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Single-Photon Emission Computed Tomography (SPECT) Market Size, Industry Share, Analysis And Forecast 2024-2033
Single-Photon Emission Computed Tomography (SPECT) Market Size
According to The Business Research Company's, 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 growth in the historic period can be attributed to growing diagnostic imaging needs, rising incidence of chronic diseases, advancements in radiopharmaceuticals, expanding aging population, increasing 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 growth in the forecast period can be attributed to growing emphasis on precision medicine, expanding applications in neurological imaging, global rise in cancer incidence, advancements in radiotracer development, integration into multimodal imaging systems. Major trends in the forecast period include enhanced image reconstruction techniques, mobile spect imaging services, growing emphasis on cardiac imaging, innovations in detector technology, increasing clinical research initiatives.
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Market Drivers and Trends:
The rise in the prevalence of cases of cancer is expected to propel the growth of the single-photon emission computed tomography (SPECT) market going forward. This rise in the number of cancer cases has resulted from a rise in the aging population, unhealthy lifestyle choices, and environmental factors. Single-photon emission computed tomography (SPECT) helps in the diagnosis, staging, and monitoring of cancer along with other imaging techniques like computed tomography (CT) and Magnetic Resonance Imaging (MRI) scans. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. . Therefore, the rise in the prevalence of cases of cancer is driving the growth of the single-photon emission computed tomography (SPECT) market.
Technological advancements are a key trend gaining popularity in the single-photon emission computed tomography (SPECT) market. Companies operating in the single-photon emission computed tomography (SPECT) market are adopting new technologies like high-resolution imaging to sustain their position in the market. For instance, in June 2022, Siemens Healthcare, a Germany-based medical device and medical solution manufacturing company, launched the Symbia Pro. Spectra SPECT/CT Scanner. This Symbia Pro. Spectra SPECT/CT device has advanced imaging technology, improved accessibility, optimal low-dose imaging, automated SPECT motion correction, and customized clinical tools designed for imaging in cardiology, oncology, orthopedics, and neurology applications. This device also has the myExam Companion feature, which enables automated workflow guidance.
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Major Key Players of the Market:
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.
Single-Photon Emission Computed Tomography (SPECT) Market 2024 Key Insights:
• The single-photon emission computed tomography (spect) market will grow to $3.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• Rising Cancer Prevalence Driving The Single-Photon Emission Computed Tomography (SPECT) Market
• Revolutionizing Imaging With Advancements Reshaping The Single-Photon Emission Computed Tomography (SPECT) Market
• North America was the largest region in the single-photon emission computed tomography (SPECT) market in 2023
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