April, 2023
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Nuclear Medicine Therapeutics Market Size Share Analysis 2022
The global nuclear medicine therapeutics market presents a comprehensive analysis of different types including Alpha emitters, Beta emitters, and Brachytherapy. From 2021 to 2030, the market size forecast for nuclear medicine therapeutics is provided across these types. Further, the market share in each of the indications deploying nuclear medicine therapeutics including Cardiology, Neurology, Oncology, Thyroid, Lymphoma, Bone Metastasis, Endocrine Tumor, and other indications are included in the report. Further, the industry analysis also provides insights into leading Nuclear Medicine Therapeutics companies and also provides forecasts for the market outlook across leading countries worldwide.
Nuclear Medicine Therapeutics uses radioactive products such as alpha emitters, Beta emitters, Brachytherapy products, and others to treat diverse indications. Treatment providers combine precision targeting compounds with a therapeutic radioisotope such as Radium-223, Actinium-225, Lead-212, Iodine-131, Yttrium-90, Cesium-131, Iodine-125, and others
The increasing prevalence of CVDs and cancer conditions is encouraging the demand for nuclear medicine therapeutics. Various types of radioisotopes are widely used for therapeutic applications including hematological malignancies, thyroid cancer, liver cancer, neuroendocrine tumors, brain tumors, and bone and joint diseases. Ongoing R&D efforts on widening the scope of applications support the long-term market outlook.
Ongoing emphasis on the administration of nuclear medicine will fuel the long-term market growth prospects. Targeted radionuclide therapy with radioactive materials introduces radioisotopes taken in the form of tablets or liquid into the body. This kills cancer cells or shrinks tumors when absorbed by the impacted cells.
The advent of the personalized medicine field is also supporting the growth of the personalized therapy industry, in particular, in the areas of oncology, neurology, and cardiology, in the nuclear medicine therapeutics segment. Different existing and prospective radionuclides for use in targeted cancer therapy applications are observed. However, high operational expenses and ill effects of being exposed for longer durations can restrict the market outlook.
Nuclear Medicine Therapeutics Market Outlook
The global nuclear medicine therapeutics is valued at $2,365 million in 2022. Nuclear medicine is advancing cancer therapy. The market is poised to register robust growth over the forecast period to 2030. The market growth is fuelled by technological advancements in equipment, uses, design, structure, radioactive materials, and other fields.
Over the past few years, global nuclear medicine therapeutics recorded impressive growth, and the forecast looks robust with new approaches in targeted radionuclide therapy. By the end of the forecast period in 2030, the global nuclear medicine therapeutics market size is expected to reach $5,398 million, registering a growth rate of 10.87%, compounded annually between 2022 and 2030.
In addition, ongoing investments in the areas of developing highly efficient radiopharmaceuticals and toxic radionuclides like alpha emitters support the long-term outlook of nuclear medicine for the treatment of both benign and malignant diseases.
The chart below details the nuclear medicine therapeutics market size revenue forecast from 2021 to 2030-
Market Share Analysis-Radium 223 generates the highest revenue
Key types of nuclear medicine therapeutics include alpha emitters, Beta emitters, and brachytherapy. Of these, alpha emitters are the widely marketed products for nuclear medicine-based treatment. Alpha emitters comprise Radium-223, Actinium-225, Lead-212, and others. However, Radium-223 is the only marketed alpha emitter across most countries. During 2022, the alpha emitters segment accounted for 76.5% market share in the global nuclear medicine therapeutics industry.
In addition, Beta emitters such as Iodine-131, Yttrium-90, Samarium-153, Rhenium 186, Lutetium 177, and others are also witnessing steady demand growth driven by widening applications of nuclear medicine therapeutics. The Beta-emitters market accounted for 17.2% market share in the global nuclear medicine treatment market in 2022.
The global Brachytherapy division comprising Cesium-131, Iodine-125, Palladium-103, and Others accounted for a small market share of 6.3% during the year.
The chart below provides the market share by key nuclear medicine therapeutics types during 2022-
Market Drivers- Key applications fuelling the Nuclear Medicine Therapeutics Industry Growth
Therapeutic Nuclear Medicines are the radiopharmaceutical drugs used to treat various disorders or diseases including hyperthyroidism, thyroid cancer, prostate cancer, lymphoma, neuroendocrine tumors, pain palliation from bone metastasis, and meningiomas. These medicines to cancer cells and destroy them. In comparison to X-rays and other radiation therapies, Therapeutic Nuclear Medicines find extensive use as a safe and effective alternative to cancer therapies.
Key indications using nuclear medicine for therapeutic applications include Cardiology, Neurology, Oncology, Thyroid, Lymphoma, Bone Metastasis, Endocrine Tumor, and Other indications. Of these, the oncology and cardiology segments accounted for the largest market revenue of $560 million in 2022.
