The radiopharmaceuticals market is undergoing significant expansion as nuclear medicine becomes a central pillar of advanced diagnostics and therapeutic care. Valued at USD 7.06 billion in 2024, the market is expected to reach USD 15.67 billion by 2034, growing at a strong CAGR of 8.30%. This rise is driven by advancements in the medical isotopes market, increased use of PET and SPECT imaging, and growing adoption of precision oncology.

Radiopharmaceuticals play a crucial role in early disease detection, targeted cancer therapy, and organ-function evaluation. As the global burden of cancer, neurological disorders, and cardiovascular diseases continues to rise, demand for reliable and non-invasive imaging solutions has intensified. Additionally, next-generation isotopes, expanded cyclotron production, and new FDA approvals are strengthening the industry’s growth trajectory.

Radiopharmaceuticals Market Size, Trends & Key Insights

The shift toward theranostics—combining diagnostics and therapy—has become one of the most influential trends shaping the market. Radioisotopes such as Fluorine-18, Gallium-68, Iodine-131, and Radium-223 are witnessing high adoption in oncology and neurology. Improved availability of cyclotrons and modernization of nuclear reactors further support stable isotope production.

Key Market Drivers

1. Rising prevalence of cancer and chronic diseases

2. Increased use of PET/CT and SPECT imaging

3. Expansion of targeted radionuclide therapies

4. Growing investments in nuclear medicine research

5. Technological advancements in radioisotope production

Market Segmentation Overview

Type Outlook

1. Diagnostic Radiopharmaceuticals

2. Therapeutic Radiopharmaceuticals

Sources Outlook

1. Cyclotron

2. Nuclear Reactors

Radioisotopes Outlook

1. Iodine I

2. Technetium 99m

3. Fluorine 18

4. Gallium 68

5. Radium 223

6. Zirconium 89

7. Others

Application Outlook

1. Cancer: Prostate, Lung, Breast, Others

2. Neurology

3. Cardiology

4. Others

End User Outlook

1. Hospitals

2. Diagnostic Imaging Centers

3. Research & Academic Institutes

4. Others

Get a Free Sample Report with Table of Contents - bit.ly/3lRm6Fc

Region Outlook

1. North America

2. Europe

3. Asia Pacific

4. Latin America

5. Middle East & Africa

Key Companies Operating in the Radiopharmaceuticals Market

Leading players driving innovation include Bayer AG, Iso-Tex Diagnostics, Jubilant Pharmova, Novartis AG, GE Healthcare, Lantheus Holdings, Eli Lilly, Siemens AG, Curium Pharma, and Cardinal Health. These companies focus on expanding radiopharmaceutical production, enhancing imaging technologies, and developing advanced radionuclide therapies.