Single-photon Emission Computed Tomography Market Size, Share & Trends Analysis Report By Product (Stand-alone SPECT Systems, Hybrid SPECT Systems), By Application (Cardiology, Oncology), By End Use, By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The global single-photon emission computed tomography market size was estimated at USD 3,780 million in 2023 and is expected to grow at a CAGR of 2.78% from 2024 to 2030. Major factors contributing to the market growth include the rising prevalence of cancer, as single-photon emission computed tomography (SPECT) imaging plays a crucial role in cancer diagnosis and management by enabling precise detection and monitoring of tumors. Furthermore, increasing awareness of diagnostic needs among healthcare providers and patients is also contributing to market growth, as more individuals seek early detection and intervention for various diseases.

The increasing incidence of cancer, particularly breast cancer and prostate cancer, is poised to significantly boost the market's growth prospects in the future. Notably, the American Cancer Society reported that in 2022, there were approximately 1.9 million new cancer cases diagnosed and 609,360 cancer-related deaths in the U.S. alone. The International Agency for Research on Cancer (IARC) estimates that the number of new cancer cases will rise to 27.5 million by 2040, with a global cancer burden expected to increase by 70% over the next 20 years.

According to the World Health Organization's (WHO) cancer agency, the IARC estimated that 9.7 million deaths occurred worldwide in 2022 and around 20 million new cancer cases were further recorded, affecting 115 countries. This number is expected to reach around 35 million new cases by 2050. Moreover, it is estimated that one in five people will be diagnosed with cancer at some point in their lifetime, and approximately one in 12 women and one in nine men will succumb to the disease. Furthermore, growing geriatric population globally drives the need for disease imaging.

The development of SPECT equipment has been significantly enhanced by the increasing adoption of dual-modality and organ-specific systems over time. Furthermore, the growing prevalence of coronary artery diseases has also contributed to the expansion of the market. The demand for hybrid SPECT imaging systems is currently on the rise, driven by the need for more accurate and comprehensive diagnostic capabilities. In addition, the expansion of research into the production of radiopharmaceuticals and increasing public awareness of the benefits of SPECT imaging over other imaging techniques are also driving factors. The development of new radiotracers and ongoing improvements in system design have further accelerated market growth. Notably, Gallium-67 has established itself as the gold standard for tumor diagnosis and staging, and its use in combination with SPECT/CT hybrid imaging has enabled accurate identification of lymphoma lesions.

Technological advancements in SPECT imaging, such as the development of hybrid imaging systems and improved radiopharmaceuticals, have enhanced the accuracy and efficiency of diagnostic procedures. Moreover, SPECT is increasingly being used in preclinical application and research to detect blood flow and assess physiological functions, broadening its application in medical research and drug development. For instance, a recent study 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" highlights the benefits of combining SPECT and CT imaging.

This integrated approach, known as SPECT/CT, yields valuable information on both physiology and anatomy, offering a more detailed understanding of the body's internal workings. The growing demand for advanced imaging techniques that provide faster and more accurate diagnoses further propels the market, as healthcare facilities strive to improve patient outcomes and streamline treatment processes. These factors collectively drive the SPECT market, positioning it for continued expansion in the forecast period.

The cost-effectiveness of SPECT technology is another major driving factor behind its widespread adoption. Unlike PET scanners, SPECT scanners are more affordable to purchase and maintain, making them more accessible to a diverse range of healthcare settings. As a result, SPECT technology is now being used in a wider variety of healthcare facilities, including smaller clinics and hospitals with limited resources. Furthermore, the unique radiotracers and imaging agents used in SPECT imaging offer distinct advantages in certain diagnostic tests, further enhancing its value in medical imaging.

Market Concentration & Characteristics

The industry is accelerating at a high growth rate and is witnessing significant innovation, major companies such as GE Healthcare, Siemens Healthineers, and Koninklijke Philips N.V. have established significant market shares due to their extensive product portfolios, strong research and development capabilities, and wide distribution networks. These industry leaders continue to invest in technological innovations to enhance imaging accuracy and efficiency, thereby maintaining their competitive edge. The market is marked by high barriers to entry due to the significant capital investment required for research and development, manufacturing, and regulatory compliance. In addition, the SPECT market is characterized by its reliance on cutting-edge technology and the need for continuous advancements to meet evolving clinical demands. This surge in diverse application is a key factor driving the industry's rapid growth.

