South Korea Nuclear Medicine Market Size & Outlook
South Korea nuclear medicine market, 2018-2030 (US$M)
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South Korea nuclear medicine market highlights
- The South Korea nuclear medicine market generated a revenue of USD 161.7 million in 2023 and is expected to reach USD 296.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.1% 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 161.7 million |
| Market revenue in 2030 | USD 296.7 million |
| Growth rate | 9.1% (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, South Korea accounted for 1.6% 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 |
|---|
South Korea 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 78.73% in 2023. Horizon Databook has segmented the South Korea nuclear medicine market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
Currently, South Korea imports Mo-99 from Russia, South Africa, and Australia to meet the needs of consumers. The demand for nuclear medicines in the country is expected to increase steadily over the forecast period. In line with this, in 2012, the Korean government launched a new research project Kijang Research Reactor (KJRR) to produce Mo-99, Ir-192, I-131, and other medical radioisotopes.
Furthermore, in May 2019, South Korea approved the construction of a radioactive isotope research reactor in Gijang, South Korea. It is expected to be completed by 2024. According to the Ministry of Science and ICT and the Nuclear Safety and Security Commission, the government funded 439 billion Won (373 USD million) for this project.
In addition, increasing number of initiatives undertaken by key players is expected to propel market growth. For instance, in July 2018, GE Healthcare installed its 400th cyclotron PET trace 880 at the Korea Institute of Radiological & Medical Sciences (KIRAMS). Until July 2018, a total of 43 cyclotrons were installed at healthcare centers across 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 South Korea nuclear medicine market , including forecasts for subscribers. This country databook contains high-level insights into South Korea nuclear medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea nuclear medicine market size, by product, 2018-2030 (US$M)
South Korea Nuclear Medicine Market Outlook Share, 2023 & 2030 (US$M)
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