Market Overview

Global Iodine-131 market was valued at USD 1,859.21 thousand in 2023 and is projected to reach USD 2,578.25 thousand by 2030, growing at a CAGR of 5.06% from 2024 to 2030.

North America is expected to grow from USD 653.88 thousand in 2023 to USD 891.04 thousand by 2030, with a CAGR of 4.78%.

Asia-Pacific market is projected to grow from USD 477.07 thousand in 2023 to USD 677.56 thousand by 2030, at a CAGR of 5.46%.

Iodine-131 (I-131) is a radioactive isotope extensively used in nuclear medicine, particularly in diagnosing and treating thyroid-related disorders such as hyperthyroidism and thyroid cancer. Produced in nuclear reactors, I-131 emits radiation as it decays and is known for its targeted therapeutic effects.

Top Companies in Iodine-131 Market

• Jubilant DraxImage

• NTP

• IRE - IRE ELiT

• Isotope JSC

• Nordion

• POLATOM

In 2023, the top three companies held approximately 61.93% of total market revenue, highlighting a consolidated market landscape.

Market Segmentation

By Type

• Solution

• Capsule

By Application

• Medical Use

• Industrial Use

Production by Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

Consumption by Region

• North America (U.S., Canada)

• Asia-Pacific (China, Japan, South Korea, Southeast Asia, India)

• Europe (Germany, France, U.K., Italy, Russia, Rest of Europe)

• Latin America (Mexico, Brazil, Rest of Latin America)

• Middle East & Africa (Turkey, GCC Countries)

Market Drivers

• Rising Incidence of Thyroid Disorders
  The global rise in thyroid-related illnesses is driving the demand for Iodine-131 in both diagnostic imaging and therapeutic treatments.
• Advancements in Nuclear Medicine
  Technological advancements like PET/CT and SPECT/CT have improved precision, increasing the adoption of I-131.
• Increased Adoption of Targeted Therapy
  I-131 provides targeted treatment by selectively accumulating in thyroid tissues, reducing side effects and enhancing efficacy.
• Growing Geriatric Population
  The aging global population, more susceptible to thyroid conditions, contributes significantly to rising demand.
• Government Support and Healthcare Investments
  Investments in healthcare infrastructure and supportive policies for cancer treatment further propel market expansion.
• Expanding Role in Non-Thyroid Applications
  New research is uncovering I-131’s potential in treating non-thyroid cancers, widening the application base.

Market Restraints

• Strict Regulatory Frameworks
  Handling radioactive materials involves navigating stringent international and regional safety regulations.
• Short Half-Life of Iodine-131
  With a half-life of only 8 days, logistical and distribution challenges limit availability in remote regions.
• High Production Costs
  Sophisticated equipment and safety protocols increase production costs, affecting affordability.
• Side Effects and Health Risks
  Though effective, I-131 may cause nausea, fatigue, and radiation exposure risks, reducing patient preference in certain cases.
• Competition from Alternative Therapies
  Non-radioactive treatments like molecular and immunotherapy present competition in specific indications.

Market Opportunities

• Rising Demand in Emerging Markets
  Asia-Pacific, Latin America, and Africa are witnessing growth in healthcare infrastructure and nuclear medicine facilities.
• Development of Advanced Radioisotope Production Techniques
  Enhanced production methods improve supply consistency and reduce operational costs.
• Integration of AI in Nuclear Medicine
  AI is improving diagnostic accuracy and personalizing treatment plans, boosting clinical outcomes with I-131.
• Expansion into Veterinary Medicine
  Growing usage in veterinary oncology for conditions like feline hyperthyroidism adds a new growth avenue.
• Collaborations Between Academia and Industry
  Joint R&D initiatives drive innovation, leading to new formulations and expanded applications.
• Focus on Sustainable Practices
  Efforts toward eco-friendly production and waste management systems increase sustainability and market attractiveness.

Market Challenges

• Global Supply Chain Disruptions
  Reliance on specialized production facilities makes the market vulnerable to supply shocks from geopolitical issues or natural disasters.
• Lack of Infrastructure in Developing Regions
  Many regions lack necessary infrastructure like radiopharmacies and nuclear reactors to utilize I-131 efficiently.
• Radiation Safety Concerns
  Public perception and professional safety concerns surrounding radiation use may limit adoption.
• Competition from Other Isotopes
  Alternatives like Lutetium-177 and Yttrium-90 are gaining attention for certain cancers, diverting market share.
• Complex Licensing and Compliance Processes
  Navigating global compliance standards and obtaining licenses can be time-consuming and resource-intensive, delaying market expansion.

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