DUBLIN, Aug. 26, 2022 /PRNewswire/ -- The "Single Photon Emission Computed Tomography (SPECT) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Single Photon Emission Computed Tomography (SPECT) Market to Reach $2.5 Billion by 2026
Amid the COVID-19 crisis, the global market for Single Photon Emission Computed Tomography (SPECT) estimated at US$1.9 Billion in the year 2022, is projected to reach a revised size of US$2.5 Billion by 2026, growing at a CAGR of 6.8% over the analysis period.
Lately, enhancing the diagnostic capability of various equipment in organic-specific or dual-modality systems has become very essential, which is expected to augment the market growth during the forecast period. It is a non-invasive, nuclear medicine based imaging technique that uses gamma rays for providing 2D and 3D information about various internal organs.
Functioning of internal organs can be analyzed with greater assurance and accuracy with SPECT imaging. SPECT can offer 2D and 3D images of organs and additionally show how they work for instance, brain activity and pumping of blood by the heart. The nuclear medicine imaging method employs tracers or radioactive substances called probes and a specialized camera for detecting the radioactivity and for producing images. SPECT scanners can be useful in the diagnosis of strokes, seizures, and Alzheimer`s among other conditions.
Heart related problems like artery blockages, heart attacks and chest pains can also be analyzed with greater precision. SPECT scanners produce 2D as well as 3D images. For higher quality results however, proper calibration of the systems as well as operation are necessary.
Standalone, one of the segments analyzed in the report, is projected to grow at a 6.2% CAGR to reach US$1.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hybrid segment is readjusted to a revised 7.5% CAGR for the next 7-year period.
This segment currently accounts for a 43.8% share of the global Single Photon Emission Computed Tomography (SPECT) market. Standalone systems are the ones that are most used, especially in oncology and cardiology segments. Over the coming years however, uptake of hybrid SPECT systems would be greater than standalone systems.
Hybrid systems offer more advantages including accurate disease staging and early diagnosis. Hybrid systems have also seen higher number of technological advancements in the recent years than the standalone systems.
Gallium-67 is estimated to witness a high CAGR in the SPECT market. Gallium-67 is a radioisotope used in diagnosing inflammation, acute and chronic infections, and tumors. It is also used as a bone imaging agent. Hybrid imaging using Gallium-67 SPECT/CT helps in exactly localizing the tumors. It is estimated that by 2040, new cancer cases would increase to 27.5 million and the cancer burden is expected to grow by 70% globally in the coming 20 years.
The market is driven primarily by the booming healthcare industry. Increasing prevalence of lifestyle-induced disorders and growing elderly population also promote market growth. Furthermore, over the years, the growing trend of dual modality and organ specific systems greatly helped in increasing SPECT equipment`s diagnostic capabilities.
Another factor promoting market growth is the rising prevalence of coronary artery diseases. Demand is also growing for hybrid SPECT imaging systems lately. Other growth promoting factors include increased research in the areas of radiopharmaceuticals development and growing awareness about the many benefits of the testing type over other imaging techniques among people.
Continued technological sophistications being achieved in system designing and development of novel radiotracers also promote market growth. However, stringent regulations governing use of the systems hold potential to hamper anticipated market growth. The imaging systems are also highly expensive.
High reagent costs, sensitivity of the reagents to storage conditions, and side effects arising from use of radiopharmaceuticals also act as market growth restricting factors. There are also a few alternatives to SPECT for instance, scintigraphy, increasing popularity of which can limit market growth.
What's New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- SPECT in Diagnosing Pulmonary Embolism amid COVID-19 Pandemic
- A Prelude to Single-Photon Emission Computed Tomography (SPECT)
- Prominent Indications for SPECT Scanning
- Global SPECT Market to Witness Steady Growth over the Coming Years
- Hybrid SPECT Systems Witness Increased Demand.
- Cardiology Dominates the Application for SPECT
- Fatalities by Heart Conditions - Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
- United States Dominates the Global SPECT Market, Asia-Pacific to Register Faster Growth
- Competition
- Recent Market Activity
- WORLD BRANDS
2. FOCUS ON SELECT PLAYERS (Total 45 Featured)
- Beijing Hamamatsu Photon Techniques Inc.
- Bracco Imaging
- Bruker Corporation
- Cadinal Health Inc
- Curium
- DDD-Diagnostic A/S
- Digirad Corporation
- GE Healthcare (GE Company)
- Koninklijke Philips N.V.
- Mediso Ltd.
- MiE America, Inc.
- Novartis AG
- Siemens Healthcare
- Spectrum Dynamics Medical
3. MARKET TRENDS & DRIVERS
- SPECT Dominates the Nuclear Medicine Market
- SPECT Systems with Anger Camera Remain the Dominant Type
- Rapidly Growing Geriatric Population and the Rise in Associated Diseases Catalyze Growth
- Rising Incidence of Chronic Diseases Propels the Demand for Medical Imaging
- Oncology Diagnostic Imaging to Witness Rapid Growth
- Growing Emphasis on Early Diagnosis is a Driving Factor for Diagnostic Imaging
- Rise in Healthcare Expenditure to Drive Growth
- SPECT Systems with Anger Camera Remain the Dominant Type
- Growing Demand for Dual-Modality and Organ-Specific Systems Augurs Well
- Growing Adoption of Hybrid Diagnostic Imaging Modalities
- SPECT-CT
- Commercialization of SPECT/CT Systems with Enhanced Features Surges
- SPECT Combined with CT and PET, the new Rage
- Integration of X-ray CT Enhances SPECT Capabilities
- Proper Selection of Isotopes Highly Important for SPECT
- Sustained Opportunities for Ga-67 SPECT Systems
- PET Eclipses SPECT in Cardiovascular Imaging
- Personalized Medicine Drives SPECT Market
- Drug Ineffectiveness for Select Therapeutic Categories as a Percentage of Patient Population
- Rise in Incidence of Neurological Disorders to Drive Growth
- Technological Advancements in the Recent Past
- Yale University Research Team Attempts to use Deep Learning for Estimating Attenuation Maps using SPECT Emission Data (2020)
- Siemens Healthineers Debuts New Version of c.cam Cardiac SPECT System
- NorthStar Medical Radioisotopes Advances Focus on Therapeutic and Specialized SPECT Radiopharmaceuticals
- Technological Advancements in Cardiac SPECT (2019)
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/juo9tm
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