Nuclear Medicine Market Size, Share & Industry Analysis, 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), and Regional Forecast, 2026-2034

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 market share of 52.67% in 2025.

The market is witnessing steady growth driven by the increasing use of radiopharmaceuticals for both diagnosis and targeted therapy. As cancer, cardiac disorders, and neurological diseases continue to increase, healthcare providers are adopting nuclear medicine because it helps detect disease earlier and supports more precise treatment decisions. At the same time, progress in theranostics, radioisotope supply, and imaging infrastructure is expanding the clinical use of nuclear medicine across hospitals and specialty centers. In addition, the growing shift toward precision medicine is increasing demand for highly targeted imaging and treatment approaches, where nuclear medicine plays an important role. Expanding investment by industry participants in isotope production, manufacturing capacity, and commercial distribution is also improving product availability and supporting wider clinical adoption.

Key companies are increasingly focusing on expanding their product offerings and commercializing them.

• For instance, in January 2026, SHINE announced that it had completed its acquisition of Lantheus’ SPECT business, including the North Billerica manufacturing facility and a portfolio of diagnostic radiopharmaceuticals. The deal brings immediate revenue and operational scale and strengthens its position. Such strategic expansion is expected to support market growth by improving access to isotope supply, strengthening distribution capabilities, and broadening the commercial reach of nuclear medicine products.

Furthermore, leading players such as Novartis, Lantheus Holdings, Inc., Sotera Health, and Bracco, are focusing on research and development and strategic partnerships to expand their offerings and strengthen their market positions.

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NUCLEAR MEDICINE MARKET TRENDS

Rising Adoption of Theranostics in Precision Oncology is a Prominent Market Trend Observed

The growing adoption of theranostics is a major trend in the global nuclear medicine market, as it combines diagnostic imaging and targeted therapy within a single clinical pathway. This approach helps physicians identify the right patients, monitor treatment effectiveness, and deliver more personalized cancer care, thereby improving clinical decision-making. As oncology care shifts toward precision medicine, healthcare providers are increasingly adopting theranostic solutions to support more accurate tumor targeting and more efficient treatment planning. In addition, continuous innovation in radiopharmaceuticals, imaging systems, and AI-enabled workflow tools is making theranostics more practical for routine clinical use. Because of this, the expansion of theranostics in precision oncology is becoming an important trend shaping global nuclear medicine market demand.

• For instance, in June 2025, GE HealthCare announced new theranostics-focused technological advances, highlighting the integration of advanced diagnostic imaging, radiopharmaceuticals, and AI-powered software to support precision oncology care. These developments are helping accelerate the adoption of theranostics in clinical practice.

MARKET DYNAMICS

MARKET DRIVERS

Expanding Use of Radiopharmaceuticals in Targeted Therapy to Support Market Expansion and Drive Growth

The expanding use of radiopharmaceuticals in targeted therapy is a major driver of the global nuclear medicine market, as these therapies can deliver radiation directly to diseased cells while limiting damage to surrounding healthy tissue. This improves treatment precision and makes nuclear medicine increasingly valuable in cancer care, especially for patients who need more personalized and targeted treatment options. As clinical success in radioligand and targeted alpha therapies continues to improve confidence among physicians and healthcare systems, adoption is increasing across oncology settings. At the same time, companies are investing more in pipeline development, manufacturing capacity, and commercialization infrastructure, which is helping bring targeted radiopharmaceutical therapies into broader clinical use.

• 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. This approval is important as it expands the eligible patient population for radioligand therapy and strengthens the clinical role of targeted radiopharmaceutical treatment in oncology.

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MARKET RESTRAINTS

Lack of Reimbursement for Diagnostic Radiopharmaceuticals Restricts Market Growth

Lack of adequate reimbursement for diagnostic radiopharmaceuticals is a key restraint on the nuclear medicine market. The high cost of nuclear medicine hampers growth as products are expensive to produce, handle, and deliver. However, payment has not always reflected their actual cost. When reimbursement remains inadequate, hospitals and imaging providers become more cautious about adopting newer diagnostic agents, as the financial burden can reduce procedure margins and make routine use less sustainable. This directly limits patient access to advanced scans, slows the use of innovative tracers, and discourages broader investment in diagnostic nuclear medicine services. It also creates uncertainty for manufacturers and providers, especially when pass-through payment periods expire, and long-term payment visibility remains weak. Because of this, reimbursement gaps continue to restrain wider expansion of the diagnostic radiopharmaceutical segment.

