Nuclear medicine market to reach USD 15.2 billion by 2025

The global radiopharmaceuticals/nuclear medicine market size is expected to reach USD 15.2 billion by 2025, registering a 10.1 percent CAGR from 2018 to 2025, according to Grand View Research. The burden of chronic diseases such as cancer and cardiac disorders is on a rise. Nuclear medicine is widely used for diagnosis as well as treatment of such disorders. Increasing prevalence of these disorders has a direct impact on usage of radiopharmaceuticals. As per data published by the World Health Organization (WHO), cancer is the second leading cause of death around the globe. This is anticipated to drive demand for radiopharmaceuticals in the years to come. Diagnostics, when combined with nuclear medicine, improve accuracy to a great extent. This can have a direct impact on decision-making and treatment monitoring processes.

Adoption of PET as a diagnostic tool is rapidly increasing since it has shown greater precision over other diagnostic techniques. The therapeutic segment, which comprises alpha emitters, beta emitters, and brachytherapy, is anticipated to exhibit lucrative growth over the coming years. North America has dominated the global radiopharmaceuticals market owing to well-planned policies, favorable reimbursement structure, high healthcare spending, and increasing awareness. Asia-Pacific is expected to witness lucrative growth in the coming years. Increasing per capita income and reform in policies is attracting market players in the region.