Nuclear Medicine Market - By Product, By Application, By End Use - Global Forecast, 2025 - 2034

Nuclear Medicine Market Size

The global nuclear medicine market was valued at USD 16.4 billion in 2024. The market is expected to reach from USD 19.4 billion in 2025 to USD 69.5 billion in 2034, growing at a CAGR of 15.2% during the forecast period, according to the latest report published by Global Market Insights Inc. The high market growth is attributed to the rising prevalence of cancer and cardiovascular diseases, increasing adoption of targeted radionuclide therapy, advancements in imaging technologies, and a growing geriatric population, among other contributing factors.

Nuclear medicine is a specialized branch of medical imaging and treatment that utilizes small amounts of radioactive materials (radiopharmaceuticals) to identify, keep track of, and manage different disorders. Besides, it provides functions and molecular inputs of organs and tissues, which are not yet captured by the traditional imaging.
 

The major contributors to the nuclear medicine market are Cardinal Health, Novartis, Lantheus (SHINE Technologies), GE Healthcare, Jubilant Pharma, and Curium Pharma. These companies strengthen their competitive position by ongoing product originality, worldwide market presence, and huge allocations in the research and development area.
 

The market has increased from USD 7.8 billion in 2021 and reached USD 13.6 billion in 2023, with the historic growth rate of 28.2%. The market growth was driven by the increasing geriatric population, supportive government initiatives and funding for nuclear medicine research, technological advancements in PET and SPECT imaging systems, and growing awareness of early and accurate disease diagnosis.
 

The increasing prevalence of cancer and cardiovascular diseases drives the adoption of nuclear medicine procedures. For instance, according to the World Health Organization (WHO), cancer cases are projected to increase by 77% from 2022 to 2050, with 35 million new cases expected by 2050. The American Cancer Society reported 1.9 million new cancer cases in 2023 in the U.S. alone.
 

Additionally, the Centers for Disease Control and Prevention (CDC) data shows that cardiovascular diseases affected 18.2 million adults in the U.S. in 2022. Nuclear imaging techniques, including PET and SPECT scans, enable physicians to detect diseases early, determine disease staging, and monitor treatment progress. As global cancer rates continue to rise, the demand for nuclear imaging agents and radiopharmaceuticals expands accordingly.
 

Furthermore, the shift toward precision medicine is fueling demand for targeted radionuclide therapies, such as radioligand therapies for prostate cancer and neuroendocrine tumors. These therapies deliver radioactive isotopes directly to diseased cells, minimizing damage to healthy tissue. Their growing clinical success is accelerating approval and adoption worldwide.
 

Nuclear Medicine Market Trends

The market is growing considerably with the growth of theranostics, integration of artificial intelligence (AI) in healthcare, expansion of hybrid imaging modalities, development of novel radiopharmaceuticals, and increasing adoption in emerging markets, among other factors collectively driving industry growth.
 

• Theranostics, combining therapy and diagnostics, is becoming a major trend in nuclear medicine. Its technology basically makes it possible for a radiopharmaceutical that was used for the detection of a disease to be further utilized for targeted treatment, most notably in the field of oncology. This approach improves treatment personalization and patient outcomes while reducing unnecessary interventions.
   
• Hybrid imaging systems like PET/CT, SPECT/CT, and PET/MRI are gaining traction due to their ability to provide both anatomical and functional information. These modalities improve disease detection and treatment planning, making them more appealing to advanced diagnostic centers. The trend is pushing manufacturers to innovate hybrid solutions with better resolution and lower radiation doses.
   
• Moreover, emerging economies in Asia Pacific, Latin America, and the Middle East are rapidly adopting nuclear medicine technologies. Growing healthcare infrastructure, rising awareness, and government initiatives to improve diagnostic services are driving this expansion. This trend is gradually balancing the historical concentration of nuclear medicine usage in developed regions.
   

