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Single Photon Emission Computed Tomography (SPECT) - Global Market Trajectory & Analytics

  • ID: 5140130
  • Report
  • February 2022
  • Region: Global
  • 469 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Bracco Imaging
  • Cadinal Health Inc
  • DDD-Diagnostic A/S
  • Koninklijke Philips N.V.
  • MiE America, Inc.
  • Siemens Healthcare

Global Single Photon Emission Computed Tomography (SPECT) Market to Reach $2.5 Billion by 2026


SPECT imaging system is a type of nuclear imaging equipment. SPECT is used to evaluate disease processes that are based on metabolic and functional information of cells and organs. 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.

Amid the COVID-19 crisis, the global market for Single Photon Emission Computed Tomography (SPECT) estimated at US$1.7 Billion in the year 2020, 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. 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.



The U.S. Market is Estimated at $646.1 Million in 2021, While China is Forecast to Reach $274.4 Million by 2026


The Single Photon Emission Computed Tomography (SPECT) market in the U.S. is estimated at US$646.1 Million in the year 2021. The country currently accounts for a 36.07% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$274.4 Million in the year 2026 trailing a CAGR of 9.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.5% and 6.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR while Rest of European market (as defined in the study) will reach US$298.9 Million by the close of the analysis period.

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.

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.

Select Competitors (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
Frequently Asked Questions about the Global Market for Single Photon Emission Computed Tomography (SPECT)

What is the estimated value of the Global Market for Single Photon Emission Computed Tomography (SPECT)?

The Global Market for Single Photon Emission Computed Tomography (SPECT) was estimated to be valued at $1.7 Billion in 2020.

What is the growth rate of the Global Market for Single Photon Emission Computed Tomography (SPECT)?

The growth rate of the Global Market for Single Photon Emission Computed Tomography (SPECT) is 6.6%, with an estimated value of $2.5 Billion by 2026.

What is the forecasted size of the Global Market for Single Photon Emission Computed Tomography (SPECT)?

The Global Market for Single Photon Emission Computed Tomography (SPECT) is estimated to be worth $2.5 Billion by 2026.

Who are the key companies in the Global Market for Single Photon Emission Computed Tomography (SPECT)?

Key companies in the Global Market for Single Photon Emission Computed Tomography (SPECT) include Beijing Hamamatsu Photon Techniques Inc., Bracco Imaging, Bruker Corporation, Cadinal Health Inc, Curium, DDD, Diagnostic A/S, Digirad Corporation and Koninklijke Philips N.V..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Bracco Imaging
  • Cadinal Health Inc
  • DDD-Diagnostic A/S
  • Koninklijke Philips N.V.
  • MiE America, Inc.
  • Siemens Healthcare

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of Covid-19 and a Looming Global Recession
  • SPECT in Diagnosing Pulmonary Embolism amid COVID-19 Pandemic
  • Single Photon Emission Computed Tomography (SPECT) – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • 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

3. MARKET TRENDS & DRIVERS

  • SPECT Dominates the Nuclear Medicine Market
  • Global Radiopharmaceuticals Market Revenues in U$ Million for Years 2019, 2021, 2023 & 2025
  • Worldwide Installed Base of Nuclear Imaging Equipment by Modality (2019): Percentage Breakdown of Units Installed for PET and SPECT
  • SPECT Systems with Anger Camera Remain the Dominant Type
  • Rapidly Growing Geriatric Population and the Rise in Associated Diseases Catalyze Growth
  • Global Population of 65+ Individuals (In 000s) by Region for the Years 2015, 2020, 2025, 2030 & 2050
  • Rising Incidence of Chronic Diseases Propels the Demand for Medical Imaging
  • Global Cost of Chronic Diseases (In US$ Billion) for the Years 2018 and 2030
  • Oncology Diagnostic Imaging to Witness Rapid Growth
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • Number of New Cancer Cases and Deaths (in Million) by Region for 2018
  • Growing Emphasis on Early Diagnosis is a Driving Factor for Diagnostic Imaging
  • Rise in Healthcare Expenditure to Drive Growth
  • Elderly Healthcare Expenditure as a % of GDP
  • World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • 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
  • Global Personalized Medicine Market: Revenues in US$ Million for the Years 2019 and 2024
  • 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. MARKET ANALYSIS

UNITED STATES

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Single Photon Emission Computed Tomography (SPECT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 45
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • 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
Note: Product cover images may vary from those shown