Radiopharmaceuticals Market Size

Radiopharmaceuticals Market size is evaluated at USD 7.6 billion in 2024 and is poised to exceed USD 26.6 billion by the end of 2037, witnessing over 10.2% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of radiopharmaceuticals is estimated at USD 8.3 billion.

The increased frequency of chronic illnesses, the need for more sophisticated tests and treatments, and the development of diagnostic imaging technology are some of the reasons propelling the radiopharmaceuticals market's expansion. For instance, according to a World Health Organization (WHO) estimate, over 350 million of the 3.6 billion diagnostic tests performed globally each year involve pediatric patients.

Healthcare diagnostics have been completely transformed by developments in imaging modalities such as Positron Emission Tomography (PET) and Single Photon Emission Computed Tomography (SPECT). These technologies supplement conventional anatomical imaging techniques like CT and MRI with extensive functional and molecular information provided by radiopharmaceuticals. Market companies have improved diagnostic accuracy by developing novel radiotracers with higher specificity and sensitivity, which allows for earlier identification and more accurate characterization of chronic diseases. For example, in June 2023, GE Healthcare announced the release of the first exploratory PET nuclear imaging agent in history to assess and forecast responses to cancer immunotherapies. The recently created product makes use of 18F-CD8 in its diagnosis.