Global Oncology Radiopharmaceuticals Market Size, Share, and COVID-19 Impact Analysis, Russia-Ukraine War Impact, Tariff Analysis, By Test Type (Radium-223 dichloride, Sodium iodide I-131, Lobenguane iodide- 131, Lutetium-177, Yttrium-90, Fludeoxyglucose F 18, Gallium Citrate, and Technetium-99m), By Route of Administration (Oral and Treatment), By Application (Diagnosis and Treatment), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Oncology Radiopharmaceuticals Market Summary, Size & Emerging Trends

According to Spherical Insights, The Global Oncology Radiopharmaceuticals Market Size is Expected to grow from USD 4.05 Billion in 2024 to USD 7.25 Billion by 2035, at a CAGR of 5.44% during the forecast period 2025-2035. An increasing demand for efficient diagnostic and therapeutic options, with the growing cancer patient population, is a key growth driver for the global oncology radiopharmaceuticals market.

Key Market Insights

• North America is expected to account for the largest share in the Oncology Radiopharmaceuticals market during the forecast period.
• In terms of test type, the technetium-99m test segment is projected to lead the oncology radiopharmaceuticals market in terms of test type throughout the forecast period
• In terms of route of administration, the oral segment captured the largest portion of the market
• In terms of application, the diagnosis segment is leading the oncology radiopharmaceuticals market during the projected timeframe.

Global Market Forecast and Revenue Outlook

• 2024 Market Size: USD 4.05 Billion
• 2035 Projected Market Size: USD 7.25 Billion
• CAGR (2025-2035): 5.44%
• North America: Largest market in 2024
• Asia Pacific: Fastest growing market

Oncology Radiopharmaceuticals Market

The oncology radiopharmaceuticals market is the industry of pharmaceuticals focusing on the production of radioactive drugs for diagnosing and treating cancer. Radiopharmaceutical therapy is a precision medicine approach involving the targeted delivery of radioactive atoms to tumor cells, a breakthrough strategy for cancer treatment. The therapy involves the targeted radiation delivery to tumor cells or the tumor microenvironment using a radioactive drug. Other therapeutic techniques, like immunotherapy or chemotherapy integrated with radiopharmaceuticals, are improving patient outcomes. Increasing advancements in nuclear medicine, along with favourable reimbursement policies and technological advancements, are supporting the oncology radiopharmaceuticals market.

Oncology Radiopharmaceuticals Market Trends

• Adoption of personalized medicine and theranostics (combination of diagnosis and treatment capabilities)
• Emergence of alpha-particle emitting radiopharmaceuticals for highly targeted and potent cancer treatment
• Strategic collaborations for research and development
• Development of targeted radioligand therapies and demand for advanced diagnostic imaging
• Technological advancements in the radiopharmaceutical industry are revolutionizing production and clinical applications

Oncology Radiopharmaceuticals Market Dynamics

Driving Factors: Increasing demand for efficient diagnostic and therapeutic options, with the growing cancer patient population, is driving growth in the oncology radiopharmaceuticals market

The growth of the oncology radiopharmaceuticals market is driven by increasing demand for efficient diagnostic and therapeutic options with an increasing cancer prevalence. Diagnostic radiopharmaceuticals have improved therapeutic outcomes in targeted radionuclide therapy. Theranostic-based radiopharmaceuticals aid in advancing precision medicine. Radiopharmaceuticals aid in delivering targeted radiation therapy directly to the cancer cells, with reduced damage to healthy tissues.

Restrain Factors: The oncology radiopharmaceuticals market faces challenges due to the lack of infrastructure and stringent regulatory requirements

The radiopharmaceuticals have increased production costs due to the strict regulatory requirements of equipment such as cyclotrons. The limited availability of expertise and infrastructure, especially in the developing regions, is hampering the market growth of oncology radiopharmaceuticals.

Opportunities and Challenges: Growing focus on early disease detection and personalized treatment is creating new opportunities in the oncology radiopharmaceuticals market

With an increasing investment, transformative research endeavors, and robust development in the radiopharmaceutical domain, early disease detection and personalized treatment approaches are escalating market growth opportunities. Increased competition, regulatory hurdles, and economic factors remain challenging factors in the market.

Global Oncology Radiopharmaceuticals Market Ecosystem Analysis

The Global Oncology Radiopharmaceuticals Market ecosystem includes key stakeholders such as pharmaceutical & nuclear medicine companies, research institutions, healthcare providers, and regulatory bodies. Key technologies involve PET and SPECT imaging for diagnosis and treatment planning, and theranostic agents that combine diagnostic & therapeutic properties. Market growth is driven by demand for efficient diagnostic and therapeutic options, with the growing cancer patient population, while high costs and technical expertise requirements remain challenges. Opportunities lie in the increasing focus on early disease detection and personalized treatment.

Global Oncology Radiopharmaceuticals Market, By Test Type

The technetium-99m segment led the oncology radiopharmaceuticals market, generating a significant revenue share. This dominance can be attributed to the increasing prevalence of chronic diseases and technological advancements. Technetium-99m is a radioactive tracer that is used in combination with special chemical agents for visualizing the tumor locations or metastatic disease.

The sodium iodide I-131 segment in the oncology radiopharmaceuticals market is expected to grow at a significant CAGR over the forecast period, driven by its efficiency for treating thyroid cancer. Sodium iodide is used for managing and treating hyperthyroidism and thyroid carcinoma, produced by irradiating Xe-124 to yield a high-specific activity.  

