SPECT Scanning Services Market Worth US$ 1,950.6 Million in 2022 | CAGR 7.8% – By FMI

SPECT Scanning Services Market Outlook (2022-2032)

[333 Pages Report] The global SPECT scanning services market is worth US$ 1,950.6 Million in 2022. The SPECT scanning services market is expected to expand at an average CAGR of 7.8% and reach US$ 4,434.8 Million by 2032.

Research and development in radiopharmaceuticals, an increase in 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 a wide variety of diagnostic and therapeutic applications. These are also used along with CT scanning services for analyzing human anatomy and physiology.

The SPECT scanners consist of 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, and this image is presented on the computer. The affected area will appear dark in color. Less tracker would mean the cell in the particular area is dead.

3 Top Drivers Influencing the SPECT Scanning Services Market

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.

In order to analyze the condition of certain body parts during the course of R&D, more and more usage of SPECT scanners is expected. This might increase the demand for SPECT scanning services.

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Wide Range of Applications:

One of the biggest advantages of using SPECT scanners is the wide range of applications they provide. The application further 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 on the basis of 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 the SPECT Scanning Services Market

Half-life of Radioactive substance: The half-life associated with the radioactive substance pose certain threats. The reason being the 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 are in millions of dollars. This means not all the hospitals can purchase these scanners because of a high initial investment. This might affect the SPECT scanning services adoption trends.

Opportunities Ahead for SPECT Scanning Services Market

Opportunities:

Data Integrating Imaging Systems:

By using data-integrated imaging systems, it is 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. This is expected to change the outlook of SPECT scanning services market.

Integration Via Mobile Technologies:

There is a huge opportunity to make data accessible via mobile technologies in addition to data 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, as well as the huge demand from hospitals.

How are the Start-ups influencing the SPECT Scanning Services Market?
As per the developments taking place 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.

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Regional Analysis:

North America

North America has a 35.1 percent SPECT scanning service market share. Regional SPECT scanning service market growth can be attributed to the abundance of industry operators in the area, as well as the frequency with which new products are released.

A number of factors, including attractive remuneration schemes and patient awareness, contribute to the region’s rapid adoption of high-priced neuroimaging procedures. This ensures that expensive diagnostics and suites pay for themselves more quickly.

Europe

Europe, which currently has a market share of 29.1%, is expected to be one of the most significant markets during the forecast period.

A focus on providing high-quality healthcare services, along with huge cash reserves available with hospitals, is expected to drive the SPECT scanning services market. Moreover, increased activities of Research and Development pertaining to healthcare services are expected to drive the SPECT scanning service market future trends.

Additionally, patient safety is given a lot of priority in this region. The application of SPECT scanners ensures safety for patients and carries out the required procedure seamlessly.

Competitive Landscapes:

What are the Key Players Operating in the SPECT Scanning Services Market?
Due to the presence of numerous regional and local companies, the global demand for SPECT scanning services is highly fragmented and competitive. Mergers and acquisitions, developments, alliances, and partnerships are just a few of the many marketing strategies employed by major players.

For major corporations, increasing their share of the consumer market also means creating new products. As a result of these innovations, SPECT scanning services have seen an increase in their effectiveness.

Some of the 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 SPECT Scanning Services 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 the assessment of adult patients with supposed Parkinsonian syndromes, provide research, and improve patient care, was recently declared the first patient enrolled in a Phase III clinical trial.

Mergers & Acquisitions:

As recently as November 2020, GE Healthcare announced the acquisition of Prismatic Sensors AB, a Swedish start-up that is 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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Report Scope
Details

Growth Rate

CAGR of 7.8% from 2022 to 2032

Base Year for Estimation

2022

Historical Data

2016-2021

Forecast Period

2022-2032

Quantitative Units

Revenue in US$ Million and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

Design, Product Type, Application, Region

Regions Covered

• North America
• Latin America
• Asia Pacific
• MEA
• Europe
  Key Countries Profiled
• U.S
  Canada
• Brazil
• Argentina
• Germany
• The U.K
• France
• Spain
• Italy
• Nordics
• BENELUX
• Australia & New Zealand
• China
• India
• GCC
• South Africa

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.

Key segments

By Design:

• Encapsulated
• Linear resonant actuators
• PCB mounted
• brushless coin
• Brushed coin
• Eccentric rotating mass

By Product Type:

• Eccentric rotating mass vibration motor (ERM)
• DC motor

By Application:

• Medical
• Commercial
• Cruise shipbuilding and ship repair

By Region:

• North America
• Latin America
• Asia Pacific
• MEA
• Europe

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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