North America Nuclear Imaging Market Size (2024 - 2029)

North America Nuclear Imaging Market Analysis

The North America Nuclear Imaging Market size is estimated at USD 3.77 billion in 2024, and is expected to reach USD 4.54 billion by 2029, growing at a CAGR of 3.83% during the forecast period (2024-2029).

• The market is expected to grow with technological advancements, increasing diagnostic applications in various diseases, such as cancer and cardiovascular diseases, and increasing government support. The prevalence of chronic diseases is on the rise in the North American region, which is expected to create more demand for nuclear imaging. For instance, according to data published by the Canadian Cancer Society in May 2022, it was estimated that over 30,000 individuals in Canada would be diagnosed with lung and bronchus cancer. This represented an increase of 13% in the cases of lung and bronchus cancer from 2021 to 2022. It was also estimated that over 20,700 lives would be claimed by the disease in 2022. 
• The high prevalence of such chronic diseases has created a huge demand for nuclear imaging diagnosis for the management of diseases in the region. For instance, data published in the Canadian Medical Imaging Inventory Service Report in January 2022 mentioned that demand for PET-CT services has been rising in Canada. The report stated that there is a need for more PET systems. It was mentioned that in Canada, there were 1.5 PET units per million population. The country ranked 16th out of 25 in the list of the volume of PET-CT exams, with over 3.3 scans per 1,000 population. Thus, the vast patient base and the increasing demand for nuclear imaging are expected to create more growth opportunities in the North American region.
• The strategic activities by the market players such as introduction of advanced equipment in market is expected boost the market growth over the forecast period. For instance, in November 2023, Positron Corporation has secured a significant new customer in Pennsylvania's cardiovascular sector. The client will be leveraging Positron's cutting-edge Attrius PET System and accompanying services. The installation of the Attrius system is scheduled to align with the facility's radiopharmaceutical timeline.
• Additionally, in October 2022, GE Healthcare launched its Omni Legend, which is a first-of-its-kind all-digital PET-CT system. The system is equipped with cutting-edge system features such as digital BGO (dBGO) detector material, and it offers high efficiency and improved diagnostics for precision medicines. Similarly, in November 2023, IONETIX, a Cardiac PET services and isotope manufacturing company expanded its partnership with the Center for Imaging and Research of America (CIRA) in Sarasota, United States. Under the partnership, IONETIX launched the new PET/CT imaging facility, which utilizes N-13 Ammonia, which is manufactured by IONETIX itself.
• Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, the regulatory issues and lack of reimbursement are likely to impede market growth.

North America Nuclear Imaging Industry Segmentation

Nuclear medicine imaging procedures are non-invasive, apart from intravenous injections, and are usually painless medical tests that help physicians diagnose and evaluate medical conditions. These imaging scans use radioactive materials called radiopharmaceuticals or radiotracers. These radiopharmaceuticals are used in diagnosis and therapeutics. They are small substances that contain a radioactive substance that is used in the treatment of cancer and cardiac and neurological disorders.

The North America nuclear imaging market is segmented by product, application and geography. By product, the market is segmented as equipment and radioisotope. By application the market is segmented as SPECT applications and PET applications. The market is segmented by geography as the United States, Canada, and Mexico. The report offers the value (in USD) for the above segments.