The U.S. nuclear medicine market size was valued at USD 5.85 billion in 2023 and is projected to surpass around USD 19.34 billion by 2033, registering a CAGR of 12.7% over the forecast period of 2024 to 2033.
The increasing incidence of cancer and cardiovascular illnesses in the United States is driving market growth. According to American Cancer Society statistics, the number of new cancer cases in the United States is expected to reach 1,958,310 in 2023, with 609,820 cancer-related fatalities. Technological breakthroughs in nuclear medicine, combined with an increasing demand for reliable diagnostic and treatment procedures, are accelerating expansion even further.
Cardiovascular illnesses are the main cause of death for persons of all ethnicities and races in the United States. According to a CDC study published in May 2023, around 805,000 people in the United States experience heart attacks each year, with 605,000 of these individuals experiencing their first episode. As a result, between 2018 and 2019, the United States government spent around USD 239 billion on the prevention and treatment of heart disease. This includes the cost of pharmaceuticals and health-care services. Alcohol consumption, poor diet, and a lack of exercise are all risk factors for cancer and heart disease. As a result, the rapid rise in the incidence of cancer and cardiovascular diseases is expected to increase demand for nuclear medicine in the United States.
Technological improvements in the global nuclear medicine industry are accelerating its expansion. Radiopharmaceuticals have revolutionized diagnosis and therapy methods in cardiology and oncology. Continuous research and studies demonstrate the efficacy of radioisotopes in a variety of medical domains, driving their use in diagnosing and treating cancer, thyroid-related diseases, respiratory disorders, bone conditions, and digestive tract maladies. The increasing exploration in nuclear medicine encourages the development of novel products tailored to diagnostic and therapeutic goals, ultimately promoting growth in the area. For example, in June 2022, Siemens Healthineers unveiled Symbia Pro.specta, an innovative SPECT and CT imaging system.
Furthermore, this innovative product has acquired U.S. FDA authorization with the CE mark for use in a variety of applications, including patient type, clinical studies, and departments. Furthermore, this product has an intuitive and automated workflow that guides the user through the entire examination decision-making process, automatic SPECT motion correction for increased image clarity, and a low-dose CT of up to 64 parts for enhanced information, giving it a competitive advantage over other radiopharmaceutical products on the market.
The growing demand for accurate diagnosis and treatment procedures drives market expansion. Positron Emission Tomography (PET) uses radioisotopes to diagnose specific organs. Its use as a diagnostic tool is rapidly increasing due to its greater accuracy when compared to other diagnostic procedures. PET's excellent diagnostic accuracy and effectiveness in tracking therapy progress help physicians make better decisions. PET is routinely coupled with X-rays and computed tomography to improve diagnostic accuracy. Positrigo AG announced the debut of its dedicated PET system NeuroLF in the United States in October 2023, following the formation of a company there. Thus, R&D for novel nuclear medicine products, as well as increased demand for these diagnostic techniques, are likely to drive market expansion throughout the forecast period.
| Report Attribute | Details |
| Market Size in 2024 | USD 6.59 Billion |
| Market Size by 2033 | USD 19.34 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 12.7% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Product, application, end-use, country |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Companies Profiled | Eckert & Ziegler; Curium; GE Healthcare; Jubilant Life Sciences Ltd.; Bracco Imaging S.P.A ; Nordion (Canada), Inc.; The Institute For Radioelements (IRE); NTP Radioisotopes SOC Ltd.; Eczacıbaşı-Monrol; Lantheus Medical Imaging; Inc.; The Australian Nuclear Science and Technology Organization; Novartis (Advanced Accelerator Applications); Siemens Healthineers AG. |
The diagnostic products segment dominated the market and accounted for 71.25% of the global revenue in 2023. SPECT is employed for the diagnosis of a wide range of diseases and conditions, including neurological disorders, cardiovascular diseases, and thyroid-related conditions. The accuracy of the SPECT diagnostic technique is better than other non-radiopharmaceutical techniques. SPECT held the largest market share in 2023, owing to the low cost of scans and the ability to use easily obtained radioisotopes with longer life, compared to PET. In addition, the introduction of dedicated gamma cameras, portable SPECT scanners, and the development of the I-123 radiotracer are factors expected to boost the market.
