The global nuclear medicine market is projected to reach USD 9.4 billion by 2028 from USD 5.5 billion in 2023, at a CAGR of 11.3% from 2023 to 2028. Factors such as development of alpha-radioimmunotherapy-based targeted cancer treatments and increasing initiatives to lower the demand-supply gap of Mo-99 are propelling the market growth However, hospital cost cuts and excessive equipment prices are expected to restrain market growth.
Prominent players operational in the nuclear medicine market include GE HealthCare (US),Cardinal Health (US), Curium (France),Bayer AG (Germany), Lantheus Holdings, Inc.(US), Bracco Imaging S.p.A. (Italy), PharmaLogic Holdings Corp. (US), Eczacibasi-Monrol Nuclear Products (Turkey), NTP Radioisotopes SOC Ltd (South Africa), Nordion Inc.(Canada), Advanced Accelerator Applications (France), NorthStar Medical Radioisotopes (US), Eckert & Ziegler (Germany), Isotope JSC (Russia), Siemens Healthineers (Germany), Jubilant DraxImage,Inc. (Canada).
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TOP NUCLEAR MEDICINE MARKET MAJOR PLAYERS
GE HealthCare (US) held the first position in the nuclear medicine market in 2022. GE Healthcare has a large network of radiopharmacies and a strong customer base in approximately 160+ countries across the Americas, Europe, the Pacific Basin, and the Middle East & Africa. Some of the major subsidiaries of the company are GE Healthcare USA Holdings, GE Healthcare (Japan), GE Healthcare Biosciences AB (US), and GE Healthcare AS (Norway). The company has a network of 30 nuclear pharmacies. All GE Healthcare’s nuclear pharmacies have an Aseptic Control Program and routinely meet all industry standards for safety, cleanliness, and quality, including those set by the US Pharmacopeia standards. The company has an extensive range of manufacturers and service providers globally. The company’s robust portfolio for the nuclear medicine market, many subsidiaries, and focus on customers have contributed to its leading position in the nuclear medicine market.
Cardinal Health (US) held the second-leading position in the global nuclear medicine market IN 2022. The Nuclear and Precision Health Solutions division of the company also contract manufactures a radiopharmaceutical treatment (Xofigo) and holds the North American rights to manufacture and distribute Lymphoseek, a radiopharmaceutical diagnostic imaging agent. Cardinal Health is the only distributor for the alpha emitter, Xofigo, which was developed to treat prostate cancer. Cardinal Health operates in the US, Canada, the British Virgin Islands, Malaysia, Singapore, the UK, Luxembourg, Thailand, Switzerland, Ireland, and Belgium through its 150 subsidiaries. The company has the world’s largest network of nuclear pharmacies and focuses on expanding its PET agent manufacturing capabilities to support new drug development activities. In the US, the company’s Pharmaceutical segment operates one national logistics center, a number of primary pharmaceutical and specialty distribution facilities, and nuclear pharmacy and radiopharmaceutical manufacturing facilities.
Curium (France) held the third position in the global nuclear medicine market IN 2022. The company develops, manufactures, and distributes radiopharmaceutical products to help patients across the globe. Curium offers a wide range of SPECT, PET, and therapeutic radiopharmaceutical solutions, such as Gallium (Ga67) Citrate, Sodium Iodide I-123 Injection, Sodium Iodide I-131 Therapeutic Capsules, and Yttrium 90Y. The company offers radiopharmaceutical products to 6,000 customers in 60+ countries globally. The company has a strong geographic presence in North America, Europe, the Middle East & Africa, and Latin America.
Nuclear Medicine/Radiopharmaceuticals Market by Type (Diagnostic (SPECT-Technetium, PET-F-18),Therapeutic (Beta Emitters-Y-90, Alpha Emitters, Brachytherapy), Application (Neurology,Thyroid, Oncology),Procedures, End User - Global Forecast to 2028
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