SPECT & SPECT-CT Market | Industry Analysis, Trends, and Forecast to 2025
SPECT and SPECT-CT market is likely to witness lucrative gains over 2020-2025 and reach a valuation of US $1810.9 million by the end of the forecast period.
According to the estimates by reliable sources, the global SPECT and SPECT-CT market is anticipated to accrue US $1810.9 million by the year 2025. Single photon emission computed tomography (SPECT) is nuclear medicine tomography which uses gamma rays to develop 3D images of internal organs. The technique is used to examine the tissue activity and to diagnose, monitor, and treat broad spectrum of diseases. Rising adoption of SPECT for myocardial perfusion imaging (MPI) owing to its reliability, clinical validation, and cost-effectiveness is the key determinant for the growth of SPECT and SPECT-CT market.
Numerous advancements in the technology, such as integration of X-Ray CT, introduction of gamma camera technology, and development of wide beam reconstruction (WBR) are further enhancing the SPECT and SPECT-CT market share. These technologies reduce the examination time and dosage, while improving the diagnostic accuracy, attenuation correction, and image quality. Advanced detector design along with single-head gamma camera of the SPECT device is capable of handling large body-size patients and offers shorter examination time.
Moreover, development of specialized cameras for cardiac centric imaging is another emerging trend which will positively influence the SPECT and SPECT-CT market. Rising preference for Gallium-67 radioisotope for SPECT imaging will also drive the business spectrum. Ga-67 SPECT-CT is extensively used for bone imaging and diagnosing inflammation as well as infections. It is used for detecting tumors like lymphoma, Hodgkin’s disease, bronchogenic carcinoma, and hepatoma.
With respect to product type, the industry is categorized into SPECT and SPECT-CT. The former market segment is presumed to attain decent growth in the upcoming years, owing to its extensive application for detecting coronary and cardiac disorders.
Speaking of the application spectrum, SPECT and SPECT-CT market is fragmented into neurology, oncology, cardiology, and others. The market from oncology segment is projected to grow significantly during 2020-2025. These scanners are used for diagnosis of varied cancers like prostate cancer, colon cancer, breast cancer, and lung cancer. Rising prevalence of cancer across the globe is amplifying the adoption of SPECT and SPECT-CT devices.
Analyzing the regional landscape, the global SPECT and SPECT-CT market has secured significant traction from Saudi Arabia, Brazil, Australia, Southeast Asia, India, Korea, Japan, China, Italy, Russia, United Kingdom, France, Germany, Mexico, Canada, and United States. However, Asia Pacific region is slated to record modest growth over the forecast timeframe, pertaining to booming geriatric population and increasing occurrence of chronic diseases. Rising awareness regarding radiopharmaceuticals, along with easy accessibility to SPECT and higher healthcare spending across Japan, India, and China are augmenting the growth of APAC SPECT and SPECT-CT industry.
The prominent companies prevailing in the SPECT and SPECT-CT market are MIE, GE Healthcare, Siemens Healthineers, Mediso, Philips Healthcare, SurgicEye, Spectrum Dynamics, Bruker, and MILabs among others. Industry colossuses like Philips Healthcare and Siemens Healthineers are undertaking extensive R&D activities to discover new diagnostic applications of SPECT and SPECT-CT to amplify their market stake in the upcoming years.