The therapeutic products segment is anticipated to grow at the fastest CAGR over the forecast period. Alpha emitters, beta emitters, and brachytherapy are widely employed in radiopharmaceutical therapeutic procedures. Brachytherapy is commonly used as a treatment option for prostate, gynecological, breast, and other cancers due to its advantages, such as short procedure time. Major players are finding novel ways of using I-131 to treat various other diseases. For instance, in December 2023, Cellectar Biosciences, Inc., a clinical biopharmaceutical company, recently expanded its collaboration with the Wisconsin Alumni Research Foundation (WARF). The collaboration focuses on developing and commercializing iopofosine I 131 for pediatric cancers. This agreement grants Cellectar an exclusive license to work on iopofosine in pediatric solid cancers like high-grade glioma, neuroblastoma, and sarcoma.
Hospitals & clinics dominated the market with the largest share in 2023. The nuclear medicine market in the U.S. is expanding due to the rise in the number of hospitals and clinics. The demand for nuclear medicine products is high owing to rising inpatient visits for diagnosis and treatment of diseases. According to the American Hospital Association, in 2024, around 6,120 hospitals were operating across different U.S. states, with 33.67 million hospital admissions. The availability of skilled staff and the ability to buy high-cost nuclear medicine products owing to the high budget are key factors expected to drive the segment.
The diagnostic centers segment is projected to witness significant growth rate over the forecast period. The diagnostic centers segment is growing due to the rising number of nuclear medicine diagnostic procedures. As per the National Cancer Institute, in 2023, nearly 2 million people were diagnosed with cancer in the U.S. Thus, the rising incidence of chronic diseases is expected to boost the diagnosis rate during the forecast period, driving market growth.
The oncology segment dominated the market with the largest share 25.85% in 2023, due to high cancer prevalence and increased preference for radiopharmaceutical diagnosis. As per the American Cancer Society’s 2022 statistics, it is estimated that there will be approximately 1.9 million new cancer cases diagnosed and 609,360 cancer-related deaths in the U.S. in 2022. This pervasive presence of cancer has a direct influence on the growth of the market. The demand for nuclear medicine technologies is expected to rise as they play a crucial role in diagnosing and treating various cancers.
The endocrine tumor segment is anticipated to grow at the fastest CAGR over the forecast period. Endocrine tumors originate from the gastroenteropancreatic tract and are defined by histological pattern & endocrine metabolism. Endocrine tumors are rare types of tumors that affect 2.5 to 5 people in every 100,000, according to statistics released by the National Cancer Institute U.S. For the detection of endocrine tumors, radiopharmaceuticals and functional imaging tools are preferred over CT, MRI, and ultrasound. The competitive landscape is influenced by the strategic initiatives of key players. For instance, recent collaboration between Jubilant Draximage Inc. (Jubilant Radiopharma) and Evergreen Theragnostics, Inc. in June 2023. Jubilant Radiopharma, with its Radiopharmacy business division holding one of the largest nuclear medicine pharmacy networks in the U.S., agreed with Evergreen Theragnostics.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. Nuclear Medicine market.
