NUCLEAR MEDICINE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025-2032)

Global Nuclear Medicine Market Size and Forecast – 2025 to 2032

The Global Nuclear Medicine Market is estimated to be valued at USD 18.32 Bn in 2025 and is expected to reach USD 38.52 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 11.2% from 2025 to 2032. The market's significant growth can be attributed to the increasing prevalence of chronic diseases, the growing demand for early and accurate diagnosis, and advancements in nuclear medicine technology.

Key Takeaways of the global nuclear medicine market

• By type, diagnostic nuclear medicine is expected to hold the largest market share at 65.1% in 2025, reflecting its vital role in early disease detection, precise diagnosis, and effective treatment management.
• By application, oncology is projected to lead with a 32.1% share in 2025, underscoring the importance of nuclear medicine in cancer diagnosis, staging, and treatment monitoring.
• By end user, hospitals & clinics segment is expected to account for the highest share at 25.2% in 2025, functioning as the main providers of nuclear medicine services.
• North America is expected to lead the market, holding a share of 32.3% in 2025. Asia Pacific is anticipated to be the fastest-growing region, with a market share of 28.1% in 2025.

Market Overview

The nuclear medicine market is witnessing several trends, including the development of novel radiopharmaceuticals, the adoption of personalized medicine approaches, and the integration of artificial intelligence and machine learning techniques. Additionally, the market is witnessing a shift towards the use of non-invasive diagnostic procedures, such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT), which offer high sensitivity and specificity in disease detection. Furthermore, the increasing collaboration between pharmaceutical companies, research institutions, and healthcare providers is expected to drive innovation and growth in the nuclear medicine market.

Current Events and Its Impact

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Segmental Insights

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Nuclear Medicine Market Insights, By Type - Diagnostic Nuclear Medicine Drives Market Growth Through Early Detection, Accurate Diagnosis, and Effective Disease Management

In terms of type, the diagnostic nuclear medicine segment is expected to contribute the highest share of the market with 65.1% in 2025 owing to its crucial role in the early detection, accurate diagnosis, and effective management of various diseases. The segment's growth is primarily driven by the increasing prevalence of chronic diseases, such as cancer and cardiovascular disorders, which require advanced diagnostic tools for precise identification and monitoring.

Diagnostic nuclear medicine encompasses two main categories: Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET) radiopharmaceuticals. SPECT radiopharmaceuticals, including Tc-99m, I-123, Tl-201, Ga-67, and other SPECT isotopes, are widely used in nuclear medicine procedures due to their ability to provide functional imaging of various organs and systems. These radiopharmaceuticals enable healthcare professionals to visualize and assess the physiological processes within the body, facilitating the early detection of abnormalities and guiding treatment decisions.

Nuclear Medicine Market Insights, By Application – Oncology Segment Leads Market Expansion Due to Rising Cancer Burden and Advancements in Targeted Radionuclide Therapies

In terms of application, the oncology segment is expected to contribute the highest share of the market with 32.1% in 2025, highlighting the critical role of nuclear medicine in cancer diagnosis, staging, and treatment monitoring. The segment's growth is driven by the rising global burden of cancer, the need for early detection and accurate staging, and the increasing adoption of targeted radionuclide therapies.

Nuclear medicine techniques, such as PET and SPECT imaging, have become indispensable tools in oncology, enabling the visualization and quantification of tumor metabolism, proliferation, and receptor expression. These imaging modalities provide valuable insights into the biological behavior of tumors, aiding in the selection of appropriate treatment strategies and the monitoring of treatment response. The development of cancer-specific radiopharmaceuticals, such as F-18 fluorodeoxyglucose (FDG) for PET imaging and Tc-99m labeled agents for SPECT imaging, has greatly enhanced the diagnostic accuracy and specificity in oncology.

Nuclear Medicine Market Insights, By End User - Hospitals and Clinics Remain the Primary End Users, Driving Demand with Advanced Imaging Technologies and High Patient Volume

In terms of end user, the hospitals & clinics segment is expected to contribute the highest share of the market with 25.2% in 2025, serving as the primary centers for the delivery of nuclear medicine services. Hospitals and clinics represent the primary end users of nuclear medicine services, serving as the frontline for diagnostic and therapeutic applications. These healthcare facilities leverage nuclear medicine techniques for accurate disease diagnosis, treatment planning, and patient monitoring across diverse medical fields such as oncology, cardiology, and neurology. Equipped with advanced imaging technologies like PET and SPECT scanners, hospitals and clinics play a critical role in delivering timely and effective nuclear medicine procedures. Their widespread presence and growing patient influx drive significant demand for radiopharmaceuticals and nuclear imaging services, reinforcing their dominant position in the market.

