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The Global Nuclear Medicine Market was valued at USD 9.8 billion in 2024 and is projected to reach USD 25.4 billion by 2034, growing at a CAGR of 10.1% during the forecast period 2025–2034.
Cancer and cardiovascular diseases are at the forefront of increasing demand for nuclear medicine ever since personalized medicine became its demand. Allied Investments of government in radioisotope production industry and molecular imaging research are the precursors of this growth. International Atomic Energy Agency (IAEA) mentions that over 70% of advanced cancer patients can benefit from procedures involving nuclear medicine and hence, there is increasing demand for diagnostic and therapeutic radiopharmaceuticals.
National agencies like the U.S. Department of Energy and the National Institutes of Health are making a concerted effort to bolster national capacity to produce clinically relevant isotopes such as Technetium-99m (Tc-99m), Gallium-68 (Ga-68), and Lutetium-177 (Lu-177) for use in SPECT and PET imaging and radioligand therapy. Formerly, the Centres of Medicare and Medicaid Services (CMS) are also modifying their reimbursement policies to facilitate the use of advanced nuclear imaging for early disease detection.
By 2024, despite differences in the general adoption of nuclear medicine, which is expected to vary by region due to differences in infrastructure, international efforts such as the IAEA Technical Cooperation Programme and those by the OECD Nuclear Energy Agency in the area of radioisotopes are closing supply chain gaps and causing harmonized development. The routine clinical workflows leveraging hybrid imaging systems such as PET/CT and SPECT/CT have fuelled the call for precision diagnostics and therapy monitoring further in important diagnostic fields, namely oncology, neurology, and cardiology.
Controlled investments in nuclear medicine infrastructure, coupled with public-private partnerships in isotope production and technological developments in radiopharmaceutical formulation, are expected to sustain the dynamism of this market. Ko-Autdr, accompanied by WHO initiatives to promote access to key diagnostic technologies in the low- and middle-income nations, is clearly expanding global market potential. Ordinarily, these policies combined with an aging population and focus on early disease detection are positioning nuclear medicine as a key player in modern health care within a decade.
Spending massively on infrastructure for nuclear medicine has become a global trend for governments to meet clinical demands at home and to secure sources for domestic isotope supply chains. U.S. Department of Energy (DOE) has set aside money for a lot of initiatives at the federal level, like the Isotope Program and Advanced Nuclear Medicine Initiative. One important achievement would be to significantly expand production of isotopes required in diagnosing and treating patients, such as Mo-99/Tc-99m, I-131, and Lu-177. To complement the efforts, NIH and National Cancer Institute (NCI) initiated grant programs that supported research in targeted cancer radiotracers and focused on other areas covering neurological imaging.
For example, one of the several initiatives funded by EURATOM, namely, SAMIRA, provides the necessary support for safe and timely availability of medical radioisotopes to the Member States of the EU. The IAEA's Radiopharmaceuticals Programme is plugging in also to aid low- and middle-income countries to install nuclear medicine laboratories. Long-term investment in these capital projects provides a solid foundation for the fast-tracked discovery, manufacturing, and distribution of radiopharmaceuticals for the accelerated development of the market.
National health agencies recommend hybrid imaging technologies such as PET/CT and SPECT/CT for greater accuracy in diagnosis in oncology and cardiology. The Centres for Medicare & Medicaid Services (CMS) have extended coverage for PET tracers whenever utilized for staging cancer or performing myocardial perfusion imaging. They are being recognized as taking an important step towards early treatment decisions for patients and toward more cost-effective care.
As stated by the International Atomic Energy Agency (IAEA), Canada, Japan, and Germany are perhaps the most advanced countries vigorously scaling up their hybrid imaging facility setups under government-sponsored programs. The U.S. FDA has also specified approvals to several new PET radiotracers for neuroendocrine tumours and for detecting Alzheimer-associated amyloid plaques, which tends to bolster their use within institutions and in outpatient centres. Such technological advancements strengthen the direction of making precision imaging part of the same clinical pathway in global initiatives.
