핵의학 및 PET 시장, 호라이즌 리포트 : 세계 구조, 예측, 경쟁 동향, 테라노스틱스 및 AI/워크플로우 수익화(2025-2036년)

Report Overview

This Marketstrat® Horizon report provides an in-depth global analysis of Nuclear Medicine imaging and the wider PET, SPECT, radiopharmaceutical, theranostics, isotope, software, and provider-capacity ecosystem from 2025A to 2036E. It is written for molecular-imaging OEM executives, radiopharmaceutical companies, isotope and manufacturing suppliers, nuclear-pharmacy and distribution organizations, software and dosimetry platforms, corporate strategy and development teams, investors, providers, and commercial leaders with exposure to Nuclear Medicine.

The report brings equipment systems, the active installed base, replacement and expansion shipments, realized ASPs, service and aftermarket, diagnostic radiopharmaceuticals, therapeutic product curves, medical-isotope and manufacturing readiness, reimbursement, treatment-site capacity, and separately monetized AI and workflow into one reconciled decision model.

Many market studies separate equipment from radiopharmaceuticals, or assume that clinical opportunity converts directly into revenue. This report analyzes both economic pillars of Nuclear Medicine together while keeping the distinct economics of service, software, isotope supply, distribution, reimbursement, and provider operations visible. Its central question: where will value accumulate as Nuclear Medicine shifts from a scanner-centered modality to an integrated diagnostic, therapeutic, supply, workflow, and provider-capacity operating system?

The analysis was developed through Markintel®, Marketstrat's proprietary research methodology and strategic framework stack, combining a bottom-up global market model with regulatory, clinical, reimbursement, company, procurement, manufacturing, and provider-operating evidence.

Key Questions Answered

• How fast does value migrate from equipment toward diagnostic and therapeutic radiopharmaceuticals, and which layers remain control points?
• Which diagnostic categories carry incremental growth as Tc-99m and FDG mature, and how do PSMA, cardiac, and neuro PET differ commercially?
• How quickly do digital PET/CT, long-axial-field-of-view PET, PET/MR, and SPECT/CT reshape the installed base?
• What has to be true for radioligand therapy approvals to become completed, paid treatment courses?
• Which isotope, manufacturing, distribution, and provider-capacity constraints are most likely to limit realized revenue?
• Where can AI, quantification, and dosimetry software earn a separately paid revenue stream?
• How do priorities differ across North America, Europe, China, Japan and South Korea, India, and other emerging regions?

Market Snapshot

Nuclear Medicine is moving from a modality-centered equipment market toward an integrated diagnostic and therapeutic operating system. Radiopharmaceuticals account for most of the market's value and most of its growth. Diagnostics remain the largest revenue layer; therapeutics become the principal growth engine.

Equipment remains the access platform. The fleet becomes more digital, hybrid, and quantitative as digital PET/CT, long-axial-field-of-view PET, PET/MR, and SPECT/CT gain weight, while service, software, and upgrades raise the lifetime value of each installed system.

Growth does not follow one uniform path. Mature Tc-99m and FDG categories retain scale. PSMA, cardiac, neuro, and specialty PET open new product and workflow opportunities. Radioligand therapy expands the therapeutic market but depends on qualified isotope supply, product-specific manufacturing, distribution, reimbursement, licensed staff, treatment rooms, scheduling, and course completion.

North America remains the largest commercial market and Europe retains a large installed and clinical base. China, India, and the rest of Asia-Pacific gain share through different mixes of equipment expansion, local production, public procurement, private oncology investment, and provider development. The report quantifies these paths under Base, Bull, and Bear scenarios.

