Market Trends of United States Nuclear Imaging Industry
This section covers the major market trends shaping the US Nuclear Imaging Market according to our research experts:
Equipment Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The country's equipment market is expanding primarily as a result of expanding research and technological advancement, increased physician and clinical researcher understanding of the advantages of nuclear imaging, and a rise in the demand for high-tech medical services for quick and accurate diagnosis. According to the National Oncology PET Registry, around 84% of more than 1,600 PET facilities in the United States have PET/CT equipment. The same source estimates that there are roughly 1.5 million PET procedures performed annually in the United States. Hospitals and other end users are being encouraged by equipment developments to install cutting-edge technology-based gadgets, which is driving the segment's expansion nationally.
United Imaging announced in July 2020 that the HYPER Iterative feature for their uMI 550 digital positron emission tomography (PET)/computed tomography (CT) scanner has received FDA clearance. The company announced the addition of artificial intelligence technologies into important radiology systems with HYPER Deep Learning Reconstruction in the regular PET/CT workflow of its uMI 550 and uMI 780 digital PET/CT systems to improve image quality. The company is continuing to focus on artificial intelligence. At the Society of Nuclear Medicine and Molecular Imaging's annual meeting in July 2020, Canon Medical displayed its molecular imaging portfolio, including the Cartesion Prime digital PET/CT and the Celesteion PureViSION Edition PET/CT system (SNMMI).
The number of these instruments being installed around the nation is rising as a result of increasing launches and rising awareness. Furthermore, more than 20 million nuclear medical operations are performed annually in the United States, according to World Nuclear Association 2020. Additionally, it's estimated that 90% of procedures are done for diagnosis. As a result, the aforementioned performers effectively portray the nation's expanding nuclear imaging trend, supporting the segment's expansion.