• For instance, in November 2024, Blue Earth Diagnostics said CMS’s proposed rule was important because it would address a “significant reimbursement gap” that had previously hampered the adoption of innovative radiopharmaceutical products and patient access. This directly highlights the restraint, as the company itself linked earlier reimbursement limitations with weaker adoption and reduced access to advanced diagnostic imaging.

MARKET OPPORTUNITIES

Increasing Usage of Artificial Intelligence for Diagnostic and Therapeutic Radiopharmaceutical Development, Creates a Strong Growth Opportunity

The increasing use of artificial intelligence in the development of diagnostic and therapeutic radiopharmaceuticals is creating a significant growth opportunity, as AI can improve how radiopharmaceuticals are discovered, developed, and used in clinical practice. AI helps analyze complex imaging, biological, and patient data faster, supporting better target identification, more efficient trial design, improved dosimetry, and more personalized treatment planning. As companies work to develop more advanced theranostic products, AI is becoming valuable as it can reduce development timelines, improve decision-making, and support more precise matching of diagnostics with therapy. At the same time, AI-enabled workflow tools are helping providers manage radiopharmaceutical procedures more efficiently, which strengthens the commercial potential of both diagnostic and therapeutic nuclear medicine. Due to this, the growing integration of AI across radiopharmaceutical development and clinical delivery is opening new opportunities for innovation, adoption, and long-term market expansion.

• For instance, in August 2025, the Society of Nuclear Medicine and Molecular Imaging (SNMMI) launched the Global Radiopharmaceutical Trial Finder, an AI-powered platform designed to help researchers, clinicians, and patients instantly discover radiopharmaceutical clinical trials that meet their specific needs.

MARKET CHALLENGES

Shortage of Skilled Nuclear Medicine Professionals Creating a Major Market Challenge for Growth

The shortage of trained nuclear medicine professionals is a major challenge for the global market as these services require highly specialized staff to handle radiopharmaceutical preparation, imaging procedures, radiation safety, and therapy administration. When hospitals and diagnostic centers lack sufficient qualified technologists, physicians, and support staff, it becomes harder to expand nuclear medicine capacity even as patient demand rises. This leads to longer wait times, limits the number of nuclear medicine procedures that can be performed, and slows the adoption of advanced applications such as theranostics and radiopharmaceutical therapy. In addition, as nuclear medicine workflows become more complex, the need for specialized training continues to grow, making workforce gaps an even greater barrier to market growth.

• For instance, in August 2025, Catalyst MedTech launched a nationwide Nuclear Medicine Technologist Program to address the industry-wide staffing shortage. The program aimed to help build the future talent pipeline.

Segmentation Analysis

By Type

Higher Utilization of Diagnostics Technique to Lead the Segmental Growth

Based on type, the market is categorized into diagnostics and therapeutics.

The diagnostics segment dominated the largest nuclear medicine market share. Nuclear medicine has been used widely in routine clinical practice for disease detection, staging, and treatment monitoring across multiple conditions. Diagnostic procedures such as PET and SPECT are used in far larger patient volumes than therapeutic procedures, supporting early and accurate decision-making. These scans help physicians identify disease activity before structural changes become clearly visible; healthcare providers continue to rely on them for faster and more precise clinical assessment. As a result, diagnostic applications have continued to account for the largest share of, prompting key companies to periodically innovate their offerings.

• For instance, in April 2025, Curium acquired Nucleis to enhance its PET manufacturing capacity and radiopharmaceutical distribution network across 32 PET sites in Western Europe. The development improved the reliability and accessibility of PET diagnostics and supported the development of tracers.

The therapeutics segment is expected to grow at a CAGR of 25.74% over the forecast period.

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By Application

Oncology’s Dominance is led by Nuclear Medicine’s Wide Usage in Cancer Care

Based on application, the market is segmented into neurology, cardiology, oncology, and others.

