According to a recent report by Coherent Market Insights, the global Nuclear Medicine Market is estimated to be valued at USD 18.32 Bn in 2025 and is expected to reach USD 38.52 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 11.2% from 2025 to 2032. The substantial growth of the market is driven by the rising incidence of chronic diseases, increasing demand for early and accurate diagnosis, and ongoing advancements in nuclear medicine technology.
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Global Nuclear Medicine Market Key Takeaways
According to Coherent Market Insights (CMI), the global nuclear medicine market size is anticipated to expand from USD 18.32 Bn in 2025 to USD 38.42 Bn by 2032, registering a CAGR of 11.2%.
Based on type, diagnostic nuclear medicine segment is expected to account for nearly two-thirds of the global nuclear medicine market share in 2025.
By application, oncology category will likely hold a market share of nearly 1/3 in 2025, owing to rising cases of cancer.
In terms of end user, hospitals & clinics segment is projected to account for more than one-fourth of the global nuclear medicine market revenue share by 2025.
North America is expected to retain its dominance, accounting for nearly one-third of the global market share in 2025.
As per Coherent Market Insights’ latest nuclear medicine market analysis, Asia Pacific is poised to record fastest growth during the forecast period. This can be attributed to increasing incidence of chronic diseases and rising demand for early diagnostics.
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Rising Prevalence of Chronic Diseases Spearheading Market Growth
Coherent Market Insights’ latest nuclear medicine market research highlights major factors driving industry growth. One such prominent growth factor is the rising incidence of chronic diseases.
There is a spike in chronic conditions like cancer and cardiovascular diseases. For instance, the World Health Organization (WHO) estimates the annual number of new cancer cases to exceed 35 million by 2050. This alarming rise is expected to create demand for diagnostic and therapeutic nuclear medicine procedures.
Nuclear medicine plays a key role in early disease detection and effective management. It utilizes radioactive substances like radiopharmaceuticals to diagnose and treat diseases like cancer.
For example, radiopharmaceuticals in PET scans are widely used for oncology imaging to detect, stage, and monitor cancers. Thus, increasing cases of chronic diseases like cancer will play a key role in fostering nuclear medicine market growth.
Also Read: Radiopharmaceuticals in Nuclear Medicine Market Size, Share & Trends Analysis Report (2025-2032)
High Cost and Regulatory Hurdles Limiting Market Growth
The future nuclear medicine market outlook looks promising, owing to rising incidence of chronic diseases and increasing demand for advanced diagnostic tools. However, high cost associated with nuclear medicine equipment and procedures poses a significant challenge to market expansion.
Advanced imaging devices like PET and SPECT scanners, along with radiopharmaceuticals, require substantial investment. This cost barrier restricts adoption, particularly in developing regions, and negatively impacts overall nuclear medicine market demand.
Moreover, regulatory approvals for radiopharmaceuticals are often complex as well as time-consuming. This slows down the commercialization and innovation pipeline, thereby limiting growth of the nuclear medicine industry.
Rising Adoption of Advanced Imaging Technologies Creating New Opportunities
Advanced imaging technologies like PET scans and SPECT scans are gaining immense traction globally. This is due to their tendency to provide superior imaging capability. High adoption of these cutting-edge imaging technologies is expected to create growth avenues for nuclear medicine companies.
The application of nuclear medicine is rapidly expanding in neurology, endocrinology, and orthopedics. This will also open revenue-generation streams for radiopharmaceutical manufacturers.
Impact of AI on the Nuclear Medicine Market
Artificial Intelligence (AI) is making waves in the nuclear medicine landscape by driving innovation, reducing costs, and improving patient outcomes. It helps companies improve diagnostic accuracy, enhance workflow efficiency, and enable personalized treatment plans.
AI-powered imaging algorithms assist in early and precise detection of diseases like cancer and neurological disorders through advanced image reconstruction and analysis. Similarly, AI streamlines radiopharmaceutical development and optimizes dose planning.
Emerging Nuclear Medicine Market Trends
Rising popularity of personalized medicine is a key growth-shaping trend in the market. There is a notable shift towards targeted therapies and precision medicine, which rely heavily on advanced imaging techniques for accurate patient stratification. This growing demand for precise diagnostic tools is creating growth opportunities for the nuclear medicine industry.