The growing R&D activities in bringing novel products is driving industry. The development of cutting-edge technologies in SPECT and CT modalities is poised to fuel market growth. A recent milestone in this regard was the launch of the Symbia Pro.specta, a SPECT/CT system introduced by Siemens Healthineers in June 2022. This innovative system has earned both CE mark and FDA clearance, and its advanced features are set to revolutionize medical imaging.

Single-photon emission computed tomography (SPECT) industry have seen significant innovations driven at enhancing automatic SPECT motion correction, enhancing image clarity. Furthermore, market is characterized by a high degree of innovation, driven by continuous advancements in imaging technology and radiopharmaceutical development. Leading companies in the market are heavily investing in research and development to enhance image quality, improve diagnostic accuracy, and expand the clinical application of SPECT imaging.

Companies that manufacture single-photon emission computed tomography (SPECT) systems are undertaking merger and acquisition activities. This strategic approach seeks to improve technological capabilities, expand industry reach, and maintain competitiveness. For instance, in May 2022, Mediso Ltd, a prominent player in the SPECT market, made a significant announcement: the company has plans to acquire Bartec Technologies Ltd. Based in the UK, Bartec is a specialized company that focuses on supplying and installing molecular imaging equipment and accessories.

Regulatory bodies like the US Food and Drug Administration (FDA), Medicines and Healthcare products Regulatory Agency (MHRA) and the European Medicines Agency (EMA) play a crucial role in shaping the development and application of single-photon emission computed tomography (SPECT). Recently, in November 2020, NanoMab Technology Limited has received Clinical Trial Authorization (CTA) acceptance from the Medicines and Healthcare products Regulatory Agency (MHRA) to conduct a Phase II clinical study for its NM-01 product. This study aims to evaluate the expression of programmed death-ligand 1 (PD-L1) using 99mTc-NM-01 as a SPECT/CT radiotracer and compare it with PD-L1 expression results obtained from routine immunohistochemical (IHC) testing in biopsy diagnostic specimens.

The industry is characterized by low level of substitute by imaging technologies, such as PET (Positron Emission Tomography) and MRI (Magnetic Resonance Imaging), which offer different advantages depending on clinical needs. As a result, companies in the SPECT market are focusing on differentiating their products through technological advancements and the development of hybrid imaging systems that combine SPECT with other modalities such as CT to enhance diagnostic accuracy.

Regional expansion is a key strategy for growth, with companies seeking to penetrate emerging markets in Asia Pacific and Latin America where demand for advanced imaging technologies is rising due to improving healthcare infrastructure and increasing awareness of early disease detection.

Product Insights

The hybrid SPECT systems segment accounted for the highest segment share of 67.12% in 2023 and is also anticipated to grow at the expected to grow at a fastest CAGR over the forecast period.These systems combine SPECT imaging with other modalities, most commonly CT (Computed Tomography), to provide both functional and anatomical information in a single scan. This combination significantly enhances diagnostic accuracy and allows for better disease characterization, staging, and treatment planning.

Recent data indicates that the hybrid SPECT/CT segment is expanding at a compound annual growth rate (CAGR) of over 8%, as healthcare providers seek to improve patient outcomes through advanced imaging technologies. Manufacturers are involved in bringing novel products to the market. For instance, in recent years GE Healthcare introduced the Discovery NM/CT 670, a hybrid imaging system combining advanced SPECT and CT technologies to improve workflow, dose management, and image quality. This system integrates the BrightSpeed Elite 16-slice CT with a newly designed SPECT gantry, offering greater flexibility and enhanced diagnostic capabilities.

“As a hybrid method, SPECT/CT combines single-photon emission computed tomography (SPECT), which provides metabolic information from injected radionuclides, with anatomical information of bones and organs obtained from computed tomography (CT). This unites the high sensitivity of SPECT with the specific physiological localization provided by CT. “This improves diagnostic accuracy for a wide range of clinical conditions compared to SPECT or CT imaging alone.”

     - Prof. Dr. Klaus Strobel, head of the nuclear medicine department at the Lucerne Cantonal Hospital, Switzerland.

