India Nuclear Medicine Market Size & Outlook, 2023-2030
India nuclear medicine market, 2018-2030 (US$M)
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India nuclear medicine market highlights
- The India nuclear medicine market generated a revenue of USD 179.8 million in 2023 and is expected to reach USD 402.4 million by 2030.
- The India market is expected to grow at a CAGR of 12.2% from 2024 to 2030.
- In terms of segment, diagnostics was the largest revenue generating product in 2023.
- Therapeutics is the most lucrative product segment registering the fastest growth during the forecast period.
Nuclear medicine market data book summary
| Market revenue in 2023 | USD 179.8 million |
| Market revenue in 2030 | USD 402.4 million |
| Growth rate | 12.2% (CAGR from 2023 to 2030) |
| Largest segment | Diagnostics |
| Fastest growing segment | Therapeutics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostics, Therapeutics |
| Key market players worldwide | GE HealthCare Technologies Inc Common Stock, Jubilant Pharmova, Nordion, Bracco, Iren SpA, Abliva AB, Lantheus Holdings Inc, Eckert & Ziegler Bebig SA, Mallinckrodt PLC Ordinary Shares - New, Cardinal Health Inc |
Other key industry trends
- In terms of revenue, India accounted for 1.8% of the global nuclear medicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan nuclear medicine market is projected to lead the regional market in terms of revenue in 2030.
- Singapore is the fastest growing regional market in Asia Pacific and is projected to reach USD 187.5 million by 2030.
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Nuclear Medicine Market Scope
Nuclear Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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India nuclear medicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to nuclear medicine market will help companies and investors design strategic landscapes.
Diagnostics was the largest segment with a revenue share of 82.98% in 2023. Horizon Databook has segmented the India nuclear medicine market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
The nuclear medicine market in India is expected to grow at a significant rate during the forecast period. The country has facilities to introduce larger number of radioisotopes for the treatment of cancer. For instance, in 2019, the country’s biggest cyclotron facility, Cyclone-30, started operating in Kolkata and exporting Germanium-68 and Palladium-103 worldwide.
Toshiba Medical Systems operating through Erbis Engineering; and Mallinckrodt, Inc. operating through Tyco Healthcare India Pvt. Ltd. supply radioisotopes in the country. It has been observed that PET scans are mostly used in the diagnosis of cancer and cardiac & urological diseases, while SPECT scans are mainly used in cardiology, as well as in oncology and general diagnostic procedures.
There are more than 200 PET-CT scans in India. Governments of various states, such as Gujarat, Jammu & Kashmir, and Punjab, are also procuring PET and SPECT scanners to increase access to nuclear diagnostic procedures. These states are subsidizing the cost of radioisotopes and are expected to provide tax benefits to companies that are looking to set up nuclear pharmacies in the country.
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Our clientele includes a mix of nuclear medicine market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the India nuclear medicine market , including forecasts for subscribers. This country databook contains high-level insights into India nuclear medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India nuclear medicine market size, by product, 2018-2030 (US$M)
India Nuclear Medicine Market Outlook Share, 2023 & 2030 (US$M)
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