Nuclear Medicine Market Global Demand Growth Opportunities and Forecast 2034

The global nuclear medicine market growth in 2026 is witnessing significant expansion as radiopharmaceuticals become increasingly important for disease diagnosis, treatment, and monitoring. According to Fortune Business Insights, the global nuclear medicine market size was valued at USD 11.77 billion in 2025. The market is projected to grow from USD 13.72 billion in 2026 to USD 55.75 billion by 2034, exhibiting a CAGR of 19.15% during the forecast period. North America dominated the nuclear medicine market with a 52.67% market share in 2025.

Nuclear medicine uses radiopharmaceuticals for diagnostic imaging and therapeutic applications. PET and SPECT procedures support disease detection, staging, and treatment monitoring, while therapeutic radiopharmaceuticals are increasingly being used for targeted treatment. The growing use of radiopharmaceuticals in targeted therapy, advancements in theranostics, improvements in isotope production, and increasing adoption of precision medicine are supporting market expansion. The market is also benefiting from increasing investments in isotope production, manufacturing capacity, distribution networks, imaging infrastructure, and radiopharmaceutical development. Industry participants are expanding product portfolios and pursuing strategic partnerships, acquisitions, and commercialization activities to strengthen their presence in the evolving nuclear medicine landscape.

Top Companies In The Market

GE HealthCare

Lantheus Holdings, Inc.

Nordion (Canada) Inc. (Sotera Health)

Bracco

Curium

Bayer AG

Siemens Healthineers AG

Novartis AG

Jubilant Pharmova Limited

Cardinal Health

Norgine

DuchemBio, Co., Ltd.

Market Drivers & Restraints

The expanding use of radiopharmaceuticals in targeted therapy is a major driver of the nuclear medicine market. These therapies can deliver radiation directly to diseased cells while limiting exposure to surrounding healthy tissue, supporting more precise treatment approaches. Increasing clinical adoption of radioligand and targeted alpha therapies is strengthening the role of nuclear medicine, particularly in oncology.

For instance, in March 2025, Novartis announced that the U.S. FDA approved Pluvicto for earlier use before chemotherapy in patients with PSMA-positive metastatic castration-resistant prostate cancer. The development expanded the eligible patient population for radioligand therapy and strengthened the clinical role of targeted radiopharmaceutical treatment.

However, inadequate reimbursement for diagnostic radiopharmaceuticals remains a significant restraint. Nuclear medicine products can be expensive to produce, handle, and distribute, while insufficient reimbursement can place financial pressure on hospitals and imaging providers. These reimbursement gaps can limit adoption of innovative tracers and restrict broader access to advanced diagnostic imaging.

At the same time, artificial intelligence is creating new opportunities for nuclear medicine. AI can support radiopharmaceutical development by analyzing complex imaging, biological, and patient data, improving target identification, clinical trial design, dosimetry, and treatment planning. The integration of AI-enabled technologies across radiopharmaceutical development and clinical workflows is expected to create additional opportunities for market expansion.

Market Competitive Landscape

The global nuclear medicine market reflects a semi-fragmented competitive structure. Novartis AG, Lantheus Holdings, Inc., Sotera Health, Bracco, Curium, Bayer AG, and Siemens Healthineers AG hold significant market positions. Companies are focusing on strategic partnerships, product launches, pipeline development, manufacturing expansion, and investments to strengthen their market presence.

In March 2026, Lantheus Holdings, Inc. received tentative U.S. FDA approval for its Abbreviated New Drug Application for Lutetium Lu 177 Dotatate (PNT2003), a radio equivalent of LUTATHERA. Other companies, including Jubilant Pharmova Limited and Cardinal Health, are expected to prioritize technological advancements, strategic collaborations, and new product launches during the forecast period.

Market Segments

By Type (Diagnostics {PET Radiopharmaceuticals [FDG-PET/18F, 68Ga, 68Cu, 11C, and Others], and SPECT Radiopharmaceuticals [Technetium-99m, Iodine-123, Xenon-133, Thallium-201, and Others]}, and Therapeutics {Ra-223, Sm-153, Lu-177, I-131, Y-90, and Others})

By Application (Neurology, Cardiology, Oncology, and Others)

By End-user (Hospitals & Clinics, Diagnostic Centers, and Others)

Explore the full research report with detailed insights and TOC: https://www.fortunebusinessinsights.com/industry-reports/nuclear-medicine-radiopharmaceuticals-market-101812 

Market Regional Insights

North America dominated the global nuclear medicine market in 2025, reaching USD 6.20 billion and accounting for a 52.67% share. Advanced imaging infrastructure, high adoption of PET and SPECT procedures, and strong investment in radiopharmaceutical manufacturing are supporting regional growth. The U.S. market is projected to reach approximately USD 6.81 billion in 2026.

Europe is projected to reach USD 2.21 billion in 2026 and register a CAGR of 17.59%. The region benefits from an established radiopharmaceutical ecosystem, research activity, and increasing focus on targeted cancer diagnosis and treatment.

Asia Pacific is estimated to reach USD 2.23 billion in 2026. Expansion of healthcare infrastructure and improving access to nuclear science and technology are supporting regional development. Japan is projected to reach approximately USD 0.75 billion, while China is expected to reach approximately USD 0.94 billion in 2026.

Latin America and the Middle East & Africa are expected to experience moderate growth. Latin America is projected to reach USD 0.69 billion in 2026, while the GCC market is expected to reach USD 0.31 billion.

Future Market Scope

The future scope of the nuclear medicine market is closely associated with the continued development of targeted radiopharmaceuticals, theranostics, precision oncology, AI-enabled technologies, and isotope production capabilities. Increasing demand for molecular imaging and targeted therapies is creating opportunities for companies to expand their product portfolios and clinical applications. Continued investment in manufacturing facilities and isotope supply is also expected to support market development. Recent developments, including the expansion of radiopharmaceutical manufacturing infrastructure and advancements in targeted alpha therapy, demonstrate the industry's focus on strengthening supply capabilities and developing new therapeutic applications. As healthcare providers continue to adopt advanced diagnostic and therapeutic approaches, nuclear medicine is expected to remain an important component of precision healthcare. Improvements in imaging systems, radiopharmaceutical development, clinical infrastructure, and specialized workforce capabilities will shape the market's development through 2034.

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