In 2025, the oncology segment accounted for the largest nuclear medicine market share as cancer care represents the largest and most established use case for radiopharmaceutical imaging and targeted radionuclide therapy. Nuclear medicine is widely used in oncology for tumor detection, staging, patient selection, therapy planning, and monitoring treatment response, making it highly valuable across the cancer care pathway. As the global cancer burden continues to rise, healthcare providers are increasing the use of molecular imaging and radioligand approaches because they help improve precision and allow more targeted management of complex tumors. Additionally, strong investment in oncology-focused radiopharmaceutical pipelines and isotope supply is accelerating innovation in this area.

• For instance, in April 2025, ITM and Alpha-9 Oncology announced a supply agreement for Actinium-225 to support Alpha-9’s radiopharmaceutical programs for cancer treatment. ITM noted that it is advancing technologies to secure and expand industrial-scale Actinium-225 supply to meet growing global demand, while Alpha-9 highlighted the importance of these radioisotopes for its oncology pipeline.

The neurology segment is projected to grow at a CAGR of 18.70% during the forecast period.

By End User

Availability of Dedicated Infrastructure and Large Patient Volumes Boost Demand for Hospitals & Clinics

Based on end user, the market is segmented into hospitals & clinics, diagnostic centers, and others.

The hospitals & clinics are estimated to dominate the market as they are the primary settings where advanced imaging systems, radiopharmaceutical administration, and multidisciplinary specialist care are brought together. Nuclear medicine procedures often require dedicated infrastructure, trained personnel, radiation safety systems, and coordination with other teams. Due to these factors, large hospitals and specialty clinics are better positioned to provide optimum healthcare services. Additionally, hospitals continue to invest in newer digital and AI-enabled imaging platforms to improve diagnostic accuracy, workflow efficiency, and patient comfort.

• For instance, in October 2026, Sheba Medical Center inaugurated the Roman Abramovich Theranostics and Nuclear Medicine Center. This center will serve more than 16,000 patients annually, reinforcing Sheba's global leadership in nuclear medicine.

The others segment is projected to grow at a CAGR of 18.93% over the study period.

Nuclear Medicine Market Regional Outlook

By geography, the market is categorized into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.

North America

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North America held the dominant share in 2024 at USD 5.30 billion and maintained its leading position in 2025 at USD 6.20 billion. The market is growing strongly as the region has advanced imaging infrastructure, high adoption of PET and SPECT procedures, and strong investment in radiopharmaceutical manufacturing.

U.S. Nuclear Medicine Market

Given North America's substantial contribution and the U.S. dominance in the region, the U.S. market is estimated at around USD 6.81 billion in 2026, accounting for roughly 49.64% of the global market.

Europe

Europe is projected to grow at a CAGR of 17.59% over the coming years, the second-highest among all regions, and reach a valuation of USD 2.21 billion by 2026. The market in Europe is growing due to a well-established radiopharmaceutical ecosystem, strong research activity, and a rising focus on targeted cancer diagnosis and treatment.

U.K. Nuclear Medicine Market

The U.K. is estimated at around USD 0.42 billion in 2026, representing roughly 3.08% of the global market.

Germany Nuclear Medicine Market

Germany's market is projected to reach approximately USD 0.57 billion in 2026, equivalent to around 4.15% of the global market.

Asia Pacific

Asia Pacific is estimated to reach USD 2.23 billion in 2026 and secure the third position in the market. The market is growing as the region expands healthcare infrastructure, improves access to the nuclear science, and technology organization.

Japan Nuclear Medicine Market

In 2026, Japan is projected to reach around USD 0.75 billion, accounting for approximately 5.47% of the global market.

China Nuclear Medicine Market

China's market is projected to be one of the largest worldwide, with 2026 revenues estimated at around USD 0.94 billion, representing approximately 6.85% of global sales.

India Nuclear Medicine Market

The Indian market in 2026 is estimated at around USD 0.28 billion, accounting for roughly 2.04% of revenue share in the global market.

