Press release
Diagnostic Radioisotopes Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Diagnostic Radioisotopes Market Size
In recent years, the market size of diagnostic radioisotopes has seen a significant increase. The market is projected to expand from $5.54 billion in 2024 to $6.1 billion in 2025, with a compound annual growth rate (CAGR) of 10.0%. The growth observed in the historic period can be associated with factors such as the discovery of radioactivity, the introduction of technetium-99m, application in clinical research, the era of the cold war and nuclear research, as well as the rise of positron emission tomography.
Over the ensuing years, the diagnostic radioisotopes market is projected to experience rigorous growth. It's anticipated to burgeon to $8.83 billion in 2029, with a compound annual growth rate (CAGR) of 9.7%. This growth during the forecast period can be linked to novel radioisotope production processes, heightened clinical uses, tailor-made patient care and safety, point-of-care imaging provisions, and environmental preservation and green chemistry practices. Among the predominant trends during this period will be the integration of hybrid imaging techniques, theranostics, molecular imaging techniques, utilization of cyclotrons or generators, and the emphasis on safety and radiation protection.
What Are the Primary Growth Drivers for the Diagnostic Radioisotopes Market?
The diagnostic radioisotopes market is anticipated to expand due to the surging prevalence of cancer. Cancer, a disease characterized by the unregulated division and destruction of body tissues by anomalous cells, is escalating because of lifestyle factors such as smoking, obesity, sedentary habits, contact with carcinogens, genetic susceptibility, and environmental causes. Radioisotopes serve as potent instruments in managing cancer as they enable accurate diagnosis, focused treatment, and efficient tracking of cancer growth or therapeutic response. For example, a report from the European Commission, a European governing body, in October 2023 stated that new cancer cases saw a 2.3% rise from 2020, totaling 2.74 million in 2022. In a similar vein, deaths caused by cancer showed a 2.4% rise compared to 2020. Accordingly, the escalating problem of cancer is fueling the growth of the diagnostic radioisotopes market.
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Who Are the Dominant Companies Influencing Diagnostic Radioisotopes Market Trends?
Major companies operating in the diagnostic radioisotopes market are Cardinal Health Inc., Sumitomo Heavy Industries Ltd., BWX Technologies Inc., Lantheus Holdings, Curium Pharma, Clarity Pharmaceuticals, Bracco Diagnostic Inc., Ion Beam Applications S.A., Nordion Inc., Eckert & Ziegler AG, NorthStar Medical Radioisotopes LLC, NTP Radioisotopes SOC Ltd, Global Medical Solutions Ltd., Isotopia Molecular Imaging Ltd., Cyclopharm Limited, Trasis NV, Orano Med LLC, ARTMS Inc., Radiomedix Inc., Coqu RadioPharmaceuticals Corp., IsoTherapeutics Group LLC
How Is the Diagnostic Radioisotopes Market Evolving?
Leading firms in the diagnostic radioisotopes sector are concentrating their efforts on refining radiopharmaceutical technology. Their goal is to heighten the accuracy of diagnoses, enhance outcomes for patients, and expand the use of nuclear medicine in healthcare. This involves developing groundbreaking compounds and techniques that allow for precise imaging and targeted therapy in nuclear medicine. Bracco Group, a diagnostics company based in Italy, offers a practical illustration of this trend. In March 2022, they unveiled Blue Earth Therapeutics, a spin-off dedicated to propelling the evolution of therapeutic radiopharmaceutical technology. The initial focus of this subsidiary is on creating precision-targeted therapeutic radiopharmaceuticals for prostate cancer, but they have plans to apply it to other cancer types in the future.
What Are the Different Segmentations in the Diagnostic Radioisotopes Market?
The diagnostic radioisotopes market covered in this report is segmented -
1) By Radioisotope: Technetium-99m, Thallium-201, Gallium-67, Iodine-123, FluoroDeoxyGlucose (FDG), Rubidium-82, Other Radioisotopes
2) By Imaging Modality: Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET), Beta Emitters
3) By Application: Oncology, Cardiology, Other Applications
4) By End User: Hospitals, Specialty Clinics, Diagnostic Centers, Academic And Research Institutes, Other End Users
Subsegments:
1) By Technetium-99m: Diagnostic Imaging, Cardiac Imaging, Oncology Imaging, Bone Scans, Renal Scans
2) By Thallium-201: Cardiac Imaging, Myocardial Perfusion Imaging, Stress Tests
3) By Gallium-67: Oncology Imaging (Lymphoma, Tumors), Inflammatory Disease Imaging, Infection Imaging
4) By Iodine-123: Thyroid Imaging, Neurological Imaging (Parkinson's Disease), Cardiac Imaging
5) By FluoroDeoxyGlucose (FDG): Positron Emission Tomography (PET) Imaging, Cancer Diagnosis And Staging, Neurological Imaging, Cardiac Imaging
6) By Rubidium-82: Cardiac PET Imaging, Myocardial Perfusion Imaging, Coronary Artery Disease Diagnosis
7) By Other Radioisotopes: Strontium-89 (Bone Pain Palliation), Iodine-131 (Thyroid Cancer Treatment), Samarium-153 (Bone Pain Palliation), Yttrium-90 (Cancer Treatment)
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Which Region Is at the Forefront of the Diagnostic Radioisotopes Market?
North America was the largest region in the diagnostic radioisotopes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diagnostic radioisotopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Diagnostic Radioisotopes Global Market Report?
- Market Size Analysis: Analyze the Diagnostic Radioisotopes Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Diagnostic Radioisotopes Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Diagnostic Radioisotopes Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Diagnostic Radioisotopes Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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