Role of Artificial Intelligence (AI) in the Global Nuclear Medicine Market

• Artificial Intelligence (AI) is profoundly reshaping the global nuclear medicine market by enhancing efficiency, reducing costs, and enabling automation across multiple facets of the industry. AI-powered predictive analytics improve diagnostic accuracy and treatment planning by analyzing vast datasets from imaging and patient records, allowing personalized therapy approaches and better patient outcomes. Automation in workflow processes—from image acquisition to reporting—reduces human error and operational bottlenecks, thereby accelerating service delivery and cutting operational expenses. Additionally, AI facilitates data-driven decision-making, empowering healthcare providers and manufacturers to optimize resource allocation and improve customer experiences through tailored diagnostics and support services. Emerging opportunities driven by AI include innovative business models such as AI-assisted radiopharmaceutical development and remote diagnostics, which create competitive advantages by speeding up product innovation and expanding access to nuclear medicine services globally.
• A prime example of AI integration in nuclear medicine is Siemens Healthineers, a leading global medical technology company specializing in imaging and diagnostics. Siemens Healthineers employs AI-enabled software platforms like AI-Rad Companion, which assists radiologists by automating routine image analysis and providing quantitative assessments, improving diagnostic consistency and workflow efficiency. This integration supports scalability and growth by enhancing operational capabilities and fostering innovation in nuclear imaging products. Nonetheless, when leveraged strategically, AI can drive long-term success and transformation in the nuclear medicine market by balancing enhanced technological capabilities with responsible adoption practices.
• For Example, Paris Santé Cochin, a health tech startup through its incubator Paris Biotech Santé, supports innovative AI solutions in nuclear medicine. A key example is PAIRE’s Pionus—a CE-marked AI software that automates lesion detection and segmentation in PET-CT scans, helping physicians evaluate therapy response more efficiently.

Regional Insights

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North America Nuclear Medicine Market Analysis and Trends

In North America, the dominance in the global nuclear medicine market with an estimated share of 32.3% in 2025 can be attributed to several factors. The region boasts a robust healthcare infrastructure, advanced medical technologies, and a high adoption rate of nuclear medicine procedures. The U.S., in particular, has a well-established regulatory framework and favorable reimbursement policies, which have fostered the growth of the nuclear medicine industry.

Moreover, the presence of major pharmaceutical and biotechnology companies, such as GE Healthcare, Cardinal Health, and Lantheus Medical Imaging, has further contributed to the region's dominance. These companies have made significant investments in research and development, leading to the introduction of innovative radiopharmaceuticals and imaging equipment.

Asia Pacific Nuclear Medicine Market Analysis and Trends

Meanwhile, the Asia Pacific region is expected to exhibit the fastest growth in the global nuclear medicine market with a share of 28.1% in 2025. This growth can be ascribed to the increasing prevalence of chronic diseases, rising healthcare expenditure, and growing awareness about early disease detection and treatment. Countries like China, India, and Japan have witnessed a surge in the demand for nuclear medicine procedures, driven by their large patient populations and improving healthcare infrastructure.

The Asia Pacific region is set to witness the fastest growth in the nuclear medicine market over the coming years, driven by increased awareness of nuclear medicine therapies and higher investment levels. For instance, in March 2022, Penang Adventist Hospital (PAH), a prominent healthcare provider recognized for its quality medical care, opened a private nuclear medicine center in Northern Thailand. This move is anticipated to positively impact the development and adoption of nuclear medicine across Asia Pacific.

Global Nuclear Medicine Market Outlook for Key Countries:

U.S. Nuclear Medicine Market Trends

The U.S. nuclear medicine market remains at the forefront of the global nuclear medicine market. The country's advanced healthcare system, coupled with a strong emphasis on personalized medicine and targeted therapies, has driven the demand for nuclear medicine procedures. The U.S. benefits from a favorable regulatory environment, with the U.S. Food and Drug Administration (FDA) actively supporting the development and approval of new radiopharmaceuticals. Major players like GE Healthcare and Cardinal Health have a significant presence in the country, offering a wide range of nuclear medicine products and services.

For instance, in January 2024, Lantheus Holdings, Inc., a U.S.-based medical imaging company, strengthened its position in the nuclear medicine sector through agreements with Perspective Therapeutics, Inc. The deals include an exclusive licensing option for Perspective’s Pb212-VMT-⍺-NET therapy for neuroendocrine tumors and co-development for early-stage prostate cancer treatments, backed by an upfront payment of USD 28 million.