Market Dynamics- Drivers, Restraints, and Opportunities
The growing number of cancer cases globally due to the changing lifestyles and environmental impact has been creating awareness among the public and healthcare industry to increase the production and development of nuclear medicine therapeutics. All these factors help in the growth of the market.
Over the past few years, the radiotheranostics field has evolved significantly. Radiotheranostics involves the combined therapy of radio-isotopes and targeted cancer cells. This has brought about a great evolution in the treatment of different cancers.
However, because of their short half-life, radioisotopes decay fastly; and also the higher costs of machinery and the radioisotopes hamper many companies from investing huge amounts in these therapies. These as such restrain the market growth.
Key Nuclear Medicine Therapeutics Companies
Owing to the rise of awareness of cancers, many small players are emerging from the Asia-Pacific region. This also has been helping the market grow. Many key companies in the market are increasing their research activities to develop new radiopharmaceutical drugs and expand the applications of nuclear medicine therapeutics to various kinds of cancers.
In September 2022, IBA (Ion Beam Applications SA), the world leader in particle accelerator technology partnered with the Belgian Nuclear Research Center SCK CEN to form a joint venture: Pantera SA /NV. The partnership enables the production of a novel radioisotope, Actinium-225, which supports the treatment of cancer.
Some of the prominent leaders operating in the global Nuclear Medicine Therapeutics market include Bayer AG, Alpha Tau Medical Ltd., IBA, Jubilant Life Sciences Company, Actinium Pharmaceutical Inc., Eckert & Ziegler, Progenics Pharmaceuticals (Lantheus Holdings), Advanced Accelerator Applications (Novartis).
Nuclear Medicine Therapeutics Market Segmentation
Types
Disease
Companies
Regions
1. Executive Summary
1.1 Introduction to Nuclear Medicine Therapeutics Markets
1.2 Nuclear Medicine Therapeutics Market Size Outlook, 2021- 2030
1.3 Growth Opportunities in the Nuclear Medicine Therapeutics Industry
1.4 Winning Strategies for the post-pandemic future
2. Report Guide
2.1 Market Definition and Scope
2.2 Market Segmentation
2.3 Research Methodology
2.4 Forecast Methodology
2.5 List of Abbreviations
3. Growth Opportunity Analysis
3.1 Key Nuclear Medicine Therapeutics Market Trends
3.1.1 Investment in expanding the radiopharmaceuticals across applications
3.1.2 Introduction of novel therapies for a diverse range of conditions
3.2 Key Nuclear Medicine Therapeutics Market Growth Drivers
3.2.1 Increase in disease prevalence
3.2.2 Personalized medicine field developments
3.2.3 Favorable reimbursement mechanisms for nuclear medicine therapeutics
3.3 Key Nuclear Medicine Therapeutics Market Growth Restraints
3.3.1 High costs of treatment
3.3.2 Supply fluctuations leading to a shortage of nuclear medicine
3.3.3 Regulatory challenges
4 Nuclear Medicine Therapeutics Market Outlook – Scenario Analysis
4.1 Low Growth Case Scenario Forecasts: Nuclear Medicine Therapeutics Market Size Outlook to 2030
4.2 Reference Growth Case Scenario Forecasts: Nuclear Medicine Therapeutics Market Size Outlook to 2030
4.3 High Growth Case Scenario Forecasts: Nuclear Medicine Therapeutics Market Size Outlook to 2030
5. Nuclear Medicine Therapeutics Market Segmentation- Outlook by Type
5.1 Nuclear Medicine Therapeutics Market Share Analysis by Type, 2023
5.2 Alpha emitters Market Outlook to 2030
5.3 Beta emitters Market Outlook to 2030
5.4 Brachytherapy Market Outlook to 2030
6. Nuclear Medicine Therapeutics Market Segmentation- Outlook by Indication
6.1 Nuclear Medicine Therapeutics Market Share Analysis by Indication, 2023
6.2 Cardiology: Nuclear Medicine Therapeutics Market Outlook to 2030
6.3 Neurology: Nuclear Medicine Therapeutics Market Outlook to 2030
6.4 Oncology: Nuclear Medicine Therapeutics Market Outlook to 2030
6.5 Thyroid: Nuclear Medicine Therapeutics Market Outlook to 2030
6.6 Lymphoma: Nuclear Medicine Therapeutics Market Outlook to 2030
6.7 Bone Metastasis: Nuclear Medicine Therapeutics Market Outlook to 2030
6.8 Endocrine Tumor: Nuclear Medicine Therapeutics Market Outlook to 2030
6.9 Other indications: Nuclear Medicine Therapeutics Market Outlook to 2030
7. North America Nuclear Medicine Therapeutics Market Outlook and Opportunities to 2030
7.1 Market Snapshot, 2023
7.2 North America Nuclear Medicine Therapeutics Market Growth Opportunities
7.2.1 North America Nuclear Medicine Therapeutics Market Outlook by Type, 2021 to 2030
7.2.2 North America Nuclear Medicine Therapeutics Market Outlook by Application, 2021 to 2030
7.2.3 North America Nuclear Medicine Therapeutics Market Outlook by Country, 2021 to 2030
7.3 United States Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
7.4 Canada Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
7.5 Mexico Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
