Therapeutic Nuclear Medicine Market size is poised to expand significantly over 2023-2032, owing to the growing awareness of its effectiveness in treating hyperthyroidism and thyroid cancer. The treatment of patients with thyroid disorders includes the use of radioactive iodine and palliative care for bone metastasis with radioactive bone-seeking agents.
According to the American Cancer Society’s estimates, in 2022, around 43,800 new thyroid cancer cases were registered, proliferating the adoption of nuclear medicine therapy. Nuclear medicine refers to a specialization of radiology involving the therapeutic and diagnostic use of radioactive materials. The nuclear medicine imaging technique can identify the structure and function of internal organs and support the early detection of diseases or abnormalities. This therapeutic approach may also be used with or after cancer treatments, including surgery and chemotherapy.
Over recent years, cancer has emerged as one of the leading causes of death, which may bolster the global therapeutic nuclear medicine market outlook. As per statistics from the WHO, over 2.26 million people were diagnosed with breast cancer in 2020. This increasing disease incidence will boost the demand for nuclear medicine therapeutics for patients who no longer respond to other cancer therapies. Likewise, rapid advancements in CT imaging techniques and the evolution of radiotherapy will create lucrative opportunities for nuclear therapy development in the upcoming years.
In terms of the radionuclide, the beta emitters segment is set to hold a considerable share of the therapeutic nuclear medicine industry by 2032. The capability to reduce bone loss and bone pain due to cancer-causing diseases will amplify therapy use. Exposure to radiation and chemotherapy can increase the risk of fractures and osteoporosis. Beta-emitted radionuclides interact selectively with target tissues and reach the surroundings of target cells. The emergence of this therapeutic option as an effective means of providing large radiation doses to targeted locations will further contribute to its adoption in cancer treatment.
Therapeutic nuclear medicine market value from the ambulatory surgical centers end-use segment will depict a sizable revenue rate over the forecast period, considering the rapid rise of the personalized care delivery trend. The burden of colorectal cancer is also rising worldwide. As per CDC data, 68% of deaths from this cancer could be avoided through effective screening of all eligible patients. The awareness of the disease treatment will thus encourage patients to opt for cost-effective screening colonoscopies in ASCs and ensure savings in health expenditures, fueling industry expansion.
From a regional standpoint, the North America therapeutic nuclear medicine industry progressionwill amass commendable gains over 2023-2032. The increasing investment in tumor treatments and the extensive development of radiopharmaceuticals are major factors propelling regional industry scenario .
The competitive landscape of the global therapeutic nuclear medicine market comprises companies such as Advanced Accelerator Applications (Novartis), Progenics Pharmaceuticals (Lantheus Holdings), Eckert & Ziegler, and Jubilant Pharma, among others. These companies are focusing on product range expansions, collaborations, and other strategies to reinforce their presence in the market.