Nuclear Medicine Market Size, Share and Trends Analysis, By Product Type (Diagnostic and Therapeutic), By Source of Isotope Production (Nuclear Reactors, Cyclotrons, Generators, and Accelerators/Spallation Sources), By Application (SPECT, PET, and Therapeutic), By End-Use, and By Region, Forecast 2025-2032

Nuclear Medicine Market Overview and Key Insights:

The nuclear medicine market size reached USD 15.68 billion in 2024 and is expected to register a revenue CAGR of 12.9% during the forecast period. Nuclear medicine is a medical specialty that uses radioactive tracers, commonly known as radiopharmaceuticals, to evaluate body functioning as well as diagnose and cure diseases. The two most used imaging modalities in nuclear medicine are single photon emission computed tomography (SPECT) and positron emission tomography (PET).

Market Drivers:

Increase in prevalence for chronic diseases is a key factor driving the nuclear medicine market growth. According to the American Cancer Society, estimates for prostate cancer in the United States in 2025 are approximately 313,780 new cases of prostate cancer. Prostate cancer accounts for around 35,770 fatalities. Approximately one in every eight men will be diagnosed with prostate cancer over their lifetime. However, the risk of prostate cancer varies depending on the man’s age, race/ethnicity, and other factors. Prostate cancer is the second largest cause of cancer death among American males, trailing only lung cancer. Prostate cancer kills approximately one out of every 44 men.

Most nuclear medicine diagnostic techniques involve administering a radioactive tracer to the patient through an intravenous injection. Healthcare professionals can also deliver the tracer via inhalation, oral intake, or direct injection into an organ, depending on the disease under investigation. Physicians commonly use SPECT scans to detect and monitor the progression of heart conditions such as blocked coronary arteries. They also employ other radiotracers to identify bone disorders, gallbladder infections, and intestinal hemorrhage. In recent years, medical practitioners have started using SPECT agents to help diagnose Parkinson’s disease in the brain and to differentiate it from other movement disorders and dementias with similar anatomical features.

On March 2025, DOSIsoft, SA, a leading provider of patient-specific imaging and dosimetry software solutions for radiation oncology and nuclear medicine, announced that its latest product, PLANET Onco Dose version 3.2, has received FDA 510(k) clearance from the US Food and Drug Administration, following EU MDR CE Mark certification. The innovative PLANET platform is intended to combine a multi-radionuclide approach, apply multi-workflow solutions, and allow multi-therapy applications for both SIRT (Selective Internal Radiation Therapy) and MRT (Molecular Radiation Therapy) while adhering to U.S regulations.

Market Opportunity:

Expansion of brachytherapy into new cancer indications acts as opportunities for nuclear medicine market. Several post-treatment unpleasant effects or symptoms, as well as operational and logistical obstacles, restrict the use of interstitial BT. Emerging nanoplatforms have the potential to efficiently deliver radiopharmaceuticals to tumors. In comparison to free radioisotopes or radioisotopes functionalized with single tumor-specific proteins, nanoparticles can carry larger dosages of radioactivity and contain numerous radioisotopes within a single nanoparticle.

Furthermore, the use of cesium-131 (Cs-131) seeds has sparked a renewed interest in brachytherapy for the treatment of brain metastases. Cs-131’s short half-life and minimal vulnerability to post-surgical resection cavity dynamics are its key benefits over I-125 radioactive isotopes, allowing for higher efficacy and safety profiles. On April 2024, Varian, in collaboration with Maastro, a prominent radiotherapy center in the Netherlands, introduced a new brachytherapy applicator developed for precise delivery of HDR brachytherapy in the treatment of rectal cancer, with the goal of lowering the quality-of-life concerns associated with rectal surgery. Maastro radiation oncologists and physicists collaborated with Varian experts to create this novel partially 3D-printed applicator, which will provide radiotherapists with increased treatment alternatives.

Recent Trends:

Emerging trends include theranostics, PET/MRI hybrid imaging, Artificial Intelligence (AI) in image analysis, and advancements in radiopharmaceuticals.