Nuclear Medicine Market Analysis

Based on the product, the nuclear medicine market is segmented into diagnostics and therapeutics. The diagnostics segment dominated the market, accounting for a significant share of 66.1% in 2024, driven by the rising demand for early and accurate disease detection, widespread adoption of advanced imaging technologies, and the increasing prevalence of cancer and cardiovascular disorders. The segment is projected to surpass USD 26.8 billion by 2034, growing at a CAGR of 9% during the forecast period.
 

On the other hand, the therapeutics segment is expected to grow with a CAGR of 22.1%. The growth of this segment is driven by the rising adoption of targeted radionuclide therapies, increasing investment in novel radiopharmaceutical development, and expanding applications in personalized treatment for cancer and other chronic diseases.
 

• The diagnostics segment continues to dominate the market. The growing incidence of cancer, cardiovascular diseases, and neurological disorders is the primary factor pushing up the demand for nuclear diagnostic procedures. Methods like PET and SPECT scans allow early detection, accurate disease staging, and therapy monitoring. Early and accurate diagnosis gives the best chances for treatment and is the reason for the rising patient demand for advanced diagnostics.
   
• Diagnostics in nuclear medicine enable precise mapping of disease at the molecular level, supporting personalized treatment plans. Molecular imaging helps identify specific disease biomarkers and predict patient response to therapy. As personalized medicine gains traction, demand for advanced nuclear diagnostics continues to grow globally.
   
• The therapeutics segment held a revenue of USD 5.5 billion in 2024, with projections indicating a steady expansion at 22.1% CAGR from 2025 to 2034. The growth of the segment is driven by the growing adoption of targeted radionuclide therapies that enable precise treatment of cancer and other chronic diseases. Increasing investment and research in novel radiopharmaceuticals are expanding the range of therapeutic options.
   
• Technological advancements in delivery systems improve treatment efficacy and safety. Rising prevalence of oncology and cardiovascular disorders fuels demand for therapeutic interventions. Supportive regulatory approvals and government initiatives further accelerate market growth.
   

Based on application, the nuclear medicine market is segmented into neurology, cardiology, oncology, thyroid, pulmonary, and other applications. The neurology segment dominated the market in 2024, accounting for USD 4.9 billion and is anticipated to propel at a CAGR of 14.9% during the forecast period.

• Technological improvements in PET, SPECT, and hybrid imaging systems allow the detailed visualization of brain function and brain diseases. The higher resolution, shorter scan times, and new tracers that target amyloid and tau proteins have greatly improved the accuracy of diagnosis. More and more, hospitals and research centers are equipping themselves with these advanced instruments for neurology applications.
   
• Further, new radiotracers focusing on neurological biomarkers like amyloid, tau, and dopamine receptors are the main sources of application that are enabling the early diagnosis and continuous follow-up of the diseases. The developments give access to the exact and personalized assessment of the neurological disorders. The ongoing studies and clinical trials are facilitating the uptake of this technology in certain centers.
   
• The cardiology segment accounted for significant revenue in 2024 and is anticipated to grow at a CAGR of 15.4% over the forecast period. The growth of the segment is driven by the rising prevalence of cardiovascular diseases and the increasing use of nuclear imaging techniques like myocardial perfusion imaging for accurate diagnosis and risk assessment. Advancements in imaging technologies and radiotracers further enhance diagnostic precision and patient management.
   
• The oncology segment accounted for significant revenue in 2024 and is anticipated to grow at a CAGR of 16.5% over the forecast period. The oncology segment is driven by the growing incidence of various cancers and the increasing use of PET and SPECT imaging for early tumor detection, staging, and monitoring treatment response. Expansion of targeted radionuclide therapies also supports personalized cancer treatment and improves clinical outcomes.
   
• The thyroid segment accounted for significant revenue in 2024 and is anticipated to grow at a CAGR of 14.1% over the forecast period. The thyroid segment benefits from the rising prevalence of thyroid disorders and the widespread use of radioactive iodine (I-131) for both diagnosis and therapy. Advances in minimally invasive treatment protocols and improved radiotracers enhance the effectiveness of thyroid management.
   