In the nuclear medicine market, perhaps the most fruitful given opportunity is that of public sector-led innovation and the strategies for isotope self-reliance. The countries of the United States, Canada, India, and Australia are embarking on national initiatives to enhance local production of key medical isotopes such as Technetium-99m (Tc-99m), Lutetium-177 (Lu-177), and Gallium-68 (Ga-68). The U.S. Department of Energy (DOE) and National Nuclear Security Administration (NNSA) are funding non-HEU based Mo-99 production projects to secure domestic supply and to reduce reliance on aging international reactors.
Another transformation opportunity exists to embed artificial intelligence (AI) for image interpretation, dose planning, and clinical decision support in nuclear imaging. The programs supported by the National Institutes of Health (NIH) and the European Commission's Horizon Europe support AI-driven diagnostic platforms for improved accuracy in early detection and efficiency in workflow for PET/SPECT modalities. These technologies will go a long way toward improving the clinical value of nuclear medicine while reducing the healthcare costs associated with treatment for late-stage diseases.
The Africa Initiative on Nuclear Medicine aims at promoting regional and global cooperation, encompassing both CRPs and the IAEA's larger initiatives, and increasing the availability of open-access training on isotope production, preparation of radiopharmaceuticals, and hybrid imaging practices. Such efforts are intended to ensure both modes of nuclear medicine accessible to the wider world and access plus capacity building among developing economies.
The global nuclear medicine market suffers a series of constant challenges that must be overcome for that market's demand and investiture by the government to be explore. One of the most important points at which to turn for nuclear medicine supply-shortage vulnerability is the very supply system. According to OECD Nuclear Energy Agency (NEA) and IAEA, countries are still relying very much on a few old-age reactors to the production of isotopes, including NRU (Canada), BR2 (Belgium), and SAFARI-1 (South Africa); the failure or decommissioning of such plants can lead to global shortages on critical isotopes such as Mo-99 which affects diagnosis and treatment hence creating problems in nuclear medicine.
The other bottleneck pertains to the complexity of the regulations and high compliance costs associated with isotopes. All these are under the WHO and national nuclear regulatory authorities under transport, storage, and usage of radiopharmaceuticals but they will only help create administrative overhead and operating burdens to hospitals and imaging centres more in low- and middle-income countries.
Constraint market development is the manpower shortage of nuclear medicine specialists, particularly radiochemists, nuclear pharmacists, and medical physicists. Many countries do not have formal training programs in nuclear medicine, leading to underutilization of imaging equipment and slower technology adoption. Addressing this human capital gap through public grants for training and partnerships with universities is necessary for unlocking the full potential of nuclear medicine at a global scale.
The global nuclear medicine market, by type, is segmented into Diagnostic Radiopharmaceuticals and Therapeutic Radiopharmaceuticals.
Among these, Diagnostic Radiopharmaceuticals are expected to control the market due to the enormous volume of clinical use in the diagnosis of cancers, cardiac disorders, and neurological conditions. As per the International Atomic Energy Agency (IAEA), more than 80% of the nuclear medicine procedures globally are diagnostic in nature, with Technetium-99m (Tc-99m) making an overwhelming majority among them. The practices are mostly constructed in public hospitals, and it is supported by isotope production efforts under the U.S. Department of Energy (DOE) and IAEA’s Technical Cooperative Programme. The emergence of hybrid scanners in PET and SPECT has further heightened the demand for advanced diagnostic isotopes such as Fluorodeoxyglucose (FDG) and Gallium-68 (Ga-68).
Therapeutic Radiopharmaceuticals, meanwhile, are witnessing rapid growth, especially in targeted oncology. Radioisotopes such as Lutetium-177 (Lu-177) and Iodine-131 (I-131) are widely used in the treatment of neuroendocrine tumours and thyroid cancer. Programs funded by governments such as the NIH’s Cancer Research Initiatives, as well as Euratom’s SAMIRA initiative, are actively supporting research into therapies and their scale-up towards production and clinical implementation in Europe, the U.S., and Asia.
The global nuclear medicine market, by application, is segmented into Oncology, Cardiology, Neurology, Thyroid Disorders, Bone Metastases, and Others.
