Medical Radioisotopes Market Size, Share, Growth, And Industry Analysis By Type (Tc-99m, Cobalt-60, Iodine Radioisotopes) By Application (Nuclear Therapy, Equipment Radioactive Source, Diagnosis, Others), Regional Insights and Forecast From 2025 To 2034

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MEDICAL RADIOISOTOPES MARKET OVERVIEW

The global Medical Radioisotopes Market is poised for significant growth rising to USD 0.772 billion in 2025, and projected to reach USD 1.493 billion by 2034, with a CAGR of 8.12% from 2025 to 2034.

The United States Medical Radioisotopes market size is projected at USD 0.243 billion in 2025, the Europe Medical Radioisotopes market size is projected at USD 0.199 billion in 2025, and the China Medical Radioisotopes market size is projected at USD 0.221 billion in 2025.

Medical radioisotopes are radioactive compounds that are safe to use and are largely employed in the diagnosis of medical disorders. These radioisotopes emit gamma rays with enough energy to leave the body when they are employed in a diagnosis. The fact that the rays can decay right after imaging is finished makes their brief half-life appropriate.

Growing SPECT and PET applications are anticipated to dominate this market sector. At RSNA21, the healthcare industry unveiled its most advanced SPECT/CT nuclear medicine system. Such advancements are predicted to accelerate radioisotope development and support market expansion.

KEY FINDINGS

COVID-19 IMPACT

Pandemic Had a Negative Impact on Healthcare Systems and Market Growth

The COVID-19 pandemic has presented significant challenges to healthcare systems, whether during the preparation, response, or recovery phases of the pandemic. This has mostly been handled by drastically cutting back on in- and outpatient disease treatment services and putting in place infection prevention and control measures. The COVID-19 pandemic has had a significant impact on radiology departments' clinical practices all across the world. Academic medical centers and universities hurried to halt scientific research operations in order to maximize social distance and reduce the spread of illness to research employees and others with whom they might come into contact. This was carried out concurrently with clinical preparedness exercises.

The COVID-19 pandemic has wreaked devastation around the world, disrupting healthcare systems all over the world. Hospitals have therefore increased testing efforts in an effort to preserve lives and stop the virus from spreading. Governments all across the world were forced to enact budget cuts because to the financial difficulties brought on by COVID-19. In addition, the pandemic reduced the number of patients undergoing nuclear medicine operations and caused the cancellation of elective procedures, which put hospitals in a tight financial situation.

LATEST TRENDS

Uses of Radiopharmaceuticals in Neurology to Boost Growth

The main uses of nuclear medicine are to diagnose cancer and cardiovascular disease. Numerous businesses and stakeholders are concentrating on extending the overall uses of radiopharmaceuticals as a result of the saturation of these markets. The demand for and adoption of radiopharmaceuticals are anticipated to rise in the upcoming years as a result of their growing application fields. By meeting the need for radiopharmaceuticals in neurological applications, businesses may be able to diversify their product portfolios and increase their market shares.

• According to the World Nuclear Association, around 90% of all nuclear medicine procedures globally use Technetium-99m (Tc-99m), showcasing a strong reliance on this isotope for imaging applications.

• As per the International Atomic Energy Agency (IAEA), the number of countries utilizing radioisotopes for diagnostic procedures increased from 76 to 102 nations between 2017 and 2022, indicating expanding global accessibility.

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MEDICAL RADIOISOTOPES MARKET SEGMENTATION

By Type

According to type, the market can be segmented into Tc-99m, Cobalt-60, Iodine Radioisotopes. The dominant section is predicted to be tc-99m.

By Application

Based on application, the market can be divided into Nuclear Therapy, Equipment Radioactive Source, Diagnosis, Others. The segment that will predominate is nuclear therapy.

DRIVING FACTORS

Increasing CVD Occurrence to Augment Growth

The global economy is beginning to recover from the COVID-19-caused slowdown, but it will continue to lag behind pre-pandemic rates for a while. The epidemic has exacerbated the risks associated with the decade-long increase in global debt. The epidemic has exacerbated the risks associated with the decade-long increase in global debt. Furthermore, it's expected to exacerbate the anticipated decline in potential growth over the next ten years.  

Growing Application Against CVDs to Promote Expansion

17.9 million individuals worldwide died from CVD in 2019, accounting for 32% of all mortality, according to the WHO. This figure is projected to rise to 23.3 million by 2030. Because nuclear medicine is crucial for disease detection and treatment, it is projected that the rising prevalence of various ailments will fuel the rise of the nuclear medicine market over the forecast period.

• According to the World Health Organization (WHO), 23.3 million people are projected to die from cardiovascular diseases (CVDs) by 2030, up from 17.9 million in 2019, necessitating more nuclear diagnostics.

• As per the U.S. Centers for Disease Control and Prevention (CDC), over 40 million diagnostic nuclear medicine procedures are conducted annually, emphasizing strong procedural demand in cancer and heart disease diagnostics.

RESTRAINING FACTORS

Short Radiopharmaceutical Half Lives to Hamper Demand

The radiopharmaceutical's shelf life is mostly influenced by the radioisotope's half-life and the radionuclide's composition. For instance, if not used within 110 minutes, the radioactivity of F-18 used in PET scans declines, whereas C-11's radioactivity does so after 20 minutes. Tc-99radioactivity m's decreases after six hours in SPECT diagnosis, whereas I-123 and In-111 isotopes should be used within 13 and 67 hours, respectively. Radiochemical purity is reduced to an unsatisfactory level when radioisotopes are not used within the recommended shelf life due to radiation and chemical decomposition. This can be lethal during diagnosis and treatment.

• According to the IAEA, the half-life of F-18 is 110 minutes, while Tc-99m’s is 6 hours, requiring real-time usage or nearby cyclotron access, limiting market reach in underdeveloped regions.

• Based on data from the U.S. Nuclear Regulatory Commission, more than 22% of small hospitals lack the storage or shielding infrastructure needed to safely manage short-lived radioisotopes.

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MEDICAL RADIOISOTOPES MARKET REGIONAL INSIGHTS

North America Will Continue To Lead The Market Share

In 2020, North America is anticipated to hold the biggest market share for nuclear medicine. This significant market share may be ascribed to the region's innovative radioisotope production methods, government financing, rising R&D spending, and corporate activities. The region's sizeable market share can be attributed to the high volume of nuclear medicine treatments, the reliable healthcare infrastructure, and the rising investment in R&D activities. For instance, in January 2021, Eckert & Ziegler announced their intentions to construct a cGMP facility in Boston, United States, for the contract manufacturing of radiopharmaceuticals. The plant will be focused on producing late-investigational-stage and commercial-stage radioisotopes used in nuclear medicines, helping to address the market's increasing demand for radionuclides.

KEY INDUSTRY PLAYERS

Key Players Focus on Partnerships to Gain a Competitive Advantage

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

• NRG (Netherlands): NRG supplies over 30% of the global molybdenum-99 (Mo-99) needed for Tc-99m production, serving more than 40 countries worldwide through its HFR reactor.

• IRE (Belgium): IRE is Europe’s top Mo-99 producer, delivering isotopes to over 300 hospitals and nuclear pharmacies across Europe and North Africa.

List of Top Medical Radioisotopes Companies

• NRG
• IRE
• ANSTO
• NTP Radioisotopes
• China National Nuclear Corporation
• Rosatom
• Nordion
• Eckert & Ziegler Strahlen
• Polatom

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.