Key Market Trends

• 1. Theranostics is shifting the market's center of gravity. Radioligand therapy links diagnostic selection, medical isotopes, drug-product manufacturing, distribution, provider activation, dosimetry, and longitudinal follow-up. Commercial advantage increasingly depends on managing the complete pathway.
• 2. Diagnostic radiopharmaceuticals remain the largest revenue pool. Growth inside diagnostics is moving toward cardiac, neuro, PSMA, and specialty PET, while established Tc-99m and FDG pathways continue to support procedure volume, installed equipment, service, and regional radiopharmacy networks.
• 3. Digital PET is changing premium equipment competition. Digital PET/CT expands through replacement, dose efficiency, throughput, and quantitative consistency. Long-axial-field-of-view and total-body PET influence premium competition well before they become large installed-base categories.
• 4. SPECT stays strategically important. SPECT-only systems decline in mix, yet the SPECT fleet remains the largest installed base. SPECT/CT gains relevance through hybrid replacement, cardiology, quantitative imaging, theranostics, and dosimetry.
• 5. Isotope capacity has to be assessed by stage. The report distinguishes announced, constructed, licensed, operating, customer-qualified, allocated, released, delivered, and administered capacity, because only the later stages translate into revenue.
• 6. Provider capacity becomes a binding commercial constraint. Workforce, authorized users, rooms, payer authorization, dose scheduling, radiation safety, and repeat treatment-course commitments determine how many patients a licensed site can actually treat.
• 7. AI monetization concentrates in defined use cases. The strongest paid opportunities sit in oncology quantification, theranostics dosimetry, cardiac and neuro analysis, reporting, trial analytics, and operational coordination. Embedded scanner software is treated separately from vendor-monetized software.
• 8. Regional opportunity is revenue-layer specific. An attractive equipment market may have limited radiopharmaceutical access, and a strong diagnostic market may lack therapy capacity. Country strategy has to reflect registration, reimbursement, local production, distribution, service, workforce, and provider readiness.

Competitive Structure

Marketstrat organizes the market into eight strategic clusters: integrated molecular-imaging OEMs and software stacks; diagnostic radiopharmaceutical franchises; therapeutic radiopharma and theranostics companies; isotope, generator, CDMO, and distribution infrastructure; quantification, dosimetry, and image-enhancement specialists; enterprise workflow, reporting, and orchestration platforms; provider networks, mobile access, and theranostics centers; and life-sciences, trial-imaging, and radiopharma-QC software.

Within each cluster, the report examines the relevant revenue denominator, where commercial control sits, product and technology maturity, installed-base and distribution advantages, isotope and provider dependencies, geographic position, partnership and acquisition logic, execution risks, and signals to monitor over the next 12 to 24 months. Equipment share, diagnostic product share, therapeutic product share, isotope control, software adoption, and provider access are treated as separate competitive measures.

Companies covered include GE HealthCare, Siemens Healthineers, United Imaging Healthcare, Philips, Mediso, Spectrum Dynamics Medical, Lantheus, Telix Pharmaceuticals, Novartis, Eli Lilly / POINT Biopharma, Bristol Myers Squibb / RayzeBio, AstraZeneca / Fusion Pharmaceuticals, ITM / Lumara Bio, Clarity Pharmaceuticals, Perspective Therapeutics, Curium, Bracco / Blue Earth Diagnostics, Jubilant Pharmova, Cardinal Health, Eckert & Ziegler, SHINE Technologies, Nucleus RadioPharma, BWX Technologies, NorthStar Medical Radioisotopes, TerraPower Isotopes, Nusano, AdvanCell, Hermes Medical Solutions, Subtle Medical, AIQ Solutions, Sectra, Visage Imaging / Pro Medicus, LabLogic, and Elysia-Raytest, along with selected regional isotope, radiopharmacy, CDMO, mobile PET, and provider-network operators.

What's Inside

Global market and forecast architecture. Core global market model, 2025A–2036E, built from five additive revenue layers, with Base, Bull, and Bear scenarios, value-migration analysis, forecast triggers, and denominator definitions that prevent double counting.

Equipment, installed base, and service. Legacy and digital SiPM PET/CT, long-axial-field-of-view and total-body PET/CT, PET/MR, SPECT/CT, and SPECT-only systems; active installed base, replacement and expansion shipments, realized ASPs, technology mix, and service and lifecycle value.

Diagnostic and therapeutic radiopharmaceuticals. Tc-99m and established SPECT products, FDG, PSMA PET, SSTR imaging, cardiac PET tracers, amyloid, tau, and other neuro PET, specialty PET, commercial radioligand therapies, and late-stage therapeutic cohorts across Lu-177, Ac-225, Pb-212, Cu-67, Y-90, and I-131 strategies.

Enabling ecosystem and provider capacity. Mo-99 / Tc-99m generators, cyclotrons, medical-isotope supply, CDMO and drug-product manufacturing, radiopharmacy and distribution, reimbursement and coding, provider licensing, workforce and treatment rooms, site activation, and course completion.

Strategic frameworks. The Markintel® framework stack, including the M³ Market Momentum Matrix, M-TEM, T-DIC, Solution Adoption & Growth Matrix, ARC-Index, Upgrade & Package Ladder, GTM Growth-Maturity Matrix, Ecosystem Collaboration Matrix, and a competitive control-plane view.

Competitive, regional, and strategic analysis. Eight competitive clusters, company spotlights, therapeutic pipeline structure, M&A and partnership outlook, regional forecasts, country operating-readiness, commercial archetypes, stakeholder priorities, and a 12–24 month action agenda.