8. Europe Nuclear Medicine Therapeutics Market Outlook and Opportunities to 2030
8.1 Market Snapshot, 2023
8.2 Europe Nuclear Medicine Therapeutics Market Growth Opportunities
8.2.1 Europe Nuclear Medicine Therapeutics Market Outlook by Type, 2021 to 2030
8.2.2 Europe Nuclear Medicine Therapeutics Market Outlook by Application, 2021 to 2030
8.2.3 Europe Nuclear Medicine Therapeutics Market Outlook by Country, 2021 to 2030
8.3 Germany Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
8.4 France Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
8.5 United Kingdom Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
8.6 Spain Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
8.7 Italy Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
8.8 Other Europe Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
9. Asia Pacific Nuclear Medicine Therapeutics Market Outlook and Opportunities to 2030
9.1 Market Snapshot, 2023
9.2 Asia Pacific Nuclear Medicine Therapeutics Market Growth Opportunities
9.2.1 Asia Pacific Nuclear Medicine Therapeutics Market Outlook by Type, 2021 to 2030
9.2.2 Asia Pacific Nuclear Medicine Therapeutics Market Outlook by Application, 2021 to 2030
9.2.3 Asia Pacific Nuclear Medicine Therapeutics Market Outlook by Country, 2021 to 2030
9.3 China Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
9.4 Japan Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
9.5 India Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
9.6 South Korea Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
9.7 Indonesia Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
9.8 Other Asia Pacific Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
10. South and Central America Nuclear Medicine Therapeutics Market Outlook and Opportunities to 2030
10.1 Market Snapshot, 2023
10.2 South and Central America Nuclear Medicine Therapeutics Market Growth Opportunities
10.2.1 South and Central America Nuclear Medicine Therapeutics Market Outlook by Type, 2021 to 2030
10.2.2 South and Central America Nuclear Medicine Therapeutics Market Outlook by Application, 2021 to 2030
10.2.3 South and Central America Nuclear Medicine Therapeutics Market Outlook by Country, 2021 to 2030
10.3 Brazil Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
10.4 Argentina Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
10.5 Other Latin America Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
11. Middle East and Africa Nuclear Medicine Therapeutics Market Outlook and Opportunities to 2030
11.1 Market Snapshot, 2023
11.2 Middle East and Africa Nuclear Medicine Therapeutics Market Growth Opportunities
11.2.1 Middle East and Africa Nuclear Medicine Therapeutics Market Outlook by Type, 2021 to 2030
11.2.2 Middle East and Africa Nuclear Medicine Therapeutics Market Outlook by Application, 2021 to 2030
11.2.3 Middle East and Africa Nuclear Medicine Therapeutics Market Outlook by Country, 2021 to 2030
11.3 Saudi Arabia Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
11.4 United Arab Emirates (the UAE) Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
11.5 Other Middle East Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
11.6 Egypt Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
11.7 South Africa Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
11.8 Other Africa Nuclear Medicine Therapeutics Market Outlook, 2021 to 2030
12. Profiles of major world Nuclear Medicine Therapeutics Companies
12.1 Bayer AG
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.2 Alpha Tau Medical Ltd
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.3 IBA - Radiopharma Solutions
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.4 Advanced Accelerator Applications (Novartis)
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.5 Jubilant Life Sciences Company
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.6 Actinium Pharmaceutical Inc
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.7 Eckert & Ziegler
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.8 Progenics Pharmaceuticals
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
13. Appendix
13.1 Publisher’s Expertise
13.2 List of Tables and Charts
13.3 List of Exhibits
13.4 Legal Disclaimer
Increase in disease prevalence, Personalized medicine field developments, Favorable reimbursement mechanisms for nuclear medicine therapeutics, Investment in expanding the radiopharmaceuticals across applications, Introduction of novel therapies for a diverse range of conditions
The global nuclear medicine therapeutics is valued at $2,365 million in 2022.
The global nuclear medicine therapeutics market size is expected to register a growth rate of 10.87%, compounded annually between 2022 and 2030.
Bayer AG, Alpha Tau Medical Ltd, IBA - Radiopharma Solutions, Advanced Accelerator Applications (Novartis), Jubilant Life Sciences Company, Actinium Pharmaceutical Inc, Eckert & Ziegler, Progenics Pharmaceuticals, and others
Cardiology-based nuclear medicine therapeutics are attracting wide interest from companies and investors