Press release
Strategic Forecast for the Single-Photon Emission Computed Tomography (SPECT) Industry: Market Outlook 2025-2034
Single-Photon Emission Computed Tomography (SPECT) Market
Single-Photon Emission Computed Tomography (SPECT) Market Size Growth Forecast: What to Expect by 2025?
The market size of single-photon emission computed tomography (spect) has seen significant development in recent years. The market is projected to increase from a value of $2.37 billion in 2024 to $2.5 billion in 2025, with an approximate compound annual growth rate (CAGR) of 5.7%. The considerable growth during the historic period was due to factors such as the escalating demand for diagnostic imaging, increased prevalence of chronic diseases, advancements in radiopharmaceuticals, the expansion of the aging population, and a rise in healthcare spending.
How Will the Single-Photon Emission Computed Tomography (SPECT) Market Size Evolve and Grow by 2029?
Expectations are high for robust expansion in the single-photon emission computed tomography (SPECT) market in the upcoming years. The predicted valuation stands at $3.57 billion by the year 2029, growing at a compound annual growth rate (CAGR) of 9.3%. Factors contributing to this anticipated growth in the forecast period include an increased focus on precision medicine, the broadening use in neurological imaging, a worldwide increase in cancer rates, progress in radiotracer development, and the incorporation of multimodal imaging systems. Other notable trends going forward could involve improvements in image reconstruction methods, the rise of mobile SPECT imaging services, a heightened emphasis on cardiac imaging, innovations in detector technology, and a surge in clinical research initiatives.
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What Drivers Are Propelling the Growth of Single-Photon Emission Computed Tomography (SPECT) Market Forward?
The growth of the single-photon emission computed tomography (SPECT) market is anticipated to surge due to the increasing incidence of cancer cases. The escalation in cancer prevalence can be tied back to an aging population, poor lifestyle decisions, and environmental influences. Single-photon emission computed tomography (SPECT) is instrumental in identifying, staging, and monitoring cancer along with additional imaging techniques such as computed tomography (CT) and Magnetic Resonance Imaging (MRI) scans. For example, the World Health Organization, a specialized agency of the United Nations based in Switzerland, reported in September 2023 that non-communicable diseases (NCDs) or chronic diseases caused 41 million deaths, constituting 74% of global deaths per year. The statistics further break down into 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 heightening incidence of cancer is fueling the expansion of the single-photon emission computed tomography (SPECT) market.
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What Are the Key Trends Driving Single-Photon Emission Computed Tomography (SPECT) Market Growth?
Top firms in the Single-photon emission computed tomography (SPECT) market are focusing on product innovation, like portable gamma cameras, to increase their market revenue. Clinical trials of such a device signify technological advancements that make SPECT imaging more versatile and applicable in diverse healthcare contexts. For instance, Serac Imaging, a British molecular imaging company, released a portable high-resolution hybrid gamma optical camera in June 2023. The device is intended to supplement the technology presently utilized in nuclear medicine departments, simplifying processes and adding more capacity.
What Are the Key Segments in the Single-Photon Emission Computed Tomography (SPECT) Market?
The single-photon emission computed tomography (spect) market covered in this report is segmented -
1) By Type: Hybrid SPECT Systems, Standalone SPECT Systems
2) By Type Of Radioisotopes: Tc-99m, Ra-223, Ga-67, I-123, Other Radioisotopes
3) By Application: Oncology, Cardiology, Neurology, Other Applications
4) By End User: Hospitals, Diagnostic Centers, Other End User
Subsegments:
1) By Hybrid SPECT Systems: SPECT Or CT Systems, SPECT Or MRI Systems
2) By Standalone SPECT Systems: Single-Head SPECT Systems, Multi-Head SPECT Systems
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Who Are the Key Players Shaping the Single-Photon Emission Computed Tomography (SPECT) Market's Competitive Landscape?
Major companies operating in the single-photon emission computed tomography (SPECT) market include GE Healthcare Technologies Inc., Siemens AG, Digirad Corporation, Mediso Ltd., Bracco Diagnostic SpA, Cardinal Health Inc., Curium Pharma UK Ltd., Spectrum Dynamics Medical Inc., Koninklijke Philips N.V., Beijing Hamamatsu Photon Techniques Inc., Canon Medical Systems Corporation, Esaote S.p.A., MR Solutions Ltd., TriFoil Imaging Inc., Gamma Medica Inc., Guerbet SA, Lantheus Medical Imaging Inc., Neusoft Medical Systems Co. Ltd., Cubresa Inc., NeuroLogica Corp.
What Geographic Markets Are Powering Growth in the Single-Photon Emission Computed Tomography (SPECT) Market?
North America was the largest region in the single-photon emission computed tomography (SPECT) market in 2024. 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
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