Geographic coverage. North America, Europe, China, Japan and South Korea, India, Rest of Asia-Pacific, Latin America, and the Middle East and Africa, with country-level analysis of the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, South Korea, India, Australia / New Zealand, Brazil, Mexico, Saudi Arabia / UAE, and South Africa.

Who Should Read This Report

• Molecular-imaging OEMs assessing digital PET and SPECT/CT replacement, LAFOV timing, PET/MR positioning, and service attachment
• Diagnostic and therapeutic radiopharmaceutical companies testing category growth, product curves, launch timing, and distribution access
• Isotope producers, CDMOs, and radiopharmacy networks
• AI, dosimetry, and workflow vendors seeking use cases with a credible paid model
• Providers and health systems planning or expanding Nuclear Medicine and theranostics programs
• Corporate strategy and corporate development teams
• Investors, private equity, banks, and advisory firms
• Government and public-sector programs focused on isotope resilience, access, and capacity

Why This Report

Clinical momentum creates the opportunity; product supply, payment, and productive provider capacity decide how much of it becomes revenue. This report separates clinical potential from commercial readiness, so readers can test market denominators, product curves, manufacturing claims, site capacity, competitive control, and scenario risk in one consistent structure.

Use the report to evaluate market-entry assumptions, size adjacent revenue pools, prioritize regions and buyer segments, benchmark competitors, assess partnership and acquisition targets, identify companies that control strategic bottlenecks, or challenge an existing Nuclear Medicine or theranostics forecast.

Report Details

• Title: Global Nuclear Medicine & PET Market Horizon
• Subtitle: Market Structure, Forecasts, Competitive Dynamics, Theranostics, and AI / Workflow Monetization, 2025A–2036E
• Type: Marketstrat® Horizon Report (flagship, in-depth)
• Report ID: MINTH-02103
• Publication: August 2026
• Forecast Period: 2025A–2036E
• Length: 178 pages
• Content: 81 tables and 33 figures, including proprietary strategic frameworks
• Format: PDF digital delivery
• Regional Coverage: North America | Europe | China | Japan and South Korea | India | Rest of Asia-Pacific | Latin America | Middle East and Africa
• Country Coverage: United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, South Korea, India, Australia / New Zealand, Brazil, Mexico, Saudi Arabia / UAE, and South Africa
• License Options: Individual ($4,950), Team ($5,450), Enterprise ($8,950)

Table of Contents

SECTION 1: EXECUTIVE SUMMARY

• 1.1 GLOBAL NUCLEAR MEDICINE MARKET OUTLOOK
• 1.2 CORE MARKET THESIS
• 1.3 MARKET VALUE MIGRATION
• 1.4 CLINICAL AND BUYER STRUCTURE
• 1.5 STRATEGIC FRAMEWORK SYNTHESIS
• 1.6 REGIONAL MARKET OUTLOOK
• 1.7 TECHNOLOGY, THERANOSTICS, AND AI OUTLOOK
• 1.8 COMPETITIVE OUTLOOK
• 1.9 REIMBURSEMENT, SUPPLY, AND PROVIDER CAPACITY OUTLOOK
• 1.10 SCENARIO OUTLOOK
• 1.11 STRATEGIC PRIORITIES
• 1.12 SIGNALS TO WATCH
• 1.13 EXECUTIVE CONCLUSION

SECTION 2: RESEARCH SCOPE, DEFINITIONS, AND METHODOLOGY

• 2.1 SCOPE AND PURPOSE OF THE REPORT
• 2.2 WHAT THIS REPORT IS AND WHAT IT IS NOT
• 2.3 RESEARCH FOUNDATION AND EVIDENCE HIERARCHY
• 2.4 MARKET DEFINITION AND DENOMINATOR ARCHITECTURE
• 2.5 SEGMENTATION SCHEMA AND REPORTING CONVENTIONS
• 2.6 RESEARCH AND MODEL WORKFLOW
• 2.7 EQUIPMENT, INSTALLED BASE, AND SERVICE METHODOLOGY
• 2.8 RADIOPHARMACEUTICAL METHODOLOGY
• 2.9 NARROW AI AND WORKFLOW METHODOLOGY
• 2.10 REGIONAL AND COUNTRY FORECAST METHODOLOGY
• 2.11 COMPETITIVE ANALYSIS AND STRATEGIC FRAMEWORK METHODOLOGY
• 2.12 SCENARIO DESIGN, QA, AND RECONCILIATION
• 2.13 LIMITATIONS AND GUIDANCE FOR INTERPRETATION

