Actinium-225 Market (2026-2036)
The global Actinium-225 Market was valued at USD 62.0 million in 2025. This market is expected to reach USD 1,203.3 million by 2036 from an estimated USD 84.0 million in 2026, registering a CAGR of 30.5% during the forecast period (2026-2036).
- Published
- Sep 2026
- Pages
- 350
- Format
- PDF + Excel
- Report ID
- MR-2180
- Base year
- 2025
- 2024 · HISTORICAL
- $2.40B
- 2036
- $1.20B
- CAGR 2026–2036
- 30.5%
2024–2025 baseline · 2026–2036 forecast at 30.5% CAGR · hover a bar for the value
Key highlights
The global Actinium-225 Market is projected to grow from USD 84.0 million in 2026 to USD 1, 203.3 million by 2036, as targeted alpha therapies move from clinical trials to commercial use.
North America is expected to account for the largest market share in 2026, while Europe is projected to register the fastest growth during the forecast period.
Production capacity is scaling rapidly. TerraPower Isotopes, which began producing Ac-225 at commercial scale through weekly production runs in October 2024, plans to increase its production 20-fold by opening a new manufacturing facility in Philadelphia, expected to begin production in 2029, and expanding its Everett, Washington, facility.
By production method, Thorium-229 Decay is expected to account for the largest market share, whereas Electron Accelerator/Photonuclear production is projected to witness the fastest growth through 2036.
Demand is outpacing expectations. In May 2026, TerraPower Isotopes and PanTera, supported by the Institut des Radioéléments, expanded their collaboration to add Ac-225 production capacity in Belgium, with PanTera stating that client demand for cGMP-compliant Ac-225 is outpacing projections.
Pharmaceutical buyers are multi-sourcing. Between 2022 and 2024, Bayer entered Ac-225 supply agreements with BWXT, Ionetix, NorthStar, and PanTera, and Cellectar Biosciences signed agreements with NorthStar, ITM, Nusano, and Ionetix in 2024 and 2025, reflecting the strategic importance of secure isotope supply.
Report summary
| Particulars | Details |
|---|---|
| Forecast Period | 2026-2036 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| CAGR (Value) | 30.5% |
| Format | PDF, Excel & Cloud Portal · 350 pages |
| Market Size (Value) in 2026 | USD 84.0 Million |
| Market Size (Value) in 2036 | USD 1,203.3 Million |
| Segments Covered | By Production Method: Thorium-229 Decay, High-Energy Proton Spallation, Cyclotron Radium-226, Electron Accelerator/Photonuclear, Reactor-Based. · By Product Grade: Research Grade, cGMP Clinical Grade, Commercial Grade. · By Product Form: Purified Ac-225 Solution, Ac-225/Bi-213 Generators. · By Application: Prostate Cancer, Neuroendocrine Tumors, Hematologic Malignancies, Other Solid Tumors. · By Targeting Vector: Peptides & Small Molecules, Antibodies & Antibody Fragments, Others. · By End User: Pharmaceutical & Radiopharmaceutical Companies, CDMOs & Radiopharmacies, Academic & Research Institutes. |
| Countries Covered | North America: U.S., Canada. · Europe: Belgium, Germany, Czech Republic, Netherlands, France, U.K., Rest of Europe. · Asia-Pacific: China, Japan, South Korea, India, Australia, Rest of Asia-Pacific. · Latin America: Brazil, Argentina, Mexico, Rest of Latin America. · Middle East & Africa: South Africa, Saudi Arabia, UAE, Israel, Rest of Middle East & Africa. |
| Key Companies | TerraPower Isotopes, NorthStar Medical Radioisotopes, Eckert & Ziegler, PanTera, Institut des Radioéléments, ITM, Canadian Nuclear Laboratories, BWXT Medical, Ionetix, Nusano, Niowave, QSA Global, U.S. DOE Isotope Program, TRIUMF, and JSC Isotope (Rosatom); demand-side developers include Novartis, Bristol Myers Squibb, AstraZeneca, Bayer, and Eli Lilly. |
Report overview
Segments covered: production method, product grade, product form, application, targeting vector, end user.
