1. Market Research
  2. > Healthcare Market Trends
North America Nuclear Medicine Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

North America Nuclear Medicine Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

  • February 2021
  • 91 pages
  • ID: 6030455
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The North America nuclear medicine market was valued at USD 5,624 million in 2020 and is projected to be worth USD 10,273 million by 2026 registering a CAGR of 10.4%, over the forecast period 2021-2026.

Several general principles have been implemented by government organizations with key goals to reduce disease transmission, preserve healthcare system functioning, protect healthcare workers, and ultimately reduce mortality and morbidity. A new set of regulations for the protection of the staff in the imaging centers and other nuclear facilities were rolled out. In 2020, the United States Food and Drug Administration (US FDA), has developed guidelines to assist nuclear medicine departments to change operating procedures to reduce the risk of COVID-19 infection among patients, staff, and the public. The guidelines also address the possible shortage of critical thinking radiopharmaceuticals due to air traffic restrictions.

According to Jason J. Naidich’s article ‘Impact of the Coronavirus Disease 2019 (COVID-19) Pandemic on Imaging Case Volumes’, published in May 2020, total imaging volume in the first half of 2020, declined by 12.29% compared with 2019 in New York. Post-COVID-19 emergence revealed a greater decrease (28.10%) in imaging volumes across all patient service locations and modality types. This suggests the nuclear imaging with other imaging techniques had a decrease effecting the market size and trend.

North America Nuclear Imaging Market expected to witness significant growth owing to the technological advancements, rising burden of diseases, and adoption of nuclear medicine in therapeutics as well as diagnostics.

Government initiatives and funding for the development of new techniques are estimated to drive the nuclear medicine market. For instance, In July 2019, a new bill named Medicare Diagnostic Radiopharmaceutical Payment Equity Act of 2019 passed by the government of U.S. The new bill aims to extend access to high-targeted, and more precise treatment and diagnosis of severe neurological diseases, by changing the way of medicare payments for imaging services.

The growing funding for research and developments in the Canada also boost the market growth. For instance, in May 2020, ARTMS Products, a Vancouver based startup raised CAD 26.4 million Series A funding which helps in research and production of radiopharmaceuticals

The technological advancements in the field of imaging have boosted the market growth. Over recent years, scientists, researchers, and technologists have been able to bring hybrid systems in clinical practice, in which two or even more than two standalone diagnostic imaging modalities are combined. There are many technological advancements, like the introduction of time of flight (ToF) and the increasing popularity of hybrid imaging systems, which play an important role in the growth of the market studied.

However, high cost of the diagnostic and therapeutic equipment and procedures have been acting as restraints to the growth of the market studied.

Key Market Trends
Oncology is Expected to Hold the Significant Market Share in the Application Segment

The contagious coronavirus is having a potential economic impact and implications on most of the sectors which also includes the oncology segment. The pandemic has certainly hindered diagnosis and surgeries, and thus, likely to have a negative impact on the segment studied. For instance, as per the survey conducted by Breastcancer.org in 2020, in 534 patients, 31.7% of people who had been diagnosed with breast cancer reported a delay in care; of these people, 22% reported that they had a delay in screening and 9.3% reported a delay in treatment due to COVID-19 in the United States. As a result, more cases of advanced cancers are expected in the upcoming future, due to delayed diagnosis and other issues, such as preventative screening and postponed medical appointments, in coming years.

The rising prevalence of cancers and hospitalized cases linked to oncological diseases are driving the demand for imaging modalities and the use of contrast media. According to the GLOBOCAN in 2020, there were an estimated 2.75 million new cancer cases and around 789,296 deaths due to cancer were reported in North America in 2020.

Furthermore, continuous research is being conducted to determine the use of radioisotopes in the diagnosis of various cancers. The increasing product launches are also boosting the segment growth. For instance, in October, 2020, announced a USD 45 million Series A financing to advance the development of its broad pipeline of targeted radiopharmaceuticals for cancer therapeutics. The increasing funding for cancer nuclear medicine boost the segment growth.

In September, 2020 RadioMedix Inc. and Curium launched the Detectnet a positron emission tomography (PET) agent indicated for the localization of somatostatin receptor positive neuroendocrine tumors (NETs) in adult patients, in the united States. This is likely to fuel the segmental growth over forecast period.

Competitive Landscape
The North America Nuclear Medicine Market is highly competitive and consists of several major players, along with a number of smaller companies. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by introducing new technologies at affordable prices. The major regional players in the market studied include Siemens Healthineers AG, GE Healthcare (GE Company), Cardinal Health, Sotera Health (Nordion Inc.), and Curium Pharma among others.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Intraoperative Imaging Market by Product, Application, Enduser - Forecasts to 2025

  • $ 4950
  • February 2021
  • 160 pages

The global intraoperative imaging market size is projected to reach USD 2.5 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 5.2%. Factors such as the technological advancements in the market ...

  • World
  • Europe
  • Medical Device
  • Healthcare
  • Industry analysis
  • Medical Technology Density
  • Health Expenditure

Global Contrast Media Industry $ 5450 April 2021


ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on