Latin America and the Middle East & Africa

The Latin America and Middle East & Africa are expected to witness moderate growth in this market during the forecast period. Latin America is set to reach USD 0.69 billion in 2026. The market in Latin America is growing as access to advanced molecular imaging improves and regulatory approvals bring newer radiopharmaceutical products into the region. At the same time, Brazil continues to strengthen cancer surveillance and access to specialist treatment. In the Middle East & Africa, the GCC is set to reach USD 0.31 billion in 2026.

South Africa Nuclear Medicine Market

The South African market is projected to reach approximately USD 0.06 billion in 2026, accounting for roughly 0.46% of global revenue.

COMPETITIVE LANDSCAPE

Key Industry Players

Emphasis on New Product Launches by Key Players to Fuel Market Growth

The global market reflects a semi-fragmented competitive structure, with Novartis AG, Lantheus Holdings, Inc., Sotera Health, Bracco, Curium, Bayer AG, and Siemens Healthineers AG holding significant market share. Strategic partnerships, new product launches, pipeline development, and increased investments in the sector drive these companies' market share gains.

• For instance, in March 2026, Lantheus Holdings, Inc. received tentative U.S. FDA approval for the Abbreviated New Drug Application (ANDA) for Lutetium Lu 177 Dotatate (PNT2003), a radio equivalent of LUTATHERA. LUTATHERA is indicated for the treatment of somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors (GEP-NETs), including foregut, midgut, and hindgut neuroendocrine tumors.

Other notable players include Jubilant Pharmova Limited and Cardinal Health. They are expected to prioritize technological advancements, strategic collaborations, and new product launches to strengthen their positions during the forecast period.

LIST OF KEY NUCLEAR MEDICINE COMPANIES PROFILED

• GE HealthCare (U.S.)
• Lantheus Holdings, Inc. (U.S.)
• Nordion (Canada) Inc. (Sotera Health) (Canada)
• Bracco (Italy)
• Curium (France)
• Bayer AG (Germany)
• Siemens Healthineers AG (Germany)
• Novartis AG (Switzerland)
• Jubilant Pharmova Limited (India)
• Cardinal Health (U.S.)
• Norgine (U.K.)
• DuchemBio, Co., Ltd. (South Korea)

KEY INDUSTRY DEVELOPMENTS

• March 2026: Perspective Therapeutics announced that its VMT-α-NET data were accepted for presentation at AACR 2026, reinforcing momentum behind targeted alpha therapy in neuroendocrine tumors.
• March 2026: ITM presented the additional Phase 3 COMPETE subgroup analyses for ITM-11 (177Lu-edotreotide) at the ENETS 2026, adding more support to one of the most advanced late-stage radiopharma programs.
• February 2026: Curium released the first dosimetry and pharmacokinetic data from a sub-study of the pivotal Phase 3 ECLIPSE trial for 177Lu-zadavotide guraxetan in mCRPC, a positive sign for its late-stage therapeutic program.
• February 2026: Actinium Pharmaceuticals announced two AACR 2026 abstracts covering ATNM-400 and Actimab-A, highlighting continued progress in targeted radiotherapy across solid tumors and hematologic malignancies.
• January 2026: Novartis announced a fourth U.S. RLT manufacturing facility in Winter Park, Florida, further strengthening supply infrastructure.
• December 2025: Clarity Pharmaceuticals announced that the U.S. FDA provided positive guidance for a pivotal Phase 3 trial of 64Cu-SARTATE in neuroendocrine tumors, supporting advancement of its copper-based radiopharma platform.

REPORT COVERAGE

The report provides a detailed global market analysis of the industry across key segments, including type, application, and end user. It covers market size estimation, growth forecast, and an assessment of major factors driving, restraining, challenging, and creating opportunities for market expansion. The report also examines the growing role of radiopharmaceuticals in diagnosis and therapy, along with emerging trends such as theranostics, AI integration, and advancements in isotope production and imaging systems. In addition, the report offers a regional analysis across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, highlighting growth patterns and key country-level developments. It also includes a competitive landscape analysis of major companies, covering their strategic developments, product offerings, partnerships, acquisitions, and expansion activities. Further, the study evaluates recent regulatory approvals, reimbursement trends, infrastructure developments, and innovation across diagnostic and therapeutic nuclear medicine to provide a complete view of the market.

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