What Has Been the Progress and Growth of the Nuclear Medicine Radioisotopes Market in Recent Years?
The nuclear medicine radioisotopes market has seen considerable growth due to a variety of factors.
• The nuclear medicine radioisotopes market has seen strong growth in recent years. It will grow from $8.21 billion in 2024 to $8.94 billion in 2025, at a compound annual growth rate (CAGR) of 8.9%.
Growth is driven by the discovery of radioactivity, the emergence of nuclear medicine, its therapeutic applications, clinical research advancements, and increased patient demand.
What Can Be Expected from the Nuclear Medicine Radioisotopes Market Size?
The nuclear medicine radioisotopes market is expected to maintain its strong growth trajectory in upcoming years.
• The nuclear medicine radioisotopes market is expected to grow strongly, reaching $12.4 billion by 2029 with a CAGR of 8.5%.
The growth is fueled by increasing healthcare spending, expanded healthcare infrastructure, growing awareness of sustainability, educational campaigns, and the rise of medical tourism. Key trends include new radioisotope development, supply chain innovations, microfluidics and lab-on-a-chip technology, AI in radiopharmaceuticals, and nanotechnology.
What Are the Critical Driver Fuelling The Nuclear Medicine Radioisotopes Market's Growth?
The increase in cardiovascular diseases is anticipated to boost the nuclear medicine radioisotope market's expansion. These diseases generally involve conditions affecting the heart and blood vessels, exacerbated by inactive lifestyles, poor eating habits, a rise in obesity rates, and an aging population. Nuclear medicine radioisotopes play a crucial role in diagnosing, assessing, and managing cardiovascular illnesses thanks to their ability to provide detailed information about heart function, perfusion, and tissue health, all necessary for accurate diagnosis and treatment. For instance, the British Heart Foundation's data from September 2024 states that approximately 7.6 million individuals in the UK suffer from heart and circulatory diseases, including about 4 million males and 3.6 million females. These conditions account for 27% of all UK deaths, leading to over 170,000 annual fatalities or around 480 deaths each day, translating to one death every three minutes. Hence, the surging prevalence of cardiovascular disease is fueling the nuclear medicine radioisotope market's growth.
How Is The Nuclear Medicine Radioisotopes Market segmented?
The nuclear medicine radioisotopes market covered in this report is segmented –
1) By Type: 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) And Alpharadin, Other Types
2) By Application: Oncology, Cardiology, Thyroid, Neurology, Other Applications
3) By End-User: Hospitals, Diagnostic Centers, Specialty Clinics, Education And Research Institutes, Other End-Users
Subsegments:
1) By Technetium-99m (Tc-99m): Sodium Pertechnetate Tc-99m, Tc-99m MDP (Methylene Diphosphonate), Tc-99m HMPAO (Hexamethylpropyleneamine oxime)
2) By Thallium-201 (Tl-201): Thallous Chloride Tl-201, Thallium-201 for Cardiac Imaging
3) By Iodine-123 (I-123): Iodine-123 Sodium Iodide, Iodine-123 Ioflupane (DaTscan)
4) By Fluorine-18: FDG (Fluorodeoxyglucose) F-18, Fluoride-18 For Bone Imaging
5) By Rubidium-82 (Rb-82): Rb-82 For PET (Positron Emission Tomography) Imaging, Rb-82 For Cardiac Imaging
6) By Iodine-131 (I-131): I-131 Sodium Iodide, I-131 For Thyroid Cancer Treatment, I-131 For Hyperthyroidism Treatment
7) By Lutetium-177 (Lu-177): Lu-177-DOTATATE, Lu-177 For Prostate Cancer Treatment
8) By Radium-223 (Ra-223): Ra-223 Dichloride (Xofigo)
9) By Alpharadin (Radium-223 Alpha Emitters): Alpharadin For Bone Metastasis Treatment
10) By Other Types: Ac-225 For Targeted Alpha Therapy (TAT), Ac-225 For Cancer Treatment, Gallium-68 (Ga-68), Copper-64 (Cu-64), Yttrium-90 (Y-90)
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What Trends Are Reshaping The Future Of The Nuclear Medicine Radioisotopes Market?
Principal businesses in the market for nuclear medicine radioisotopes are honing in on the creation of groundbreaking products, like the compact low-energy cyclotron, in an effort to enhance production and accessibility of radioisotopes, thereby ensuring more streamlined and available diagnostic and therapeutic choices. A compact, low-energy cyclotron is essentially a miniature particle accelerator that's designed to produce radioisotopes for medical imaging and treatments in the realm of nuclear medicine. To illustrate, in January 2022, IBA, a Belgium-based company specializing in radiopharmaceutical production solutions, introduced Cyclone Key, a novel accelerator to broaden access to diagnostic solutions and facilitate in-house manufacturing of radiopharmaceuticals. This revolutionary solution boasts unique attributes such as a sleek and efficient layout, fully automated operation, multi-isotope production features, user-friendly installation and operation, water cooling, self-shielding, plus high performance, thus rendering it adaptable and trustworthy.
Who Are the Key Players In The Nuclear Medicine Radioisotopes Market?
Major companies operating in the nuclear medicine radioisotopes market are:
• Cardinal Health Inc.
• Bayer AG
• Siemens Healthineers AG
• GE HealthCare Technologies
• BWX Technologies Inc.
• Mallinckrodt Pharmaceuticals
• Bracco Imaging S.p.A.
• Lantheus Holdings Inc.
• Curium Pharma
• Australian Nuclear Science and Technology Organisation (ANSTO) Health
• Eckert & Ziegler Strahlen
• NorthStar Medical Radioisotopes
• NTP Radioisotopes
• Shine Medical Technologies Inc.
• Jubilant DraxImage Inc.
• Isotopia Molecular Imaging Ltd.
• Eczacibasi-Monrol Nuclear Products
• International Isotopes Inc.
• Polatom Sp. z o.o.
• Radiomedix Inc.
• Positron Corporation
What Is The Most Dominant Region In The Nuclear Medicine Radioisotopes Market?
North America was the largest region in the nuclear medicine radioisotopes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nuclear medicine radioisotopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
