Radiopharmaceuticals in Nuclear Medicine Market Booming with Demand for Targeted Diagnostics and Theranostics | Coherent Market Insights

The radiopharmaceuticals in nuclear medicine market is witnessing transformative growth driven by advancements in targeted diagnostics and therapeutics across oncology, cardiology, and neurology. Increasing adoption of personalized medicine and radiopharmaceutical innovations has propelled the industry size remarkably over the past years. The Global Radiopharmaceuticals in Nuclear Medicine Market size is estimated to be valued at USD 5.6 billion in 2025 and is expected to reach USD 10.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.3% from 2025 to 2032. This market revenue growth reflects expanding applications in novel isotopes and improved production capacities, as evidenced by recent FDA approvals for lutetium-177-based therapies and gallium-68 radiotracers in 2024.

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➤Actionable insights

● Production capacity for key isotopes like technetium-99m increased by approximately 15% in 2024, meeting surging diagnostic demand.
● Pricing dynamics show stable cost structures due to enhanced supply chain integration, with average prices for therapeutic radiopharmaceuticals rising marginally by 4% owing to advanced compound complexity.
● Export volumes from nuclear medicine manufacturing hubs, including the U.S. and Europe, grew by 12% in 2024, reflecting global demand expansion into emerging markets.
● Use cases in oncology account for over 60% of total radiopharmaceutical consumption, with novel agents targeting prostate and neuroendocrine tumors driving this shift.
● Increasing integration with hybrid imaging modalities (e.g., PET/MRI) has stimulated import demand for higher-purity radioisotopes in APAC regions.

❖Market segment and regional coverage

○ By Radiopharmaceutical Type: Diagnostic Radiopharmaceuticals, Therapeutic Radiopharmaceuticals, Others
○ By Application: Oncology, Cardiology, Neurology, Others
○ By End User: Hospitals, Diagnostic Centers, Research Centers, Others
Regional and Country Analysis:
○ North America: U.S. and Canada
○ Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
○ Europe: Germany, U.K., Spain, France, Italy, Benelux, Denmark, Norway, Sweden, Russia, and Rest of Europe
○ Asia Pacific: China, Taiwan, India, Japan, South Korea, Indonesia, Malaysia, Philippines, Singapore, Australia, and Rest of Asia Pacific
○ Middle East & Africa: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Israel, South Africa, North Africa, Central Africa, and Rest of MEA

✔Key players

» Cardinal Health
» Jubilant Radiopharma
» Eckert & Ziegler
» Bayer AG
» Curium Pharma
» Lantheus Holdings
» Ion Beam Applications (IBA)
» GE Healthcare
» Advanced Accelerator Applications (AAA)
» Nordion
» Eckert & Ziegler AG
» Siemens Healthineers
» Bracco Diagnostics
» Jubilant Life Sciences
» Nihon Medi-Physics
» RadioMedix Inc.
» Eckert & Ziegler Nuclear Oncology
» TRIMED Oncology
» Pharma Logic Holdings
» Radioisotopes India

Several key players adopted expansion strategies focusing on capacity enhancement and strategic acquisitions. For instance, Bayer AG's acquisition of AAA in 2024 accelerated its therapeutic radiopharmaceutical portfolio with successful commercialization of lutetium-based treatments, driving a 17% revenue increase year-over-year. Cardinal Health expanded its logistics infrastructure in North America in 2025 to optimize supply chains amid rising demand, resulting in reduced lead times by 25%.

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➤Growth factors

✓ Increased prevalence of cancers and cardiovascular diseases globally is a primary growth driver, supported by rising demand for highly specific diagnostic and therapeutic agents.
✓ Regulatory approvals for novel theranostic radiopharmaceuticals in 2024-2025 have expanded treatment applicability, notably for prostate cancer and neuroendocrine tumors.
✓ Growing investments in cyclotron facilities and production capacity enhancements, especially in Asia Pacific, have improved access to short-lived isotopes.
✓ Enhanced reimbursement policies and increased awareness among clinicians about nuclear medicine benefits further propel market growth.

❖ Market trends

⇨ Rapid innovation in PET radionuclides, including gallium-68 and copper-64, is expanding the market scope by enabling more precise imaging in oncology and neurology.
⇨ Emergence of alpha-emitting radiotherapeutics, such as actinium-225, marks a trend focusing on highly targeted cancer therapies with reduced off-target effects.
⇨ Integration of artificial intelligence with nuclear medicine imaging enhances diagnostics accuracy, leading to increased adoption of radiopharmaceuticals in clinical protocols by 25% in 2024.
⇨ Collaborative partnerships between research institutes and market players are accelerating R&D pipelines, with over 30 new radiopharmaceuticals in clinical trials as of mid-2025.

✒Key takeaways

→ Diagnostic radiopharmaceuticals remain the largest segment by volume, driven mainly by technetium-99m derivatives.
→ Therapeutic agents, led by lutetium-177 compounds, are the fastest-growing subsegment due to expanded oncological applications.
→ Oncology dominates the application landscape owing to increased cancer incidence and adoption of personalized medicine.
→ North America leads in advanced radiopharmaceutical innovations and approvals, substantiated by government funding and robust healthcare infrastructure.
→ Asia Pacific shows dynamic growth potential with expanding cyclotron installations and favorable regulatory reforms in countries like China and India.
→ Europe contributes significantly through well-established nuclear medicine centers and strategic industry collaborations enhancing market penetration.

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❓ Frequently Asked Questions

Q1: Who are the dominant players in the Radiopharmaceuticals in Nuclear Medicine market?
A1: Key players include Cardinal Health, Bayer AG, Curium Pharma, Jubilant Radiopharma, and Eckert & Ziegler, all of whom lead through strategic acquisitions and capacity expansions.

Q2: What will be the size of the Radiopharmaceuticals in Nuclear Medicine market in the coming years?
A2: The market is projected to grow from USD 5.6 billion in 2025 to USD 10.2 billion by 2032 with a CAGR of 9.3%, driven by technology adoption and expanded clinical applications.

Q3: Which end users industry has the largest growth opportunity?
A3: Oncology treatment centers and diagnostic hospitals present the largest growth opportunity due to increasing cancer prevalence and demand for personalized nuclear medicine.

Q4: How will market development trends evolve over the next five years?
A4: Trends indicate accelerated growth in alpha-emitting therapeutics, AI-integrated imaging technologies, and expansion of radionuclide production capacity worldwide.

Q5: What is the nature of the competitive landscape and challenges in the Radiopharmaceuticals in Nuclear Medicine market?
A5: The competitive landscape is marked by consolidations and innovation leadership, with challenges including short isotope half-lives, regulatory compliance, and supply chain complexities.

Q6: What go-to-market strategies are commonly adopted in the Radiopharmaceuticals in Nuclear Medicine market?
A6: Strategies include strategic acquisitions, capacity scaling, regulatory approvals acceleration, partnerships for R&D, and expanding distribution networks to emerging regions.

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