Global Single Photon Emission Computed Tomography (SPECT) Market - Growth, Trends and Forecasts (2017 - 2022)
The global single photon emission computed tomography (SPECT) market is estimated at USD XX million in 2016 and projected to reach USD XX million by 2021, growing at a CAGR of XX% during the forecast period.
Single photon emission computed tomography (SPECT) is a nuclear imaging technique that uses radioactive tracers and a scanner to record data, which a computer constructs into two or three-dimensional images. SPECT has reportedly been combined with CT and MRI to provide detailed anatomical and metabolic information. The SPECT market has gained a huge popularity, globally. It is currently exhibiting a highly lucrative growth rate due to an increased use of SPECT, CT, and MRI for diagnosis of cardiac diseases, brain diseases, cancer, etc.
Drivers & Restraints
An increasing demand for SPECT analysis in radiopharmaceuticals, the growing geriatric population, improvements in SPECT imaging technology, new 99mtc labeled agents for visualizing biologically significant events and integration of x-ray tomography (CT) into SPECT are some of the major drivers for the growth of this market. The study of the nuclear medicine diagnostics is emerging rapidly in the form of a promising market. However, shorter half-life of radioisotopes, reimbursement issues, huge capital investments and stringent regulatory guidelines are turning out to be restraints for the market.
The single photon emission computed tomography market is segmented by:
Type of Radioisotope
By type of radioisotope, the market is segmented into Technetium-99m (TC-99m), Thallium-201 (TL-201), Iodine (I-123) and others. By application, the market is segmented into cardiology, lymphoma, thyroid, neurology, and others. There is a Cost/Quality Tradeoff trend between the SPECT and PET technologies; PET offers high-resolution images but at a very high cost, whereas SPECT offers low-quality imaging at reasonable costs.
Analyzing the application segment of SPECT, it is mostly being used in the cardiology, accounting for almost 90% of the market share in the segment.
Although, PET is gradually catching up with SPECT in the cardiology segment, new advancements in this field are making SPECT market more attractive. PET shows major promise with exciting new tracers, while new SPECT scanner technology introduced at the Society of Nuclear Medicine and Molecular Imaging (SNMMI) 2013 convention may indicate a comeback for the SPECT technology.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and Latin America. North America accounts for the largest market share, followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period, owing to improving research infrastructure in the region, increasing awareness among patients and physicians for radioisotopes, rising incidence of chronic disease like cancer and boost in the population.
Developed nations are expected to drive the SPECT/CT market during the forecast period, as it is a new technology with low market penetration.
Continuing improvements in imaging technology for SPECT have produced greater resolution and shorter imaging times. Promising future advancements in hardware technologies and image-processing algorithms are further expected to fuel the growth of the SPECT market.
The key players in the market are:
Philips (The Netherlands)
Positron Corporation (U.S)
Gamma Medica Inc.
Market analysis for the global single photon emission computed tomography (SPECT) market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers, restraints opportunities and challenges.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information.
Identification and analysis of the macro and micro factors that affect the global single photon emission computed tomography (SPECT) market.
Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.