PUBLISHER: Acute Market Reports | PRODUCT CODE: 1225591
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1225591
Single-Photon Emission Computed Tomography (SPECT) Market size was valued at apporx. USD 2 Billion in 2022 and is growing at a CAGR of 6.5% from 2023 to 2031.
Single photon emission computed tomography (SPECT) is a form of non-invasive nuclear medicine tomographic imaging technique that utilizes gamma rays to provide 3D information of body organs (inside view). This system uses a radioactive substance and a special camera to create 3-D pictures which display the blood flow to tissues & organs thereby assisting doctors to diagnose or monitor brain disorders, bone disorders, and heart problems. The SPECT scan integrates two technologies: computed tomography (CT) and a radioactive material (tracer).
Rising prevalence of cancer, neurological diseases, and cardiovascular diseases
Worldwide growing geriatric population coupled with rising prevalence of chronic diseases are majorly driving the demand for SPECT systems. Furthermore, technological developments in SPECT systems, development of new radiotracers, increasing investments for the advancement of diagnostic imaging centers and increasing awareness among people about the technology is expected to assist in the market growth.
On the contrary, factors such as a requirement of massive capital, the presence of alternatives like scintigraphy & positron emission tomography (PET), high operation costs, and an immature reimbursement structure are anticipated to limit the utilization of SPECT technique over the forecast period.
The standalone SPECT systems are gaining traction worldwide thereby expected to exhibit favorable market growth during the forecast period. Based on application, the oncology segment is expected to dominate the market over the next nine years owing to growing prevalence of cancer across the world. Comparatively higher adoption or utilization of SPECT technique in hospitals shall put the hospitals segment at the dominant position.
North America is likely to hold a large chunk of the market due to the presence of major market participants & sophisticated healthcare infrastructure and comparatively higher adoption of advanced nuclear medicine tomographic imaging techniques in the U.S. and Canada. Asia Pacific to witness fastest market growth in the near future attributed to growing aging population along with a surge in the incidence of chronic diseases, rising awareness about technique, and increasing healthcare spending in China, India, and Japan.
Key players identified in the global single photon emission computed tomography market include:
GE Healthcare
Philips Healthcare
Siemens Healthineers
Digirad Corporation
Bruker Corporation
NuCare Inc.
PNPMed
SurgicEye GmbH
DDD-Diagnostic A/S
Mediso Ltd
General Electric Co.
Mediso Ltd.
MiE GmbH
MILabs BV
Spectrum Dynamics Medical Inc.
CardiArc
Beijing Hamamatsu Photon Techniques Inc.
SHENZHEN BASDA
MEDICAL APPARATUS CO., LTD.
Toshiba Medical (Canon)
Esaote, Invicro
LambdaSpect
MR Solutions
TriFoil Imaging
Key Developments
In November 2021, GE Healthcare announced its acquisition of Prismatic Sensors AB, a Swedish start-up specializing in photon counting detectors, signifying the company's continued investment in photon counting CT technology.
In May 2022, Mediso Ltd announced the acquisition of Bartec Technologies Ltd, UK based company specializing in the supply, installation, and support of Nuclear Medicine and Molecular Imaging equipment and accessories.
March 2022- GE Healthcare plans to strengthen its portfolio with two pipeline radiopharmaceuticals, individual for Positron Emission Tomography (PET) and another for Single-Photon Release Calculated Tomography imaging. The company recently proclaimed the first patient medicated in Phase III clinical trial for a PET radiopharmaceutical imaging go-between which aims to assist in the assessment of adult patients with supposed Parkinsonian syndromes, provision research, and improve patient maintenance.
November 2021- GE Healthcare proclaimed its acquisition of Prismatic Sensors AB, a Swedish start-up concentrating in photon including detectors, suggesting the company's continued asset in photon counting CT knowledge. This knowledge has the possibility to significantly increase scientific performance for oncology, cardiology, neurology, and numerous other clinical CT claims
Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Single Photon Emission Computed Tomography (SPECT) market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Single Photon Emission Computed Tomography (SPECT) market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Product Type,
Hybrid SPECT Systems
Standalone SPECT Systems
Application,
Oncology
Cardiology
Neurology
End User,
Hospitals
Diagnostic Imaging Centers
Academic & Research Centers
Others
Region Segment (2021-2031; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of Covid-19 Segment (2021-2022; US$ Million )
Pre Covid-19 situation
Post Covid-19 situation
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Single Photon Emission Computed Tomography (SPECT) market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2031.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Single Photon Emission Computed Tomography (SPECT) market?
Which is the largest regional market for Single Photon Emission Computed Tomography (SPECT) market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Single Photon Emission Computed Tomography (SPECT) market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Single Photon Emission Computed Tomography (SPECT) market worldwide?