By Product
By Application
By End-use
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Product
1.2.2. Application
1.2.3. End-use
1.2.4. Country scope
1.2.5. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Purchased database
1.4.2. nova one advisor’s internal database
1.4.3. Secondary sources
1.4.4. Primary research
1.4.5. Details of primary research
1.4.5.1. Data for primary interviews in U.S.
1.5. Information or Data Analysis
1.5.1. Data analysis Models
1.6. Market Formulation & Validation
1.7. Model Details
1.7.1. Commodity flow analysis (Model 1)
1.7.2. Approach 1: Commodity flow approach
1.7.3. Volume price analysis (Model 2)
1.7.4. Approach 2: Volume price analysis
1.8. List of Secondary Sources
1.9. List of Primary Sources
1.10. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Product
2.2.2. Application
2.2.3. End-use
2.2.4. Country outlook
2.3. Competitive Insights
Chapter 3. U.S. Nuclear Medicine Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Rising incidence of cancer and cardiovascular diseases
3.2.1.2. Technological advancement in nuclear medicine
3.2.1.3. Growing demand for accurate diagnostic & treatment methods
3.2.2. Market restraint analysis
3.2.2.1. Stringent regulations pertaining to production, storage, and usage nuclear medicines
3.2.2.2. High cost associated with diagnostic and therapeutic procedures
3.3. U.S. Nuclear Medicine Market Analysis Tools
3.3.1. Industry Analysis - Porter’s
3.3.1.1. Supplier power
3.3.1.2. Buyer power
3.3.1.3. Substitution threat
3.3.1.4. Threat of new entrant
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Technological landscape
3.3.2.3. Economic landscape
3.3.3. Pricing Analysis
3.3.4. Pipeline Analysis
3.3.5. Procedural Volume Analysis
3.3.5.1. Diagnostic Procedures
3.3.5.1.1. SPECT
3.3.5.1.2. PET
3.3.5.2. Therapeutic Procedure
Chapter 4. U.S. Nuclear Medicine Market: Product Estimates & Trend Analysis
4.1. U.S. Nuclear Medicine Market: Product Dashboard
4.2. U.S. Nuclear Medicine Market: Product Movement Analysis
4.3. U.S. Nuclear Medicine Market by Product, Revenue
4.4. Diagnostic Products
4.4.1. Diagnostic Products market estimates and forecasts 2021 to 2033
4.4.2. SPECT
4.4.2.1. SPECT market estimates and forecasts 2021 to 2033
4.4.2.1.1. TC-99m
4.4.2.1.2. TL-201
4.4.2.1.3. GA-67
4.4.2.1.4. I-123
4.4.2.1.5. Other SPECT Products
4.4.3. PET
4.4.3.1. PET market estimates and forecasts 2021 to 2033
4.4.3.1.1. F-18
4.4.3.1.2. SR-82/RB-82
4.4.3.1.3. Other PET products
4.5. Therapeutic Products
4.5.1. Therapeutic Products market estimates and forecasts 2021 to 2033
4.5.2. Alpha Emitters
4.5.2.1. Alpha Emitters market estimates and forecasts 2021 to 2033
4.5.2.1.1. RA-223
4.5.2.1.2. Others
4.5.3. Beta Emitters
4.5.3.1. Beta Emitters market estimates and forecasts 2021 to 2033
4.5.3.1.1. I-131
4.5.3.1.2. Y-90
4.5.3.1.3. SM-153
4.5.3.1.4. Re-186
4.5.3.1.5. Lu-117
4.5.3.1.6. Other Beta Emitters
4.5.4. Brachytherapy
4.5.4.1. Brachytherapy market estimates and forecasts 2021 to 2033
4.5.4.1.1. Cesium-131
4.5.4.1.2. Iodine-125
4.5.4.1.3. Palladium-103
4.5.4.1.4. Iridium-192
4.5.4.1.5. Other Brachytherapy Products
Chapter 5. U.S. Nuclear Medicine Market: Product Estimates & Trend Analysis
5.1. U.S. Nuclear Medicine Market: Product Dashboard
5.2. U.S. Nuclear Medicine Market: Product Movement Analysis
5.3. U.S. Nuclear Medicine Market by Product (Procedural Volume)
5.4. Diagnostic Procedures
5.4.1. Diagnostic Procedures market estimates and forecasts 2021 to 2033
5.4.2. SPECT
5.4.2.1. SPECT market estimates and forecasts 2021 to 2033
5.4.3. PET
5.4.3.1. PET market estimates and forecasts 2021 to 2033
5.4.4. Therapeutic Applications
5.4.4.1. Therapeutic applications market estimates and forecasts 2021 to 2033
5.5. Neurology
5.5.1. Neurology market estimates and forecasts 2021 to 2033
5.6. Oncology
5.6.1. Oncology market estimates and forecasts 2021 to 2033
5.7. Thyroid
5.7.1. Thyroid market estimates and forecasts 2021 to 2033
5.7.2. SPECT