SECTION 3: GLOBAL MARKET STRUCTURE, FORECASTS, AND STRATEGIC FRAMEWORKS

• 3.1 SECTION THESIS AND KEY TAKEAWAYS
• 3.2 GLOBAL MARKET OVERVIEW
• 3.3 SCENARIO RANGE
• 3.4 EQUIPMENT SYSTEMS MARKET
• 3.5 INSTALLED BASE AND TECHNOLOGY TRANSITION
• 3.6 SERVICE AND AFTERMARKET
• 3.7 DIAGNOSTIC RADIOPHARMACEUTICALS
• 3.8 THERAPEUTIC RADIOPHARMACEUTICALS
• 3.9 RADIOPHARMA VALUE MIGRATION
• 3.10 NARROW AI AND WORKFLOW MONETIZATION
• 3.11 REGIONAL MARKET STRUCTURE
• 3.12 CLINICAL APPLICATION AND BUYER VIEWS
• 3.13 STRATEGIC FRAMEWORK ARCHITECTURE
• 3.14 M³ MARKET MOMENTUM MATRIX
• 3.15 M-TEM TECHNOLOGY EVOLUTION MATRIX
• 3.16 T-DIC TECHNOLOGY DIFFUSION AND IMPACT CURVE
• 3.17 SOLUTION ADOPTION & GROWTH MATRIX AND ARC-INDEX
• 3.18 UPGRADE & PACKAGE LADDER
• 3.19 COMPETITIVE IMPLICATIONS BY CLUSTER
• 3.20 SECTION TAKEAWAYS

SECTION 4: COMPETITIVE STRUCTURE, COMPANY POSITIONING, AND STRATEGIC CONTROL

• 4.1 EXECUTIVE TAKEAWAYS
• 4.2 COMPETITIVE THESIS: LEADERSHIP IS SHIFTING TOWARD PATHWAY CONTROL
• 4.3 EIGHT-CLUSTER COMPETITIVE ARCHITECTURE
• 4.4 DENOMINATOR-SPECIFIC COMPETITIVE POSITIONS
• 4.5 COMPETITIVE CONTROL PLANE
• 4.6 GTM GROWTH-MATURITY MATRIX
• 4.7 CLUSTER 1: INTEGRATED MOLECULAR-IMAGING OEMS AND SOFTWARE STACKS
  • Cluster Thesis
  • GE HealthCare
  • Siemens Healthineers
  • United Imaging Healthcare
  • Royal Philips
  • Mediso
  • Spectrum Dynamics Medical
• 4.8 CLUSTER 2: DIAGNOSTIC RADIOPHARMACEUTICAL FRANCHISES
  • Cluster Thesis
  • Lantheus
  • Telix Pharmaceuticals
  • GE HealthCare
  • Bracco / Blue Earth Diagnostics
• 4.9 CLUSTER 3: THERAPEUTIC RADIOPHARMA AND THERANOSTICS COMPANIES
  • Cluster Thesis
  • Novartis
  • Eli Lilly / POINT Biopharma
  • Bristol Myers Squibb / RayzeBio
  • AstraZeneca / Fusion Pharmaceuticals
  • ITM / Lumara Bio
  • Clarity Pharmaceuticals
  • Perspective Therapeutics
• 4.10 THERAPEUTIC PIPELINE STRUCTURE
• 4.11 CLUSTER 4: ISOTOPE, GENERATOR, CDMO, AND DISTRIBUTION INFRASTRUCTURE
  • Cluster Thesis
  • Eckert & Ziegler
  • SHINE
  • Cardinal Health
  • Curium
  • Jubilant, Nucleus, and BWXT
• 4.12 CLUSTER 5: QUANTIFICATION, DOSIMETRY, AND IMAGE ENHANCEMENT
  • Cluster Thesis
  • GE HealthCare / MIM
  • Hermes Medical Solutions
  • Subtle Medical
  • Spectrum Dynamics and AIQ Solutions
• 4.13 CLUSTER 6: ENTERPRISE WORKFLOW, REPORTING, AND ORCHESTRATION
• 4.14 CLUSTER 7: PROVIDER NETWORKS, MOBILE ACCESS, AND THERANOSTICS CENTERS
• 4.15 CLUSTER 8: LIFE-SCIENCES, TRIAL-IMAGING, AND RADIOPHARMA-QC SOFTWARE
• 4.16 COMPANY SPOTLIGHT SUMMARY
• 4.17 WINNERS, PRESSURE POINTS, AND STRATEGIC FAULT LINES
  • Likely Winners
  • Pressure Points
• 4.18 M&A AND PARTNERSHIP OUTLOOK
• 4.19 STRATEGIC IMPLICATIONS BY STAKEHOLDER
• 4.20 SIGNALS TO MONITOR
• 4.21 SECTION CONCLUSION