The growth of this market is mainly driven by the expanding pipeline of actinium-225-based targeted alpha therapies backed by large pharmaceutical acquisitions, the clinical advantages of alpha-emitting radionuclides, large investments in new production capacity supported by government isotope programs, and the commercial success of radioligand therapy that validates the treatment model. However, the scarcity of feedstock materials, isotopic impurity and quality constraints of some production routes, complex radioactive logistics and regulation, and dependence on regulatory approvals of Ac-225 therapies restrain the growth of this market.
Furthermore, multi-sourced long-term supply agreements with pharmaceutical companies, accelerator-based and distributed production, and the scale-up to cGMP commercial supply are expected to offer growth opportunities for the stakeholders in this market. However, the capital intensity and long lead times of new capacity, management of radioactive daughters and waste, qualification of cGMP supply across multiple sources, and geopolitical and security considerations in the isotope supply chain remain major challenges impacting the growth of this market. Additionally, the diversification of production routes, long-term offtake agreements and vertical integration by drug developers, the build-out of European production capacity, and the transition from clinical to commercial-scale supply are prominent trends in this market.
The Actinium-225 Market comprises the production and supply of actinium-225, an alpha-emitting radioisotope with a half-life of about 9.9 days, for use as the active radionuclide in targeted alpha therapies, radiopharmaceuticals that attach Ac-225 to a targeting molecule, such as a peptide, small molecule, or antibody, to deliver radiation selectively to cancer cells. The market covers Ac-225 produced by the decay of thorium-229, by high-energy proton spallation of thorium-232, by cyclotron irradiation of radium-226, by electron accelerator and photonuclear reactions on radium-226, and by reactor-based routes; Ac-225 of research, cGMP clinical, and commercial grade; and product forms including purified Ac-225 solutions and Ac-225/bismuth-213 generators. Applications include prostate cancer, neuroendocrine tumors, hematologic malignancies, and other solid tumors. Market value is measured at the sale of Ac-225 isotope and associated supply services; revenue from finished Ac-225 radiopharmaceuticals is analyzed but excluded. The ecosystem spans isotope producers, national laboratories, feedstock suppliers, accelerator and reactor operators, radiopharmaceutical developers, contract manufacturers and radiopharmacies, hospitals, and regulators.
Ac-225 is considered one of the most promising isotopes for targeted alpha therapy because its decay chain releases four alpha particles, which deposit very high energy over a range of only a few cell diameters, causing double-strand DNA breaks that are difficult for cancer cells to repair while limiting damage to surrounding healthy tissue. Its 9.9-day half-life allows centralized production and global shipping. Large pharmaceutical companies have invested heavily in Ac-225 therapies: AstraZeneca acquired Fusion Pharmaceuticals for USD 2.4 billion in 2024, Bristol Myers Squibb acquired RayzeBio for about USD 4.1 billion in 2024, Eli Lilly acquired Point Biopharma for USD 1.4 billion, and Bayer and Novartis are developing Ac-225 programs. As of mid-2026, several Ac-225 therapies were in late-stage trials, but none had yet received FDA approval.
Supply has historically been the market's main constraint. For years, most Ac-225 came from small stocks of thorium-229 derived from uranium-233 held by national laboratories and from Russian sources, providing only limited quantities. The U.S. Department of Energy has expanded supply: its contractor Isotek extracted more than 15 grams of thorium-229 from uranium-233 stockpiles through the Thorium Express Project by May 2025, supplying TerraPower Isotopes, and Oak Ridge and two other national laboratories have used accelerators to produce Ac-225 from thorium-232, though this material contains actinium-227 impurities. TerraPower Isotopes began commercial-scale weekly Ac-225 production in October 2024 and announced in March 2026 a new Philadelphia facility, expected to begin production in 2029, to increase output 20-fold.