The integration of PET and MRI in a single device has proven to be extremely effective in both fundamental preclinical and clinical studies. PET/MRI systems are now widely used in preclinical imaging and are making their way into clinical settings to provide more information on specific diseases, treatment assessments, and biological pathways.

Hybrid simultaneous PET/MRI systems offer a major advantage over PET/CT or sequential PET/MRI systems because they acquire data simultaneously, producing results that align both spatially and temporally. Coregistering successively acquired images helps researchers prevent misalignment errors. Furthermore, MRI collects “time-dependent” attenuation data, enabling attenuation correction for various motion states instead of relying on a static attenuation map.

On June 2023, GE HealthCare introduced the SIGNA PET/MR AIR system at the Society of Nuclear Medicine and Molecular Imaging (SNMMI) 2023 annual meeting, highlighting the integration of its cutting-edge AIR technologies. This system is designed to improve diagnostic accuracy, streamline treatment assessment, and enhance patient comfort. The incorporated AIR technologies cater to the changing needs of diverse patient groups. Key features include AIR Coils, which boost image quality while ensuring greater patient comfort; AIR Recon DL, which enhances MR image clarity and reduces scan times; and MotionFree Brain, which helps minimize motion artifacts in PET imaging.

Restraints & Challenges:

One major restraint is the technical challenge of constructing fully operable radiotheranostic centres. Authorities tightly restrict access to critical radioactive materials, while aging nuclear reactors, limited investment in modern production facilities, and lapses in good manufacturing practices create supply bottlenecks. Variations in global access to radioisotopes also pose a major challenge, emphasizing the need for stakeholders to coordinate efforts to expand production and strengthen delivery networks to meet growing demand. Additionally, unclear and inconsistent payment policies discourage healthcare providers from offering certain therapies, which limits patient access. Currently, policymakers and payers have yet to establish a consistent reimbursement framework for radiotheranostic therapy, and approaches vary widely across countries.

Product Type Segment Insights and Analysis:

Based on the product type, the nuclear medicine market is segmented into diagnostic and therapeutic.

Diagnostic segment contributed the largest market share during the forecasted period. It has been sub-segmented into Single-photon emission computed tomography (SPECT) radiopharmaceuticals and Positron Emission Tomography (PET) radiopharmaceuticals. Around 85% of diagnostic imaging procedures in nuclear medicine employ technetium-99m (99mTc). Molybdenum-99/Technetium-99m (99Mo/Tc-99m) generators are the primary source of 99mTc in radiopharmaceutical manufacture. The isotope can be coupled with a variety of ligands to target different organs, allowing doctors to tailor procedures to specific diagnostic requirements.

Aside from using bone scintigraphy to detect metastases, researchers can couple Tc-99m to tumor-seeking compounds to identify primary and metastatic tumors in soft tissues. For example, clinicians use Tc-99m-sestamibi for breast cancer imaging, and they employ other Tc-99m-labeled peptides to target specific receptors found in neuroendocrine tumors. Surgeons also use Tc-99m-colloids for sentinel lymph node mapping in breast cancer or melanoma, enabling them to locate and biopsy the node most likely to contain metastatic cells.

Production of Mo-99, from which Tc-99m is derived, continues to confront challenges, although continuous research into new technologies intends to strengthen and diversify the supply network. Furthermore, efforts to develop novel Tc-99m-based tracers promise even more tailored diagnostics, potentially improving the detection and characterization of certain diseases. Imaging technologies like SPECT-CT are constantly improving, increasing the value of Tc-99m in daily clinical practice.

On March 2025, The Medicines and Healthcare Products Regulatory Agency (MHRA) has approved trofolastat (RoTecPSMA), the first prostate-specific membrane antigen (PSMA)-targeting medication approved for use with technetium-99m to detect malignant lesions in males with prostate cancer. It attaches to a protein called PSMA found on prostate cancer cells, allowing doctors to spot malignant areas using the medical imaging technique known as single photon emission computed tomography (SPECT).

