Single-Photon Emission Computed Tomography (SPECT) Global Market Report 2024

The single-photon emission computed tomography (spect) market size has grown strongly in recent years. It will grow from $2.27 billion in 2023 to $2.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The increase observed during the historical period can be ascribed to the escalating demand for diagnostic imaging, a rise in the occurrence of chronic diseases, progress in radiopharmaceuticals, a growing elderly population, and a surge in healthcare expenditure.

The single-photon emission computed tomography (spect) market size is expected to see strong growth in the next few years. It will grow to $3.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The expansion anticipated in the forecast period can be credited to an increasing focus on precision medicine, broader applications in neurological imaging, a worldwide increase in cancer incidence, advancements in radiotracer development, and integration into multimodal imaging systems. Prominent trends expected in the forecast period encompass improved image reconstruction techniques, mobile SPECT imaging services, a heightened focus on cardiac imaging, innovations in detector technology, and a rise in clinical research initiatives.

The single-photon emission computed tomography (SPECT) market is poised for growth due to the escalating prevalence of cancer cases. This increase is attributed to factors such as an aging population, unhealthy lifestyle choices, and environmental influences. SPECT plays a crucial role in cancer diagnosis, staging, and monitoring, complementing other imaging techniques such as computed tomography (CT) and Magnetic Resonance Imaging (MRI). Notably, in September 2023, the World Health Organization reported 41 million deaths globally, with 74% attributed to non-communicable diseases (NCDs), including 9.3 million from cancer. This surge in cancer cases is a significant driver for the expansion of the SPECT market.

Anticipated growth in healthcare expenditure is expected to further propel the Single-photon emission computed tomography (SPECT) market. Healthcare expenditure, denoting spending on healthcare goods and services, is crucial for the development and accessibility of SPECT. For instance, in November 2022, the Canadian Institute for Health Information noted a 0.8% rise in healthcare expenditure to $331 billion in 2022, compared to 7.6% in 2021. Increasing healthcare expenditure is a key factor fueling the growth of the Single-photon emission computed tomography (SPECT) market.

Technological advancements are a prominent trend in the SPECT market, with companies adopting innovations such as high-resolution imaging to maintain their market standing. Siemens Healthcare, for example, introduced the Symbia Pro. Spectra SPECT/CT Scanner in June 2022, featuring advanced imaging technology, enhanced accessibility, optimal low-dose imaging, automated SPECT motion correction, and specialized clinical tools. This trend reflects the industry's commitment to staying at the forefront of technology to meet evolving demands.

Major players in the Single-photon emission computed tomography (SPECT) market are focusing on product innovation, such as the development of portable gamma cameras, to boost market revenues. The introduction of a portable high-resolution hybrid gamma optical camera by Serac Imaging in June 2023 signifies a step towards making SPECT imaging more accessible, versatile, and applicable in various healthcare scenarios.

Government initiatives for research and development in healthcare are poised to drive the growth of the Single-photon emission computed tomography (SPECT) market. These initiatives, encompassing actions, policies, and projects, are undertaken by government authorities to address specific healthcare challenges. In 2022, the UK government allocated £260 million (US $270.65 million) for healthcare research and manufacturing, aiming to support NHS-led health research and expand life sciences manufacturing. Such government initiatives play a pivotal role in advancing the Single-photon emission computed tomography (SPECT) market.

Major companies operating in the single-photon emission computed tomography (spect) market report are GE Healthcare Technologies Inc., Siemens AG, Bruker Corporation, Digirad Corporation, Mediso Ltd., DDD-Diagnostic A/S, Bracco Diagnostic SpA, Cardinal Health Inc., Curium Pharma UK Ltd., Spectrum Dynamics Medical Inc., Koninklijke Philips N.V., Beijing Hamamatsu Photon Techniques Inc., Novartis AG, MIE Medical Imaging Electronics GmbH, Global Medical Solutions Private Limited, Canon Medical Systems Corporation, Esaote S.p.A., Invicro LLC, LambdaSpect Ltd., Mediso Medical Imaging Systems Ltd., MR Solutions Ltd., TriFoil Imaging Inc., Gamma Medica Inc., Guerbet SA, Lantheus Medical Imaging Inc., Neusoft Medical Systems Co. Ltd., NTP Radioisotopes SOC Ltd., SurgicEye GmbH, Cubresa Inc., NeuroLogica Corp.

North America was the largest region in the single-photon emission computed tomography (SPECT) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the single-photon emission computed tomography (SPECT) market report during the forecast period. The regions covered in the single-photon emission computed tomography (spect) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the single-photon emission computed tomography (spect) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of single-photon emission computed tomography (SPECT) systems are hybrid and standalone SPECT systems. Hybrid SPECT systems refer to medical imaging devices that integrate functional and anatomical information obtained from SPECT with CT or MRI, facilitating more precise diagnoses. Various radioisotopes are involved in SPECT systems, including Tc-99m, Ra-223, Ga-67, I-123, and other radioisotopes. These find applications in various fields such as oncology, cardiology, neurology, and are utilized by hospitals, diagnostic centers, and other end-users.

The single-photon emission computed tomography (SPECT) market research report is one of a series of new reports that provides single-photon emission computed tomography (SPECT) market statistics, including global market size, regional shares, competitors with a single-photon emission computed tomography (SPECT) market share, detailed single-photon emission computed tomography (SPECT) market segments, market trends and opportunities, and any further data you may need to thrive in the single-photon emission computed tomography (SPECT) industry. This single-photon emission computed tomography (SPECT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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