• The pulmonary segment accounted for significant revenue in 2024 and is anticipated to grow at a CAGR of 14.3% over the forecast period. The pulmonary segment is propelled by increasing cases of pulmonary embolism and chronic lung diseases, where nuclear medicine techniques like ventilation-perfusion (V/Q) scans aid in accurate diagnosis. Growing adoption of hybrid imaging for assessing lung function and disease progression further drives the market demand.
   

Based on end use, the nuclear medicine market is classified into hospitals, diagnostic centers, research institutes, and other end users. The hospitals segment dominated the market with a revenue share of 59.7% in 2024 and is expected to reach USD 42.5 billion within the forecast period.
 

• Hospitals are adopting nuclear medicine technologies to offer advanced diagnostics such as PET, SPECT, and hybrid imaging. These services help in early disease detection, accurate staging, and treatment monitoring, which improves patient outcomes and hospital reputation. Rising patient awareness and demand for precise diagnostics further drive adoption.
   
• Growing hospital infrastructure, particularly in emerging markets, is driving nuclear medicine adoption. New hospitals and upgraded facilities are investing in nuclear imaging equipment to enhance their service offerings. This expansion allows hospitals to cater to a larger patient base and provide specialized diagnostics in oncology, cardiology, and neurology.
   
• The diagnostic centers segment held a revenue of USD 4.6 billion in 2024, with projections indicating a steady expansion at 15.1% CAGR from 2025 to 2034. These centers are driving market growth by offering specialized nuclear imaging services for a broad range of clinical applications, improving patient access to advanced diagnostics. Rising demand for outpatient and cost-effective imaging solutions further boosts their adoption of nuclear medicine technologies.
   
• The research institutes segment accounted for significant revenue in 2024 and is anticipated to grow at a CAGR of 14.3% over the forecast period. Research institutes propel the market through ongoing development of novel radiopharmaceuticals and innovative imaging techniques. Their focus on clinical trials and translational research supports the expansion of nuclear medicine applications across new therapeutic and diagnostic areas.
   

North America Nuclear Medicine Market

North America dominated the market with the highest market share of 50.9% in 2024.
 

• The U.S. market was valued at USD 3.8 billion and USD 5.1 billion in 2021 and 2022, respectively. The market size reached USD 7.8 billion in 2024, growing from USD 6.5 billion in 2023, and is anticipated to grow at a CAGR of 14.4% between 2025 to 2034.
   
• North America has a significant burden of cancer, cardiovascular diseases, and neurological disorders. Nuclear medicine techniques like PET and SPECT allow early detection, staging, and treatment monitoring; therefore, hospitals and diagnostic centers are making extensive use of these techniques to meet the rising demand. The increasing awareness of the patient and the adoption of preventive healthcare are other factors that contribute to the market growth.
   
• The region is a hub for advanced nuclear medicine technologies, including hybrid imaging systems (PET/CT, SPECT/CT) and AI-powered imaging solutions. Continuous innovation improves diagnostic accuracy, reduces scan times, and enhances patient safety. Hospitals and research centers actively adopt these technologies to remain competitive.
   
• Further, the region has a well-developed healthcare system with extensive hospital networks, specialized diagnostic centers, and research institutions. The availability of advanced facilities and skilled professionals supports the widespread adoption of nuclear medicine procedures. This robust infrastructure also encourages investment in new imaging technologies.
   

Europe Nuclear Medicine Market

Europe market accounted for USD 4.3 billion in 2024 and is anticipated to show lucrative growth over the forecast period.
 

• Several European countries are investing in advanced healthcare infrastructure, including nuclear medicine facilities. The focus of public health programs on early detection and better treatment results is pushing hospitals to use nuclear imaging technologies. Investments and grants in the area of nuclear medicine research are also the driving forces behind the expansion of the market.
   
