Single-Photon Emission Computed Tomography (SPECT) Market by Product, Application, and Geography - Forecast and Analysis 2020-2024

The single-photon emission computed tomography (SPECT) market size has the potential to grow by USD 620.21 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (standalone SPECT and hybrid SPECT), application (cardiology, oncology, neurology, and others), and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Bruker Corp., DDD-Diagnostic AS, Digirad Corp., General Electric Co., Koninklijke Philips NV, Mediso Ltd., MiE GmbH, MILabs BV, Siemens Healthineers AG, and Spectrum Dynamics Medical Inc.

Market Overview

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Market Competitive Analysis

The SPECT market is concentrated with the presence of a limited number of small-to-large scale vendors. Established vendors have strong financial abilities and technical expertise in offering safe and effective products. Most of the key vendors have been noted to be deploying a significant share of their capital in product R&D. They are also focusing on organic growth strategies, such as product launches, to bring considerable differentiation in their products and gain high customer penetration. The small-scale vendors are competing with the established vendors by using low price strategies and strengthening their local customer base. Bruker Corp., DDD-Diagnostic AS, and Digirad Corp. are some of the major market participants. Although the growing adoption of the SPECT/CT hybrid imaging system will offer immense growth opportunities, the intense competition from alternative medical imaging modalities will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this single-photon emission computed tomography market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this single-photon emission computed tomography market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Bruker Corp.
• DDD-Diagnostic AS
• Digirad Corp.
• General Electric Co.
• Koninklijke Philips NV
• Mediso Ltd.
• MiE GmbH
• MILabs BV
• Siemens Healthineers AG
• Spectrum Dynamics Medical Inc.

Single-Photon Emission Computed Tomography (SPECT) Market: Segmentation by Geography

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North America was the largest single-photon emission computed tomography market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The changes in hospital infrastructure and healthcare policies and the rising incidences of cancer, neurological disorders, and heart diseases will significantly drive radiotherapy SPECT market growth in this region over the forecast period.

38% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for single-photon emission computed tomography in North America. However, market growth in this region will be slower than the growth of the market in Asia.

Single-Photon Emission Computed Tomography (SPECT) Market: Segmentation by Product

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Standalone SPECT has been one of the oldest versions of SPECT scanning systems available in the medical imaging market. The market penetration of standalone SPECT systems is increasing globally, owing to the increasing number of cardiovascular and tumor cases. Additionally, low budgetary requirements for the installation of upgraded SPECT units are supporting the revenue growth in the segment. 

However, market growth in the standalone SPECT segment will be slower than the growth of the market in the hybrid SPECT segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the single-photon emission computed tomography market size.

Single-Photon Emission Computed Tomography (SPECT) Market: Key Drivers and Trends

The single-photon emission computed tomography market will grow steadily at a CAGR of over 6% during the forecast period. One of the primary drivers for this market is the rise in the adoption of the SPECT/CT hybrid imaging system. The market has been witnessing the growing adoption of SPECT/CT hybrid imaging technology owing to its advantages such as early diagnosis, accurate disease staging, and effective response to the treatment of chronic conditions such as diabetes.

Also, the increasing demand for SPECT/CT hybrid imaging systems is due to technological advances, decreasing prices, increasing awareness among end-users, and better reimbursement policies. Moreover, vendors are improving their technological capabilities of the SPECT/CT hybrid imaging system. This will further improve the adoption rates worldwide, which, in turn, will propel the growth of the SPECT market during the forecast period.

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Single-Photon Emission Computed Tomography (SPECT) Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive single-photon emission computed tomography market growth during the next five years
• Precise estimation of the SPECT market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the single-photon emission computed tomography industry across Asia, Europe, North America, and ROW
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of single-photon emission computed tomography market vendors

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