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Table Of Content
January 2025
The global medical isotope production market size is calculated at USD 4.71 billion in 2025 and is forecasted to reach around USD 9.69 billion by 2034, accelerating at a CAGR of 8.34% from 2025 to 2034. The North America market size surpassed USD 2.52 billion in 2024 and is expanding at a CAGR of 8.45% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.
The global medical isotope production market size accounted for USD 4.35 billion in 2024 and is predicted to increase from USD 4.71 billion in 2025 to approximately USD 9.69 billion by 2034, expanding at a CAGR of 8.34% from 2025 to 2034. The medical isotope production market is gaining momentum due to increasing demand for nuclear medicine in cancer and cardiac diagnostics, supportive government initiatives, and improvements in cyclotron and reactor-based production methods that are growing the market globally.
Artificial Intelligence (AI) continues to redefine how medical isotopes, which are indispensable in both diagnostics and therapeutic cancer modeling, are produced and shipped around the world. In June 2025, three major industry partnerships were formed to increase the supply of isotopes to the nuclear medicine community because they were already leveraging the capabilities of AI to improve the dependence and timing of medical isotope production.
Likewise, in the research space, neural-network models are being employed to model isotopes production cross-sections to improve forecasts of isotopes yields and consistency. Overall, these advances in both the industry and research laboratories are showcasing the game-changing benefits AI will confer on the medical isotopes supply chain by increasing safely produced and scalable solutions for nuclear medicine.
The U.S. medical isotope production market size was exhibited at USD 1.77 billion in 2024 and is projected to be worth around USD 4.00 billion by 2034, growing at a CAGR of 8.49% from 2025 to 2034.
How is North America Leading the Medical Isotope Production Market?
North America took a commanding share of the medical isotope production market in 2024 because of its strong nuclear medicine infrastructure, robust government support, and increasing domestic production capabilities. The U.S. Department of Energy (DOE) has been instrumental, funding isotope production projects via its Isotope Program. In 2024, SHINE Technologies of Wisconsin made great strides toward commercial production of molybdenum-99 (Mo-99) and lutetium-177 (Lu-177) through fusion-based production, making the U.S. less reliant on foreign isotope suppliers.
The United States is still the leading producer of medical isotopes in North America. With over 20 million nuclear medicine procedures per year, there is a significant and ongoing need for isotopes (e.g., Mo-99, I-131, and Tc-99m) in the United States.
(Source: https://world-nuclear.org)
NorthStar Medical Radioisotopes and SHINE Technologies continue to pioneer production with innovative methods that are non-reactor-based, utilize fewer resources, and create less waste while increasing operational safety.
The U.S. also has regulatory momentum that streamlines the licensing and transportation protocols necessary to maintain a viable domestic supply chain of isotopes that can accommodate growing clinical demands.
How Europe is strengthening its Position in the Global Medical Isotope Supply Chain?
Europe is poised to become a region of major growth in the production of medical isotopes as infrastructure investments are encouraged and initiatives aimed at securing a local supply are harnessed. Most notably, in July 2024, the European Commission is expected to approve Dutch state funding of €2 billion towards building the PALLAS reactor in Petten, Netherlands. This next-generation facility is being constructed to lock in long-term production of priority isotopes, such as molybdenum-99 (Mo-99), which is relied on for countless imaging procedures throughout the year. Europe has been experiencing chronic isotope shortages as a result of maintenance closures at existing reactors, such as the temporary closure of the High Flux Reactor in Petten in October 2023, illustrating the urgent need to establish a more stable supply of isotopes.
As part of the European effort to grow capacity, the Netherlands has put its plans into action and is building new capacity. The Netherlands is the home of the High Flux Reactor (HFR) in Petten, which is currently one of a small number of reactors worldwide capable of producing Mo99. In addition to the HFR, the Netherlands is building a new PALLAS reactor, which is scheduled to be operational by 2030. This €2 billion investment is expected to help enhance locally sourced production of medical isotopes, which will allow Europe to be less dependent on older international facilities.
Asia has become the Global Hub for the Medical Isotope Production Market
The Asia Pacific region is the fastest-growing market in medical isotopes production due to expanding nuclear medicine potential and increasing healthcare demands. Countries such as China and India are heavily investing in isotope development and associated infrastructure to support increasing medical needs, particularly related to cancer diagnosis and therapy. The India Bhabha Atomic Research Centre (BARC) operates 24 medical cyclotrons to produce isotopes such as Molybdenum-99 (Mo-99), Iodine-131, and Samarium-153. China, on the other hand, has launched a Three-Year Action to expand on isotope production. These investments and programs are setting strong foundations for an independent isotope supply.