The segment is largely dominated by oncology since there is a worldwide rise in incidence of cancer and government-sponsored programs on early detection and precise treatment. According to estimates made by the World Health Organization (WHO), the number of new cancer cases is expected to rise to almost 20 million new cases in 2022, thus rapidly adopting PET/CT and SPECT/CT in oncology departments, among others, for the usage of nuclear imaging techniques. Some of the radiotracers that are commonly used for tumour detection and monitoring of treatment efficacy include FDG, Ga-68 DOTATATE, and Lu-177-based therapies. In addition to the National Cancer Institute (NCI) in the U.S. and the IAEA PACT Program, the integration of nuclear oncology in the national cancer strategy has tactically and substantively evolved.
Myocardial perfusion imaging occupies almost the second-largest section of the public including cardiology with the prospect of SPECT-based cardiac diagnostics being included in preventive care guidelines now included in the public insurance program such as the CMS (U.S. Centres for Medicare & Medicaid Services). Routine diagnostic radiotracers include Tc-99m sesamoid for detection of coronary artery disease in a non-invasive approach.
Another application area that is significant is Neurology, which has increased application of PET tracers such as F-18 FDG and Amyvid for diagnosing Alzheimer's disease and Parkinsonism. Public funding from agencies such as the NIH and the IMI-Neurone programs in Europe is further increasing the levels of neuro-nuclear imaging research.
The global nuclear medicine market, by modality, is segmented into SPECT (Single Photon Emission Computed Tomography), PET (Positron Emission Tomography), and Planar Scintigraphy.
SPECT has a considerable share in the market due to the affordability, compatibility with many diagnostic procedures, and huge deployment in the public sector. According to the report published by IAEA, at present, more than 26,000 SPECT cameras are installed in healthcare institutions around the world, most of them, in public hospitals or clinics. Public insurance providers typically reimburse SPECT procedures using Tc-99m, especially those involving the heart and bone imaging.
PET is the fastest modality; its resolution is quite good and is become more important in clinical use for oncology and neurology. The NIH, Japan’s MHLW, and India’s Department of Atomic Energy (DAE) keep multiplying investments in PET tracer and scanner builds. Newest clearances enabled Alzheimer's PET imaging agents and cancer-targeted radiopharmaceuticals, which are strongly boosting developed nations.
Planar Scintigraphy is rarely used but still up to date in those regions where the resources are low, and nurtured through the IAEA's outreach programs, especially sub-Saharan Africa as well as Southeast Asia.
The global nuclear medicine market, by end user, is segmented into Hospitals & Specialty Clinics, Diagnostic Imaging Centres, Academic & Research Institutes, and Government & Military Healthcare Facilities.
Hospitals and specialty clinics are the major end users of nuclear medicine procedures, as they will always be having a specialty infrastructure, allow radiopharmaceutical storage, and provide safety protocols for radiation. Nuclear imaging for cancer patients and cardiac patients is done mainly by administering these patients to public hospitals as they report under national health plans for their imaging procedures. For instance, the government's schemes such as auditory in gif, the U.S. VA Nuclear Medicine Services, and the UK NHS PET-CT service, have bolstered the installation of nuclear hostage units within public health systems.
An outpatient PET/SPECT becomes more accessible with coverage from the government's insurance reimbursements; hence, Diagnostic Imaging Centres are emerging fast, especially in urban and Being suburbs. Increasingly, host agencies, such as CMS and neighbouring similar ones in Europe and adjudged as well by Japan, are anúncio seen on PET/CT scans at imaging centres in the community.
Another role is, Assistedhe significant contribution made by Academic & Research Institutes in radiopharmaceutical development and clinical trials that often rely on funds from the NIH, DAE (India), and the European Commission's EURATOM Framework to finance these activities.
Cotemporary government & Military Healthcare Facilities are also emerging as new final users. There is a rising adoption of nuclear nuclear imaging for trauma care, cancer screening, and chronic disease monitoring. Selected examples are from CID's hospital care under the U.S. Department of Veterans Affairs, the Indian Army Medical Corps, and the medical branches of Canada's Department of National Defence.
