Press release
Radiopharmaceutical Manufacturing Market to Reach USD 20.3 Billion by 2034, Growing at 9.0% CAGR
Radiopharmaceutical Manufacturing Market
Rapid advances in radioisotope production, PET & SPECT imaging, and targeted radioligand therapies are transforming diagnostics and oncology treatment worldwide.
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Introduction
The Radiopharmaceutical Manufacturing Market is evolving at record pace as nuclear medicine merges with precision diagnostics and targeted therapy.
Valued at USD 8.6 billion in 2024, the market is projected to reach USD 20.3 billion by 2034, registering a strong CAGR of 9.0%.
Radiopharmaceuticals-radioactive compounds used for diagnosis, imaging, and therapy-are reshaping the clinical management of cancer, cardiovascular, and neurological disorders. Growing adoption of theranostic approaches, along with rising investments in isotope-production facilities, is fueling sustained market growth globally.
Key Players in the Market
The landscape includes major pharmaceutical manufacturers, reactor operators, and specialized radiopharma firms expanding isotope capacity and regulatory approvals.
Leading companies include:
• GE HealthCare Technologies Inc.
• Curium Pharma
• Bayer AG
• Cardinal Health Inc.
• Novartis AG (Advanced Accelerator Applications & Endocyte)
• Telix Pharmaceuticals Limited
• NorthStar Medical Radioisotopes LLC
• Lantheus Holdings Inc.
• Siemens Healthineers AG
• Eckert & Ziegler AG
These players are expanding Lu-177, Ga-68, and F-18 isotope manufacturing, developing radioligand therapies (RLTs), and deploying AI-enabled radiochemistry automation to scale production safely and efficiently.
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Key Events in the Last Five Years
• 2020-2021: Novartis commercialized Lutathera® (Lu-177 DOTATATE) and advanced PluvictoTM (Lu-177 PSMA-617), revolutionizing targeted radionuclide therapy.
• 2022: Curium Pharma opened a state-of-the-art radiopharmaceutical plant in Europe, expanding PET isotope production by 40%.
• 2023: Telix Pharmaceuticals launched Illuccix® (Ga-68 PSMA-11) in the U.S., broadening access to prostate-cancer imaging.
• 2024: GE HealthCare and NorthStar announced partnerships to establish domestic Mo-99 supply chains reducing import dependence.
Market Growth Rate
According to Exactitude Consultancy, the market will grow at a CAGR of 9.0% (2025-2034) due to:
• Rising demand for PET and SPECT imaging in oncology and cardiology.
• Expansion of radiotheranostic programs integrating diagnosis and therapy.
• Global investments in radioisotope-production infrastructure.
• Growing acceptance of targeted radionuclide therapy (TRT) by oncologists and regulators.
Market Segments and Growth Analysis
The market is segmented by radioisotope type, application, and region.
By Radioisotope Type:
• Technetium-99m (Tc-99m)
• Fluorine-18 (F-18)
• Gallium-68 (Ga-68)
• Lutetium-177 (Lu-177)
• Iodine-131 and Others
By Application:
• Oncology (Imaging & Radioligand Therapy)
• Cardiology
• Neurology
• Endocrinology
• Research & Development
By Region:
• North America: Largest share; advanced infrastructure and strong FDA support for novel RLTs.
• Europe: High adoption of PET isotopes and new cyclotron networks.
• Asia Pacific: Fastest-growing; government investment in nuclear-medicine expansion in India, Japan, and South Korea.
• Latin America & MEA: Increasing public-private partnerships to build radio-pharma capacity.
Key Market Drivers
1. Rise of Theranostics:
Integrated diagnostic-therapeutic isotopes enable precise tumor targeting and real-time treatment monitoring.
2. Increasing Oncology Burden:
Growing global cancer incidence boosts demand for PET scans and targeted radiotherapies.
3. Technological Innovation:
Automated synthesis modules and AI-driven quality control streamline isotope production.
4. Government & Regulatory Support:
Expedited approvals and domestic production incentives strengthen supply security.
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Recent Developments
• 2023: Lantheus announced commercial expansion of PNT2002 (Psmafore®) radioligand, advancing Phase III trials in prostate cancer.
• 2024: Bayer progressed Ac-225 alpha-particle therapies, reinforcing its radiopharma pipeline.
• 2024: Eckert & Ziegler unveiled next-generation Lu-177 no-carrier-added production technology for higher-purity therapeutics.
• 2024: Cardinal Health integrated automated dose-dispensing robots to enhance safety and scalability in radiopharmacy networks.
Expert Insight
"Radiopharmaceutical manufacturing is becoming the backbone of precision oncology. With dual diagnostic-therapeutic capabilities, radioligand platforms are redefining how clinicians detect, monitor, and treat cancer."
- Dr. Anita Keller, Nuclear Medicine Specialist, Mayo Clinic
Conclusion
The Radiopharmaceutical Manufacturing Market is entering a new era defined by targeted radioligand therapy, AI-enabled production, and global supply-chain expansion.
By 2034, continuous advancements in isotope chemistry, automation, and regulatory collaboration will establish radiopharmaceuticals as cornerstones of personalized oncology and diagnostic precision.
The sector is poised for strong, sustained growth as clinicians and manufacturers align to deliver next-generation nuclear medicine solutions worldwide.
This report is also available in the following languages : Japanese (放射性医薬品製造市場), Korean (방사성 의약품 제조 시장), Chinese (放射性药物制造市场), French (Marché de la fabrication de produits radiopharmaceutiques), German (Markt für die Herstellung von Radiopharmaka), and Italian (Mercato della produzione di radiofarmaci), etc.
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About Us
Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.
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