China is well on its way to being Asia Pacific's largest player in medical isotope production. China is scaling both cyclotron and reactor production under its national energy roadmap with strong industry and government support. They are focusing on building domestic production capacity and reducing reliance on imports, as they move to meet the increasing need for cancer and chronic disease support. The government's actions are in line with further modernizing its health system and improving access to nuclear medicine.
The medical isotope production market refers to the industry involved in the generation, processing, and supply of radioactive isotopes used primarily for diagnostic imaging, therapeutic applications, and research in the medical field. These isotopes, also known as radioisotopes, are typically produced in nuclear reactors or cyclotrons and are integral to nuclear medicine procedures such as PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography).
Medical isotopes like Technetium-99m, Iodine-131, Fluorine-18, and Lutetium-177 are utilized for cancer diagnosis, cardiology, neurology, thyroid treatments, and more. Market dynamics are influenced by isotope availability, production technologies, regulatory frameworks, and expansion in nuclear medicine applications.
| Report Coverage | Details |
| Market Size by 2034 | USD 9.69 Billion |
| Market Size in 2025 | USD 4.71 Billion |
| Market Size in 2024 | USD 4.35 Billion |
| Growth Rate from 2025 to 2034 | CAGR of 8.34% |
| Dominating Region | North America |
| Largest Market | Asia Pacific |
| Base Year | 2024 |
| Forecast Period | 2025 to 2034 |
| Segments Covered | Isotope Type, Production Technology, Application, End-User, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Is the Rise in Cancer Incidence behind the Surge in Medical Isotope Demand?
One significant market driver for medical isotope production is the increasing global burden of cancer. The World Health Organization (WHO) states that almost 10 million people died from cancer in 2022, making cancer one of the leading causes of death worldwide. Medical isotopes like Technetium-99m are critical for identifying cancer early through nuclear imaging.
The International Atomic Energy Agency (IAEA) states that over 50 million nuclear medicine procedures are performed annually worldwide. Most of which involve cancer diagnostics. (Source: https://www.iaea.org)
In anticipation of growing demand for medical isotopes, government-backed investments are expanding medical isotope production the National Research Universal Reactor in Canada and the National Isotope Development Center (NIDC) of the U.S. Department of Energy (DOE) are scaling up non-reactor-based production for isotopes in hopes of weaning the world off aging reactors and foreign supplies.
Is Stringent Regulatory Oversight Delaying Medical Isotope Production?
The complex and stringent regulatory landscape will represent a major obstacle to the timely expansion of medical isotope production. Isotope producers must navigate rigorous safety, transport, and environmental regulations from regulatory agencies, including the U.S. Nuclear Regulatory Commission (NRC), Health Canada, and the International Atomic Energy Agency (IAEA). For example, the NRC’s licensing process for new isotope production facilities and the transport of radioactive materials will, in some cases, take the better part of several years.
Can the Global Expansion of Theranostics Create New Opportunities for Medical Isotope Production?
The increased global interest in Theranostics diagnostics and therapy represents a significant opportunity for the medical isotope production marketplace. Theranostic procedures are vastly growing in acceptance across countries like India, Australia, and Brazil, simply because theranostics provide differential targeting and uniqueness.
Accordingly, the U.S. FDA has approved and granted Priority Review to a sizeable number of radiopharmaceuticals for theranostic uses, indicating a strong regulatory framework. These decisions create interest in the need for new isotopes and supply chains. Given the healthcare systems prioritizing precision medicine, the global expansion of theranostics can serve as an expansive growth engine for isotope producers, especially in developing healthcare markets and nuclear medicine clusters.
How Does Diagnostic Isotope Segment Hold Such a Significant Share of the Medical Isotope Production Market?
The diagnostic isotope segment holds the largest share of the medical isotope production market, owing to the large volume of diagnostic isotopes typically used in non-invasive imaging when diseases are identified. These isotopes are mainly used in SPECT or PET imaging in cardiology, oncology, and neurology. The most prominent among the isotopes is Technetium-99m (Tc-99m), which accounts for almost 70% of the market demand for diagnostic isotopes.
