Therapeutic Nuclear Medicine Market, By Type, By Application, By End User, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
Therapeutic Nuclear Medicine Market size was valued at USD 1,232 Million in 2023, expanding at a CAGR of 4.5% from 2024 to 2032.
The special properties of radioactive elements (radioisotopes) are utilized in therapeutic nuclear medicine (radionuclide treatment) to irradiate cells and/or organs. A radiopharmaceutical is usually injected or consumed in modest amounts to enter the body. Certain organs or tissues are drawn to the radiopharmaceutical. The radioisotopes release radiation, or tiny amounts of energy, from their positions within the body, which acts on target cells and/or organs. This radiation can be used as a palliative measure (e.g., for bone pain), a curative measure (e.g., thyroid cancer), or to decrease the function of an organ (e.g., overactive thyroid).
Therapeutic Nuclear Medicine Market- Market Dynamics
Increasing prevalence of chronic disease to propel market demand
There is a significant global increase in the prevalence of chronic diseases, including cancer, respiratory, neurological, and metabolic problems, as well as cardiovascular disease. According to the Lymphoma Research Foundation, lymphoma is the most frequent cancer among adults and children in the United States, accounting for over a million diagnoses annually. The Global Burden of Diseases reports that heart disease is one of the leading causes of death, accounting for approximately 18 million deaths in 2018. Additionally, approximately 35 million people suffer from heart-related conditions, which is driving up demand for therapeutic nuclear medicines.
Therapeutic Nuclear Medicine Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.5% over the forecast period (2024-2032)
Based on type segmentation, the Beta Emitters segment is expected to dominate the market over the forecast period
Based on the application segmentation, the Oncology segment is expected to lead the market growth during the forecast period
Based on end user segmentation, the Hospitals segment is expected to hold the largest market share over the projected period
Based on region, North America was the leading revenue generator in 2023
Therapeutic Nuclear Medicine Market- Segmentation Analysis:
The Global Therapeutic Nuclear Medicine Market is segmented based on Type, Application, End User, and Region.
Based on the type, the market is categorized into Alpha Emitters, Beta Emitters and Brachytherapy Isotopes. The Beta Emitters segment is expected to dominate the market over the forecast period due to long distance travel, low energy levels, and less harm to nearby cells.
Based on the application, the market is divided into Cardiology, Bone Scans, Pulmonary Scans, Oncology, Neurology, Thyroid Indications, Bone Metastasis and Others. The Oncology segment is expected to lead the market growth during the forecast period due to the rise in the prevalence of cancer across the globe.
Based on the end user, the industry is divided into Hospitals, Ambulatory Surgical Centres and Cancer Research Institutes. The Hospitals segment is expected to hold the largest market share over the projected period. The segment growth is attributable to increase in the prevalence of cancer and increase in the number of hospitals.
Therapeutic Nuclear Medicine Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to hold the majority of market share during the forecast period. The regional market expansion is attributed to the growing prevalence of chronic disease such as cancer, cardiovascular and others. For instance, in 2022, there will be an anticipated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States, according to the American Cancer Society's estimates. Thus, the aforementioned stats drive the market growth.
Therapeutic Nuclear Medicine Market- Competitive Landscape:
The key players in the market are Novartis AG, Bracco Imaging S.p.A, Bayer AG, Cardinal Health Inc., Mallinckrodt plc., Lantheus Medical Imaging Inc., GE Healthcare, Eckert & Ziegler, Curium Pharma, International Isotopes Idaho, Inc. and Medi-Radiopharma Co., Ltd. These players adopted various strategies such as product launch, expansion, investment, collaboration, and others to obtain the maximum market share of the market.
Recent Developments:
In March 2022, Prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC), which has spread to other parts of the body (metastatic), is a type of advanced cancer that Novartis announced the US Food and Drug Administration (FDA) had approved for treatment. PluvictoTM (lutetium Lu 177 vipivotide tetraxetan) was previously known as 177Lu-PSMA-617. Other anticancer treatments (inhibition of the androgen receptor pathway and taxane-based chemotherapy) have already been administered to these individuals.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL THERAPEUTIC NUCLEAR MEDICINE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Novartis AG
Bracco Imaging S.p.A
Bayer AG
Cardinal Health Inc.
Mallinckrodt plc.
