The Radiopharmaceutical Market in the U.S. and Europe is set for robust expansion. Across North America and Europe, the combined market is projected to reach USD 25 billion by 2033, growing at an 8%+ CAGR between 2025 and 2034, fueled by diagnostics, therapeutics, and strategic investments 

The United States leads regionally, with theranostic approaches  diagnosing and treating via a single modality  driving adoption of Lutetium‑177 and Gallium‑68 therapies. By 2024, US-based Best Cyclotron Systems had committed to deploying 10–15 advanced cyclotrons annually across global hubs

In Europe, especially in France and Germany, the theranostic market is advancing rapidly. Lu‑177 tracer demand is projected to reach US $411 million by 2028, growing at ~11.8% CAGR  with PET tracers capturing nearly half the segment .

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 Key Market Drivers

1. Theranostics Revolution
   The merging of diagnostics and therapeutic radioligands  such as Lutetium‑177 RLT  enables targeted oncology treatment plans. The US and EU are at the forefront of this trend 

2. AI Integration
   AI tools streamline PET/SPECT scan quality, dosing accuracy, drug discovery, and image interpretation  enhancing patient safety and clinic efficiency 

3. Enhanced Isotope Infrastructure
   With cyclotron deployment scaling up, domestic production of Mo‑99, Lu‑177, Ac‑225, and F‑18 isotopes is strengthening supply chain resilience 

4. High R&D & Industry Investment
   Novartis' Pluvicto generated nearly USD 1 B in 9 months during 2024. Big-pharma acquisitions  Eli Lilly ($10 M cell for Ac‑225), BMS acquisition of RayzeBio ($4.1 B)  highlight growth 

5. Regulatory Streamlining
   Authorities are creating faster approval pathways for radiotheranostics, promoting innovation, safety, and clinical implementation 

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 Regional Highlights

 United States

• Radiopharma market benefits from strong infrastructure and high cancer incidence  US nuclear medicine procedures grow ~10% annually
  
  

• Theranostic giants like Novartis continue to lead, while supply-chain investments by Eli Lilly strengthen isotope access 

 Europe

• Major advances are underway in PET tracer production and Lu‑177 therapy; Germany and France lead investments and infrastructure expansion 

• Regulatory alignment across the EU is accelerating research, manufacturing, and clinical uptake .
  
  

 Market Segmentation

• Diagnostic Agents dominate: SPECT (Technetium-99m) holds ~67% share, while PET (F‑18 FDG and novel tracers) is fastest-growing (CAGR >10%) 

• Therapeutic Radioligands (Lutetium‑177, Actinium‑225) are key growth engines in cancer treatments 

• Production Tech: Shift favors domestic cyclotron-building and reactor-less systems  reducing supply insecurity and logistical delays 

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 Strategic Opportunities

1. Invest in Cyclotron Networks
   Partner with manufacturers like Best Cyclotron to deploy modular systems across U.S. and European medical centers.
   
   

2. AI-Enhanced Discovery & Workflow
   Integrate AI for drug discovery and operational optimization; collaborate with companies like Subtle Medical 

3. Secure Isotope Supply Chains
   Invest in Ac‑225 and Mo‑99 production; extend partnerships with Ionetix, ANSTO, and EU isotope facilities 

4. Expand Lu‑177 & Alpha Therapies
   Co-develop new theranostic pairs (e.g., 68Ga‑DOTA‑RM2) via acquisitions or biotech licensing deals 

5. Tailor EU Regulatory Pathways
   Early engagement with EMA and EU regulatory bodies to accelerate approval of next-gen agents .
   
   

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 Conclusion

The Radiopharmaceutical Market in the U.S. and Europe is entering a period of unprecedented growth  projected to surpass USD 25 billion by 2033, backed by technology-led theranostics, AI-enabled workflows, and robust isotope manufacturing. With strategic investment in infrastructure, supply chain security, and dual diagnostic-therapeutic products, stakeholders can lead the future of precision oncology and nuclear medicine.