New production routes and producers are diversifying supply. NorthStar Medical Radioisotopes uses electron accelerator technology to produce Ac-225 from radium-226, having calculated that it would otherwise need 10 to 15 cyclotrons to meet its supply needs, and reported routine commercial-scale production in January 2026. Eckert & Ziegler has scaled cyclotron production with the Nuclear Physics Institute of the Czech Academy of Sciences, ITM and Canadian Nuclear Laboratories formed a joint venture for industrial-scale production in 2023, and in May 2026 TerraPower Isotopes and PanTera, with the Institut des Radioéléments, expanded Belgian production across sites in Mol and Fleurus. Drug developers have secured multiple suppliers, as Bayer did with BWXT, Ionetix, NorthStar, and PanTera between 2022 and 2024.
Market dynamics
19 factors across 5 forcesExpanding Pipeline of Targeted Alpha Therapies Backed by Pharmaceutical Acquisitions
The expanding pipeline of Ac-225-based targeted alpha therapies, backed by large pharmaceutical acquisitions, is the most important factor driving the Actinium-225 Market. Major companies have acquired radiopharmaceutical developers to gain Ac-225 programs: AstraZeneca acquired Fusion Pharmaceuticals for USD 2.4 billion in 2024, gaining Ac-225 candidates including a PSMA-targeted therapy for prostate cancer; Bristol Myers Squibb acquired RayzeBio for about USD 4.1 billion in 2024, gaining an Ac-225 somatostatin receptor-targeted therapy for neuroendocrine tumors in Phase 3 development; and Eli Lilly acquired Point Biopharma for USD 1.4 billion. Bayer, Novartis, and numerous biotechnology companies, including Actinium Pharmaceuticals, Cellectar Biosciences, Ariceum Therapeutics, and GlyTherix, are developing Ac-225 therapies across prostate, neuroendocrine, blood, and other cancers. Each clinical program requires a reliable supply of cGMP Ac-225, and approvals would convert clinical demand into much larger commercial demand.
Clinical Advantages of Alpha-Emitting Radionuclides
The clinical advantages of alpha-emitting radionuclides are significantly increasing interest in Ac-225. Compared with beta emitters such as lutetium-177, which is used in approved radioligand therapies, alpha particles deliver far higher linear energy transfer over a range of only about 50 to 100 micrometers, a few cell diameters, causing complex double-strand DNA breaks that are lethal to cancer cells, including those resistant to beta radiation or chemotherapy. Ac-225's decay chain releases four alpha particles per decay, amplifying its potency, and its half-life of about 9.9 days is long enough for manufacturing, shipping, and dosing while short enough to limit long-term radiation exposure. Clinical studies of Ac-225 PSMA-targeted therapy have shown responses in patients with prostate cancer who progressed after lutetium-177 therapy, supporting the development of Ac-225 therapies as next-generation radioligand treatments.
Investments in New Production Capacity and Government Isotope Programs
Large investments in new production capacity, supported by government isotope programs, are expanding the supply that underpins market growth. The U.S. Department of Energy's Thorium Express Project enabled Isotek to extract more than 15 grams of thorium-229 from uranium-233 stockpiles by May 2025, supplying TerraPower Isotopes, which began commercial-scale weekly Ac-225 production in October 2024 and plans a 20-fold increase in production through a new Philadelphia facility expected to begin production in 2029 and an expanded Everett laboratory. In May 2026, TerraPower Isotopes, PanTera, and the Institut des Radioéléments expanded Ac-225 production capacity in Belgium, and NorthStar reported routine commercial-scale Ac-225 production using electron accelerators in January 2026. These investments are expected to increase Ac-225 availability by orders of magnitude over the forecast period.
