The global medical isotope market, valued at USD 5.66 billion in 2023, is projected to grow to USD 12.15 billion by 2032, reflecting a compound annual growth rate of 8.87% during the forecast period from 2024 to 2032. This growth is attributed to increased applications of medical isotopes, particularly in cancer treatment and diagnostics. In 2023, radioisotopes, such as technetium-99m and iodine-131, dominated the market. The diagnostic segment accounted for 70% of market share, while nuclear therapy is the fastest-growing application due to innovations in targeted therapies. North America leads the market, supported by advanced healthcare infrastructure and significant investment in nuclear medicine. Recent developments include plans for a new medical isotope processing facility announced by the government and Bruce Power, aimed at enhancing local production and delivery speeds for medical isotopes.
Sun, 08 Dec 2024 13:07:26 GMT | GlobeNewswire