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What Is Driving Global Nuclear Medicine Market Growth in 2025: The Role of Cardiovascular Disease And Cancer Surge Drive Growth In The Nuclear Medicine Market
Nuclear Medicine
Nuclear Medicine Market Size Growth Forecast: What to Expect by 2025?
The global nuclear medicine market has experienced substantial recent acceleration, projected to expand from a valuation of $8.93 billion in the year 2024 reaching $10.18 billion by 2025, reflecting a compounded annual growth rate (CAGR) of 14.0%; this upswing throughout the historical timeframe is fundamentally linked to factors such as the increasing geriatric demographic, heightened utilization in cancer identification and staging, expanding cardiac applications, advancements in addressing neurological conditions, and successful regulatory clearances.
How Will the Nuclear Medicine Market Size Evolve and Grow by 2029?
Anticipating substantial expansion in the immediate future, the nuclear medicine sector is projected to reach a valuation of $15.64 billion by 2029, driven by an 11.3% compound annual growth rate; this upward trajectory is underpinned by factors such as the rise of personalized medicine, ongoing investigations in oncology and neurology, the incorporation of sustainable methodologies, heightened investment in research and development activities, and the increasing utilization of telemedicine modalities. Pervading this forecasted period are several key developments, notably the increasing prominence of radioimmunotherapy, the integration of hybrid imaging technologies, the growing influence of artificial intelligence, the introduction of novel radiopharmaceutical agents, and continued progress within diagnostic imaging techniques.
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What Drivers Are Propelling the Growth of Nuclear Medicine Market Forward?
Anticipation for a rise in the incidence and widespread occurrence of both cardiovascular ailments, which involve disorders of the heart and blood vessels, and malignant growths, where cells proliferate uncontrollably and disseminate through the body, is projected to fuel the expansion of the nuclear medicine sector moving ahead. Quicker detection of heart conditions can be achieved through the application of nuclear cardiac imaging techniques, while nuclear medicine therapy serves as a treatment modality for cancer, potentially employed alongside or succeeding other treatments like surgical intervention and chemotherapy. Consequently, the escalating frequency and distribution of both cardiac issues and cancer directly contribute to heightened demand within the nuclear medicine market; for example, data from the American Cancer Society Inc., a US non-profit health organization, indicated that an estimated 1,958,310 new cancer diagnoses were anticipated in the US for 2023, marking an increase from the over 1,918,030 new cases recorded in 2022. This continuous upward trend in the occurrence and broad impact of cardiovascular diseases and cancer is thus serving as the primary impetus propelling the nuclear medicine market forward.
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Which Emerging Trends Are Transforming the Nuclear Medicine Market in 2025?
Leading firms within the nuclear medicine sector are concentrating efforts on creating novel technologies, notably nuclear medicine cyclotrons, with the goal of boosting radiopharmaceutical output and refining capabilities in diagnostic visualization. These specialized particle accelerators function by bombarding target substances with high-energy particles, thereby generating the radioactive isotopes essential for therapeutic uses and medical scans like positron emission tomography (PET), which facilitates the creation of radiopharmaceuticals. As a concrete example, the US medical technology entity GE Healthcare China commenced the production of its initial consignment of cyclotrons on the first day of December 2023, with the launch occurring in January 2024 at the Chengdu Tianfu International Bio-Town. Such sophisticated accelerators represent a vital component for nuclear medicine, as they allow for the generation of medically necessary isotopes employed across both molecular imaging procedures and various treatment modalities. This strategic move is intended to foster a complete framework supporting nuclear medicine, thereby strengthening capacities for identifying illnesses in their nascent stages and tailoring treatments specifically for individual patients.
What Are the Key Segments in the Nuclear Medicine Market?
The nuclear medicinemarket 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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