Commercial Success of Radioligand Therapy
The commercial success of radioligand therapy validates the treatment model for Ac-225. Novartis' lutetium-177-based radioligand therapies, Lutathera for neuroendocrine tumors and Pluvicto for PSMA-positive metastatic castration-resistant prostate cancer, have established the clinical, logistical, and reimbursement infrastructure for radiopharmaceutical treatment, including radiopharmaceutical manufacturing networks, nuclear medicine treatment centers, and trained staff, and Pluvicto has become a multibillion-dollar product. Ac-225 therapies targeting the same receptors, such as PSMA and somatostatin receptors, can use this infrastructure, and pharmaceutical companies see Ac-225 as a way to extend and improve radioligand therapy, as reflected in AstraZeneca's USD 2.4 billion Fusion acquisition and Bristol Myers Squibb's USD 4.1 billion RayzeBio acquisition in 2024.
Table of contents
14 chapters · 159 sections · 350 pages · click to expandSegmental analysis
| Segment | Largest share (2026) | Fastest growth (2026–2036) |
|---|---|---|
| By Production Method | Thorium-229 Decay | Electron Accelerator/Photonuclear |
| By Product Grade | CGMP Clinical Grade | Commercial Grade |
| By Application | Prostate Cancer | Neuroendocrine Tumors |
| By Targeting Vector | Peptides & Small Molecules | Antibodies & Antibody Fragments |
| By End User | Pharmaceutical & Radiopharmaceutical Companies | CDMOs & Radiopharmacies |
By Production Method
- The Thorium-229 Decay segment is expected to account for the largest share of the market.
- The large share of this segment is mainly due to TerraPower Isotopes' commercial-scale weekly production since October 2024, supported by more than 15 grams of thorium-229 extracted by Isotek.
- However, the Electron Accelerator/Photonuclear segment is projected to register the highest CAGR during the forecast period.
- The rapid growth of this segment is attributed to NorthStar's commercial-scale production from January 2026 and the scalability of accelerator-based routes.
By Product Grade
- The cGMP Clinical Grade segment is expected to account for the largest share of the market.
- The large share of this segment is mainly due to demand from numerous Ac-225 therapies in clinical trials, including late-stage programs acquired by AstraZeneca and Bristol Myers Squibb in 2024.
- However, the Commercial Grade segment is projected to register the highest CAGR during the forecast period.
- The rapid growth of this segment is attributed to the expected approval of the first Ac-225 therapies and long-term commercial supply agreements.
By Application
- The Prostate Cancer segment is expected to account for the largest share of the market.
- The large share of this segment is mainly due to the number of PSMA-targeted Ac-225 programs, including those acquired by AstraZeneca in its USD 2.4 billion Fusion acquisition.
- However, the Neuroendocrine Tumors segment is projected to register the highest CAGR during the forecast period.
- The rapid growth of this segment is attributed to late-stage somatostatin receptor-targeted Ac-225 therapies, such as the program Bristol Myers Squibb acquired with RayzeBio for about USD 4.1 billion.
By Targeting Vector
- The Peptides & Small Molecules segment is expected to account for the largest share of the market.
- The large share of this segment is mainly due to PSMA- and somatostatin receptor-targeted ligands that build on the success of lutetium-177 therapies.
- However, the Antibodies & Antibody Fragments segment is projected to register the highest CAGR during the forecast period.
- The rapid growth of this segment is attributed to Ac-225 antibody conjugates for hematologic malignancies and solid tumors, whose longer circulation times match Ac-225's 9.9-day half-life.
By End User
- The Pharmaceutical & Radiopharmaceutical Companies segment is expected to account for the largest share of the market.
- The large share of this segment is mainly due to supply agreements such as Bayer's with four producers between 2022 and 2024.
- However, the CDMOs & Radiopharmacies segment is projected to register the highest CAGR during the forecast period.
- The rapid growth of this segment is attributed to outsourced radiolabeling and distribution networks needed for commercial Ac-225 therapies.
