The global single-photon emission computed tomography market was worth $2.28 billion in 2021 and is expected to be worth $2.45 billion by the end of 2022. Furthermore, with the increasing prevalence of various cardiovascular diseases and the growing need for better diagnostic technologies, the overall demand for single-photon emission computed tomography (SPECT) is expected to grow at a 6.9% CAGR between 2022 and 2032, totalling US$ 4.76 Billion by 2032.
Based on product, the single imaging gamma cameras segment dominated the global single-photon emission computed tomography market in 2021, with a market share of approximately 75.5%, and it is expected to maintain its dominance throughout the forecast period.
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SPE CT is a potential nuclear medicine technique that generates 3-D images of functional processes in the human body while allowing non-invasive diagnostic imaging of metabolic processes using short-lived radioisotopes. There are numerous applications for single-photon emission computed tomography scanners, one of which is the detection of chronic illnesses.
Global Single-Photon Emission Computed Tomography Market: Factors Boosting Revenue Growth
- Rising global demand for effective diagnostic techniques
- Emerging applications of new radiopharmaceuticals
- Global increase in healthcare expenditure
- Availability of favourable reimbursements for brain imaging
- Increased scanning efficiency with rapid technological advancements
- Rise in the number of free standing imaging centres
Country-wise Insights
What Makes the U.S. a Highly Lucrative Market for Single-Photon Emission Computed Tomography?
In 2021, the United States holds approximately 38.0% of the global single-photon emission computed tomography market and is expected to grow at a rapid pace during the forecast period.
In North America, favourable reimbursement for nuclear medicine devices and treatment is increasing, which is expected to boost the growth of the US single-photon emission computed tomography market.
Private/self-pay revenue increased its share of the total payor mix from 66.5% in 2018 to 67.4% in 2020. Medicare’s share dropped from 21.8% to 20.5%.
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What Makes China a Lucrative Single-Photon Emission Computed Tomography Market?
The China single-photon emission computed tomography market is expected to grow at a healthy rate throughout the forecast period, with a market share of more than 5.3% in the global market in 2021.
This growth is attributed to the country’s rapidly developing medical infrastructure, an increase in scientific research on the diagnosis, treatment, and follow-up of chronic illnesses, and significant public and private sector support for cancer research.
What is the Growth Projection for German Single-Photon Emission Computed Tomography Market?
According to FMI, Germany is expected to hold a nearly 5.0% market share in the global single-photon emission computed tomography market during the forecast period due to an increase in the elderly population, increased cancer prevalence, clinical use of diagnostic techniques that use radiopharmaceuticals, and increased government funding.
With 23 million people, the 40-59 age group is Germany’s largest. According to the most recent data from 2021, the next-largest age group was 65 and older, with 18.44 million people.
Global Single-Photon Emission Computed Tomography Market: Key Players
GE Healthcare, Siemens Healthcare, Koninklijke Philips N.V., Bruker Corporation, Mediso Ltd., Digirad Corporation, Spectrum Dynamics Medical, DDD-Diagnostic A/S, MiE America, Inc., CardiArc, Beijing Hamamatsu Photon Techniques INC., SHENZHEN BASDA MEDICAL APPARATUS CO., LTD., PNPMed, NuCare Inc. are some of the key market players profiled in this report.
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Key Market Segments Covered in Single-photon Emission Computed Tomography Industry Research
By Product:
- Single Imaging Gamma Cameras
- SPECT/CT
By Application:
- Cardiology
- Oncology
- Neurology
- Others
By End User:
- Hospitals
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers
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