Global Single Photon Emission Computed Tomography (SPECT) Market - 2022-2029

Global Single Photon Emission Computed Tomography (SPECT) Market - 2022-2029

Market Overview

The global single photon emission computed tomography (SPECT) market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

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.

Market Dynamics

The global single photon emission computed tomography (SPECT) market growth is driven by the increasing demand for SPECT Analysis in Radiopharmaceuticals, growing Geriatric Population and improvements in SPECT Imaging Technology.

Increasing demand for SPECT analysis in radiopharmaceuticals is expected to drive the growth in the forecast period

The rising prevalence of cancer cases, such as breast cancer and prostate cancer, is also likely to enhance the market growth in the future significantly. For instance, as per the report of the American Cancer Society, in 2021, there were an estimated 1,898,160 new cancer cases diagnosed and 608,570 cancer deaths in the United States. The integration of X-ray computed tomography (CT) into SPECT has recently emerged as an essential diagnostic tool in medical imaging, where anatomical details may delineate functional and metabolic information. For instance, according to research published in January 2022 in the American Association of Physicists in Medicine titled ""Optimization of 99mTc whole-body SPECT/CT image quality: A phantom study,"" stated that Single-photon emission computed tomography (SPECT) combined with X-ray computed tomography (SPECT/CT) yields information on both physiology (SPECT) and anatomy (CT).

Furthermore, there is an increasing trend of dual-modality systems and organ-specific systems to enhance the diagnostic capability of the equipment. In the past several years, there has been growing utilization of PET/CT because functional and morphologic correlative images produced by this methodology improve diagnostic accuracy, and it is one of the factors that can impede the growth of the SPECT equipment market.

Side effects of radiopharmaceuticals is likely to hinder the market growth

Adverse reactions frequently encountered in radiopharmaceuticals include nausea, dyspnea, bronchospasm, decreased blood pressure, itching, flushing, hives, chills, cough, bradycardia, muscle cramps, dizziness, fever, infection, shock, and other allergic reactions. Shorter half-life of radioisotopes and stringent regulatory guidelines are few market restraints that hinder the growth of the market.

COVID-19 Impact Analysis

COVID-19 has a huge impact on the patients as they became self-selective in a way that they canceled their nuclear imaging procedures, which were categorized as nonessential. This pandemic has affected the operations of hospitals and doctors, too, as they were also prioritizing their procedures and postponed many elective surgeries radiation treatments, due to which there was a decrease in the demand for related SPECT scans. Besides the negative impact of COVID-19, it has created opportunities for players to establish their presence by launching new products or progressing clinical studies in this field. For instance, in November 2020, NanoMab Technology Limited received CTA Acceptance from the Medicines Healthcare products Regulatory Agency (MHRA) to carry out a Phase II clinical Study for its NM-01 product. This study will assess the programmed death-ligand 1 (PD-L1) expression using 99mTc-NM-01 as a SPECT/CT radiotracer and its correlation to PD-L1 expression results based on routine immunohistochemical (IHC) testing in biopsy diagnostic specimens.

Segment Analysis

The gallium-67 segment is expected to hold the largest share in this market segment

Gallium-67 radioisotope is used for diagnosing inflammation, both acute and chronic infection, and tumors, such as Hodgkin’s disease, lymphoma (except for lymphocytic), hepatoma, and bronchogenic carcinoma. Mostly, it is used as a bone imaging agent. Gallium-67 is the gold standard for tumor diagnosis and staging. Hybrid imaging using Ga-67 SPECT/CT enables the correct localization of lymphoma lesions. Ga-67 is a commonly used agent for the imaging of inflammation, because of its ability to accumulate non-specifically in inflamed areas as a metal-transferrin complex, followed by further binding to transferrin receptors. Some of the market players, which provide Gallium Citrate GA-67 are Lantheus Medical Imaging and Mallinckrodt Nuclear.

