developed a new approach to produce Actinium-225 (Ac-225) radioisotopes in commercial nuclear reactors, enabling its utility in advanced cancer treatments.
Based on radioisotope types, the market is divided into 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), Alpharadin, and Actinium-225 (Ac-225), among others.
Common application areas include oncology, cardiology, thyroid, and neurology, among others.
The key end-users in the market include hospitals and diagnostic labs, among others.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.
Key players involved in the market are GE HealthCare, Cardinal Health, Curium, Bayer AG, Lantheus Holdings, Inc., Bracco Imaging S.p.A., PharmaLogic Holdings Corp., Eczacibasi-Monrol Nuclear Products, Nordion Inc., NorthStar Medical Radioisotopes, NTP Radioisotopes SOC Ltd., Aenorasis, Positron Corporation, Nordion Inc. (Sotera Health Company) and Siemens Healthineers.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124