U.S. Nuclear Medicine Market – By Product, By Application, By End Use, & Forecast, 2024 – 2032

U.S. Nuclear Medicine Market Size

U.S. nuclear medicine market size was valued at around USD 6.5 billion in 2023 and is expected to exhibit growth at a CAGR of 15.6%. from 2024 to 2032. The U.S. radiopharmaceutical market is experiencing significant growth, driven by several key trends reflecting advancements in technology, increasing disease prevalence, and a growing focus on personalized medicine.
 

One of the most notable trends is the rising demand for radiopharmaceuticals, particularly in oncology, cardiology, and neurology. The increasing incidence of cancer, cardiovascular diseases, and neurological disorders is prompting healthcare providers to seek more effective diagnostic and therapeutic options, leading to greater utilization of radiopharmaceuticals used in nuclear imaging techniques such as PET and SPECT scans.
 

Additionally, the emergence of theranostics—combining diagnostic imaging with targeted therapies—has garnered considerable attention, allowing for personalized treatment approaches that improve patient outcomes. This trend is particularly evident with the development of radiopharmaceuticals like Lutetium-177 and Radium-223, which target specific cancer cells while minimizing damage to surrounding healthy tissue.
 

Moreover, advancements in radiopharmaceutical production are enhancing the quality and availability of isotopes used in these imaging techniques. Innovations in the synthesis and quality control of radiopharmaceuticals are crucial for ensuring the efficacy and safety of these agents in clinical applications.
 

Nuclear medicine is a medical specialty that utilizes radioactive materials (radioisotopes) for both diagnostic and therapeutic purposes. In this analysis, we have specifically tracked the market for radioisotopes rather than the imaging systems themselves. For instance, in diagnostics, radioisotopes are administered in small quantities to patients, enabling detailed imaging of organ function and cellular activity through techniques such as PET and SPECT. For therapeutic applications, higher doses of radiopharmaceuticals are used to target and treat conditions like cancer and hyperthyroidism by delivering radiation directly to diseased cells, minimizing damage to surrounding healthy tissue.
 

U.S. Nuclear Medicine Market Trends

U.S. market is experiencing significant growth, driven by increasing demand for non-invasive diagnostic techniques and targeted therapies. A key driver is the rising prevalence of chronic diseases, particularly cancer and cardiovascular conditions, which demand advanced diagnostic tools like PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography). PET scans are expected to account for major share of all nuclear medicine procedures due to their superior imaging accuracy in oncology and neurology applications.
 

• The market is also benefiting from advancements in radiopharmaceuticals, with an increasing number of FDA-approved drugs that enable more precise imaging and treatment of tumors. For instance, the FDA approval of Lutetium Lu 177 Dotatate (Lutathera) for neuroendocrine tumors highlights the trend toward targeted radionuclide therapies, which are forecasted to witness growth over the next five years.
   
• Additionally, increasing investments in research and development (R&D) are fostering innovations in hybrid imaging systems and novel radiotracers. Aging population demographics further amplify demand, as older adults have a higher incidence of chronic diseases. On the regulatory side, government initiatives to support nuclear medicine infrastructure, alongside collaborations between pharmaceutical companies and diagnostic centers, are also propelling market expansion.
   
• However, the market faces challenges from stringent regulatory requirements for radiopharmaceuticals and a shortage of technetium-99m, a key isotope in nuclear imaging. Despite these hurdles, the market is positioned for robust growth, with new innovations driving higher adoption in both diagnostics and therapeutics.
   

U.S. Nuclear Medicine Market Analysis

Based on product, the U.S. nuclear medicine market is categorized into diagnostics and therapeutics. The diagnostics segment dominated the market with a revenue of around USD 4.5 billion in 2023.
 

• The segment is experiencing significant growth driven by several key factors, including the increasing prevalence of chronic diseases, advancements in imaging technologies, the demand for early and accurate diagnoses, and the rising focus on personalized medicine. The aging population, particularly in the U.S., is leading to a higher incidence of conditions such as cancer, cardiovascular diseases, and neurological disorders.
   