According to the International Agency for Research on Cancer (IARC), by the year 2040, it is estimated that new cases of cancer to grow to 27.5 million. In addition, the global cancer burden is anticipated to increase by 70% in the next 20 years. such growing burden of cancer generates the need for the radioisotopes in diagnosis and treatment of the disease and thus drives the growth of market segment. Thus, owing to the rising prevalence of various bone disorders, cancers and benefits associated with Gallium-67, the market is expected to witness a high growth rate over the forecast period.

Geographical Analysis

North America region holds the largest market share of global single photon emission computed tomography (SPECT) market

The SPECT market in the United States is growing propelled by advancements in technology, including hybrid imaging, new radiopharmaceuticals for diagnosis, and the development of molecular imaging. Technetium 99m (TC-99m) is the most widely used imaging agent due to its versatility.

According to the Global Cancer Observatory (Globocan) 2020, the United States has the second largest number of prevalent cancer cases in the world. The total prevalent cases of all ages accounted for 2,281,658 in 2020. There is also increasing investment in cancer disease research and treatment in the United States. According to data published by the National Center for Health Statistics (NCHS) at the Centers for Disease Control & Prevention (CDC), the investments for cancer were estimated to reach up to USD 7,176 million in the year 2021. This was a marked increase from the 2020 figures of USD 7,035 million.

Additionally, the introduction of new products in the market is also boosting the growth of the market in the region. For Instance, in July 2020, Spectrum Dynamics Medical introduced a digital solid-state cadmium zinc telluride (CZT)-based cardiac SPECT system called D-SPECT Vista. The system can be used for myocardial perfusion imaging. In September 2020, Siemens Healthineers introduced a new version of its c.cam dedicated cardiac nuclear medicine system to the United States market. This single-photon emission computed tomography (SPECT) scanner with a reclining patient chair offers nuclear cardiology providers a low total cost of ownership, ease of installation, and a high level of image quality. Also, in March 2020, Curium received United States Food and Drug Administration approval for Pulmotech MAA. It is SPECT agent used in lung imaging and evaluating pulmonary perfusion. Hence, owing to these factors, the market is likely to grow in the future.

Competitive Landscape

The global single photon emission computed tomography (SPECT) market is consolidated competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Bracco Imaging, GE Healthcare (GE Company), Curium, Cardinal Health Inc, NTP Radioisotopes SOC Ltd, Spectrum Dynamics Medical, Digirad Corporation and Lantheus Medical Imaging, Inc. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Single Photon Emission Computed Tomography (SPECT) globally. For instance, In March 2021, IBA (Ion Beam Applications S.A., EURONEXT) and NorthStar Medical Radioisotopes, LLC announced a collaboration to increase the global availability of technetium-99m (Tc-99m). The collaboration enables companies outside of the United States to access the Tc-99m Generation Systems (TCM Generation Systems) that utilize NorthStar’s proprietary non-uranium-based Mo-99 produced using IBA’s accelerators and beamlines.

Global Single Photon Emission Computed Tomography (SPECT) Market – Key Companies to Watch

GE Healthcare

Company Overview: GE Healthcare is a subsidiary of American multinational conglomerate General Electric incorporated in New York and headquartered in Chicago, Illinois. As of 2017, the company is a manufacturer and distributor of diagnostic imaging agents and radiopharmaceuticals for imaging modalities that are used in medical imaging procedures. The company offers dyes that are used in magnetic-resonance-imaging procedures. GE Healthcare also manufactures medical diagnostic equipment including CT image machines.

Product Portfolio: It includes product like NM/CT 860 is a SPECT/CT system designed for high-performance clinical environments. It combines the SPECT and productivity enhancements of the 800 Series with an optimal balance of CT technology.

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Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

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Research Professionals

Emerging Companies

Manufacturers

Market Segmentation

Global Single Photon Emission Computed Tomography (SPECT) Market – By Type of Radioisotopes

Tc-99m

Ra-223

Ga-67

I-123

Other Types of Radioisotopes

Global Single Photon Emission Computed Tomography (SPECT) Market – By Application

Oncology

Cardiology

Neurology

Other Applications

Global Single Photon Emission Computed Tomography (SPECT) Market - By Region

North America

Europe

Asia-Pacific

Middle East & Africa

South America