India Nuclear Medicine Market Trends

The Indian nuclear medicine market is rapidly growing, driven by rising cancer incidence, technological advancements like PET and SPECT imaging, and strong government support to improve healthcare infrastructure. Increasing adoption of radiopharmaceuticals and emerging trends such as AI integration and hybrid imaging techniques are further enhancing diagnostic accuracy and treatment effectiveness, positioning the market for significant expansion in the coming years.

U.K. Nuclear Medicine Market Trends

The U.K. nuclear medicine market is evolving rapidly, driven by the adoption of advanced imaging technologies like digital SPECT and whole-body MRI, which improve diagnostic precision and patient outcomes. Innovations in targeted radiopharmaceutical therapies are offering more personalized cancer treatments, minimizing harm to healthy tissues. However, the sector faces challenges with isotope supply shortages due to aging production facilities and global disruptions, prompting calls for increased domestic production capabilities.

For Instance, Skyfarer, a U.K.-based drone company, partnered with University Hospitals Coventry & Warwickshire (UHCW) NHS Trust and Viking Drone Packaging to trial the Orca drone for delivering radioactive medicines to hospitals. Designed to carry up to 15 kg, the drone aims to reduce delivery times for time-sensitive treatments compared to road transport. Trials are ongoing in Coventry, with regulatory approvals pending.

Germany Nuclear Medicine Market Trends

Germany nuclear medicine market is characterized by its advanced healthcare infrastructure and a strong focus on precision medicine. The country has a well-established network of nuclear medicine facilities and a highly skilled workforce. German companies, such as Siemens Healthineers and Bayer AG, have made significant contributions to the market through their innovative imaging equipment and diagnostic radiopharmaceuticals. The German government's support for research and development in the field of nuclear medicine has further strengthened the country's position in the market.

For instance, on May 06, 2025, SHINE Technologies, a nuclear fusion company specializing in medical isotopes, announced plans to acquire Lantheus’ SPECT division, enhancing its leadership in nuclear medicine. The deal includes Lantheus’ manufacturing facility in Massachusetts and will expand SHINE’s access to critical medical isotopes like Mo-99 and Lu-177.

Market Players, Key Development, and Competitive Intelligence

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Key Developments

• In March 2025, Actinium Pharmaceuticals, a developer of targeted radiotherapies, launched ATNM-400, a novel prostate cancer treatment using the alpha-emitting radioisotope actinium-225 (Ac-225) that targets a non-PSMA marker. Preclinical results on ATNM-400’s biodistribution and efficacy will be presented at the American Association for Cancer Research (AACR) meeting in April 2025. The therapy aims to offer an alternative to Pluvicto, a Lu-177-based PSMA-targeted treatment, potentially reducing off-target effects by focusing on a different prostate cancer marker.
• In October 2024, Sanofi, a global biopharmaceutical leader, and Orano Med, a specialist in targeted alpha therapies, formed a strategic partnership to advance treatments for rare cancers. Their collaboration focuses on accelerating next-generation radioligand therapies by jointly investing in a new entity under the Orano Med brand, leveraging lead-212 (²¹²Pb), an alpha-emitting isotope, for discovery, design, and clinical development.
• In October 2024, NorthStar Medical Radioisotopes, a U.S.-based producer of medical isotopes, launched a new 52,000-sq-ft Contract Development and Manufacturing Organization (CDMO) facility in Wisconsin, U.S. The facility will support biopharmaceutical and pharmaceutical companies by providing development and manufacturing services for key radioisotopes like actinium-225, lutetium-177, copper-64, copper-67, and indium-111, enhancing industry capacity to meet growing demand.
• In March 2024, the Ministry of Health of the Republic of Serbia signed a Memorandum of Understanding (MoU) with Rosatom State Corporation, a Russian nuclear energy company, to enhance cooperation in nuclear medicine. This partnership is expected to support market growth during the forecast period.

Top Strategies Followed by Global Nuclear Medicine Market Players

• Established players in the global nuclear medicine market are focusing on extensive research and development to innovate high-performance products. These companies invest heavily in R&D to develop advanced diagnostic and therapeutic radiopharmaceuticals, as well as cutting-edge imaging technologies. For instance, GE Healthcare has been investing in the development of novel PET/CT scanners and SPECT/CT systems to improve image quality and patient comfort. Additionally, leading companies are forming strategic partnerships with major industry players or original equipment manufacturers (OEMs) to solidify their market presence.
  • In December 2023, Bristol Myers Squibb, a global biopharma company, agreed to acquire RayzeBio for USD 4.1 billion. RayzeBio is developing two cancer therapies using actinium-225 and is associated with Point, which has two lutetium-177 therapies in phase 3 trials. This acquisition expands Bristol Myers Squibb’s oncology portfolio.

