Radiopharmaceuticals Market Set to Grow with 16.4% CAGR from 2024 to 2029

"Therapeutic Radiopharmaceuticals to Lead Market Growth with Over 29.0% CAGR; New PET Tracers Expected to Drive Expansion by 2029"

Boston, June 17, 2025 (GLOBE NEWSWIRE) -- According to the latest study from BCC Research, the “Radiopharmaceuticals: Technologies and Global Markets” is expected to grow from $10.3 billion in 2024 to reach $21.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 16.4% during the forecast period of 2024 to 2029.

The report on the global radiopharmaceuticals market provides a comprehensive analysis, combining both quantitative and qualitative data to impact a clear understanding of the market dynamics. The market is segmented by product, application, production method, and geographical region. Market drivers, restraints, and opportunities are identified, helping stakeholders make informed business decisions and develop effective growth strategies. Additionally, the report examines the competitive landscape, highlights emerging trends, and covers the latest developments such as new products, acquisitions, and collaborations in the radiopharmaceuticals market.

This report is particularly relevant today, due to the significant financial activity in the radiopharmaceutical industry, which has seen multibillion-dollar deals in recent years. The surge in funding and investments underscores the growing recognition of nuclear medicine's crucial role in healthcare. Radiopharmaceuticals are increasingly viewed as essential for addressing unmet medical needs, making this report a valuable resource for understanding market dynamics, identifying opportunities, and making informed business decisions in this rapidly evolving field.

The factors driving the market’s growth include:

Rising Prevalence of Cancer and Chronic Diseases: As cancer and chronic diseases become more common, the demand for radiopharmaceuticals for diagnosis and treatment increases.

Unmet Need in Oncology: Many cancers and tumor types still lack effective treatments, driving the need for new radiopharmaceutical solutions.

Precision Medicine: Tailoring treatments to individual patients' genetic profiles improves effectiveness and reduces side effects, boosting the use of radiopharmaceuticals.

Advances in Nuclear Imaging Technologies: New technologies like PET and PET/MRI provide more accurate and detailed images, enhancing the diagnostic capabilities of radiopharmaceuticals.

Increasing Investment: Investments in R&D are leading to new radiopharmaceuticals, driving market growth.

Request a sample copy of the global radiopharmaceuticals market report.

Report Synopsis

Interesting facts:

• The volume of cardiac SPECT scans in developed nations (e.g., the U.S., Western Europe, and Japan) has dropped significantly over the last 15 years.

• The approval of anti-amyloid drugs for Alzheimer’s disease represents a significant opportunity for PET radiopharmaceuticals.

• The ongoing Russia-Ukraine war has accelerated efforts to diversify the global supply chain, with increased investment in non-reactor-based production methods (e.g., cyclotrons, linear accelerators) and expanded production in countries such as Australia, South Africa and the U.S.

Emerging startups:

• Actinium Pharmaceuticals Inc. is a late-stage biopharma company developing targeted radiotherapies. Its radiotherapy drug candidate, Iomab-B, is in phase 3 clinical trials to improve patient access to potentially curative bone marrow transplant.

• RadioMedix: is a clinical-stage biotech developer of radiopharmaceuticals for PET imaging and therapeutic radiopharmaceuticals.

The report addresses the following questions:

1. What is the projected size and growth rate of the radiopharmaceuticals market?

• The global radiopharmaceuticals market was estimated at $8.8 billion in 2023 and is projected to reach $21.9 billion by the end of 2029, at a CAGR of 16.4% during the forecast period.

2. What market segments are covered in the report?

• This in-depth analysis of the global radiopharmaceuticals market includes historical data and market projections by product type, application, production method, region and country.

3. Which application segment will be dominant through 2029?

• The oncology segment is anticipated to remain the dominant application.

4. Which product type segment is growing the fastest?

• The therapeutic radiopharmaceuticals segment is the fastest growing segment in the market.

Leading Companies Include:

• BAYER AG
• BLUE EARTH DIAGNOSTICS
• BOSTON SCIENTIFIC CORP.
• BWXT MEDICAL LTD.
• CARDINAL HEALTH
• CURIUM
• ECKERT & ZIEGLER
• GE HEALTHCARE
• INTERNATIONAL ISOTOPES INC.
• IONETIX CORP.
• JUBILANT PHARMOVA LTD.
• LANTHEUS
• NMR
• NOVARTIS AG
• SIEMENS HEALTHINEERS AG

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