• According to the National Cancer Institute, By 2040, the number of new cancer cases per year is expected to rise to 29.9 million and the number of cancer-related deaths to 15.3 million worldwide. Moreover, in 2024, an estimated 2,001,140 new cases of cancer will be diagnosed in the U.S.  This emphasizes the need for effective diagnostic tools that nuclear medicine can provide.
   
• Furthermore, technological advancements in imaging modalities, particularly Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET), have significantly improved diagnostic capabilities. These advanced imaging techniques offer higher resolution images, allowing for better localization and characterization of tumors and other abnormalities.
   

Based on application, the U.S. nuclear medicine market is categorized into neurology, cardiology, oncology, thyroid, pulmonary, and other applications. The neurology segment dominated the market in 2023 with a market share of 30%.
 

• One of the key drivers of this segment is the growing prevalence of neurodegenerative diseases, especially Alzheimer’s disease. According to the Alzheimer’s Association, in 2023, an estimated 6.7 million Americans aged 65 and older were living with Alzheimer’s. As the population ages, the demand for accurate and non-invasive imaging techniques to detect early-stage dementia has surged, with PET scans using fluorodeoxyglucose (FDG) and amyloid tracers playing a crucial role in diagnosing and differentiating types of dementia. In 2022, advancements in PET imaging with tau-specific tracers also gained traction, providing deeper insights into Alzheimer’s pathology.
   
• Parkinson’s disease is another area driving growth in the neurology segment. The Parkinson’s Foundation study in 2022, reported that approximately 90,000 people are diagnosed with Parkinson’s disease each year in the U.S. Nuclear imaging, particularly dopamine transporter (DAT) SPECT scans, is widely used to assess dopaminergic neuron loss, aiding in early diagnosis and treatment planning.
   
• The increase in neurological disorders and ongoing technological advancements in radiopharmaceuticals and imaging systems continue to fuel the demand for nuclear medicine in neurology.

Based on end use, the U.S. nuclear medicine market is categorized into hospitals, diagnostic centres, research institutes, and other end users. The hospitals segment dominated the market in 2023 and is anticipated to reach USD 15 billion by 2032.
 

• A major driver is the increasing demand for sophisticated diagnostic tools, such as Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET) scans, which are widely adopted in hospitals for their ability to provide precise and early diagnosis of diseases like cancer and heart conditions. As hospitals are equipped with advanced infrastructure and specialized staff, they can offer these cutting-edge imaging services, driving growth in the nuclear medicine market. The growing prevalence of chronic diseases in the U.S. population, particularly cardiovascular diseases and cancers, is also boosting hospital demand for nuclear imaging.
   
• There has been a notable rise in hospital investments in nuclear medicine equipment and radiopharmaceuticals. For instance, in 2022, several hospitals expanded their nuclear medicine departments, focusing on PET and SPECT imaging systems to support oncology and neurology departments.

East North Central nuclear medicine market accounted for USD 1 billion market revenue in 2023 and is anticipated to grow at a CAGR of 16% between 2024 and 2032.
 

• The East North Central zone is experiencing significant growth in the market, driven by several key factors. Firstly, the rising prevalence of cancer and cardiovascular diseases in states like Illinois and Michigan has led to an increased demand for diagnostic and therapeutic nuclear medicine procedures. Furthermore, the region boasts several leading medical institutions and research centers, such as the Cleveland Clinic and University of Chicago Medical Center, which are at the forefront of nuclear medicine innovation. These institutions contribute to increased adoption and accessibility of nuclear imaging technologies.
   
• Additionally, initiatives aimed at enhancing healthcare infrastructure and improving patient access to nuclear medicine services in states like Ohio and Indiana are further driving market growth.
   

West South-Central nuclear medicine market is projected to grow remarkably in the coming years.
 

