Radiopharmaceuticals Market Size Worth USD 20.94 Billion by 2034 | CAGR: 10.4%

The radiopharmaceuticals market size is expected to reach USD 20.94 Billion by 2034, according to a new study by Polaris Market Research. The report “Radiopharmaceuticals Market Size, Share, Trends, & Industry Analysis Report By Radioisotope Type (Technetium-99, Fluorine-18), By Application, By Source, By End User, and By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The radiopharmaceuticals market is growing steadily as hospitals and imaging centers increasingly rely on nuclear medicine for both diagnosis and treatment. These specialized compounds are used in scans such as PET and SPECT to detect conditions early and accurately.

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Ongoing research is leading to the development of new radiopharmaceuticals that are more precise and contains fewer side effects. Therefore, healthcare providers are investing in modern imaging systems and expanding nuclear medicine departments. This shift is improving patient outcomes, providing advanced diagnostic and therapeutic services.

Radiopharmaceuticals Market Report Highlights

• Based on radioisotope type, the technetium-99 segment dominated the market in 2024, due to its widespread application in SPECT imaging for conditions related to bone, cardiac, and oncology diagnostics.
• In terms of application, the neurology segment dominated the market in 2024. This is owing the growing adoption of radiopharmaceuticals in cancer diagnosis, staging, and treatment planning.
• In terms of source, the nuclear reactors segment dominated the market in 2024, due to the extensive use of isotopes such as molybdenum-99.
• North America accounted for the majority share in the global Radiopharmaceuticals market in 2024, due to advanced nuclear medicine infrastructure.
• Asia Pacific held substantial market share, owing to rapid growth in healthcare infrastructure across India, China, and South Korea.
• A few global key market players include Advanced Accelerator Applications SA, AstraZeneca plc, Bayer AG, Boehringer Ingelheim International GmbH, Bracco Imaging S.p.A., Cardinal Health, Inc., Curium Pharma, Eckert & Ziegler SE, F. Hoffmann-La Roche Ltd, GE HealthCare Technologies Inc., GlaxoSmithKline plc (GSK plc), Jubilant Radiopharma Limited, Lantheus Holdings, Inc., Eli Lilly and Company, and Mallinckrodt plc.

Polaris Market Research has segmented the market report on the basis of type, application, source, end user, and region:

By Radioisotope Type Outlook (Revenue, USD Billion, 2020–2034)

• Technetium-99
• Fluorine-18
• Iodine-131
• Lutetium-177
• Yttrium-90
• Gallium-68
• Gallium-67
• Rubidium-82
• Iodine-123
• Iodine-125
• Indium-111
• Others

By Application Outlook (Revenue, USD Billion, 2020–2034)

• Oncology
• Cardiology
• Gastroenterology
• Neuroendocrinology
• Neurology
• Nephrology
• Others

By Source Outlook (Revenue, USD Billion, 2020–2034)

• Nuclear Reactors
• Cyclotrons

By End User Outlook (Revenue, USD Billion, 2020–2034)

• Hospitals
• Diagnostic Centers
• Cancer Research Institutes
• Ambulatory Surgical Centers
• Others

By Regional Outlook (Revenue, USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America