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Navigating the Future: Nuclear Medicine Market Trends and Forecast Insights, 2025 Edition
Nuclear Medicine
Nuclear Medicine Market Size Growth Forecast: What to Expect by 2025?
The size of the nuclear medicine market has seen rapid expansion in the previous years. Expected to increase from $8.93 billion in 2024 to $10.2 billion in 2025, it has a compound annual growth rate (CAGR) of 14.2%. Factors contributing to growth in the past have included an elderly population, cancer recognition and staging, cardiology applications, neurological conditions, and regulatory permissions.
How Will the Nuclear Medicine Market Size Evolve and Grow by 2029?
In the coming years, the nuclear medicine market size is forecasted to experience quick expansion. The market is predicted to attain a worth of $15.77 billion in 2029, with a CAGR of 11.5%. The anticipated growth during this forecasted period can be credited to elements such as personalized medicine, significant progress in oncology and neurology research, the adoption of sustainable practices, continuous research and development, and telemedicine services. The main trends predicted for this period include radioimmunotherapy, hybrid imaging, the rise of artificial intelligence (AI), the emergence of radiopharmaceuticals, and advancements in diagnostic imaging.
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What Drivers Are Propelling the Growth of Nuclear Medicine Market Forward?
The nuclear medicine market is anticipated to expand due to the increasing occurrence and persistence of cardiovascular diseases (CVD) and cancer. CVDs encompass a variety of disorders related to the heart and blood vessels, while cancer is characterized by unregulated cell growth and spread throughout the body. Nuclear cardiac imaging is a tool that can expedite the diagnosis of heart diseases. Similarly, nuclear medicine therapy offers a promising method for treating cancer, often used alongside or subsequent to other treatments like surgery and chemotherapy. Therefore, the escalating persistence and prevalence of cardiovascular diseases and cancer raise the need for the nuclear medicine market. In January 2023, the American Cancer Society Inc., a non-profit health organization based in the US, projected that there would be 1,958,310 new cancer diagnoses in the US in 2023, which is a rise from over 1,918,030 new cancer cases in 2022. As a result, the rising persistence and frequency of cardiovascular diseases and cancer are fueling the growth of the nuclear medicine market.
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Which Emerging Trends Are Transforming the Nuclear Medicine Market in 2025?
Major firms in the nuclear medicine market are prioritizing the creation of innovative tools like nuclear medicine cyclotrons to bolster radiopharmaceutical production and boost diagnostic imaging quality. Nuclear medicine Cyclotrons, specialized particle accelerators, generate radioactive isotopes for medical imaging and treatment by propelling high-energy particles towards targeted materials. This process facilitates the creation of radiopharmaceuticals utilized in tests such as positron emission tomography (PET). For instance, in January 2024, GE Healthcare China, an American medical technology firm, initiated its first set of cyclotrons on December 1, 2023, located at Chengdu Tianfu International Bio-Town. These sophisticated particle accelerators are essential in nuclear medicine for the manufacture of medical isotopes required in molecular imaging and therapeutical applications. Through this undertaking, the aim is to build a complete ecosystem for nuclear medicine, improving abilities in early illness identification and customized treatment.
What Are the Key Segments in the Nuclear Medicine Market?
The nuclear medicine market covered in this report is segmented -
1) By Type: Diagnostic, Therapeutic
2) By Application: Cardiology, Lymphoma, Thyroid, Neurology, Oncology, Other Application
3) By End-User: Hospitals and Clinics, Diagnostic Centers, Other End Users
Subsegments:
1) By Diagnostic: Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET), Gamma Cameras, Radiopharmaceuticals for Imaging, Other Diagnostic Imaging Techniques
2) By Therapeutic: Radiopharmaceuticals for Targeted Therapy, Beta Emitters, Alpha Emitters, Radiosynovectomy Agents, Other Therapeutic Applications
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Who Are the Key Players Shaping the Nuclear Medicine Market's Competitive Landscape?
Major companies operating in the nuclear medicine market include Bracco Imaging S.P.A., Lantheus Medical Imaging Inc., NTP Radioisotopes SOC Ltd., Eckert & Ziegler Group, Jubilant Pharma LLC, Australian Nuclear Science & Technology Organisation, Cardinal Health Inc., GE Healthcare Technologies Inc., Curium Pharma, Advanced Accelerator Applications USA Inc., Nordion Inc., The Institute for Radioelements, Eczacibasi-Monrol Nuclear Products Co., Siemens Healthineers AG, Cambridge Isotope Laboratories Inc., Bayer AG, Medtronic plc, Triad Isotopes Inc., FUJIFILM Holdings Corporation, Mallinckrodt Pharmaceuticals plc, PharmaLogic Holdings Corp., Institute of Isotopes Co. Ltd., Sinotau Pharmaceuticals Limited, Isotopia Molecular Imaging Limited, SHINE Medical Technologies Inc., Global Medical Solutions LLC, Charles River Analytics Inc., Touchlight Genetics Ltd., Numares B.V., Tech-X Corporation, Karyopharm Therapeutics Inc., JSC Isotope Inc., NorthStar Medical Radioisotopes LLC
What Geographic Markets Are Powering Growth in the Nuclear Medicine Market?
North America was the largest region in the nuclear medicine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nuclear medicine market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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