The nuclear medicine market is projected to grow significantly, reaching USD 13.6 billion in 2023 and anticipated to achieve a CAGR of 16.3% from 2024 to 2032. This growth is driven by increasing rates of cancer and cardiovascular diseases, the rising demand for non-invasive diagnostic techniques, and ongoing innovations in radiopharmaceuticals. The diagnostics segment alone generated USD 9.4 billion in revenue in 2023. Governments and research organizations are investing heavily in the infrastructure to enhance nuclear medicine capabilities, particularly in developed countries. The market is segmented into diagnostics and therapeutics, with hospitals leading in end-use. North America accounted for USD 7 billion in nuclear medicine revenue in 2023 and is expected to grow at a CAGR of 15.6% through 2032, supported by advanced healthcare facilities and an aging population. Key players in the market include major companies like GE Healthcare, Siemens Healthineers, and Novartis among others. This report emphasizes the growing importance of nuclear diagnostics, particularly in cardiology, as lifestyle changes and an elderly demographic increase the prevalence of heart disease globally.
Wed, 08 Jan 2025 08:00:00 GMT | GlobeNewswire