Gallium-67 (Ga-67) is widely regarded as the gold standard photon-emitting radiotracer for diagnosing and staging tumors. GA-67 can easily be integrated with hybrid SPECT technology which enables accurate localization of lymphoma lesions. Ga-67 is also a frequently used agent for imaging inflammation due to its ability to accumulate in inflamed areas as a metal-transferrin complex, which subsequently binds to transferrin receptors. This property allows for the detection of inflammation. In addition, hybrid systems that integrate SPECT with MRI (Magnetic Resonance Imaging) are gaining traction, particularly in research settings and specialized clinical application. The ability of hybrid SPECT/MRI systems to provide high-resolution soft tissue contrast along with functional imaging is opening new avenues in neurological and cardiovascular research. Recently, in June 2024, the QEII Health Sciences Halifax based centre, Nova Scotia, become the first medical facility gaining with the acquisition of the Starguide hybrid SPECT/CT nuclear medicine scanner in Canada. This advanced imaging technology combines single photon emission computed tomography (SPECT) with computed tomography (CT) to provide highly detailed and accurate images of the body.

“We are thrilled to be working with the QEII Foundation to bring this world-leading technology to the patients of Nova Scotia. This investment will revitalize our Nuclear Medicine program and allow us to provide cutting edge diagnostics in many fields, including cardiac and cancer imaging, impacting approximately 4,000 patients annually.”

     - Dr. James Clarke, chief, diagnostic imaging, Nova Scotia Health

Application Insights

The oncology segment held the largest market share of 47.15% in 2023, accounting for the largest share of the market and is further expected to grow at a fastest rate over the forecast period. The market is anticipated to continue expanding as a result of numerous rising cases of cancer globally. The rising global incidence of cancer is driving the growth of the nuclear imaging market, particularly in PET and SPECT technologies. These advanced modalities have gained widespread adoption due to their unparalleled ability to visualize the molecular characteristics of cancer, providing a deeper understanding of the disease. Moreover, PET and SPECT enable ongoing research in oncology, supporting the development and evaluation of novel cancer treatments and therapies by offering valuable insights into tumor behavior, metabolism, and response to experimental therapies.

In May 2024, Cancer Centre London introduced an advanced SPECT/CT scanner from Icon and Nuffield Health to enhance its diagnostic capabilities. This state-of-the-art technology combines Single Photon Emission Computed Tomography (SPECT) with Computed Tomography (CT) to provide high-resolution, 3D images that improve the accuracy of diagnoses. The new scanner aids in the precise localization of tumors and other abnormalities, allowing for more targeted treatment plans. This advancement is expected to significantly benefit patients by enabling earlier and more accurate detection of cancer, improving treatment outcomes.

“A Nuclear Medicine SPECT-CT scan is a diagnostic imaging technique that combines nuclear medicine with computed tomography (CT) imaging. It offers many benefits - it’s faster, so we have the capacity to see more patients who are waiting for an appointment.”
     - Angie Wong, CCL Nuclear Medicine and PET-CT Services Manager.

The Society Of Nuclear Medicine And Molecular Imaging highlighted a study, in April 2024, as a new SPECT/CT imaging technique demonstrated remarkable capabilities in identifying biomarkers associated with prostate cancer. This innovative method enhances the detection and monitoring of the disease, potentially leading to more personalized treatment plans. The technique improves access to prostate cancer diagnosis by providing clearer images and more detailed information about tumor biology. It is particularly beneficial in assessing metastatic disease and tracking treatment response. This advancement in imaging technology represents a significant step forward in the management of prostate cancer, offering new hope for improved patient outcomes. 

End Use Insights

The hospital segment held the largest segment share of 46.97% in 2023. Hospitals have been at the forefront of medical innovation, providing a comprehensive range of services to cater to diverse patient needs. By bringing various medical specialties under one roof, hospitals can offer a wider array of medical services, making it easier for patients to access the care they need. This shift towards hospital-based care has created a growing demand for advanced diagnostic equipment, including nuclear imaging technology. Hospitals have been increasingly embracing nuclear imaging technology to improve patient care.

This trend is evident in the widespread adoption of advanced diagnostic equipment, such as SPECT/CT scanners. For instance, in February 2023, Skane University Hospital in Sweden took a significant step forward by installing GE Healthcare's innovative StarGuide system, a cutting-edge SPECT/CT scanner. Furthermore, in another instance, in October 2022, the Punjab Health and Family Welfare Ministry in India approved the purchase of SPECT/CT and PET/CT scanners for the Homi Bhabha Cancer Hospital. This development aims to enhance the hospital's diagnostic capabilities and improve patient care.

