United States Nuclear Imaging Market Size

US Nuclear Imaging Market Analysis

The United States Nuclear Imaging Market size is estimated at USD 3.08 billion in 2024, and is expected to reach USD 3.74 billion by 2029, growing at a CAGR of 3.94% during the forecast period (2024-2029).

The pandemic had an adverse effect on the market growth in the United States. Due to COVID-19 in the country, most radioiodine treatments were delayed, and all the conventional nuclear imaging studies FDG PET scans were canceled. The number of nuclear studies, nuclear cardiac imaging, and oncology PET/CT decreased in March and April 2020 as a result of the rise in COVID-19 cases and deaths, according to the article "The Impact of COVID-19 on Nuclear Medicine Operations Including Cardiovascular Manifestations in the USA" published in ScienceDirect Journal in June 2021. (CDC). These studies and procedures increased from June 2020 to February 2021 as the COVID-19 instances decreased throughout the country. As the accuracy of COVID-19 testing was improved, more successful vaccination drives against COVID-19 were made, and as a result, there was a decline in new cases in many regions across the country, Society of Nuclear Medicine and Molecular Imaging (SNMMI) issued a statement in September 2020 and March 2021 notifying resume ventilation studies on a case-by-case basis electively diagnosing lung disease, including vascular and airway disease. The nuclear imaging market has been influenced by COVID-19 because there have been delays in clinical research, cancellations of various surgeries and imaging procedures, an increase in teleradiology, and a number of staff-related restrictions. Thus, the market is expected to grow in the future.

In the United States, the burden of chronic diseases is increasing, and medical imaging technologies are essential to the precise detection of chronic diseases like cancer. Another aspect of market expansion is the quantity of brain-related injuries. Cancer incidence is anticipated to propel market expansion. For instance, in 2020, around 2,281,658 new cases of cancer were reported in the United States, according to GLOBOCAN 2020. According to the National Brain Tumor Society, there will be around 85,000 new cases of brain tumors in the United States in 2020, with 700,000 Americans already living with one. The growing prevalence of chronic diseases and the aging population in the United States are providing market participants with enormous potential, which is fueling the industry's expansion. The big players are engaged in a variety of strategic activities. These include product launches, collaborations, partnerships, mergers, and acquisitions. For instance, in June 2021, Persona RF PREMIUM was introduced in the US by FUJIFILM Medical Systems U.S.A., Inc. For hospitals and healthcare facilities of all sizes, the Persona RF PREMIUM is a cutting-edge radiography and fluoroscopy system that offers real-time imaging for the skeletal, digestive, urinary, respiratory, and reproductive systems as well as individual organs like the heart, lung, and kidneys. Similarly, in June 2021, The FDA has granted Canon Medical's digital PET/CT system in the United States of America clearance for its AI-based image reconstruction technology.

However, the lack of proper reimbursement and stringent regulatory approval procedures, and the high cost of equipment, are expected to impede the market growth in the United States.