Nuclear Medicine Market Size, Share, Growth Analysis, By Product(Diagnostics(SPECT [TC-99m, TL-201, GA-67, I-123), By Application(Cardiology(SPECT, PET, Therapeutic Applications), Neurology), By Procedural Volume Assessment(Diagnostic Procedures, Therapeutic Procedures), By End Use(Hospitals, Diagnostic Centers, Others), By Region - Industry Forecast 2024-2031

North America is the largest region in the nuclear medicine market and has a share of about 45.1% and is anticipated to grow add a considerable rate during the forecasted period. Due to the increased investment in R&D activities, high volume of nuclear medicine procedures, and strong health infrastructure is contributing towards the high market share of this region. For instance, Eckert and Ziegler made a development plan for cGMP facility in U.S. for contract manufacturing of radiopharmaceuticals. It will help in the production of late investigational stage and commercial stage radioisotopes which are used in nuclear medicine and help in contributing to the increasing demand for radionuclides in the market. 

On the other hand, Asia-Pacific region is estimated to be the fastest-growing region owing to the increased awareness about nuclear medicine therapies and rising investment in nuclear medicine space. This launch is expected to have an impact on the regional market. However, the high cost of these therapies may limit market growth because the lower-income population in developing countries may be unable to afford such treatment. In India, for example, the cost of treatment with Yttrium-90, Lutetium-177, and Iodine-131 may be approximately USD 23,850, USD 5,962, and USD 3,312 respectively.