“it’s all about the sum and combination of new and smarter features and functionality. We find the StarGuide very user friendly to operate. That is what enables us to retrieve better scanning data and to get it faster, and because of this we are able to examine more patients on a daily basis.”
     - Jessica Hagerman, Technologist Skåne University Hospital. 

The diagnostic imaging centers segment is expected to grow at a fastest rate over the forecast period. This is owing to the increasing demand for advanced imaging technologies that offer superior diagnostic capabilities. SPECT/CT systems provide highly detailed images that enhance the accuracy of disease diagnosis and treatment planning, making them an invaluable tool for imaging centers focused on offering cutting-edge services. The rising prevalence of chronic diseases, such as cancer and cardiovascular disorders, has heightened the need for precise and early diagnosis, further propelling the adoption of SPECT/CT systems in diagnostic imaging centers.

In addition, technological advancements and ongoing innovations in SPECT/CT imaging are making these systems more accessible and cost-effective for imaging facilities, thus contributing to the segment's rapid growth. As healthcare providers prioritize improved patient outcomes through early and accurate diagnostics, the demand for SPECT/CT in diagnostic imaging centers is expected to continue its upward trajectory. 

Regional Insights

Single-photon emission computed tomography (SPECT) market in North America accounted for the largest market share of 43.92% in 2023. The region benefits from well-established healthcare infrastructure and significant investment in research and development. Furthermore, the presence of key players in the region undertaking various initiatives to strengthen their presence is expected to contribute to regional growth. According to a report by the American Cancer Society, it is anticipated that over 1.95 million new cancer cases will be diagnosed in the U.S. in 2023, with approximately 609,820 cancer-related deaths.

The most common cancer sites include the lung, colorectal, breast, and prostate. These high figures indicate a rising prevalence of cancer, highlighting the increasing need for early detection and preventive treatment. As a result, there is a growing demand for advanced imaging technologies like SPECT, which play a crucial role in the early diagnosis and monitoring of cancer, driving the expansion of the SPECT imaging market.

U.S. Single-photon Emission Computed Tomography Market Trends 

Thesingle-photon emission computed tomography (SPECT) market in U.S. is expected to grow at substantial rate over the forecast period. The market is driven by the country having a high prevalence of chronic diseases, particularly cancer and neurological disorders, driving the need for precise diagnostic imaging. Technological advancements, including the development of new radiopharmaceuticals and the integration of AI in imaging, are enhancing the capabilities of SPECT systems. Recently, in November 2020, Siemens Healthineers has launched the new C.Cam SPECT system in the United States, designed specifically for cardiac imaging. The C.Cam system is compact and mobile, making it well-suited for use in various clinical environments, including small hospitals and outpatient clinics. Its user-friendly design and focused application for cardiology allow for efficient and accurate imaging of cardiac conditions, enhancing diagnostic capabilities for healthcare providers. 

The single-photon emission computed tomography (SPECT) market in Canada is expected to grow owing to the introduction of novel state of art facilities and integration of SPECT imaging systems in hospitals. For instance, in June 2024, the QEII Health Sciences Centre in Halifax has acquired a new, state-of-the-art nuclear medicine scanner, making it the first healthcare facility in Canada to utilize this advanced technology. The newly installed GE HealthCare StarGuide scanner is equipped with specialized digital technology that provides highly detailed 3D images, significantly enhancing the ability to diagnose and monitor various medical conditions, including cancer and cardiac diseases. Furthermore, government support for medical research and initiatives to improve healthcare access are also bolstering the adoption of SPECT technology in the Canada.

“It’s the first install in Canada of this exciting new technology. It’s state of the art in nuclear medicine. “What nuclear medicine is a lot of folks don’t know. It’s a form of imaging where we inject what we call tracers - radiopharmaceuticals - into people and image where that went.”
     - Dr. Steven Burrell, head of nuclear medicine at the QEII

Europe Single-photon Emission Computed Tomography Market Trends 

The single-photon emission computed tomography (SPECT) market in Europe also held a significant market share in 2023. There is growing awareness among both healthcare professionals and patients about the importance of early and accurate diagnosis in disease management. This awareness is fueling demand for SPECT imaging, as it offers precise functional imaging capabilities that can detect diseases at an early stage. European healthcare systems are increasingly prioritizing preventive healthcare and early diagnosis, contributing to the rising adoption of SPECT technologies. 