The application of nuclear medicine in America has benefit from the complex infrastructure for isotope production, wide clinical programs, and the use of hybrid imaging in its infancy. Agencies like the Department of Energy (DOE) and the National Institutes of Health (NIH) play significant roles as enablers in these programs, particularly the Isotope Production and Distribution Program that goes along with the domestic supply of key isotopes like Tc-99m, Lu-177, and I-131. To add, the Centres for Medicare & Medicaid Services (CMS) have extended coverage for PET and SPECT scans under preventive and oncology-specific guidelines. In Canada, Natural Resources Canada (NRCan) and Canadian Nuclear Laboratories (CNL) assist in cyclotron-based isotope production and training for the public sector in nuclear medicine, especially for remote and indigenous populations.
Nuclear medicine access in Germany, France, the UK, and the Netherlands is becoming a reality through the Euratom's SAMIRA initiative, which finances infrastructure, human resources, and regulatory alignment for the entry of radiopharmaceuticals into the market. Through reduced non-clinical data requirements and acceptance of real-world evidence (RWE), the European Medicines Agency (EMA) has accelerated authorization pathways for radiopharmaceuticals. The INSERM (France) and the National PET-CT Imaging Service of NHS England are among a handful of public-private partnerships working towards greater nuclear imaging capacity. Increasing EU sponsorship for theragnostic (combined diagnostic-therapy agents) falls under Horizon Europe, targeting cancer care and personalized diagnostics.
Japan promotes nuclear medicine for the innovation in Health and Labour Sciences Research Grants with respect to PET radiopharmaceuticals targeting neurodegenerative and rare diseases. These institutes are also complemented with national heavyweights like the National Institute of Radiological Sciences (NIRS) along with the Ministry of Health, Labour and Welfare (MHLW) related diagnostic and therapeutic isotope development. In China, heavy investments into cyclotron installations and novel radiotracers, particularly for oncology and neurology, are being rapidly set up by MOST and CAS Ministry of Science and Technology and Chinese Academy of Sciences, respectively. Domestic production and unbroken supply of medical isotopes are also centrally defined by Department of Atomic Energy (DAE), Board of Radiation and Isotope Technology (BRIT), and BARC in India. It is further seen that the Indian Council of Medical Research (ICMR) and Department of Biotechnology (DBT) extensions on clinical research are into nuclear medicine in cancer and endocrinology.
Nuclear medicine infrastructure in Latin America just begins to take shape but is improving steadily via regional cooperation and international support. Brazil's National Nuclear Energy Commission (CNEN) and FINEP have supported various projects for the establishment of PET centres and radioisotope production mainly in the cities of São Paulo and Rio de Janeiro. In Mexico, the production and extraction of its main isotopes, I-131 and Tc-99m, have had their role in the diagnosis of the thyroid and kidney, respectively, aided by Instituto Nacional de Investigations Nucleates (ININ). As regional programs supported by the IAEA are helping several LATAM countries, isotope logistics and radiation safety protocols are also being included as part of the training.
Nuclear medicine seems to be increasingly emerging in the Gulf states, such as the UAE and KSA, accumulating large sums in sovereign wealth funds and modernization programs for health sectors around the world. King Faisal Specialist Hospital and SEHA Abu Dhabi, for instance, have already established state-of-the-art PET/CT and SPECT/CT facilities with IAEA support alongside other investments from U.S.-EU biotech corporations. South Africa continues to be a leading player in isotope production via NECSA's SAFARI-1 reactor supplying Mo-99 and I-131 into both regional and global markets. The SAMRC has initiated nuclear imaging research for post-HIV and oncology care. Several African nations have various infrastructure and training support under IAEA's AFRA initiative.
The report will cover the qualitative and quantitative data on the Global Nuclear Medicine Market. The qualitative data includes the latest trends, key market players, market drivers, emerging opportunities, government initiatives, and regulatory developments impacting the sector. The quantitative data includes market size estimates and forecasts for every region, country, and market segment (by type, application, modality, and end user), from 2025 to 2034. Additionally, we offer customized report modules for clients in specific industry verticals including oncology, cardiology, neurology, and public health infrastructure.
Base Year | 2024 |
Estimated Forecast Year | 2025–34 |
Growth Rate | CAGR of 10.1% from 2025 to 2034 |
Unit | USD Billion |
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By Modality |
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By End User |
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North America accounted for the highest xx% market share in terms of revenue in the Nuclear Medicine market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Nuclear Medicine. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Nuclear Medicine companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global Nuclear Medicine Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
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14 Jun 2022
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