ITM Isotope Technologies Munich, the Technical University of Munich, and TUM University Hospital signed a collaborative R&D deal to co-develop radiopharmaceuticals and radionuclides (like lutetium-177). This development builds on shared research results that might be incorporated into software processes for nuclear medicine diagnostics and therapy planning.
The global nuclear medicine equipment market, valued at US$6.33 billion in 2024, stood at US$6.63 billion in 2025 and is projected to advance at a resilient CAGR of 4.62% from 2025 to 2030, culminating in a forecasted valuation of US$8.31 billion by the end of the period. The growth of this market is primarily accelerated by the increasing prevalence of cancer and cardiovascular diseases, rising demand for early and precise diagnostic imaging, and increased use of hybrid imaging devices such as PET/CT and SPECT/CT.
Moreover, the convergence of AI-based imaging software and the establishment of nuclear medicine facilities in emerging economies is creating new platforms for long-term market development.
DRIVER: Growing demand for personalized medicines and theranostics
The increased demand for theranostics and personalized medicine is driving the expansion of the nuclear medicine equipment industry. An article published by Elsevier in August 2024, predicts that 60% of all nuclear medicine procedures will incorporate theranostics over the next decade, which signifies a considerable movement toward the dual diagnostic and therapeutic use of procedures.
In the US, forecasts project that between 70 and 280 multidisciplinary oncology centers will be created to administer FDA-approved radiopharmaceutical therapies, indicating the necessity for specialized imaging systems in these centers. These centers are spending aggressively on PET/CT and SPECT/CT systems compatible with new radiotracers to facilitate patient stratification, dosimetry, and response monitoring in real time as it relates to precision oncology protocols.
Moreover, the tangible advance of theranostic applications can be observed through the uptake of therapies, such as ^177Lu-PSMA-617 and ^177Lu-DOTATATE, which are now commercialized and available in several areas. These therapies require careful patient selection and dosimetry; therefore, there is a requirement for high-quality imaging to go alongside high-end post-processing software to assess radiotracer uptake and delivered dose.
While oncology centers invest in nuclear medicine with large outlays of capital for scanners, automated synthesizers, and AI-enhanced imaging systems, capital equipment vendors report rapid increases in orders and upgrade cycles.
This significant association between clinical practice and the capabilities of imaging and treatment systems is a promising indicator that theranostics will sustain market share in nuclear medicine equipment.
RESTRAINT: High cost of nuclear medicine equipment and imaging procedures
The capital-intensive purchase and reimbursement of nuclear medicine equipment and imaging procedures pose significant barriers to market growth due to the need for initial investment by healthcare providers. For example, a new generation PET/CT scanner costs USD 1.5 to 2 million, and even premium machines can reach upwards of USD 3 million.
Used systems or lower-cost entry models are still expensive, often costing USD 225,000-700,000, plus infrastructure costs (installation, shielding, scanner access, and facility improvements). As such, nuclear medicine is expensive to offset for many sites, especially in areas or countries locally bound by budget restrictions or developing status.
Moreover, the costs of routine imaging procedures need to be managed. For example, a PET/CT scan in tier-1 hospitals in India averages ~USD 150 (?6,000) in government facilities, while in private hospitals, patients are charged between ~USD 375-675 (?15,000-27,000).
In Western countries, PET scans are billed to patients at USD 1,500-5,000 per scan. A tertiary nuclear medicine site may perform around 30 scans each day, resulting in >USD 1 million in imaging costs incurred annually, and 75% of that cost will be attributed to equipment.
The high costs of imaging have a negative impact on pricing transparency and frequency, particularly in regions without strong insurance or public funding frameworks.
OPPORTUNITY: Integration of AI and data analytics in imaging workflows
The integration of Artificial Intelligence (AI) in nuclear medicine imaging provides a significant opportunity to improve diagnostic accuracy, streamline workflows, and provide personalized treatment planning. AI algorithms are being integrated into PET/CT and SPECT/CT systems, allowing for automated lesion detection, image reconstruction, and dosimetry, resulting in faster scans and more accurate images.
