Top 10 Companies in Iodine-131 Market: Growth Outlook, Innovation Trends, and Forecast 2025–2031

 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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