5.7.2.1. SPECT market estimates and forecasts 2021 to 2033
5.7.3. Therapeutic Applications
5.7.3.1. Therapeutic applications market estimates and forecasts 2021 to 2033
5.8. Neurology
5.8.1. Neurology market estimates and forecasts 2021 to 2033
5.9. Oncology
5.9.1. Oncology market estimates and forecasts 2021 to 2033
5.10. Thyroid
5.10.1. Thyroid market estimates and forecasts 2021 to 2033
5.10.1.1. SPECT
5.10.1.2. SPECT market estimates and forecasts 2021 to 2033
5.10.1.3. Therapeutic Applications
5.10.1.4. Therapeutic applications market estimates and forecasts 2021 to 2033
5.11. Lymphoma
5.11.1. Lymphoma market estimates and forecasts 2021 to 2033
5.12. Bone Metastasis
5.12.1. Bone Metastasis market estimates and forecasts 2021 to 2033
5.12.1.1. SPECT
5.12.1.2. SPECT market estimates and forecasts 2021 to 2033
5.12.1.3. Therapeutic Applications
5.12.1.4. Therapeutic applications market estimates and forecasts 2021 to 2033
5.13. Endocrine Tumor
5.13.1. Endocrine Tumor market estimates and forecasts 2021 to 2033
5.14. Pulmonary Scans
5.14.1. Pulmonary Scans market estimates and forecasts 2021 to 2033
5.15. Others
5.15.1. Others market estimates and forecasts 2021 to 2033
Chapter 6. U.S. Nuclear Medicine Market: End-use Estimates & Trend Analysis
6.1. U.S. Nuclear Medicine Market: End-use Dashboard
6.2. U.S. Nuclear Medicine Market: End-use Movement Analysis
6.3. U.S. Nuclear Medicine Market by End-use, Revenue
6.4. Hospitals & Clinics
6.4.1. Hospitals & Clinics market estimates and forecasts 2021 to 2033
6.5. Diagnostic Centers
6.5.1. Diagnostic Centers market estimates and forecasts 2021 to 2033
6.6. Others
6.6.1. Others market estimates and forecasts 2021 to 2033
6.6.1.1.
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company/Competition Categorization
7.3. Vendor Landscape
7.3.1. List of key distributors and channel partners
7.3.2. Key customers
7.3.3. Key company market share analysis, 2023
7.3.4. Eckert & Ziegler
7.3.4.1. Company overview
7.3.4.2. Financial performance
7.3.4.3. Product benchmarking
7.3.4.4. Strategic initiatives
7.3.5. Curium
7.3.5.1. Company overview
7.3.5.2. Financial performance
7.3.5.3. Product benchmarking
7.3.5.4. Strategic initiatives
7.3.6. GE Healthcare
7.3.6.1. Company overview
7.3.6.2. Financial performance
7.3.6.3. Product benchmarking
7.3.6.4. Strategic initiatives
7.3.7. Jubilant Life Sciences Ltd.
7.3.7.1. Company overview
7.3.7.2. Financial performance
7.3.7.3. Product benchmarking
7.3.7.4. Strategic initiatives
7.3.8. Bracco Imaging S.P.A
7.3.8.1. Company overview
7.3.8.2. Financial performance
7.3.8.3. Product benchmarking
7.3.8.4. Strategic initiatives
7.3.9. Nordion (Canada), Inc.
7.3.9.1. Company overview
7.3.9.2. Financial performance
7.3.9.3. Product benchmarking
7.3.9.4. Strategic initiatives
7.3.10. The Institute For Radioelements (IRE)
7.3.10.1. Company overview
7.3.10.2. Financial performance
7.3.10.3. Product benchmarking
7.3.10.4. Strategic initiatives
7.3.11. NTP Radioisotopes SOC Ltd.
7.3.11.1. Company overview
7.3.11.2. Financial performance
7.3.11.3. Product benchmarking
7.3.11.4. Strategic initiatives
7.3.12. Eczacıbaşı-Monrol
7.3.12.1. Company overview
7.3.12.2. Financial performance
7.3.12.3. Product benchmarking
7.3.12.4. Strategic initiatives
7.3.13. Lantheus Medical Imaging, Inc.
7.3.13.1. Company overview
7.3.13.2. Financial performance
7.3.13.3. Product benchmarking
7.3.13.4. Strategic initiatives
7.3.14. The Australian Nuclear Science and Technology Organization
7.3.14.1. Company overview
7.3.14.2. Financial performance
7.3.14.3. Product benchmarking
7.3.14.4. Strategic initiatives
7.3.15. Novartis (Advanced Accelerator Applications)
7.3.15.1. Company overview
7.3.15.2. Financial performance
7.3.15.3. Product benchmarking
7.3.15.4. Strategic initiatives
7.3.16. Siemens Healthineers AG
7.3.16.1. Company overview
7.3.16.2. Financial performance
7.3.16.3. Product benchmarking
7.3.16.4. Strategic initiatives
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