Lantheus Medical Imaging Inc.
GE Healthcare
Eckert & Ziegler
Curium Pharma
International Isotopes Idaho, Inc.
Medi-Radiopharma Co., Ltd.
GLOBAL THERAPEUTIC NUCLEAR MEDICINE MARKET, BY TYPE- MARKET ANALYSIS, 2019 - 2032
Alpha Emitters
Beta Emitters
Brachytherapy Isotopes
GLOBAL THERAPEUTIC NUCLEAR MEDICINE MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
Cardiology
Bone Scans
Pulmonary Scans
Oncology
Neurology
Thyroid Indications
Bone Metastasis
Others
GLOBAL THERAPEUTIC NUCLEAR MEDICINE MARKET, BY END USER- MARKET ANALYSIS, 2019 - 2032
Hospitals
Ambulatory Surgical Centres
Cancer Research Institutes
GLOBAL THERAPEUTIC NUCLEAR MEDICINE MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1.Therapeutic Nuclear Medicine Market Overview
1.1.Study Scope
1.2.Market Estimation Years
2.Executive Summary
2.1.Market Snippet
2.1.1.Therapeutic Nuclear Medicine Market Snippet by Type
2.1.2.Therapeutic Nuclear Medicine Market Snippet by Application
2.1.3.Therapeutic Nuclear Medicine Market Snippet by End User
2.1.4.Therapeutic Nuclear Medicine Market Snippet by Country
2.1.5.Therapeutic Nuclear Medicine Market Snippet by Region
2.2.Competitive Insights
3.Therapeutic Nuclear Medicine Key Market Trends
3.1.Therapeutic Nuclear Medicine Market Drivers
3.1.1.Impact Analysis of Market Drivers
3.2.Therapeutic Nuclear Medicine Market Restraints
3.2.1.Impact Analysis of Market Restraints
3.3.Therapeutic Nuclear Medicine Market Opportunities
3.4.Therapeutic Nuclear Medicine Market Future Trends
4.Therapeutic Nuclear Medicine Industry Study
4.1.PEST Analysis
4.2.Porter's Five Forces Analysis
4.3.Growth Prospect Mapping
4.4.Regulatory Framework Analysis
5.Therapeutic Nuclear Medicine Market: COVID-19 Impact Analysis
5.1.Pre-COVID-19 Impact Analysis
5.2.Post-COVID-19 Impact Analysis
5.2.1.Top Performing Segments
5.2.2.Marginal Growth Segments
5.2.3.Top Looser Segments
5.2.4.Marginal Loss Segments
6.Therapeutic Nuclear Medicine Market Landscape
6.1.Therapeutic Nuclear Medicine Market Share Analysis, 2023
6.2.Breakdown Data, by Key Manufacturer
6.2.1.Established Players' Analysis
6.2.2.Emerging Players' Analysis
7.Therapeutic Nuclear Medicine Market - By Type
7.1.Overview
7.1.1.Segment Share Analysis, By Type, 2023 & 2032 (%)
7.1.2.Alpha Emitters
7.1.3.Beta Emitters
7.1.4.Brachytherapy Isotopes
8.Therapeutic Nuclear Medicine Market - By Application
8.1.Overview
8.1.1.Segment Share Analysis, By Application, 2023 & 2032 (%)
8.1.2.Cardiology
8.1.3.Bone Scans
8.1.4.Pulmonary Scans
8.1.5.Oncology
8.1.6.Neurology
8.1.7.Thyroid Indications
8.1.8.Bone Metastasis
8.1.9.Others
9.Therapeutic Nuclear Medicine Market - By End User
9.1.Overview
9.1.1.Segment Share Analysis, By End User, 2023 & 2032 (%)
9.1.2.Hospitals
9.1.3.Ambulatory Surgical Centres
9.1.4.Cancer Research Institutes
10.Therapeutic Nuclear Medicine Market- By Geography
10.1.Introduction
10.1.1.Segment Share Analysis, By Geography, 2023 & 2032 (%)
10.2.North America
10.2.1.Overview
10.2.2.Therapeutic Nuclear Medicine Key Manufacturers in North America
10.2.3.North America Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
10.2.4.North America Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
10.2.5.North America Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
10.2.6.North America Market Size and Forecast, By End User, 2019 - 2032 (US$ Million)