Geographic analysis
North America
Largest shareIn 2026, North America is expected to account for the largest share of the global Actinium-225 Market. The region's dominance is supported by national laboratory isotope capabilities, leading commercial producers, and a dense base of radiopharmaceutical developers. The U.S. Department of Energy's Thorium Express Project enabled Isotek to extract more than 15 grams of thorium-229 by May 2025, and Oak Ridge and two other national laboratories have produced Ac-225 by accelerator, while TerraPower Isotopes produces Ac-225 in Everett, Washington, and plans a Philadelphia facility for 2029, and NorthStar, Ionetix, Nusano, and Niowave are scaling accelerator-based production. Canada hosts BWXT Medical, Canadian Nuclear Laboratories, which formed a joint venture with ITM in 2023, and TRIUMF, and North American drug developers include Bristol Myers Squibb, Eli Lilly, and Actinium Pharmaceuticals. North America
Europe
Fastest growthHowever, Europe is projected to register the highest CAGR during the forecast period. The rapid growth of this region is attributed to new production capacity and a strong radiopharmaceutical industry. In May 2026, TerraPower Isotopes and PanTera, with the Institut des Radioéléments, expanded Ac-225 production in Belgium across sites in Mol and Fleurus, Germany's Eckert & Ziegler scaled cyclotron production with the Nuclear Physics Institute of the Czech Academy of Sciences, and Germany's ITM is producing Ac-225 through its joint venture with Canadian Nuclear Laboratories. European drug developers, including Bayer, Novartis, AstraZeneca, and Ariceum Therapeutics, are major buyers of Ac-225. Europe
Asia-Pacific
Asia-Pacific is expected to register strong growth. China, Japan, South Korea, India, and Australia are developing radiopharmaceutical industries and national isotope capabilities, including research reactors and accelerators operated by national nuclear agencies such as Australia's ANSTO and India's Bhabha Atomic Research Centre, and Chinese and Japanese institutions are developing domestic Ac-225 production. Clinical use of Ac-225 PSMA therapy in countries across the region and growing cancer burdens, with the International Agency for Research on Cancer estimating about 20 million new cancer cases worldwide in 2022, support demand for Ac-225 supply. Australia's ANSTO operates the OPAL research reactor, in service since 2007, which supplies medical isotopes across the region, and growing experience with Ac-225 PSMA therapy among nuclear medicine centers in India and elsewhere in the region, at doses of around 100 kilobecquerels per kilogram per cycle, is building clinical demand ahead of commercial approvals. Asia-Pacific
Latin America
Latin America is expected to account for a smaller share of the market. Brazil and Argentina have established nuclear medicine and radioisotope production capabilities through national institutions, including Brazil's Nuclear and Energy Research Institute and Argentina's National Atomic Energy Commission, which produce radiopharmaceuticals for regional use, and interest in targeted alpha therapy is growing among nuclear medicine centers. As Ac-225 therapies are approved and supply expands from the U.S., Europe, and Canada, where TerraPower Isotopes plans a 20-fold production increase by 2029, access in the region is expected to grow. Because Ac-225 decays by about 7% per day, long-distance shipments from producers in North America and Europe to Latin American treatment centers require carefully scheduled logistics, favoring regional radiopharmacy partnerships as demand grows. Latin America
Middle East & Africa
The Middle East & Africa is expected to register steady growth. South Africa is a major global producer of medical isotopes through the South African Nuclear Energy Corporation and its subsidiary NTP Radioisotopes, and iThemba LABS operates cyclotrons for isotope production, positioning the country to participate in Ac-225 supply. Gulf countries such as Saudi Arabia and the UAE are investing in radioligand therapy centers and nuclear medicine, and Israel has advanced nuclear medicine capabilities, supporting future demand for Ac-225 therapies as approvals occur. Clinicians at Steve Biko Academic Hospital and the University of Pretoria in South Africa were among the pioneers of Ac-225 PSMA therapy for advanced prostate cancer, generating some of the earliest clinical experience worldwide, and the region's isotope expertise positions it to contribute to both clinical development and supply as capacity expands through 2036. Middle East & Africa
Competitive landscape
The global Actinium-225 Market includes commercial isotope producers using thorium-229 decay, radium-226 cyclotron, electron accelerator, and other routes, national laboratories and government isotope programs, feedstock suppliers, and radiopharmaceutical developers that increasingly invest in or contract for supply. Competition centers on production capacity and scalability, isotopic purity, cGMP compliance and regulatory filings, reliability and redundancy of supply, cost, and long-term relationships with drug developers.
