Press release
Strong Growth Ahead: Diagnostic Radioisotopes Market Size To Grow At Arecord 9.7% Cagr By 2029
Diagnostic Radioisotopes
How Big Is the Diagnostic Radioisotopes Market Size Expected to Be by 2034?
The diagnostic radioisotopes market has grown rapidly in recent years. It will grow from $5.54 billion in 2024 to $6.1 billion in 2025 at a compound annual growth rate (CAGR) of 10.0%. This growth can be linked to the discovery of radioactivity, the introduction of technetium-99m, clinical research, Cold War-era nuclear research, and the emergence of positron emission tomography.
The diagnostic radioisotopes market is expected to grow to $8.83 billion by 2029 at a CAGR of 9.7%. Factors contributing to this growth include new radioisotope production methods, expanded clinical applications, patient-centered care, point-of-care imaging, and environmental sustainability. Prominent trends include hybrid imaging techniques, theranostics, molecular imaging, use of cyclotrons or generators, and improved safety and radiation protection.
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What Are the Emerging Segments Within 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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What Long-Term Drivers Are Shaping Diagnostic Radioisotopes Market Trends?
The rising cancer burden is projected to drive the growth of the diagnostic radioisotopes market. Cancer, influenced by lifestyle factors and genetic predispositions, continues to increase globally. Radioisotopes are crucial in diagnosing and monitoring cancer. According to a European Commission report, new cancer cases rose by 2.3% in 2022, with cancer deaths increasing by 2.4%. This growing cancer burden supports the expansion of the diagnostic radioisotopes market.
Who Are the Top Competitors in Key Diagnostic Radioisotopes Market Segments?
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
What Trends Are Expected to Dominate the Diagnostic Radioisotopes Market in the Next 5 Years?
Companies in the diagnostic radioisotopes market are advancing radiopharmaceutical technology to enhance diagnostic precision, improve outcomes, and expand nuclear medicine applications. For instance, in March 2022, Bracco Group, an Italy-based company, launched Blue Earth Therapeutics, a subsidiary focused on developing next-generation therapeutic radiopharmaceuticals, initially targeting prostate cancer and planning to expand to other oncological diseases.
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Which Regions Are Becoming Hubs for Diagnostic Radioisotopes Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Diagnostic Radioisotopes Market?
2. What is the CAGR expected in the Diagnostic Radioisotopes Market?
3. What Are the Key Innovations Transforming the Diagnostic Radioisotopes Industry?
4. Which Region Is Leading the Diagnostic Radioisotopes Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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