• Europe is the centre of clinical research and trials for new radiopharmaceuticals and tracers. Hospitals, academic institutions, and pharmaceutical companies are engaging themselves in collaborations in which they aim to develop innovative diagnostic agents for oncology, cardiology, and neurology. Consequently, this effective R&D ecosystem gives the green light to the utilization of sophisticated nuclear medicine procedures.
   

Asia Pacific Nuclear Medicine Market

The Asia Pacific market is anticipated to grow at the highest CAGR of 17.3% during the analysis timeframe.
 

• The Asia Pacific region is witnessing significant investments across many countries in state-of-the-art healthcare facilities and diagnostic centers. This infrastructure growth includes the establishment of nuclear medicine departments equipped with PET, SPECT, and hybrid imaging systems. Such developments are key drivers of improved accessibility and adoption of nuclear medicine procedures across the region.
   
• Rising patient awareness about early disease detection, particularly for cancer, cardiovascular, and neurological conditions, is further propelling the adoption of nuclear medicine. Government campaigns and public health initiatives are playing a crucial role by educating patients about preventive diagnostics, thereby encouraging hospitals and clinics to integrate nuclear imaging services.
   
• Moreover, the combined effects of rapid urbanization and lifestyle changes in the Asia Pacific region have led to a sharp increase in chronic diseases such as cancer, diabetes-related cardiovascular issues, and neurological disorders. As a result, nuclear medicine offering accurate, non-invasive diagnostic solutions has emerged as a preferred choice for disease detection and management among this growing patient population.
   

Latin America Nuclear Medicine Market

The Latin America market is experiencing robust growth over the analysis timeframe.
 

• The Latin America market is primarily driven by the rising prevalence of chronic diseases such as cancer, cardiovascular disorders, and neurological conditions, which are creating strong demand for advanced diagnostic imaging solutions. Growing awareness among patients and healthcare providers about the importance of early disease detection is further encouraging the adoption of PET and SPECT procedures.
   
• The expansion of both private and public healthcare infrastructure, particularly in urban centers, is improving access to nuclear medicine services. Investments in modern imaging equipment and hybrid systems by hospitals and diagnostic centers are supporting market growth. Additionally, regional governments are implementing favorable policies and reimbursement schemes to promote the use of advanced diagnostics.
   
• Collaborations with international suppliers and the introduction of training programs for healthcare professionals are also facilitating the wider adoption of nuclear medicine technologies across Latin America.
   

Middle East & Africa Nuclear Medicine Market

The Middle East & Africa (MEA) market is experiencing robust growth over the analysis timeframe.
 

• The regional growth is driven by growing investments in healthcare infrastructure, including the establishment of advanced diagnostic and oncology centers. Rising prevalence of cancer, cardiovascular, and neurological disorders is increasing the need for early detection and accurate disease monitoring.
   
• Governments are launching initiatives and public health programs to promote advanced diagnostics and preventive care. Adoption of modern imaging technologies, such as PET/CT, SPECT/CT, and hybrid systems, is expanding rapidly in major urban hospitals.
   
• Availability of skilled professionals through training programs and collaborations with international institutions is supporting market growth. Additionally, favourable regulatory reforms and increasing partnerships with global radiopharmaceutical suppliers are facilitating wider deployment of nuclear medicine services across the region.
   

Nuclear Medicine Market Share

The market is highly competitive, driven by continuous technological innovation, strategic collaborations, and product differentiation. Companies are investing heavily in research and development to introduce novel radiopharmaceuticals, advanced imaging systems, and hybrid modalities such as PET/CT and SPECT/CT.
 

Key players include Cardinal Health, Novartis, Lantheus (SHINE Technologies), GE Healthcare, Jubilant Pharma, and Curium Pharma, collectively accounting for 72.1% of the total market share. These leading players maintain their dominance through strong distribution networks, comprehensive product portfolios, and a focus on precision diagnostics and targeted therapies.
 

In addition to the established multinational companies, several regional and emerging players are entering the market, intensifying competition. Strategic initiatives such as mergers and acquisitions, partnerships with hospitals and research institutions, and geographic expansion are common tactics to enhance market presence.
 

