Single-Photon Emission Computed Tomography Market Insights:
Single-Photon Emission Computed Tomography market was valued at USD 2.51 Billion in 2021, registering a CAGR of 6.8% during the forecast period (2022-2030), and the market is projected to be worth USD 4.54 Billion by 2030. The rise in the number of global cardiovascular diseases and increased demand for computed tomography procedures contribute to the growth of the single-photon emission computed tomography market. For instance, the latest data published by the European Heart network in 2021 reported that over 60 million people in the European Union are diagnosed with cardiovascular diseases. Thus, increasing incidences of chronic diseases especially among the aged population are expected to boost the growth of the single-photon emission computed tomography market during the forecast period.
Additionally, single-photon emission computed tomography (SPECT) systems witness substantial growth over the forecast period due to increased preference among medical professionals. For instance, the research published in May 2022 named “Single-Photon Emission Computed Tomography (SPECT) Testing and Efficacy of Percutaneous Coronary Intervention: A Substudy of the Orbita Trial” emphasized the correlation between the myocardial ischemia symptoms detection with specific single-photon emission computed tomography (SPECT) testing parameters. Based on region, North America is expected to contribute the largest market share in 2021 due to the higher disposable income, growing investments in medical infrastructure, and large availability of advanced medical treatment instruments. Thus, the above-mentioned factors are projected to support the growth of the Single-Photon Emission Computed Tomography market during the forecast period.
Single-Photon Emission Computed Tomography Market Dynamics:
A Single-Photon Emission Computed Tomography is referred to as a nuclear imaging scan which is a combination of radioactive tracer computed tomography (CT). The tracer allows doctors to understand the blood flow to the organs and tissues. The purpose of SPECT test is to help diagnose stroke, seizures, infections, stress fractures, and tumors in the spine.
Driver:
The globally rising need for SPECT testing for chronic diseases among the geriatric population increased improvements in SPECT imaging technology, and huge capital investment in the technological advancement of medical devices such as high storage capacity and fast scanning time are the major driving factors of the growth of the single-photon emission computed tomography market. Additionally, the rising demand for diagnostic imaging machines such as X-ray devices and MRI is also the key factor that is expected to support the growth of the single-photon emission computed tomography market.
Restraint:
The lower availability and limited supply of molecular isotopes that are necessary for diagnostic imaging devices hinder the growth of the single-photon emission computed tomography market due to safety concerns of the production reactors. Furthermore, the high cost of SPECT devices combined with difficulties in the integration of multiple diagnostic imaging devices due to the lack of trained professionals obstructs the market growth during the forecast period.
COVID-19 Analysis of Single-Photon Emission Computed Tomography Market:
The single-photon emission computed tomography market has been significantly impacted due to the COVID-19 pandemic in many different parts of the world. The factors such as poor supply chain, slow medical device manufacturing rate, limited availability of raw materials, and economic slowdown are the major impacts of COVID-19 on hampered the growth of the single-photon emission computed tomography market. Shipments were impacted during the initial lockdown due to a labor shortage and the closure of a manufacturing facility. The pandemic’s initial effects in China were tremendous. However, the nation’s circumstances have stabilized, and all product and service production rates have increased. As a result, it is determined that COVID-19’s overall impact on the Single-Photon Emission Computed Tomography market is moderate. Post covid-19 there was a positive impact on the Single-Photon Emission Computed Tomography market as consumers were more focused on health.