Source of Isotope Production Segment Insights and Analysis:

Based on the source of isotope production, the nuclear medicine market is segmented into nuclear reactors, cyclotrons, generators, and accelerators/spallation sources.

Generators segment contributed the largest market share in 2024. Radionuclide generator systems continue to play an important role in producing diagnostic and therapeutic radionuclides for use in nuclear medicine, cancer, and interventional cardiology. Almost every possible method has been used for parent/separation techniques, including sublimation, thermochromatographic separation, solvent extraction, and adsorptive column chromatography.

The 99Mo/Tc-99m generator system is the most used radionuclide generator for clinical applications, but in recent years, there has been a significant increase in the use of generators to provide therapeutic radionuclides, which has coincided with the development of complementary technologies for targeting agents for therapy and an overall increased interest in the use of unsealed therapeutic radioactive sources. Safety considerations, including radiation protection, waste management, and regulatory compliance, are essential to ensure radionuclides’ safe and sustainable use. The future of radionuclide production is promising, with technological advancements and emerging applications driving growth and innovation in the industry.

Application Segment Insights and Analysis:

Based on the application, the nuclear medicine market is segmented into SPECT, PET, and therapeutic.

PET segment contributed the largest market share in 2024. It has been sub-segmented into oncology, cardiology, neurology, others. According to the American Cancer Society,  breast cancer is the most frequent cancer in women in the United States, except for skin cancers. It accounts for around 30% (or one in every three) of all new female malignancies each year. It is expected to diagnose approximately 316,950 new cases of invasive breast cancer in women. They will also diagnose an estimated 59,080 new cases of ductal carcinoma in situ (DCIS). Breast cancer is expected to claim the lives of about 42,170 women.

Many more advancements in nuclear medicine for breast cancer are on the horizon. PET radiotracers are being developed to target different cancer receptors, including HER2 and the progesterone receptor. Furthermore, some radiotracers could be effective in the targeted therapy of breast cancer. Recent studies show that somatostatin receptor (SSTR)-targeted radiopharmaceutical therapy can effectively treat metastatic breast cancer. Additional research explores novel agents such as fibroblast activation protein (FAP)-targeted molecules, 18F-FDA PET/CT for systemic staging in newly diagnosed breast cancer patients, and 225Ac-NM600 to treat triple-negative breast cancer.

On October 2022, Eclipse, a venture capital firm that invests in the digital transformation of the world’s physical industries, and Mayo Clinic announced the formation and seed funding of Nucleus RadioPharma, a new company that will ensure cancer patients have access to potentially lifesaving radiopharmaceuticals by developing technologies to modernize the clinical development, manufacturing, and supply chain of these promising new therapies. Eclipse and Mayo Clinic teamed to establish Nucleus RadioPharma, which began with USD 6 million in early funding.

Geographical Outlook:

Nuclear medicine market is strategically segmented by geography to provide a comprehensive understanding of regional market dynamic. Discover demand analysis, emerging trends, and growth opportunities shaping market performance across different region and countries.

North America Nuclear Medicine Market:

North America is registered to have highest market share in nuclear medicine market in 2024. This is mainly driven by increase in prevalence for chronic diseases, technological advancements in imaging and 3D planning, and isotope delivery. According to the American Cancer Society, Non-Hodgkin lymphoma (NHL) is among the most frequent tumors in the United States, accounting for around 4% of all cancers. The estimations for non-Hodgkin lymphoma in 2025 are: approximately 80,350 persons (45,140 men and 35,210 women) will be diagnosed with NHL. This encompasses both adults and children. This malignancy will kill approximately 19,390 persons (11,060 men and 8,330 women).