Increasing demand for early and accurate diagnostics is also positively impacting the nuclear medicine market. Patients and healthcare professionals are increasingly opting for nuclear medicine procedures for early and precise diagnosis to initiate timely interventions.
Growing interest in minimally invasive diagnostic techniques is driving demand for nuclear medicine procedures. These techniques typically involve the injection of radioactive tracers and provide functional imaging with minimal patient discomfort, making them attractive to both clinicians and patients.
Ongoing advancements in radiopharmaceutical are expected to boost the nuclear medicine market value. Industry players are striving to develop targeted radiopharmaceuticals like alpha emitters (e.g., Radium-223 and Actinium-225) and theranostic agents for more accurate imaging and treatment.
Also Read: Nuclear Imaging Equipment Market Size, Share, Trends & Opportunities for 2025-2032
Analyst’s View
“The global nuclear medicine industry is poised for rapid expansion, owing to rising incidence of cancer and cardiovascular diseases, growing demand for advanced diagnostic technologies, and continuous advancements in radiopharmaceuticals,” said senior analyst Vipul Patil.
Current Events and Their Impact on the Nuclear Medicine Market
|
Event |
Description and Impact |
|
FDA Approval of Novartis' Pluvicto Expansion (2025) |
|
|
Launch of Theranostic Centers Globally |
|
|
AI Integration in SPECT/PET Workflow |
|
Competitor Insights
Key companies listed in nuclear medicine market report:
- GE Healthcare
- Siemens Healthineers
- Philips Healthcare
- Bracco Imaging
- Toshiba Medical Systems
- Eczacıbaşı-Monrol
- Canon Medical Systems
- Lantheus Medical Imaging
- Mallinckrodt Pharmaceuticals
- RadioMedix
- Bayer AG
- IBA Radiopharma Solutions
- Advanced Accelerator Applications
- Actinium Pharmaceuticals
- Nordion (a Sotera Health company)
Key Developments
In April 2025, Bayer officially launched a first-in-human Phase I clinical trial evaluating BAY 3547926 (225Ac‑GPC3), an investigational targeted alpha radiopharmaceutical, for advanced hepatocellular carcinoma (HCC), a form of liver cancer. This therapy combines a GPC3-directed antibody with the alpha emitter actinium‑225 to deliver high-energy radiation directly to tumor cells expressing Glypican.
In March 2025, Actinium Pharmaceuticals launched ATNM-400 radiotherapy for the treatment of prostate cancer. This advanced therapy uses the actinium-225 (Ac-225) radioisotope for targeting prostate cancer.
In September 2024, Sanofi entered into an exclusive licensing agreement with RadioMedix and Orano Med focusing on AlphaMedix™ (²¹²Pb‑DOTAMTATE), a next-generation radioligand therapy for rare cancers (neuroendocrine tumors).
Market Segmentation
Type Insights (Revenue,
USD Bn, 2020 - 2032)
- Diagnostic Nuclear Medicine
- SPECT Radiopharmaceuticals
- Tc-99m
- I-123
- Tl-201
- Ga-67
- Other SPECT Isotopes
- PET Radiopharmaceuticals
- F-18
- Rb-82
- Other PET Isotopes
- Therapeutic Nuclear Medicine
- Alpha Emitters
- Ra-223
- Beta Emitters
- I-131
- Y-90
- Sm-153
- Lu-177
- Re-186
- Other Beta Emitters
- Brachytherapy Isotopes
- Cesium-131
- Iodine-125
- Palladium-103
- Iridium-192
- Others
Application Insights (Revenue, USD Bn, 2020 - 2032)
- Oncology
- Cardiology
- Neurology
- Endocrinology
- Bone Metastasis
- Gastroenterology
- Pulmonology
- Infectious Diseases
- Others
End User Insights (Revenue, USD Bn, 2020 - 2032)
- Hospitals & Clinics
- Diagnostic Centers
- Research Laboratories
- Academic Institutions
- Others
Regional Insights (Revenue, USD Bn, 2020 - 2032)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Also Read: Oncology Radiopharmaceuticals Market Size, Share & Trend Analysis Report (2025-2032)
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