Single-Photon Emission Computed Tomography Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 5.1 Billion |
| CAGR (2022-2030) | 4.7% |
| By Type | Hybrid SPECT Systems, Standalone SPECT Systems |
| By Application | Oncology, Cardiology, and Neurology |
| By End-Use | Hospitals, and Diagnostic Imaging Centers |
| By Geography | North America– (U.S., Canada, Mexico)
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe) Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific) Latin America- (Brazil, Argentina, Chile, Rest of Latin America) Middle East and Africa- (GCC, Turkey, Israel, and the Rest of MEA) |
| Key Players | GE Healthcare, Siemens Healthcare, Mediso Ltd., Koninklijke Philips N.V., Bruker Corporation, Digirad Corporation, Spectrum Dynamics Medical, DDD-Diagnostic A/S, MiE America Inc., CardiArc |
Single-Photon Emission Computed Tomography Market Segment Analysis:
By Type
The product segment is bifurcated into hybrid SPECT systems and standalone SPECT systems. The standalone SPECT systems segment is projected to contribute the largest share to the growth of the single-photon emission computed tomography market due to the growing adoption in the cardiology and oncology divisions. Standalone SPECT is an imaging system that uses gamma rays for nuclear treatment. The injected radioisotope present in the machine detects the gamma-ray emissions to produce images for disease diagnosis and management purposes. Additionally, the features such as the production of high-quality imaging, accurate real-time tomographic scans, and reduced latent time are anticipated to support the standalone SPECT systems segment growth in the forecast period. Further, the hybrid SPECT systems segment is also expected to witness substantial growth during the forecast period due to the reduced patient exposure to radiation and the usage of the gamma camera and PET devices for the development of detailed imaging.
By Application
The application segment is divided into oncology, cardiology, and neurology. The cardiology segment has the largest share contribution to the growth of the single-photon emission computed tomography market. Cardiologists observe the blood flow in multiple areas in and around the heart with the help of single-photon emission computed tomography. A radioactive tracer such as sestamibi and technetium is injected into the gamma cameras which aids medical professionals in determining whether the patient’s heart has been adversely affected by ailments such as atherosclerosis (artery hardening), coronary artery disease, hypertension, valvular diseases like mitral valve prolapse, congenital bicuspid valves due to infection in the childhood, etc. Thus, the increased use of single-photon emission computed tomography in cardiology is expected to witness substantial growth during the forecast period. Additionally, the oncology segment is also expected to support the growth of the single-photon emission computed tomography market due to the high accuracy rate of diagnoses and precise location of potential threats in the patient body without the need for invasive procedures such as biopsy tests Or surgical interventions.
By End-Use
The end-user segment is categorized into hospitals and diagnostic imaging centers. The hospital segment contributed the largest revenue share of over 57.1% in 2021 to the growth of the single-photon emission computed tomography market. The factors such as the rising number of global patients diagnosed with diseases such as arrhythmia, heart failure, and related heart valve complications combined with easy availability and access of SPECT products across the hospitals for oncology and cardiology treatments are expected to fuel the hospital segment’s growth during the forecast period. Additionally, the factors such as the large availability of advanced medical equipment with improved technology and efficiency coupled with access to trained staff and healthcare professionals are also anticipated to accelerate the growth of the single-photon emission computed tomography market in the projected period.
By Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, North America contributed the largest share to the growth of the single-photon emission computed tomography market. The factors such as the growing cardiac patient pool, rising incidences of cancer cases, and the growing geriatric population which is highly susceptible to multiple chronic diseases and need for surgical interventions are anticipated to fuel the growth of the single-photon emission computed tomography market in the region in the North American region.
The Asia Pacific is also expected to support the growth of the single-photon emission computed tomography market during the forecast period. The factors such as growing expenditure on healthcare infrastructure, rising research and development in medical facilities, and emerging pharmaceutical distribution channels are estimated to boost the market growth in the Asia Pacific region.
Single-Photon Emission Computed Tomography Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and Application launches have accelerated the growth of the Sample Preparation market. Key players in the market include-
- GE Healthcare
- Siemens Healthcare
- Mediso Ltd.
- Koninklijke Philips N.V.
- Bruker Corporation
- Digirad Corporation
- Spectrum Dynamics Medical
- DDD-Diagnostic A/S
- MiE America Inc.
