Nuclear Medicine Market Trends

Growth Drivers

• Technological advancements in imaging systems: Advancements in nuclear imaging technology continue to be a major contributor to the share of the market. For example, the development of hybrid imaging systems such as PET-CT and PET-MRI has transformed the diagnostic paradigm and enabled more precise diagnostic imaging even earlier in the disease process for cancers, neurological disorders, and cardiovascular diseases. In June 2025, Stanford Medicine announced the extension of its research partnership with GE HealthCare to develop and study new total body PET/CT technology to explore new clinical opportunities and improve patient outcomes through disruptive imaging technologies. The partnership advances the boundaries of molecular imaging through the combination of the clinical and research expertise of Stanford Medicine with the engineering expertise of GE HealthCare.

• Increase in cancer prevalence and demand for targeted therapies: As per the National Cancer Institute, globally, there were 9.7 million cancer-related deaths and about 20 million new cases in 2022. It is anticipated that there would be 18.2 million cancer-related deaths and 33 million new cancer cases annually by 2050. As a result, the use of radiopharmaceuticals for targeted therapy with applications in oncology has steadily increased in importance since it allows for the targeted delivery of radiation to cancer cells. As more radiopharmaceuticals are being developed to treat a variety of cancers, there will be an increased need for nuclear medicine, including demand for personalized treatment. This makes a significant contribution to the market growth.

• Aging population and rise in age-related diseases: The World Health Organization (WHO) forecast predicts that one in six individuals worldwide will be 60 years of age or older by 2030. As people continue to live longer lives, the prevalence of age-related illnesses also continues to rise. This will lead to a greater need for diagnostic devices such as PET scans and SPECT imaging. These imaging modalities are essential for early diagnosis of neurodegenerative diseases, which can allow for timely intervention and better management of these types of diseases in the future.

Challenges

• High costs of radiopharmaceuticals and imaging equipment: A key problem for the market is the price of radiopharmaceuticals and imaging equipment. In most cases, radiopharmaceuticals are produced in specific facilities with often very specific equipment, leading to overall higher costs for treatments. Imaging equipment is costly to obtain and maintain as well. These costs and the situation in limited and middle-income countries and areas with constrained health care budgets mean access to nuclear medicine may be limited.

• Regulatory and safety concerns: The nuclear medicine industry must deal with heavy regulation because of safety concerns over radioactive materials. Radiopharmaceuticals, as well as the devices used in nuclear imaging, will require regulation from both the FDA and EMA safety concerns. The combination of regulatory oversight and product approvals slows the timing, risk, and costs of bringing market approval for the product into consideration when approved. The handling, administration, and disposal of radioactive materials is a risk as well, which requires substantial safety protocols and training. This can impact availability for nuclear medicine in some specific geolocation regions.