Furthermore, increased awareness of minimally invasive cancer therapies is also driving the growth of the market. On September 2023, the International Atomic Energy Agency (IAEA) has signed two collaboration agreements with GE HealthCare as part of its ongoing efforts to improve cancer detection and treatment capability in low- and middle-income countries. GE HealthCare has agreed to donate USD 50,000 in in-kind training and practical arrangements. Under the agreed-upon practical arrangements, the IAEA and GE HealthCare will continue to collaborate on improving developing nations’ capacities to build or expand safe and effective radiation medical capabilities for cancer diagnosis and treatment.

Asia Pacific Nuclear Medicine Market:

Asia Pacific is expected to register the fastest growth rate during the forecasted period, driven by increase in prevalence for chronic diseases, growing adoption of cesium-131 and newer isotopes, and increase in approval of radiopharmaceuticals. In Asia-Pacific, hypothyroidism affects approximately 11% of individuals, compared to 2-4% globally. Pregnant women in the region had a greater prevalence of thyroid illness (13% vs. 5-7% overall). In the region, 5-7 out of every 10,000 kids are born with thyroid disorders, compared to the global norm of 3 per 10,000 births.

For instance, the Thyroid RAISE Program in Indonesia collaborates with different stakeholders to enhance healthcare professionals’ screening and diagnosis of thyroid diseases in high-risk groups. The program aims to boost access to hypothyroidism treatment by 5.5 times by 2030.

On April 2025, Sumitomo Corporation stated that its group company, Sumitomo Corporation of Americas, has signed a memorandum of understanding (MOU) for a strategic cooperation with SHINE Technologies. The alliance intends to investigate the distribution and commercialization of SHINE’s fusion-derived technology and medicinal isotopes in Japan and other Asian markets.

Europe Nuclear Medicine Market:

Europe is expected to have considerable market share in 2024. Every year, nuclear medical imaging helps up to 10 million European patients diagnose various ailments, including cancer and heart disease. The number of people benefiting from nuclear medicine is increasing, owing to technological advancements. European researchers and firms have created some of the most creative radionuclide cancer treatments, including medications for endocrine and prostate cancer.

Despite being the world leader in medical radioisotope supply, Europe is heavily reliant on the United States (about 80%) and Russia (the remaining 20%) for metallic high-assay low enriched uranium (HALEU) and some enriched isotopes for radioisotope production targets.

On April 2025, Curium, a global pioneer in nuclear medicine, announced the completion of its acquisition of Nucleis, a company specializing in GMP manufacturing and distribution of PET radiopharmaceuticals. The acquisition will increase manufacturing capacity to satisfy growing demand for F-18 tracers and strengthen Curium’s supply chain, assuring constant delivery of vital radiopharmaceuticals to healthcare professionals and patients throughout the Benelux region.

Competition Analysis:

The nuclear medicine market is characterized by a fragmented structure, with several players competing across various segments and regions. List of major players included in the nuclear medicine market report are:

• GE Healthcare
• Cardinal Health
• Bayer AG
• Bracco Imaging
• Medtronic plc
• Curium Pharma
• Siemens Healthineers
• Eckert & Ziegler
• Orano Group
• Mallinckrodt Pharmaceuticals
• Nordion
• Lantheus
• Jubilant Radiopharma
• Ariceum Therapeutics
• Medi-Radiopharma Ltd
• IBA 

Strategic Developments in Nuclear Medicine Market:

• In June 2025, Telix has announced that Gozellix, its next-generation PSMA-PET imaging agent for prostate cancer, is now commercially available in the United States. Gozellix is available through Telix’s extensive network of distribution partners, including Cardinal Health, Inc., PharmaLogic Holdings Corp., Jubilant Radiopharma, and RLS Radiopharmacies. Gozellix can be manufactured centrally using a cyclotron or locally using a gallium generator with activity levels of up to 500mCi, allowing for more production flexibility and on-demand capacity.
• In May 2025, SHINE Technologies, a nuclear fusion firm with a medical isotope product platform, announced that it has reached a definitive deal to purchase Lantheus’ SPECT business. The transaction will include a section of Lantheus’ SPECT product manufacturing plant in North Billerica, Massachusetts. SHINE and Lantheus are committed to providing constant patient access to vital medical isotopes.
• In April 2024, Evergreen Theragnostics has raised USD 26 million in funding from both existing shareholders and new investors Petrichor and LIFTT. With the funds, the Springfield, NJ-based company intends to commercialize its Ga-68 DOTATOC testing kit and push its theranostic pair, EVG-321, into clinical trials. Evergreen also plans to extend its skills as a contract development and manufacturing organization (CDMO).