The Tc-99m is the dominant sub-segment owing to its proven clinical utility, existing infrastructure, and widespread use. The emerging diagnostic isotope growth is Gallium-68 (Ga-68), which is advancing quickly due to increasing use of PET imaging, largely from use for neuroendocrine tumors and prostate cancer. Ga-68 is excellent for peptide-based tracers and clinical uptake has increased because of generate production style, clinical availability and use.
Therapeutic isotope is the fastest growing segment, as important to the treatment of cancers and chronic conditions with targeted radiotherapy. The segment is helped by the increasing cancer incidence and the demand for less invasive therapies. Therapeutic isotopes are not exclusively for oncology; they are also used in bone pain palliation and other therapies, making them a major contributor to the overall medical isotopes landscape.
Iodine-131 (I-131) has the largest share of this segment due to its universally accepted clinical use and effectiveness in treating thyroid disorders. Lutetium-177 (Lu-177) is the fastest growing isotope, gaining traction at a rapid rate for its use in targeted radionuclide therapies for patients with neuroendocrine tumors and metastatic prostate cancer. The precision, low toxicity, and rapidly expanding use of Lu-177 as a cornerstone of many radioligand therapies has raised the profile of Lu-177, and the demand for the isotope is at its highest since it potential is being discussed in the context of personalized treatment for cancer patients.
Why Is Nuclear Reactor-Based Production Dominant in 2024?
Nuclear reactor-based production has the largest slice of the medical isotope production market, accounting for around 65% of the segment. This method of producing isotopes is the main source of numerous isotopes used in clinical procedures on a large scale, such as Molybdenum-99 (which decays into Technetium-99m), Iodine-131, and others. Reactor-based production can produce isotopes with high throughput and consistent outputs, which makes it necessary to supply hospitals and imaging centers worldwide.
Cyclotron-based production is the fast-growing technology in the medical isotope market, focused on demand for short-lived PET isotopes, particularly Fluorine-18 and Gallium-68. Cyclotrons facilitate the onsite or regional production, thereby reducing losses due to decay during transport, and allow for on-demand use for imaging procedures on the same day. Cyclotrons, therefore, allow decentralizing imaging procedures to use advanced imaging for diagnostic purposes in oncology and neurology.
How Does Diagnostic Application Segment Dominant The Market In 2024?
The most dominant segment of the market continues to be diagnostic applications, driven by the role of PET and SPECT imaging in timely disease detection. Due to the strong global need for accurate diagnosis of cancer, the oncology subsegment remains the largest, facilitated by the widespread use of Technetium-99m and Fluorine-18.
Oncology leads and is widely used in the detection and monitoring of tumours; however, the neurology subsegment is growing faster, driven by increased incidence of Alzheimer’s and Parkinson’s diseases, driving demand for Gallium-68 and Fluorine-18 isotopes in brain imaging.
Therapeutic applications are driven by the need for targeted radiotherapy. Thyroid disorders lead to the overall use in therapeutics typically treated with Iodine-131, for hyperthyroidism and thyroid cancer. Established practices in health care settings and global access to Iodine-131 ensure it remains the leading isotope in the therapeutic segment.
Thyroid disorders represent the leading therapeutic applications, mainly treated with Iodine-131, due to its proven clinical efficacy along with pre-existing internationally accepted protocols. While hyperthyroidism and thyroid cancer maintain steady and anticipated development levels of demand, cancer therapy is continuously evolving with the proliferation of the use of isotopes, such as Lutetium-177, in targeted therapies for prostate and neuroendocrine tumors, providing high specificity and low side effects.
How is the Hospitals & Clinics the Dominated the Medical Isotope Production Market in 2024?
Hospitals and clinics lead the way in the end-user segment with approximately 55% market share. These end users are the major center for diagnostic imaging and radiotherapy procedures, where a nuclear medicine department would be available. Hospitals are good end users of radiopharmaceuticals, and they have nuclear medicine departments, and have highly advanced imaging systems such as SPECT and PET, and personnel that are capable of administering and storing radiopharmaceuticals.
Pharmaceutical and biotechnology companies comprise the fastest-growing end-user segment because they are playing an increasingly important role in the development of novel radiopharmaceuticals and patient-focused therapies. Pharmaceutical companies and biotech-focused companies are investing in research that is integrating isotopes such as Lu-177 and Ga-68 for targeted cancer therapies and diagnostics. The increasing number of clinical trials, developments in radiotheranostics, and collaborations with contract manufacturing organizations (CMOs) and academic institutions will continue to fuel the growth of this segment.
By Isotope Type
By Production Technology
By Application
By End-User
By Region
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