Continuous advancements in imaging technologies, coupled with increasing demand for personalized medicine, are compelling companies to innovate and expand their nuclear medicine offerings. This dynamic competitive landscape is expected to drive overall growth, improve patient outcomes, and accelerate adoption across global healthcare markets.
 

Nuclear Medicine Market Companies

Few of the prominent players operating in the nuclear medicine industry include:

• Actinium Pharmaceuticals
• Boston Scientific
• Bracco
• Cardinal Health
• Curium Pharma
• GE Healthcare
• Jubilant Pharma
• Lantheus (SHINE Technologies)
• Novartis
• RadioMedix
• RLS Radiopharmacies
• Siemens Healthineers
• Sirtex
• Sun Pharma
• Theragenics
   
• Cardinal Health

Cardinal Health is leading the nuclear medicine market with a 20.9% share in 2024, and its robust radiopharmaceutical distribution network and reliable supply chain ensure timely delivery to hospitals and imaging centers across the globe. Its broad diagnostic isotope portfolio and strong partnerships with healthcare providers reinforce its market leadership.
 

• Novartis

Novartis stands out with its innovative theranostic approach, offering targeted radionuclide therapies like Lutathera and Pluvicto. Its strong R&D capabilities and global commercialization reach allow it to lead in both therapeutic and diagnostic nuclear medicine.
 

• Lantheus

Lantheus differentiates itself through a focus on advanced diagnostic imaging agents and nuclear cardiology solutions. Its pipeline of novel radiopharmaceuticals and commitment to enhancing clinical outcomes strengthens its competitive position in the market.
 

Nuclear Medicine Industry News:

• In May 2025, SHINE Technologies announced a definitive agreement to acquire the SPECT business from Lantheus, including its North Billerica, Massachusetts campus, where SPECT products were manufactured. This acquisition expands SHINE’s capabilities across the radiopharmaceutical supply chain and strengthens its production capacity. The deal is expected to support the nuclear medicine market by ensuring a stable isotope supply, enhancing manufacturing infrastructure, and fostering business growth in diagnostic imaging.
   
• In October 2024, GE HealthCare introduced Aurora, a new dual-head SPECT/CT system equipped with AI-powered technologies designed to enhance clinical precision and expand diagnostic capabilities. The system aims to broaden the range of procedures for cardiac patients while also supporting cancer and neurological disorder management. This development is strengthening the nuclear medicine market by advancing early detection, improving abnormality localization, and increasing the adoption of AI-driven imaging solutions.
   
• In October 2024, Sanofi and Orano Med entered into an agreement to combine their expertise in addressing rare cancers and accelerate the development of next-generation radioligand medicines. They invested in a new entity under the Orano Med brand, focused on the discovery, design, and clinical development of radioligand therapies based on lead-212 (212Pb) alpha-emitting isotopes. This collaboration is expected to boost the market by strengthening the pipeline of advanced RLTs, fostering innovation in rare cancer treatment, and enhancing industry partnerships.
   

The nuclear medicine market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2034 for the following segments:

Click here to Buy Section of this Report

Market, By Product

• Diagnostics
  • Single photon emission computed tomography (SPECT) isotopes
    • TC-99m
    • I-123
    • GA-67
    • TL-201
    • Other SPECT isotopes
  • Positron emission tomography (PET) isotopes
    • F-18
    • RB-82
    • Other PET isotopes
• Therapeutics
  • Beta emitters
    • I-131
    • Lu-177
    • Y-90
    • SM-153
    • Re-186
    • Other beta emitters
  • Brachytherapy isotopes
    • Iridium-192
    • Iodine-125
    • Cesium-131
    • Palladium-103
    • Other brachytherapy isotopes
  • Alpha emitters
    • RA-223
    • Other alpha emitters

Market, By Application

• Neurology
• Cardiology
• Oncology
• Thyroid
• Pulmonary
• Other applications

Market, By End Use

• Hospitals
• Diagnostic centers
• Research institutes
• Other end use

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE