Nuclear Pharmacy Market Forecast to Reach $17.96B by 2034 Amid Rising Oncology and Cardiology Applications

The Nuclear Pharmacy Market Size is valued at USD 6.27 Bn in 2024 and is predicted to reach USD 17.96 Bn by the year 2034 at a 11.2 % CAGR during the forecast period for 2025-2034.

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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Nuclear Pharmacy market are:
• Increasing incidence and prevalence of target conditions
• Increasing Applications in Oncology and Cardiology
• Rising Prevalence of Chronic Diseases

The following are the primary obstacles to the Nuclear Pharmacy market's expansion:
• Technological Complexities and Infrastructure Requirements
• Supply Chain Disruptions and Radiopharmaceutical Shortages
• Short half-life of radiopharmaceuticals

Future expansion opportunities for the global Nuclear Pharmacy market include:
• Growing Demand for Personalized Medicine
• Advancements in Nuclear Medicine Technologies
• Technological Innovations in Radiopharmaceutical Production

Key Industry Insights & Findings from the report:
• The industry is expanding as technology advancements allow radiopharmaceuticals to be used to identify and treat malignant tumors. The increasing prevalence of cancer and cardiovascular disorders, advances in radiopharmaceuticals, and the growing usage of nuclear medicine in diagnostic and therapeutic applications are the key drivers of the nuclear medicine market.
• The increased government funding for nuclear medical research and development will drive market growth.
• A chronic shortage of skilled healthcare professionals impedes the use of nuclear pharmacy technologies.
• North America is expected to have the largest market share in 2024 due to an increase in surgical procedures and a rise in preference for endovascular devices.

Market Analysis:
The global nuclear pharmacy market has witnessed substantial growth, driven by factors such as the rising prevalence of chronic diseases, technological advancements in nuclear medicine, and increasing demand for personalized therapeutic solutions. Market expansion is further supported by regulatory approvals for novel radiopharmaceuticals, the growing application of nuclear medicine in oncology and neurology, and increased investment in nuclear medicine infrastructure.

Moreover, strategic partnerships among pharmaceutical companies, research institutions, and healthcare providers are facilitating accelerated product development, optimized distribution networks, and improved patient access to nuclear medicine services worldwide.

List of Prominent Players in the Nuclear Pharmacy Market:
• GE HealthCare
• Cardinal Health
• Curium
• Bayer AG
• Lantheus Holdings, Inc.
• Bracco Imaging S.p.A.
• PharmaLogic Holdings Corp.
• Eczacibasi-Monrol Nuclear Products
• NTP Radioisotopes SOC Ltd
• Nordion Inc.
• Novartis (Advanced Accelerator Application)
• NorthStar Medical Radioisotopes
• Eckert & Ziegler
• Isotope JSC
• Siemens Healthineers

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Recent Developments:
• In January 2023, NorthStar Medical Radioisotopes (US) has made significant progress in developing its novel method for producing molybdenum-99 (Mo-99), a crucial medical radioisotope, without using uranium.
• In May 2024, Mauritius launched its new National Cancer Centre in Solferino, marking the completion of nearly 10 years of IAEA support for the country's nuclear medicine development. The new center is expected to drastically change cancer care for Mauritius patients by consolidating all oncology services, including nuclear medicine, under one roof.
• In January 2023, NorthStar Medical Radioisotopes significantly improved their process to create molybdenum-99 without uranium. This strategic move propels the organization to the forefront of the nuclear medicine market while solving important supply chain challenges.

Nuclear Pharmacy Market Dynamics
Market Drivers: Rising Incidence of Targeted Diseases
The increasing prevalence of cancer and cardiovascular disorders is a key factor driving the expansion of the nuclear pharmacy market. Timely diagnosis and effective treatment of these conditions are essential, with nuclear medicine playing a critical role in both areas. As reported by the American Heart Association (2022), cardiovascular diseases accounted for approximately 19.1 million deaths globally in 2020, with an age-adjusted mortality rate of 239.8 per 100,000 population and an age-adjusted prevalence rate of 7,354.1 per 100,000. The continued rise in these conditions is expected to fuel demand for nuclear medicine-based diagnostics and therapies, supporting market growth throughout the forecast period.

Challenges: Technological and Infrastructure Constraints
The global nuclear pharmacy market faces challenges related to technological complexity and the requirement for specialized infrastructure, particularly in emerging economies and resource-limited regions. The production, handling, and distribution of radiopharmaceuticals demand specialized facilities, equipment, and skilled personnel to ensure safety, quality control, and regulatory compliance. Establishing and operating nuclear pharmacies, cyclotron units, and radioisotope production centers involves substantial capital investment, stringent regulatory approvals, and advanced technical expertise.

Regional Trends: North America Leading Market Growth
North America is anticipated to maintain a dominant position in the global nuclear pharmacy market. The region benefits from advanced healthcare infrastructure, including a comprehensive network of hospitals, clinics, and academic medical centers equipped with cutting-edge imaging technologies and nuclear medicine capabilities. This robust infrastructure facilitates the widespread adoption of nuclear medicine for diagnostic, therapeutic, and research purposes, driving strong demand for radiopharmaceuticals and nuclear pharmacy services, and contributing to the region's leading growth trajectory over the forecast period.

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Segmentation of Nuclear Pharmacy Market-
By Type-
• Diagnostic Nuclear Medicine
o SPECT Radiopharmaceuticals
 Tc-99m
 1-123
 Tl-201
 Ga-67
 Other SPECT Isotopes
o PET Radiopharmaceuticals
 F-18
 Rb-82
 Other PET Isotopes
• Therapeutic Nuclear Medicine
o Alpha Emitters
 Ra-223
o Beta Emitters
 1-131
 Y-90
 Sm-153
 Lu-177
 Re-186
 Other Beta Emitters
• Brachytherapy Isotopes
o 1-125
o Ir-192
o Pd-103
o Cs-131
o Other Brachytherapy Isotopes
By Application-
• Diagnostic Applications
o SPECT Applications
 Cardiology
 Bone Scans
 Thyroid Applications
 Pulmonary Scans
 Other SPECT Applications
• PET Applications
o Oncology
o Cardiology
o Neurology
o Other PET Applications
• Therapeutic Applications
o Thyroid Indications
o Bone Metastasis
o Lymphoma
o Endocrine Tumors
o Other Indications
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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