Nuclear Medicine/ Radiopharmaceuticals Market Size and Forecast by 2027

Global Nuclear Medicine/Radiopharmaceuticals Market was valued at USD 6.5 billion in 2019 which is expected to reach USD 12.25 billion by 2027 at a CAGR 9.88%.

Nuclear medicines/radiopharmaceuticals are radioactive compounds which are administered to patients and monitored via special imaging devices. These are used to diagnosis and therapeutic purposes. Nuclear medicines or radiopharmaceutical components are composed of organic molecules with radioisotopes. Radioisotopes emits gamma rays are used for diagnosis.

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Market Drivers

Increase in incidences of chronic diseases like cancer is the key driving factor which is expected to boost the global nuclear medicine/ radiopharmaceuticals market growth. For instance, in 2018, according to World Health Organization (WHO) around 9.6 million people were dead due to cancer across the world. Also, increase in prevalence of cardiovascular diseases will have the positive impact on global nuclear medicine/ radiopharmaceuticals market growth. Furthermore, increase in technological advancements is expected to propel the global nuclear medicine/ radiopharmaceuticals market growth.

Market Restraints

However, short life of radiopharmaceuticals is the restraining factor for market which is expected to hamper the global nuclear/ radiopharmaceuticals market growth. Also, logistical difficulties, supply shortage and lack of qualified professionals will affect the global nuclear medicine/ radiopharmaceuticals market growth.

Market Key Players

Various key players are discussed in this report such as Iba Molecular, Advanced Accelerator Applications S.A., Nordion, Inc, Eczacibasi-Monrol Nuclear Products, Bracco Imaging S.P.A, Bayer AG, Lantheus Medical Imaging, Inc., GE Healthcare, Mallinckrodt PLC, and Cardinal Health, Inc.

Market Taxonomy

By Type

Diagnostic Nuclear Medicine

SPECT Radiopharmaceuticals
Tc-99m
Tl-201
Ga-67
Others

PET Radiopharmaceuticals

F-18
Rubidium-82
Others

By Procedure

Brachytherapy Isotopes
Alpha Emitters
Beta Emitters
Therapeutic Procedures
PET Radiopharmaceuticals
SPECT Radiopharmaceuticals

By Application

Cardiology
Oncology
Neurology
Thyroid
Others

By Region

North America
Latin America
Asia Pacific
Europe
Middle East & Africa

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