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Nuclear Medicine Market Trends

Report ID: GMI12229
Published Date: Nov 2024
Report Format: PDF

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Nuclear Medicine Market Trends

Rising technological advancements are a key driver of growth in the market, especially in the areas of radiopharmaceuticals and isotopes. Innovations in radiopharmaceutical development have enhanced both efficacy and specificity, allowing for targeted delivery to tumors and improved therapeutic outcomes. For example, advancements in radioligand design have led to the creation of agents that selectively bind to cancer markers, optimizing treatment while minimizing side effects.

Refinements in isotope production, including advanced cyclotron and generator technologies, have improved the availability and purity of essential isotopes such as Fluorine-18 and Lutetium-177.
In addition, these isotopes are vital in both diagnostic imaging and targeted therapies, with hybrid radiopharmaceuticals that combine imaging and therapeutic properties expanding the scope of nuclear medicine. Personalized treatment strategies have gained traction, with over 20 million nuclear medicine procedures performed annually in the U.S., driven by innovations in the field. The integration of artificial intelligence (AI) and machine learning (ML) into imaging technology has also improved diagnostic accuracy by automating image analysis and enhancing image reconstruction.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global nuclear medicine industry was valued at around USD 13.6 billion in 2023 and is expected to exhibit growth at a CAGR of 16.3% from 2024 to 2032, driven by the increasing prevalence of cancer and cardiovascular diseases.

The diagnostics segment dominated the market with a revenue of around USD 9.4 billion in 2023, fueled by rising healthcare expenditures and infrastructure improvements in emerging markets.

The North America nuclear medicine market accounted for USD 7 billion in revenue in 2023 and is anticipated to grow at a CAGR of 15.6% between 2024 and 2032, supported by the region

Key players in the industry include Actinium Pharmaceuticals, Boston Scientific, Bracco, Cardinal Health, Curium Pharma, GE Healthcare, Jubilant Pharma, Lantheus, Novartis, RadioMedix, RLS Radiopharmacies, Siemens Healthineers, and Sirtex.