Manufacturers such as GE HealthCare and Siemens Healthineers have developed AI-enabled platforms to assist with radiomic analysis and therapy response tracking and monitoring, especially in theranostic treatment approaches for ^177Lu-PSMA. Not only are these tools beneficial in terms of improving clinical outcomes, but they can also help alleviate staffing shortages and operational inefficiencies.
The FDA has begun to approve AI-enabled tools in nuclear medicine, and AI will become an integral part of future-ready imaging environments.
CHALLENGES: Stringent regulatory approval processes for equipment and radiopharmaceuticals
One of the major challenges in the nuclear medicine equipment market is the stringent regional regulatory approval processes for both imaging systems and radiopharmaceuticals. Manufacturers must adhere to rigorous safety, performance, and radiation standards required by agencies such as the FDA, EMA, and various national nuclear regulatory bodies, often resulting in prolonged approval timelines and costly compliance.
For instance, providing radiotherapeutic agents for neuroendocrine tumors or metastatic bone disease necessitates extensive clinical validation and dosimetry protocols prior to demonstrating regulatory compliance. In the past, organizing a global rollout has been difficult due to differences in regulatory approaches, such as PMA pathways in the US or CE marking in Europe, versus 510(k) or 510(k).
Since emerging economies lack a sophisticated or stable regulatory framework, it is more challenging to quickly introduce advanced nuclear imaging technologies to the market.
Global Nuclear Medicine Equipment Market Ecosystem Analysis
The nuclear medicine equipment market ecosystem comprises a complex network of stakeholders involved in the design, manufacture, distribution, integration, and service of imaging systems with the application of nuclear medicine diagnostics and therapy. This includes the key manufacturers of PET, SPECT, and hybrid imaging systems, along with the suppliers of individual components (detectors, collimators, gantry components, and specialized electronics) directly associated with the imaging systems necessary to achieve high-performance imaging.
Moreover, equipment manufacturers coexist with academic medical centers, research entities, and contract manufacturers that create equipment in a highly regulated market subject to safety and deployment standards.
The ecosystem includes delivery and support partners such as authorized distributors, service providers, IT integrators, and training organizations to ensure smooth deployment and operational continuity in hospitals, cancer treatment centers, and imaging facilities. Radiopharmaceutical suppliers and cyclotron operators are critical to ensuring isotope availability and compatibility with imaging systems.
Regulatory bodies, accreditation agencies, and professional societies, such as SNMMI and EANM, oversee and standardize patient care and clinical accuracy. This ecosystem facilitates the deployment and advancement of nuclear medicine equipment, promoting accurate diagnostics and targeted therapies in global healthcare systems.
Recent Developments of Nuclear Medicine Equipment Market
* In May 2025, Hermes Medical Solutions launched CE-marked tools supporting Selective Internal Radiation Therapy (SIRT) planning, including segmentation for liver and lung lobes, dose optimization, and multimodal image registration. These features facilitate accurate therapy preparation and delivery, with alignment to clinical standards such as 90Y-based treatment planning protocols. * In May 2025, GE HealthCare obtained FDA 510(k) clearance for the Aurora dual-head SPECT/CT system and Clarify DL software. The system integrates functional and anatomical imaging for nuclear medicine, while the software enhances SPECT image reconstruction with deep learning technology. * In December 2024, Siemens Healthineers acquired the molecular imaging business of Advanced Accelerator Applications (AAA), a network of diagnostic radiopharmaceuticals for positron emission tomography (PET) scans manufactured and distributed throughout Europe. This division includes software-integrated capabilities for PET radiopharmaceutical diagnostics, boosting the radiopharmacy supply and imaging infrastructure of Siemens. * In June 2024, Canon Medical Systems and Hermes Medical Solutions entered into a sales agreement to integrate and distribute the vendor-neutral molecular imaging and dosimetry software by Hermes ahead of SNMMI 2024. This increases the software reach of Hermes through the existing sales channels and broadens the molecular imaging offerings of Canon. * In November 2023, Mirion announced the acquisition of ec², a US provider of molecular imaging and nuclear medicine platforms such as Numa and BioDose/NMIS. This move has expanded Mirion Medical’s presence in molecular imaging, radiopharmacy, and facility operations software.
News From
MarketsandMarkets™
Category: Industry Reports & Market Analysis Profile: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, w …
This email address is being protected from spambots. You need JavaScript enabled to view it.
