According to Allied Market Research, the global radiopharmaceuticals market is expected to reach $21.8 billion by 2033, growing at a 10.6% compound annual growth rate (CAGR), fueled by the rising burden of chronic disease and increasing research and development activity.
The report projects that Asia-Pacific will see the fastest growth over the forecast period, supported by expanding healthcare infrastructure and greater investment in hospitals, diagnostic centers, and research facilities. Rising rates of chronic illnesses—particularly cancer and cardiovascular disease—are also boosting regional demand.
North America led the market in 2023, representing over 40% of global revenue, and is expected to retain its top position through 2033, supported by strong pharmaceutical infrastructure and established regulatory and reimbursement frameworks.
By application, cancer care represented the largest share in 2023—52.2% of market revenue—driven by wider adoption of personalized medicine and molecular profiling. In radioisotopes, Technetium-99m remains the leading isotope due to its favorable physical characteristics and formulation compatibility.
Key barriers include the high costs of development and implementation, along with potential side effects, while products in the pipeline could create significant future opportunities. Hospitals and clinics remain the main end users and are expected to post the highest growth among user segments.
By product type, diagnostic radiopharmaceuticals hold the largest share today, while the therapeutic segment is expanding—particularly through targeted radionuclide therapies for prostate cancer and neuroendocrine tumors. Regulatory policies continue to shape market entry timelines and competitiveness, while reimbursement policies strongly influence real-world clinical adoption.