• Mid-level players in the global nuclear medicine market are focusing on delivering cost-effective solutions to target price-sensitive consumers. These companies aim to provide quality products at competitive prices to capture a larger market share. They are also exploring collaborations with other industry players to boost their technology, production capabilities, and market presence.
  • In April 2023, Novartis, a leading pharmaceutical corporation, received U.S. FDA approval for its Milburn facility to commercially produce Pluvicto, enhancing its production capabilities in nuclear medicine.

• Small-scale players in the global nuclear medicine market are adopting niche specialization strategies to target specific market segments with unique features or innovative products. By focusing on niche markets, these players can differentiate themselves from larger competitors and capture a loyal customer base. Moreover, small-scale players are leveraging cutting-edge technologies to remain competitive in the market. An example of small-scale specialization in the nuclear medicine market is Lantheus Holdings before its expansion phase. Initially, Lantheus focused on niche radiopharmaceutical products tailored for specific diagnostic imaging needs, such as ultrasound and SPECT agents, differentiating itself from larger pharmaceutical companies.

Market Report Scope

Nuclear Medicine Market Report Coverage

Market Dynamics

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Nuclear Medicine Market Driver - Increasing Prevalence of Cancer

The rising incidence of cancer worldwide is a significant driver propelling the growth of the global nuclear medicine market. As the number of cancer cases continues to increase, the demand for effective diagnostic and therapeutic tools, such as those offered by nuclear medicine, is growing correspondingly. Nuclear medicine techniques, including positron emission tomography (PET) and single-photon emission computed tomography (SPECT), play a crucial role in the early detection, staging, and monitoring of various types of cancer. These imaging modalities provide detailed functional information about the body, enabling physicians to identify and locate cancerous lesions with high precision.

For instance, in February 2025, according to WHO, cancer remains a leading global cause of death, responsible for nearly 10 million fatalities in 2020—about one in six deaths worldwide. The most prevalent cancers include breast (2.26 million cases), lung (2.21 million), colon and rectum (1.93 million), and prostate (1.41 million). Major risk factors contributing to roughly one-third of cancer deaths are tobacco use, obesity, alcohol, poor diet, and physical inactivity, alongside infections like HPV and hepatitis, particularly impacting low- and middle-income countries.

Nuclear Medicine Market Opportunity - Advancements in Radiopharmaceuticals

The global nuclear medicine market is poised for significant growth opportunities driven by advancements in radiopharmaceuticals. Ongoing research and development efforts are focused on creating novel radiopharmaceuticals with improved diagnostic and therapeutic capabilities. These advancements aim to enhance the specificity and sensitivity of nuclear medicine imaging, enabling earlier detection and more accurate characterization of various diseases including cancers, neurological disorders, and cardiovascular conditions. Furthermore, the development of targeted radiopharmaceuticals, which selectively bind to specific molecular targets, holds promise for personalized medicine approaches. These targeted agents can deliver therapeutic radiation doses directly to diseased tissues while minimizing exposure to healthy cells, potentially improving treatment outcomes and reducing side effects.

As radiopharmaceutical innovations continue to emerge, they are expected to expand the application scope of nuclear medicine, driving market growth and improving patient care. For instance, in April 2024, PharmaLogic Holdings Corp., a leading CDMO and radiopharmacy solutions provider, opened a new state-of-the-art radiopharmaceutical manufacturing and research facility in Ohio, U.S. This advanced cyclotron-equipped site aims to enhance patient access to innovative diagnostic and therapeutic radiopharmaceuticals for cancer, neurological, and heart diseases across North America.

Analyst Opinion (Expert Opinion)

• The global nuclear medicine market is experiencing robust growth driven by rapid technological advancements in imaging and radiopharmaceuticals, increasing prevalence of chronic diseases such as cancer and cardiovascular disorders, and strong regulatory support promoting innovation and safety. Enhanced diagnostic accuracy and therapeutic efficacy offered by novel radiotracers and hybrid imaging techniques, such as PET/CT and SPECT/CT, are expanding clinical applications. Additionally, growing awareness and rising healthcare expenditure in emerging economies present significant opportunities. However, the market faces challenges including high costs of nuclear medicine equipment, stringent regulatory requirements, and limited access in low-resource settings, which could constrain widespread adoption.
• Over the past few years, key events such as the SNMMI Annual Meeting (Society of Nuclear Medicine and Molecular Imaging), the European Association of Nuclear Medicine (EANM) Congress, and the Asia Oceania Congress of Nuclear Medicine & Biology (AOCNMB) have played vital roles in knowledge exchange, policy development, and showcasing cutting-edge technologies. Real-world initiatives include collaborations between companies like Siemens Healthineers and Pfizer to develop advanced radiopharmaceuticals, as well as government-backed programs in countries like South Korea and the U.S. promoting nuclear medicine infrastructure expansion. Pilot projects integrating AI-driven diagnostic tools further exemplify innovation trends shaping the market’s future trajectory.