Global Oncology Radiopharmaceuticals Market, By Route of Administration

The oral segment held the largest market share in the oncology radiopharmaceuticals market, due to the patients' increasing adoption and treatment compliance. Radiopharmaceuticals are usually administered in capsule or liquid form for both diagnostic and therapeutic purposes, often in combination with radioactive iodine 131, for treating conditions such as thyroid disorders.

The intravenous segment in the oncology radiopharmaceuticals market is projected to register a significant CAGR, driven by the availability of various intravenously administered radiopharmaceuticals, broadening the range of available treatments. The intravenous route of administration is the fastest and most efficient way of delivering radiopharmaceuticals to the bloodstream for distribution throughout the body.

Global Oncology Radiopharmaceuticals Market, By Application

The diagnosis segment held the largest share of the oncology radiopharmaceuticals market, due to widespread use of radioisotopes like technetium-99m that can be attached to several specific molecules. Radiopharmaceuticals enable accurate and timely cancer detection with improved resolution and provision of functional and metabolic information.

The treatment segment is anticipated to grow at a significant CAGR during the forecast period. This is attributed to the use of targeted radioisotopes for delivering radiation directly to cancer cells.

North America is expected to account for the largest share of the oncology radiopharmaceuticals market during the forecast period, driven by the increasing prevalence of cancer, cardiovascular diseases, and neurological disorders. An increasing investment by the government bodies and local manufacturers for R&D activities and healthcare development significantly contributes to driving the oncology radiopharmaceuticals market.

The United States is experiencing steady growth in the oncology radiopharmaceuticals market, fueled by the availability of sophisticated and technologically advanced healthcare industry. Further, an increasing number of cancer-related patients and preference for advanced and non-invasive diagnostic procedures contribute to propelling the market.

Asia Pacific is expected to grow at the fastest CAGR in the oncology radiopharmaceuticals market during the forecast period. This rapid growth is driven by the increasing demand for advanced diagnostic and therapeutic solutions. With the increasing advancements in healthcare infrastructure, the development of technologies like PET/CT and SPECT systems for facilitating better diagnostic capabilities aids in propelling market growth.

Japan is rapidly expanding in the oncology radiopharmaceuticals market, due to the government’s increasing emphasis on healthcare technology and services. Further, the heightened need for diagnostic and therapeutic radiopharmaceuticals owing to the growing chronic disease prevalence is escalating the market demand.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the oncology radiopharmaceuticals market, along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

WORLDWIDE TOP KEY PLAYERS IN THE ONCOLOGY RADIOPHARMACEUTICALS MARKET INCLUDE

• Siemens Healthcare GmbH
• Novartis AG
• Curium
• GE Healthcare
• Lantheus Medical Imaging, Inc.
• International Isotopes, Inc.
• Nordion
• Eckert & Zieger
• Acrotech Biopharma
• Blue Earth Diagnostics
• Zionexa
• Bayer AG
• Jubilant Pharma Limited
• Cardinal Health
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Collaborations and Strategic Acquisitions in the Oncology Radiopharmaceuticals Market

• In April 2025, Bayer announced the initiation of a Phase I clinical trial with Ac-GPC3 (BAY 3547926), an investigational targeted alpha radiopharmaceutical being developed to treat tumors expressing Glypican-3 (GPC3) in patients with advanced hepatocellular carcinoma (HCC).
• In October 2024, ITM Isotope Technologies Munich SE (ITM), the Technical University of Munich (TUM), and the TUM University Hospital (Klinikum rechts der Isar der Technischen Universität or MRI), announced a new framework agreement for the research and development of innovative radiopharmaceuticals and radionuclides for the treatment of cancer.
• In May 2024, Mariana Oncology, a fully integrated biotechnology company pioneering a new era of radiopharmaceutical innovation to treat people with cancer, announced it would be acquired by Novartis for $1 billion upfront and up $750 million in potential milestone payments.
• In February 2024, UT Health Science Center researchers partnered on a multi-institutional $20 million award to develop new radiopharmaceutical cancer therapies.
• In January 2024, ITM Isotope technologies Munich SE (ITM), and Alpha-9 Oncology (Alpha-9), announced the signing of a global master clinical supply agreement to support the development of Alpha-9’s Radiopharmaceutical Therapy (RPT) pipeline candidates for the treatment of cancer. Under the agreement, ITM would supply its medical radioisotope, non-carrier-added Lutetium-177 (n.c.a. 177Lu) for Alpha-9’s Lutetium-based candidates.
• In October 2023, Eli Lilly and Company and POINT Biopharma Global, Inc. announced a definitive agreement for Lilly to acquire POINT, a radiopharmaceutical company with a pipeline of clinical and preclinical-stage radioligand therapies in development for the treatment of cancer.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the oncology radiopharmaceuticals market based on the below-mentioned segments: 

Global Oncology Radiopharmaceuticals Market, By Test Type

• Radium-223 dichloride
• Sodium iodide I-131
• Lobenguane iodide- 131
• Lutetium-177
• Yttrium-90
• Fludeoxyglucose F 18
• Gallium Citrate
• Technetium-99m

Global Oncology Radiopharmaceuticals Market, By Route of Administration  

• Oral
• Intravenous

Global Oncology Radiopharmaceuticals Market, By Application

• Diagnosis
• Treatment

Global Oncology Radiopharmaceuticals Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa