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Rising Cancer And Heart Disease Rates Is Driving Forces Behind The Growth Of The Medical Isotope Market Driver: Leading Transformation in the Medical Isotopes Market in 2025
Medical Isotopes Market Size
The rising rates of cancer and heart disease are expected to drive the growth of the medical isotope market. The increasing prevalence of these diseases is attributed to factors like aging, lifestyle choices, environmental exposures, and genetic predispositions. Medical isotopes are used in diagnostic imaging and therapies for cancer and heart disease. In February 2024, the WHO projected that cancer cases would rise by 77% by 2050. Additionally, in September 2024, the British Heart Foundation reported that heart and circulatory diseases affected around 7.6 million people in the UK, with a rise in associated deaths. Hence, the growing rates of cancer and heart disease are propelling the medical isotope market.
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What is the future CAGR of the medical isotopes market, and how will it impact industry expansion?
The medical isotopes market will expand from $6.8 billion in 2024 to $7.35 billion in 2025 at a CAGR of 8.1%, fueled by advancements in nuclear medicine, demand for diagnostic imaging, and expanding pharmaceutical applications.
The medical isotopes market will grow to $9.92 billion by 2029 at a CAGR of 7.8%, driven by public health initiatives and regulatory changes. Key trends include growth in radiopharmaceuticals, AI integration, and PET imaging advancements.
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What are the most significant trends transforming the medical isotopes market today?
Medical isotope companies are focusing on forming strategic collaborations to gain a competitive edge. Such partnerships allow companies to combine resources and expertise to achieve shared goals. In September 2023, US-based International Isotopes Inc. partnered with Phantech Medical to innovate in the calibration and reference sources market, specifically for pre-clinical imaging, enhancing their medical imaging and theranostics offerings.
Which key market segments comprise the medical isotopes market and drive its revenue growth?
The medical isotopes market covered in this report is segmented -
1) By Product Type: Stable Isotopes, Radio Isotopes
2) By Production Method: Neutron Activation, Cyclotron, Nuclear Reactor, Other Production Method
3) By Application: Nuclear Therapy, Equipment Radioactive Source, Diagnosis
4) By End Use: Hospitals, Diagnostic Centers, Research Institutes
Subsegments:
1) By Stable Isotopes: Carbon-13, Nitrogen-15, Oxygen-18, Other Stable Isotopes
2) By Radio Isotopes: Technetium-99m, Iodine-131, Cobalt-60, Strontium-89, Other Radio Isotopes
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What regions are leading the charge in the medical isotopes market?
North America was the largest region in the medical isotopes market in 2024. The regions covered in the medical isotopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the medical isotopes market?
Major companies operating in the medical isotopes market are Rosatom State Atomic Energy Corporation, Bayer AG, Siemens Healthineers AG, GE HealthCare, Urenco Ltd., Lantheus Holdings Inc., Curium Pharma, Canadian Nuclear Laboratories, Eckert & Ziegler Strahlen- und Medizintechnik AG., Advanced Accelerator Applications a Novartis company, Nordion Inc., NTP Radioisotopes SOC Ltd., The Institute for Radioelements (IRE), NorthStar Medical Radioisotopes LLC, Isotopen Technologien München AG (ITM), Eczacıbaşı-Monrol Nuclear Products Co., SHINE Medical Technologies LLC, Blue Earth Diagnostics Limited, Isologic Innovative Radiopharmaceuticals, IBA Radiopharma Solutions, Izotóp, Coquí RadioPharmaceuticals Corp., Jubilant DraxImage Inc., Positron Corporation
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What Is Covered In The Medical Isotopes Global Market Report?
•Market Size Forecast: Examine the medical isotopes market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the medical isotopes market for a structured understanding.
•Key Players Overview: Analyze major players in the medical isotopes market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the medical isotopes market.
•Segment Contributions: Evaluate how different segments drive overall growth in the medical isotopes market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the medical isotopes market.
•Industry Challenges: Identify potential risks and obstacles affecting the medical isotopes market.
•Competitive Landscape: Review strategic developments in the medical isotopes market, including expansions, agreements, and new product launches.
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