Nuclear Pharmacy Market Size Share and Future Opportunities in Oncology and Cardiology Applications

(IT-NEWSWIRE.COM, March 01, 2025 ) The Nuclear Pharmacy Market Size is valued at USD 5.7 Bn in 2023 and is predicted to reach USD 12.8 Bn by the year 2031 at a 10.91 % CAGR during the forecast period for 2024-2031.

Global Nuclear Pharmacy Market 2025-2034 full Research Repot latest version is now available.

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Latest Drivers Restraint and Opportunities Market Snapshot:

Key factors influencing the global Nuclear Pharmacy market are:
• Increasing incidence and prevalence of target conditions
• Increasing Applications in Oncology and Cardiology
• Rising Prevalence of Chronic Diseases

The following are the primary obstacles to the Nuclear Pharmacy market's expansion:
• Technological Complexities and Infrastructure Requirements
• Supply Chain Disruptions and Radiopharmaceutical Shortages
• Short half-life of radiopharmaceuticals

Future expansion opportunities for the global Nuclear Pharmacy market include:
• Growing Demand for Personalized Medicine
• Advancements in Nuclear Medicine Technologies
• Technological Innovations in Radiopharmaceutical Production

Key Industry Insights & Findings from the report:

• The industry is expanding as technology advancements allow radiopharmaceuticals to be used to identify and treat malignant tumors. The increasing prevalence of cancer and cardiovascular disorders, advances in radiopharmaceuticals, and the growing usage of nuclear medicine in diagnostic and therapeutic applications are the key drivers of the nuclear medicine market.
• The increased government funding for nuclear medical research and development will drive market growth.
• A chronic shortage of skilled healthcare professionals impedes the use of nuclear pharmacy technologies.
• North America is expected to have the largest market share in 2024 due to an increase in surgical procedures and a rise in preference for endovascular devices.

Market Analysis:
The market has been influenced by factors such as the rising prevalence of chronic illnesses, advances in nuclear medicine technology, and increased demand for customized medication. Regulatory approvals for new radiopharmaceuticals, expanded applications of nuclear medicine in cancer and neurology, and increased investment in nuclear medicine infrastructure all contribute to the Global Nuclear Pharmacy Market's growth.

Collaborations between pharmaceutical corporations, research universities, and healthcare providers strive to improve product development, streamline distribution routes, and increase patient access to nuclear medical services globally.

List of Prominent Players in the Nuclear Pharmacy Market:

• GE HealthCare
• Cardinal Health
• Curium
• Bayer AG
• Lantheus Holdings, Inc.
• Bracco Imaging S.p.A.
• PharmaLogic Holdings Corp.
• Eczacibasi-Monrol Nuclear Products
• NTP Radioisotopes SOC Ltd
• Nordion Inc.
• Novartis (Advanced Accelerator Application)
• NorthStar Medical Radioisotopes
• Eckert & Ziegler
• Isotope JSC
• Siemens Healthineers

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Recent Developments:
• In January 2023, NorthStar Medical Radioisotopes (US) has made significant progress in developing its novel method for producing molybdenum-99 (Mo-99), a crucial medical radioisotope, without using uranium.
• In May 2024, Mauritius launched its new National Cancer Centre in Solferino, marking the completion of nearly 10 years of IAEA support for the country's nuclear medicine development. The new center is expected to drastically change cancer care for Mauritius patients by consolidating all oncology services, including nuclear medicine, under one roof.
• In January 2023, NorthStar Medical Radioisotopes significantly improved their process to create molybdenum-99 without uranium. This strategic move propels the organization to the forefront of the nuclear medicine market while solving important supply chain challenges.

Nuclear Pharmacy Market Dynamics:
Market Drivers: Increasing incidence and prevalence of target conditions
The rising frequency of cancer and cardiovascular illness is a major factor driving market expansion. The majority of instances may be avoided with early identification and treatment; nuclear medicine plays an important role in these areas.

According to the American Heart Association 2022, roughly 19.1 million deaths were related to CVD worldwide in 2020. The age-adjusted mortality rate per 100,000 populations was 239.8, while the age-adjusted prevalence rate was 7354.1 per 100,000. Nuclear medicine plays an important role in illness detection and treatment, and the rising frequency of these disorders is expected to fuel market expansion throughout the forecast period.

Challenges: Technological Complexities and Infrastructure Requirements
Technological difficulties and infrastructural needs provide obstacles in the Global Nuclear Pharmacy Market, especially in emerging regions and resource-constrained settings. Radiopharmaceuticals must be produced and delivered using specific infrastructure, equipment, and experience to assure safe handling, synthesis, quality control, and distribution of radioactive medications.

Establishing and sustaining nuclear pharmacy, cyclotron, and radioisotope manufacturing facilities requires substantial capital commitment, regulatory permissions, and operating skills.

North America Is Expected To Grow With the Highest CAGR during the Forecast Period
North America is frequently considered the area controlling the global nuclear pharmacy market. Several reasons contribute to its dominant position in this sector. North America has cutting-edge healthcare infrastructure, with huge networks of hospitals, clinics, and academic medical institutions outfitted with sophisticated imaging technology and nuclear medicine facilities.

This infrastructure enables the widespread use of nuclear medicine techniques for diagnostic imaging, treatments, and medical research, resulting in increased demand for radiopharmaceuticals and nuclear pharmacy services.

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Segmentation of Nuclear Pharmacy Market-
By Type-
• Diagnostic Nuclear Medicine
o SPECT Radiopharmaceuticals
 Tc-99m
 1-123
 Tl-201
 Ga-67
 Other SPECT Isotopes
o PET Radiopharmaceuticals
 F-18
 Rb-82
 Other PET Isotopes
• Therapeutic Nuclear Medicine
o Alpha Emitters
 Ra-223
o Beta Emitters
 1-131
 Y-90
 Sm-153
 Lu-177
 Re-186
 Other Beta Emitters
• Brachytherapy Isotopes
o 1-125
o Ir-192
o Pd-103
o Cs-131
o Other Brachytherapy Isotopes
By Application-
• Diagnostic Applications
o SPECT Applications
 Cardiology
 Bone Scans
 Thyroid Applications
 Pulmonary Scans
 Other SPECT Applications
• PET Applications
o Oncology
o Cardiology
o Neurology
o Other PET Applications
• Therapeutic Applications
o Thyroid Indications
o Bone Metastasis
o Lymphoma
o Endocrine Tumors
o Other Indications
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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Nuclear Pharmacy Market Size Share and Future Opportunities in Oncology and Cardiology Applications