- CardiArc
Table of Content
- Introduction
- Market Introduction
- Market Research Methodology
- Research Process
- Primary Research
- Secondary Research
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Limitations of the Study
- Product Picture of Single-Photon Emission Computed Tomography
- Global Single-Photon Emission Computed Tomography Market: Classification
- Geographic Scope
- Years Considered for the Study
- Research Methodology in brief
- Parent Market Overview
- Overall Single-Photon Emission Computed Tomography Market Regional Demand
- Research Programs/Design
- Market Breakdown and Data Triangulation Approach
- Data Source
- Secondary Sources
- Primary Sources
- Primary Interviews
- Average primary breakdown ratio
- Market Dynamics
- Drivers
- Drivers
- Restraints
- Restraints
- Opportunity
- Impact forces on market dynamics
- Impact forces during the forecast years
- Industry Value Chain
- Upstream analysis
- Downstream analysis
- Distribution Channel
- Direct Channel
- Indirect Channel
- Potential Customers
- Manufacturing/Operational Cost Analysis
- Pricing Analysis by Region
- Key Technology Landscape
- Regulatory Analysis
- Porter’s Analysis
- Supplier Power
- Buyer Power
- Substitution Threat
- Threat from New Entry
- Competitive Rivalry
- PESTEL Analysis
- Political Factors
- Economic Factor
- Social Factors
- Technological Factor
- Environmental Factors
- Legal Factor
- Covid-19 impact on Global Economy
- Covid-19 impact on Single-Photon Emission Computed Tomographydemand
- Post-Covid Impact on Single-Photon Emission Computed TomographyMarket Demand
- Impact Analysis of the Russia-Ukraine Conflict
- Drivers
- Global Single-Photon Emission Computed Tomography Market Segmentation, by Revenue (USD Billion), (2022-2030)
- By Type
- Hybrid SPECT Systems
- Standalone SPECT Systems
- By Application
- Oncology
- Cardiology
- Neurology
- By End Use
- Hospitals
- Diagnostic Imaging Centers
- By Type
- Global Single-Photon Emission Computed Tomography Market Overview, By Region
- North America Single-Photon Emission Computed Tomography Market Revenue (USD Billion), by Countries, (2022-2030)
- US
- By Type
- By Application
- By End Use
- Canada
- Mexico
- US
- Europe Single-Photon Emission Computed Tomography Market Revenue (USD Billion), by Countries, (2022-2030)
- France
- UK
- Spain
- Russia
- Italy
- BENELUX
- Asia Pacific Single-Photon Emission Computed Tomography Market Revenue (USD Billion), by Countries, (2022-2030)
- China
- Japan
- Australia
- South Korea
- India
- ASEAN
- North America Single-Photon Emission Computed Tomography Market Revenue (USD Billion), by Countries, (2022-2030)
- Latin America Single-Photon Emission Computed Tomography Market Revenue (USD Billion), by Countries, (2022-2030)
- Brazil
- Argentina
- Chile
- Middle East and Africa Single-Photon Emission Computed Tomography Market Revenue (USD Billion), by Countries, (2022-2030)
- GCC
- Turkey
- South Africa
- Global Single-Photon Emission Computed Tomography Market Revenue: Competitive Analysis, 2021
- Key strategies by players
- Revenue (USD Billion and %), By manufacturers, 2021
- Player Positioning by Market Players, 2021
- Competitive Analysis
- GE Healthcare
- Business Overview
- Business Financials (USD Billion)
- Product Category, Type, and Specification
- Main Business/Business Overview
- Geographical Analysis
- Recent Development
- Swot Analysis
- Siemens Healthcare
- Mediso Ltd.
- Koninklijke Philips N.V.
- Bruker Corporation
- Digirad Corporation
- Spectrum Dynamics Medical
- DDD-Diagnostic A/S
- MiE America Inc.
- CardiArc
- GE Healthcare
- Market Research Findings & Conclusion
Disclaimer
Research Methodology
The Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.