Key Advantages for Stakeholders:

Navistrat Analytics’ industry report provides an in-depth quantitative analysis of various market segments, historical and current trends, market forecasts, and dynamics within the global market. The historical years covered in this report are 2022 to 2023, with 2024 serving as the base year for market size calculations. The forecast period extends from 2025 to 2032.

The report includes an executive summary and a comprehensive overview of market drivers, restraints, opportunities, and challenges (DROC), along with insights into regulatory standards. It features detailed analyses such as PORTER’s Five Forces, SWOT, and PESTLE, as well as assessments of technological trends and the competitive landscape.

PORTER’s Five Forces analysis helps stakeholders evaluate the impact of new entrants, competitive rivalry, supplier power, buyer power, and substitution threats, enabling them to assess the level of competition and the attractiveness of the global market. The competitive landscape provides stakeholders with a clear understanding of the current market positions of key players, offering valuable insights into their competitive environment.

Scope And Key Highlights Of The Nuclear Medicine Market Report:

The Nuclear Medicine market report offers a detailed analysis of market size, including historical revenue (in USD Billion) data for 2022-2023 and revenue forecasts for 2025-2032 across the following segments:

• Product Type Outlook (Revenue, USD Billion; 2022-2032)
  • Diagnostic
    • Single-photon emission computed tomography (SPECT) Radiopharmaceuticals
      • Technetium-99m (Tc-99m)
      • Iodine-123 (I-123)
      • Thallium-201 (Tl-201)
      • Xenon-133 (Xe-133)
      • Indium-111 (In-111)
    • Positron Emission Tomography (PET) Radiopharmaceuticals
      • Fluorine-18 (F-18)
      • Gallium-68 (Ga-68)
      • Carbon-11 (C-11)
      • Nitrogen-13 (N-13)
      • Rubidium-82 (Rb-82)
  • Therapeutics
    • Beta Emitters
      • Lutetium-177 (Lu-177)
      • Iodine-131 (I-131)
      • Yttrium-90 (Y-90)
      • Samarium-153 (Sm-153)
    • Alpha Emitters
      • Radium-223 (Ra-223)
      • Actinium-225 (Ac-225)
      • Astatine-211 (At-211)
      • Lead-212 (Pb-212)
    • Brachytherapy
      • Iodine-125 (I-125)
      • Palladium-103 (Pd-103)
      • Cesium-131 (Cs-131)
      • Iridium-192 (Ir-192)
      • Cobalt-60 (Co-60)

• Source of Isotope Production Outlook (Revenue, USD Billion; 2022-2032)
  • Nuclear Reactors
  • Cyclotrons
  • Generators
  • Accelerators/Spallation Sources

• Application Outlook (Revenue, USD Billion; 2022-2032)
  • SPECT
    • Bone Scans
    • Thyroid Applications
    • Pulmonary Scans
    • Others
  • PET
    • Oncology
    • Cardiology
    • Neurology
    • Others
  • Therapeutic
    • Thyroid Indications
    • Bone Metastasis
    • Lymphoma
    • Endocrine Tumors
    • Others

• End-Use Outlook (Revenue, USD Billion; 2022-2032)
  • Hospitals and Clinics
  • Diagnostic Imaging Centers
  • Academic & Research Institutes
  • Cancer & Oncology Centers
  • Contract Research Organizations (CROs)

• Regional Outlook (Revenue, USD Billion; 2022-2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Benelux
    • Nordic Countries
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Oceania
    • ASEAN Countries
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Israel
    • Turkey
    • Rest of MEA

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