Leading producers are building new facilities, qualifying cGMP processes and Drug Master Files, signing multi-year supply agreements, and expanding into new regions, as illustrated by TerraPower Isotopes' planned 20-fold expansion by 2029, the May 2026 expansion of PanTera's Belgian production with IRE, and NorthStar's commercial-scale production from January 2026.
The report provides a comprehensive competitive assessment of the leading companies operating in the global Actinium-225 Market. The key players profiled in the report include TerraPower Isotopes (U.S.), NorthStar Medical Radioisotopes, LLC (U.S.), Eckert & Ziegler SE (Germany), PanTera (Belgium), Institut des Radioéléments (Belgium), ITM Isotope Technologies Munich SE (Germany), Canadian Nuclear Laboratories (Canada), BWXT Medical Ltd. (Canada), Ionetix Corporation (U.S.), Nusano, Inc. (U.S.), Niowave, Inc. (U.S.), QSA Global, Inc. (U.S.), U.S. Department of Energy Isotope Program (U.S.), TRIUMF (Canada), and JSC Isotope (Rosatom) (Russia), with profiles of key demand-side radiopharmaceutical developers including Novartis AG (Switzerland), Bristol Myers Squibb Company (RayzeBio) (U.S.), AstraZeneca PLC (Fusion Pharmaceuticals) (U.K.), Bayer AG (Germany), and Eli Lilly and Company (Point Biopharma) (U.S.).
- Novartis
- Bristol Myers Squibb
- AstraZeneca
- Bayer
- Eli Lilly
Expert perspectives
Actinium-225 is one of the most strategically important isotopes in modern oncology, with pharmaceutical companies investing billions of dollars in Ac-225 therapies, including AstraZeneca's USD 2.4 billion Fusion acquisition and Bristol Myers Squibb's USD 4.1 billion RayzeBio acquisition. Supply, long the binding constraint, is now scaling, with TerraPower Isotopes planning a 20-fold increase by 2029, NorthStar at commercial scale since January 2026, and new Belgian capacity from PanTera and IRE announced in May 2026.
Three structural changes are expected to shape the market through 2036. First, supply will shift from a few legacy sources to a diversified base of decay, cyclotron, and electron accelerator routes in North America and Europe. Second, the first approvals of Ac-225 therapies will convert clinical demand into commercial demand, increasing volumes by orders of magnitude. Third, supply will be secured through long-term offtake agreements and investments by drug developers, while prices per unit decline as capacity grows.
For companies planning entry or expansion, the most attractive positions over the forecast period are likely to be found in scalable accelerator-based production, cGMP commercial-grade supply with Drug Master Files, feedstock recovery and radium-226 processing, radiolabeling and radiopharmacy services, and long-term supply partnerships with drug developers. The principal risks are feedstock limits, approval timing, capital intensity, and regulatory and logistical complexity.
Customer perspectives
Insights gathered during primary interviews with radiopharmaceutical developers, isotope producers, nuclear medicine physicians, and radiopharmacy operators highlight where priorities are shifting. The following perspectives reflect recurring themes raised across these discussions.
“This reflects multi-sourcing as a requirement for commercial Ac-225 therapies.”
“This indicates strong demand growth alongside capital and feedstock constraints.”
“This points to clinical demand waiting on supply and approvals.”
Frequently asked questions
The global Actinium-225 Market is estimated at USD 84.0 million in 2026, based on sales of Ac-225 isotope and associated supply services.
Cite this report
Meticulous Research. (2026). Actinium-225 Market - Global Opportunity Analysis and Industry Forecast (2026-2036) (Report No. MR-2180). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/actinium-225-market-6863