The global SPECT Scanning Services market is estimated to secure a valuation of USD 2.1 billion in 2022. The global market is expected to expand at an average CAGR of 8.5% and reach USD 4.7 billion by 2032.
Research and development in radiopharmaceuticals, increased cancer cases, brain diseases, heart difficulties, and bone disorders, increased public awareness of SPECT and PET in nuclear medicine, and advancements in SPECT equipment are all projected to fuel the SPECT scanning service market expansion.
SPECT scanners are one of the most important medical diagnostic equipment. SPECT scanning services are utilized in various diagnostic and therapeutic applications. These are also used with CT scanning services for analyzing human anatomy and physiology.
The SPECT scanners contain radioactive substances and a high-resolution camera to form 3D pictures. These devices are safe to use. The procedure involving SPECT scanner is simple. A radioactive tracer is injected into the blood, which produces gamma rays. The camera captures the image, which is presented on the computer. The affected area appears dark in color. Less tracker would mean the cell in the particular area is dead.
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Increasing Investment in Research and Development:
With increasing cases of certain health complications like cancer, brain disorders, heart problems, and bone disorders, the medical community is investing heavily in research and development.
More and more usage of SPECT scanners is expected to analyze the condition of certain body parts during R&D. This might increase the demand for SPECT scanning services.
Wide Range of Applications:
One of the bigger advantages of using SPECT scanners is the wide range of applications they provide. The application increases if they are used along with MRI and CT scans for better imaging quality and high-resolution images.
Accuracy:
The SPECT scanners are known to work with a high level of accuracy. The SPEC scanners operate based on nuclear medicine imaging techniques.
The ability of nuclear imaging techniques to accurately detect molecular activity in the body and diagnose diseases at their earliest stages is expected to increase the demand for SPECT scanning services.
Challenges Limiting in the Global Market
The half-life of Radioactive substance: The half-life associated with the radioactive substance poses certain threats. The reason is that radioactive elements with half-life can dose the patient very badly if not handled with proper precautions.
High Capital Investment: The price of SPECT scanners is in millions of dollars. Not all hospitals can purchase these scanners because of the high initial investment. It might affect the SPECT scanning services adoption trends.
Opportunities Ahead in the Global Market
Opportunities:
Data Integrating Imaging Systems:
Using data-integrated imaging systems makes it possible to process and reconstruct images, identify medical conditions through computer-assisted recognition, create 3D images, and employ quality control measures.
Data integration makes it easier for doctors to compare scans and track the disease's progression. It is expected to change the outlook of the global market.
Integration Via Mobile Technologies:
There is a huge opportunity to make data accessible via mobile technologies and integration. Doctors are likely to be able to review and analyze scans from any location.
Companies are focusing on developing integrated systems for SPECT scanning because of the advantages and convenience they provide and the huge demand from hospitals.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 8.5% |
| Market Valuation (2023) | USD 2.1 billion |
| Market Valuation (2033) | USD 4.7 billion |
| Countries | Forecast Share Between 2023 to 2033 |
|---|---|
| United States | 29.1% |
| Germany | 5.7% |
| Japan | 5.5% |
| Countries | Forecast CAGR Between 2023 to 2033 |
|---|---|
| China | 9.1% |
| India | 9.4% |
| United Kingdom | 7.5% |
| Australia | 6.7% |
North America has a 35.1% SPECT scanning service market share. Regional SPECT scanning service market growth can be attributed to the abundance of industry operators in the area and the frequency with which new products are released.
Several factors, including attractive remuneration schemes and patient awareness, contribute to the region's rapid adoption of high-priced neuroimaging procedures. It ensures that expensive diagnostics and suites pay for themselves more quickly.
Europe, which currently has a market share of 29.1%, is expected to be one of the most important markets during the forecast period.
A focus on providing high-quality healthcare services and huge cash reserves available with hospitals is expected to drive the global market. Moreover, increased activities of Research and Development about healthcare services are expected to drive the SPECT scanning service market.
Additionally, patient safety is given a lot of priority in this region. The application of SPECT scanners ensures the safety of patients and carries out the required procedure seamlessly.
Principal Consultant
As per the developments in the start-up space, molecular imaging (MI) technologies are undergoing major changes. Early MI leaders provided clinicians with hybrid imaging technologies that coupled CT localization with SPECT and PET functional information (PET).
With solid-state detectors, innovators pushed the limits of medical imaging and helped physicians see diseases in more detail. These new imaging systems provided additional imaging data for processing and advanced automated tools and AI-based reconstruction algorithms to help clinicians make complicated diagnoses.
What are the Key Players Operating in the Global Market?
Due to the presence of numerous regional and local companies, the global demand for SPECT scanning services could be more cohesive and competitive. Mergers and acquisitions, developments, alliances, and partnerships are a few major players' marketing strategies.
For major corporations, increasing their consumer market share also means creating new products. As a result of these innovations, SPECT scanning services have seen an increase in effectiveness.
Some key players are Gamma Medica Inc., GE Healthcare, Siemens Healthineers, Toshiba Medical Systems Corporation, Mediso Medical Imaging Systems Ltd., Digirad Corporation, Positron Corporation, DDD Diagnostics, Cubresa Inc., and others.
Recent Developments in the Global Market
Product Launches
March 2022 GE Healthcare plans to add two new radiopharmaceuticals to its portfolio, one for Positron Emission Tomography (PET) and the other for Single-Photon Release Calculated Tomography (SPCT). A PET radiopharmaceutical imaging go-between, which aims to assist in assessing adult patients with supposed Parkinsonian syndromes, provide research, and improve patient care, was recently declared the first patient enrolled in Phase III clinical trial.
Mergers & Acquisitions
As recently as November 2020, GE Healthcare announced the acquisition of Prismatic Sensors AB, a Swedish start-up focused on photon-counting CT detectors. Oncology, cardiology, neurology, and numerous other clinical CT claims could benefit greatly from this information.
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Design, Product Type, Application, Region |
| Key Companies Profiled | Gamma Medica Inc.; GE Healthcare; Siemens Healthineers; Toshiba Medical Systems Corporation; Mediso Medical Imaging Systems Ltd Digirad Corporation; Positron Corporation; DDD Diagnostics; Cubresa Inc. and Others. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is estimated to reach USD 4.7 billion by 2032.
The market was estimated to secure a valuation of USD 2.1 billion in 2022.
The CAGR for the market is 8.5% through 2032.
The United States may witness significant growth in the market.
Gamma Medica Inc., GE Healthcare and, Siemens Healthineers are key SPECT scanning services market players.
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SPECT Scanning Services Market