• One of the primary drivers is the increasing prevalence of chronic diseases, particularly cancer and cardiovascular conditions, which has heightened the demand for advanced diagnostic imaging techniques such as PET and SPECT. For instance, Texas has seen a surge in cancer cases, leading to a greater need for nuclear medicine services.
   
• The Texas Department of State Health reported that Texas had an estimated 131,610 new cancer cases in 2021 alone, emphasizing the urgency for accurate diagnostic tools. Moreover, the presence of leading healthcare institutions and research facilities in this region fosters innovation and the adoption of advanced nuclear imaging technologies.
   
• Additionally, initiatives aimed at enhancing healthcare access in rural areas, such as telehealth services, are also contributing to market growth.
   

U.S. Nuclear Medicine Market Share

The market is dominated by some of the major market players. The market is competitive in nature, with major organizations, local small players, and start-ups joining the industry competition. The key industry players are consistently involved in creating new opportunities in the healthcare sector. Leading companies, such as Jubilant Pharma, Cardinal Health, Inc., Novartis AG, Lantheus, GE Healthcare, and Boston Scientific Corporation among others maintain a strong presence with extensive product portfolios of nuclear medicine, diagnostic products, and therapeutic products, technological innovations, and global market reach.
 

U.S. Nuclear Medicine Market Companies

Some of the eminent market participants operating in the U.S. nuclear medicine industry include:

• Actinium Pharmaceuticals
• Best Medical International
• Boston Scientific Corporation
• Bracco
• Cardinal Health
• Curium Pharma
• GE Healthcare
• GT Medical Technologies
• Iso-Tex Diagnostics
• ITM Isotope Technologies
• Jubilant Pharma
• Lantheus
• Novartis
• RadioMedix
• RLS Radiopharmacies
• Siemens Healthineers
• Sirtex
• Sun Pharmaceutical Industries
• Theragenics Corporation
   

U.S. Nuclear Medicine Industry News:

• In September 2024, GE HealthCare announced that the U.S. Food and Drug Administration (FDA) has granted approval of Flyrcado (flurpiridaz F 18) injection, a positron emission tomography myocardial perfusion imaging (PET MPI) agent, for the detection of coronary artery disease (CAD). This strategic approval is expected to enhance GE HealthCare’s market position and drive growth by expanding their diagnostic imaging portfolio and addressing a critical need in cardiovascular health.
   
• In June 2023 Jubilant Draximage Inc. through its Radiopharmacy business division and Evergreen Theranostics, Inc. announced a new agreement for Jubilant's radiopharmacy business to prepare, sell, and distribute doses of OCTEVY (Kit for Preparation of Ga 68 DOTATOC Injection) to positron emission tomography (PET) customers across the U.S. This strategic partnership is expected to enhance Jubilant’s market reach and strengthen its position in the PET imaging market, driving growth and expanding its customer base.
   

U.S. nuclear medicine market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032 for the following segments:

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Market, By Product

• Diagnostics
  • Single photon emission computed tomography (SPECT) isotopes
    • TC-99m
    • I-123
    • GA-67
    • TL-201
    • Other SPECT isotopes
  • Positron emission tomography (PET) isotopes
    • F-18
    • RB-82
    • Other PET isotopes
• Therapeutics 
  • Beta emitters
    • I-131
    • Lu-177
    • Y-90
    • SM-153
    • Re-186
    • Other beta emitters
  • Brachytherapy isotopes
    • Iridium-192
    • Iodine-125
    • Cesium-131
    • Palladium-103
    • Other brachytherapy isotopes
  • Alpha emitters
    • RA-223
    • Other alpha emitters

Market, By Application

• Neurology
• Cardiology
• Oncology
• Thyroid
• Pulmonary
• Other applications

Market, By End Use

• Hospitals
• Diagnostic centres
• Research institutes
• Other end users

The above information is provided for the following zones:

• East North Central
• West South Central
• South Atlantic
• Northeast
• East South Central
• West North Central
• Pacific Central
• Mountain States