Market Segmentation

• Type Insights (Revenue, USD Bn, 2020 - 2032)
  • Diagnostic Nuclear Medicine
    • SPECT Radiopharmaceuticals
      • Tc-99m
      • I-123
      • Tl-201
      • Ga-67
      • Other SPECT Isotopes
    • PET Radiopharmaceuticals
      • F-18
      • Rb-82
      • Other PET Isotopes
    • Therapeutic Nuclear Medicine
      • Alpha Emitters
        • Ra-223
      • Beta Emitters
      • I-131
      • Y-90
      • Sm-153
      • Lu-177
      • Re-186
      • Other Beta Emitters
  • Brachytherapy Isotopes
    • Cesium-131
    • Iodine-125
    • Palladium-103
    • Iridium-192
    • Others
•  Application Insights (Revenue, USD Bn, 2020 - 2032)
  • Oncology
  • Cardiology
  • Neurology
  • Endocrinology
  • Bone Metastasis
  • Gastroenterology
  • Pulmonology
  • Infectious Diseases
  • Others
•  End User Insights (Revenue, USD Bn, 2020 - 2032)
  • Hospitals & Clinics
  • Diagnostic Centers
  • Research Laboratories
  • Academic Institutions
  • Others
• Regional Insights (Revenue, USD Bn, 2020 - 2032)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Siemens Healthineers
  • GE Healthcare
  • Philips Healthcare
  • Toshiba Medical Systems
  • Bracco Imaging
  • Canon Medical Systems
  • Eczacıbaşı-Monrol
  • Mallinckrodt Pharmaceuticals
  • Lantheus Medical Imaging
  • Bayer AG
  • RadioMedix
  • IBA Radiopharma Solutions
  • Nordion (a Sotera Health company)
  • Advanced Accelerator Applications
  • Actinium Pharmaceuticals

Sources

Primary Research Interviews

• Interviews with Nuclear Medicine Experts and Physicians (e.g., radiologists, nuclear medicine specialists)
• Discussions with Hospital Administrators and Healthcare Providers
• Interviews with Regulatory Authorities and Policy Makers
• Conversations with Academic Researchers and University Professors in Nuclear Medicine
• Consultations with Medical Equipment Manufacturers’ Technical Staff (non-commercial perspective)

   Databases

• World Health Organization (WHO)
• International Atomic Energy Agency (IAEA)
• S. Food and Drug Administration (FDA)
• Centers for Disease Control and Prevention (CDC)
• European Medicines Agency (EMA)
• National Cancer Institute (NCI)
• Health Canada

Magazines

• Journal of Nuclear Medicine Technology (JNMT)
• Nuclear Medicine Communications
• European Journal of Nuclear Medicine and Molecular Imaging (EJNMMI)
• Nuclear News (American Nuclear Society)
• Diagnostic Imaging Europe

Journals

• The Journal of Nuclear Medicine (JNM)
• European Journal of Nuclear Medicine and Molecular Imaging
• Molecular Imaging and Biology
• Nuclear Medicine and Biology
• Clinical Nuclear Medicine
• Physics in Medicine & Biology

Newspapers

• Reuters Health
• The New York Times – Health Section
• The Guardian – Science and Health
• BBC News – Health
• Financial Times – Healthcare and Pharmaceuticals

Associations

• Society of Nuclear Medicine and Molecular Imaging (SNMMI)
• European Association of Nuclear Medicine (EANM)
• American College of Nuclear Physicians (ACNP)
• International Society of Radiology (ISR)
• Radiological Society of North America (RSNA)
• International Society for Molecular Imaging (ISMI)

Public Domain Sources

• Google Scholar
• Open Access University Repositories
• National Institutes of Health (NIH) Publications

Proprietary Elements

• CMI Data Analytics Tool: Proprietary analytics tool to analyze real-time market trends, consumer behavior, and technology adoption in market
• Proprietary CMI Existing Repository of Information for Last 8 Years