SECTION 5: REGIONAL AND COUNTRY MARKET ANALYSIS

• 5.1 EXECUTIVE TAKEAWAYS
• 5.2 REGIONAL MARKET OVERVIEW
• 5.3 REGIONAL VALUE MIX AND SCENARIO EXPOSURE
• 5.4 NORTH AMERICA
  • 5.4.1 United States
  • 5.4.2 Canada
• 5.5 EUROPE
  • 5.5.1 Germany
  • 5.5.2 France
  • 5.5.3 United Kingdom
  • 5.5.4 Italy
  • 5.5.5 Spain
• 5.6 CHINA
• 5.7 JAPAN AND SOUTH KOREA
  • 5.7.1 Japan
  • 5.7.2 South Korea
• 5.8 INDIA
• 5.9 REST OF ASIA-PACIFIC
  • 5.9.1 Australia and New Zealand
  • 5.9.2 Singapore, Taiwan, and Southeast Asia
• 5.10 LATIN AMERICA
  • 5.10.1 Brazil
  • 5.10.2 Mexico
• 5.11 MIDDLE EAST AND AFRICA
  • 5.11.1 Gulf Cooperation Council
  • 5.11.2 South Africa
  • 5.11.3 North Africa and Rest of Africa
• 5.12 SELECTED COUNTRY DEMAND AND OPERATING CONTEXT
• 5.13 COUNTRY OPERATING-READINESS VIEW
• 5.14 REGIONAL COMMERCIAL ARCHETYPES
• 5.15 STRATEGIC IMPLICATIONS
• 5.16 SIGNALS TO MONITOR
• 5.17 SECTION CONCLUSION

SECTION 6: REIMBURSEMENT, RADIOISOTOPE SUPPLY, MANUFACTURING, AND PROVIDER CAPACITY

• 6.1 EXECUTIVE TAKEAWAYS
• 6.2 MARKET THESIS: COMMERCIAL CAPACITY IS A CHAIN
• 6.3 REIMBURSEMENT ARCHITECTURE
  • 6.3.1 United States Diagnostic Payment
  • 6.3.2 Therapeutic Payment and Site Economics
  • 6.3.3 Global Payment Archetypes
• 6.4 DIAGNOSTIC RADIOPHARMACEUTICAL SUPPLY
• 6.5 THERAPEUTIC ISOTOPE AND MANUFACTURING ARCHITECTURE
• 6.6 CAPACITY CONVERSION AND MANUFACTURING STATUS
• 6.7 PROVIDER OPERATING CAPACITY AND WORKFORCE
  • 6.7.1 Workforce
  • 6.7.2 Treatment-Course Burden
  • 6.7.3 Site Maturity
• 6.8 THE CAPACITY-CONTROL STACK
• 6.9 PROVIDER ARCHETYPES
• 6.10 PROVIDER ECONOMICS AND CAPITAL DECISIONS
• 6.11 WASTE, SAFETY, AND QUALITY
• 6.12 REGIONAL IMPLICATIONS
• 6.13 STRATEGIC IMPLICATIONS BY STAKEHOLDER
• 6.14 SIGNALS TO MONITOR
• 6.15 SECTION CONCLUSION

SECTION 7: SCENARIO OUTLOOK, STRATEGIC PRIORITIES, AND ACTION AGENDA

• 7.1 EXECUTIVE TAKEAWAYS
• 7.2 SCENARIO FRAMEWORK AND GUARDRAILS
• 7.3 GLOBAL SCENARIO RANGE
• 7.4 BASE CASE
• 7.5 BULL CASE
• 7.6 BEAR CASE
• 7.7 SCENARIO SENSITIVITY BY REVENUE LAYER
• 7.8 PRODUCT, TECHNOLOGY, AND USE-CASE SENSITIVITY
• 7.9 REGIONAL SCENARIO EXPOSURE
• 7.10 PRINCIPAL SCENARIO DRIVERS
• 7.11 LEADING INDICATORS AND FORECAST TRIGGERS
• 7.12 RISK AND OPPORTUNITY MATRIX
• 7.13 STRATEGIC PRIORITIES BY STAKEHOLDER
• 7.14 12-24 MONTH ACTION AGENDA
• 7.15 STRATEGIC OUTLOOK