China Medical News

Nuclear medicine, formally known as radiopharmaceuticals, is used for disease diagnosis, treatment, or medical research, and is revolutionizing the way diseases are diagnosed and treated, The global nuclear medicine market is projected to grow from $12.6 billion in 2023 to $21 billion by the end of 2029, with a compound annual growth rate of 8.29%. Domestic innovation in nuclear medicine started later than overseas, primarily due to challenges in the development of medical imaging equipment such as SPECT/PET, insufficient local adoption rates, and a shortage of domestic isotope supply.

To address these challenges, policy measures have taken the lead. The 14th Five-Year Plan for the Development of the Medical Equipment Industry and the Medium- and Long-Term Development Plan for Medical Isotopes (2021–2035) have been successively introduced. All parties in the upstream industrial chain have also taken active steps. United Imaging Healthcare has overcome key technological hurdles and promoted the popularization of PET equipment. By 2023, the number of PET devices in China reached 722, an 80.8% increase compared with 2019.

Currently, 205 innovative nuclear drug pipelines are in the clinical stage in China, with multiple listed companies investing in innovative nuclear medicine. Grand Pharma, for example, has established a global R&D and production base. In the first half of 2025, its nuclear medicine segment revenue reached HKD 420 million, a year-on-year increase of 106%. Baheal Pharma Group's Tc-99m RGD peptide injection has completed Phase III clinical trials. Other companies, such as Fosun Pharma and Guangzhou Pharmaceutical Holdings, have also entered the field. (Source: China Economic Net.)