Nuclear Medicine Market Size Worth $12.17 Billion By 2028 | CAGR: 9.0%

The global nuclear medicine market size is expected to reach USD 12.17 billion by 2028 according to a new study by Polaris Market Research. The report “Nuclear Medicine Market Share, Size, Trends, Industry Analysis Report, By Type (Diagnostic, Therapeutic, Others); By Modality (Beta-emitters, PET, SPECT, Alpha-emitters, Brachytherapy, Others); By Application; By End-Use; By Regions; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The different types of nuclear medicine include diagnostic, therapeutic, and others. The diagnostic segment dominated the global radiopharmaceuticals market in 2020. However, nuclear medicine is increasingly being used in therapeutic procedures for the treatment of cancer and thyroid-related conditions. Radioimmunotherapy uses radiation therapy, immunotherapy, and radiotracers for the treatment of certain types of cancer. Brachytherapy uses iridium-192, which is introduced in the body for the destruction of cancer cells.

The market is segmented into Beta-emitters, PET, SPECT, Alpha-emitters, brachytherapy, and others, based on modality. The SPECT (Single-photon emission computed tomography) segment dominated the global Radiopharmaceuticals market in 2020. SPECT scan is a nuclear imaging test that creates 3-D images using a radioactive substance and a special camera.

Some radioisotopes used for SPECT scans include fluorine-18, xenon-133, iodine-123, and thallium-201 among others. SPECT scan examines blood flow to organs and the functioning of internal organs. SPECT scans are mostly used for the diagnosis of heart diseases, brain abnormalities, and bone disorders in the market.

The different applications of nuclear medicine in the market include thyroid, cardiology, bone metastasis, oncology, neurology, gastroenterology, immunology, and others. Nuclear medicine is used in neurology to accurately detect Alzheimer’s diseases, reveal brain abnormalities, and support surgical planning.

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The need for high detection accuracy, improved detection speed, and enhanced patient experience has increased the adoption of nuclear medicine. Nuclear medicine enables doctors to diagnose diseases and tumors or recurrence, radiation planning, localization, and track treatment progress.

The hospital segment dominated the global radiopharmaceuticals market in 2020. The growing need for early detection of severe ailments, growing geriatric population, and rising healthcare expenditure in developing countries, such as India, China, and Japan, boost the adoption of nuclear medicine in hospitals.

North America dominated the global radiopharmaceuticals market in 2020 and is expected to maintain its dominance over the forecast period. Rising occurrence of chronic diseases, advanced treatment options, early detection of severe medical conditions, and technological advancements are some factors boosting the adoption of nuclear medicine in the region.

Increasing applications in cancer detection and the presence of well-established healthcare infrastructure further increases the demand for Nuclear Medicine in North America. Asia-Pacific is expected to experience significant growth during the forecast period owing to the increasing geriatric population, rising spending on healthcare, and significant government investments aimed at providing improved healthcare services.

Some of the major market participants include Bracco Imaging S.P.A., Lantheus Medical Imaging, Inc., NTP Radioisotopes Soc, LTD, Eckert & Ziegler Group, Jubilant Pharma LLC, Australian Nuclear Science & Technology Organization, Cardinal Health, Isotopia Molecular Imaging Limited, Bayer AG, The Institute for Radioelements, Curium SAS, Advanced Accelerator Applications, Nordion, Inc., Mallinckrodt, and GE Healthcare.

Polaris Market Research has segmented the nuclear medicine market report on the basis of type, modality, application, end-use, and region: 

Nuclear Medicine Type Outlook (Revenue, USD Million, 2016 - 2028)

• Diagnostic
• Therapeutic
• Others

Nuclear Medicine Modality Outlook (Revenue, USD Million, 2016 - 2028)

• Beta-emitters
• PET
• SPECT
• Alpha-emitters
• Brachytherapy
• Others

Nuclear Medicine Application Outlook (Revenue, USD Million, 2016 - 2028)

• Thyroid
• Cardiology
• Bone Metastasis
• Oncology
• Neurology
• Gastroenterology
• Immunology
• Others

Nuclear Medicine End-User Outlook (Revenue, USD Million, 2016 - 2028)

• Hospitals
• Clinics and Diagnostic Centers
• Research Institutes
• Others

Nuclear Medicine Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • RoE
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • RoAPAC
• Latin America
  • Brazil
  • Mexico
  • Colombia
  • RoLATAM
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Israel
  • UAE
  • RoMEA