The global single-photon emission computed tomography market is on a trajectory of significant growth, fueled by rapid advancements in diagnostic imaging technologies and the rising incidence of cardiovascular diseases. Recent market analysis underscores a promising future for SPECT, with the market’s valuation soaring from USD 2.28 billion in 2021 to an estimated USD 2.45 billion by the close of 2022.
This upward trend is set to continue, with the market projected to expand at a compound annual growth rate (CAGR) of 6.9% over the forecast period from 2022 to 2032. By the end of this period, the global SPECT market is anticipated to reach approximately USD 4.76 billion, reflecting a robust and sustained increase in demand.
Single-photon emission computed tomography is a pivotal nuclear medicine technique that enables 3-D imaging of functional processes within the human body. It utilizes short-lived radioisotopes for non-invasive diagnostic imaging of metabolic processes, playing a crucial role in the detection and management of chronic illnesses.
In 2021, the single imaging gamma cameras segment dominated the global SPECT market with a market share of 75.5%, a trend expected to continue throughout the forecast period. These gamma cameras are integral to SPECT systems, enhancing diagnostic capabilities by providing detailed metabolic and functional data of cells and organs.
The increasing demand for better diagnostic tools, coupled with advancements in organic-specific and dual-modality imaging systems, is driving the expansion of the SPECT market. As healthcare providers prioritize accurate and efficient diagnostic solutions, SPECT technology is poised to play a pivotal role in meeting these demands.
“The global SPECT market is witnessing robust growth driven by technological advancements and the rising burden of cardiovascular diseases,” said FMI. “As we move towards 2032, innovations in imaging systems and enhanced diagnostic capabilities will further accelerate market expansion.”
Key Takeaways: Single-Photon Emission Computed Tomography (SPECT) Market
- The global SPECT market reached USD 2.28 billion in 2021 and is expected to reach USD 2.45 billion by 2022.
- The market is expected to grow at a CAGR of 6.9% from 2022 to 2032, reaching a valuation of USD 4.76 billion by 2032. This growth is attributed to the rising prevalence of cardiovascular diseases and the demand for better diagnostic tools.
- North America, with the USA holding a dominant 38% share in 2021, is expected to continue leading the market due to favorable reimbursement policies for nuclear medicine procedures.
- China’s SPECT market, with a 5.3% share in 2021, is projected for healthy growth due to advancements in medical infrastructure, focus on chronic disease management, and government support for cancer research.
- Germany, with an aging population and increasing use of radiopharmaceutical diagnostics, is expected to hold a nearly 5% market share due to government funding initiatives.
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Competitive Landscape:
Major players in the single-photon emission computed tomography (SPECT) market are aggressively pursuing market dominance through strategic partnerships, product launches, and expansion efforts. For example:
- In November 2020, GE Healthcare acquired Prismatic Sensors AB, a Swedish startup known for its expertise in photon-counting detectors. This acquisition underscores GE Healthcare’s ongoing commitment to advancing photon-counting CT technology.
- In May 2022, Mediso Ltd. acquired Bartec Technologies Ltd., a UK-based company specializing in the supply, installation, and support of Nuclear Medicine and Molecular Imaging equipment and accessories.
These moves highlight the proactive strategies employed by industry leaders to strengthen their positions and drive innovation in the SPECT market.
Key Companies Profiled:
- Bruker Corp.
- DDD-Diagnostic AS
- Digmed Corp.
- General Electric Co.
- Mediso Ltd.
- MiE GmbH
- MILabs BV
- Siemens Healthineers AG
- Spectrum Dynamics Medical Inc.
- GE Healthcare
- CardiArc
- Beijing Hamamatsu Photon Techniques INC.
- SHENZHEN BASDA MEDICAL APPARATUS CO., LTD.
- PNPMed
- NuCare Inc.
Key Market Segments Covered in Single-photon Emission Computed Tomography Industry Research:
By Product:
- Single Imaging Gamma Cameras
- SPECT/CT
By Application:
- Cardiology
- Oncology
- Neurology
- Others
By End User:
- Hospitals
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa(MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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