Nuclear Medicine Market Size

Nuclear Medicine Market size was over USD 12.94 billion in 2024 and is set to cross USD 143.71 billion by the end of 2037, growing at more than 20.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of nuclear medicine is estimated at USD 15.04 billion. The growth of the market can be attributed to growing cases of cancer all around the globe. According to the World Health Organization, cancer is the largest cause of mortality in the globe, accounting for over 10 million deaths in 2020, or roughly one in every six.

Radiopharmaceuticals are formulations that are used in diagnosis and therapeutics. Beside, being beneficial in treating cancer, they are also used in treatment of cardiac and neurological disorders. Therefore, the growing prevalence of neurological disorders is also expected to boost the growth of the market. According to PAN American Health Organization, neurological illnesses are responsible for 8.2 million YLDs, 3.1 million YLLs in men, and 5.1 million YLLs in women in the region in 2019.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of nuclear medicine is estimated at USD 15.04 billion.

The nuclear medicine market size was over USD 12.94 billion in 2024 and is set to cross USD 143.71 billion by the end of 2037, growing at more than 20.1% CAGR during the forecast period i.e., between 2025-2037. The market growth is driven by growing prevalence of cardiovascular diseases, growing geriatric population, new product launches by key players, and others.

Asia Pacific industry is poised to dominate majority revenue share by 2037, owing to increasing awareness about nuclear medicine and growing investment in nuclear medicine space in the region.

The major players in the market include GE Healthcare, Jubilant Pharmova Limited, Nordion (Canada), Inc., Bracco Imaging S.P.A, The Institute for Radioelements (IRE), NTP Radioisotopes SOC Ltd., The Australian Nuclear Science and Technology Organization (ANSTO), Mallinckrodt Pharmaceuticals, Lantheus, Eckert & Ziegler.

Nuclear Medicine Market Size