The single-photon emission computed tomography (SPECT) market in UK is expected to grow owing to the increasing awareness of the importance of early diagnosis and treatment planning for chronic diseases. The country's healthcare system is focused on adopting advanced imaging technologies to improve patient outcomes. Technological advancements in SPECT imaging, such as hybrid imaging and the development of novel radiopharmaceuticals, are driving market expansion. In May 2023, Siemens Healthineers launched the Symbia Pro.Specta SPECT/CT imaging system at the University Hospitals Birmingham NHS Foundation Trust. This advanced imaging technology is designed to enhance diagnostic capabilities by providing high-resolution, high-sensitivity imaging for a range of applications, including oncology, cardiology, and neurology. The Symbia Pro.Specta features state-of-the-art technology that integrates SPECT with CT, delivering detailed functional and anatomical imaging in a single scan.

“Features such as a small, quiet camera, and the availability of audible breathing instructions, help to enhance the patient experience, which is important for us as we have a lot of patients who are nervous

. “The design has facilitated an improvement in patient access to a wide range of SPECT/CT services at the hospital, helping us to increase patient throughput.”

     - Laura Whitehouse, Principal Clinical Technologist (Clinical Governance lead) in Nuclear Medicine at Queen Elizabeth Hospital Birmingham

The single-photon emission computed tomography (SPECT) market in Germany is driven by the country's strong healthcare infrastructure and focus on technological innovation are driving the adoption of SPECT systems. Technological advancements, such as the integration of SPECT with other imaging modalities and the development of new radiopharmaceuticals, are enhancing diagnostic accuracy and treatment planning. 

The single-photon emission computed tomography (SPECT) market in France has shown a strong commitment to healthcare innovation, particularly in the SPECT market. In March 2024, Spectrum Dynamics has announced the installation of its cutting-edge Veriton-CT SPECT/CT imaging system at Gustave Roussy, one of Europe's leading cancer centers, located in France. This installation marks a significant milestone in the adoption of advanced imaging technologies across Europe, highlighting the increasing demand for precise and innovative diagnostic tools. The Veriton-CT system is known for its superior image quality and faster scan times, which enhance the ability to accurately diagnose and monitor cancer and other chronic diseases.

Asia Pacific Single-photon Emission Computed Tomography Market Trends

The single-photon emission computed tomography (SPECT) market in Asia Pacific is expected to grow at a lucrative rate over the forecasted period. This can be attributed to the growth of driven by increasing awareness of diagnostic needs and a rising prevalence of chronic diseases. The region's expanding healthcare infrastructure and growing investment in medical technology are supporting market expansion. In addition, a large population base and an increase in funding from the public and private sectors support the market's expansion.

The single-photon emission computed tomography (SPECT) market in China is expected to grow attributed to a regulatory environment that encourages innovation, along with a substantial potential customer base. Technological advancements have significantly enhanced the accessibility and usability of these devices, making them suitable for everyday consumer use.

The single-photon emission computed tomography (SPECT) market in Japan is characterized by a strong focus on technological innovation and a high prevalence of chronic diseases, such as cancer and cardiovascular disorders. The country's advanced healthcare infrastructure and emphasis on early diagnosis are driving the adoption of SPECT imaging.

Latin America Single-photon Emission Computed Tomography Market Trends

Single-photon emission computed tomography (SPECT) market in Latin America is expected to growdue to investments by market players in the region, proximity to North America, and free-trade agreements with major countries such as the U.S., Canada, Japan, & several European countries. The region's expanding healthcare infrastructure and investment in medical technology are supporting market expansion and is also supporting the market growth.

Single-photon emission computed tomography (SPECT) market in Brazil is driven by, increasing investments by governments and private players in healthcare infrastructure and the adoption of advanced imaging technologies are contributing to the market's expansion in the Brazil.

MEA Single-photon Emission Computed Tomography Market Trends

Single-photon emission computed tomography (SPECT) market in MEA is expected to grow owing to the rising prevalence of cancer and cardiac disorders is a major driver for the growth of the nuclear imaging market in the MEA region. Various government initiatives and tech programs in the country is also driving market growth. Recently, in February 2023, United Imaging, a leading global provider of advanced medical imaging and radiotherapy equipment, announced several strategic partnerships in the Middle East and Africa at the Arab Health 2023 exhibition. These partnerships aim to expand United Imaging's presence in the region and enhance access to cutting-edge medical imaging technologies. The company is collaborating with key healthcare providers and distributors to deliver innovative solutions tailored to the needs of local markets.

Key Single-photon Emission Computed Tomography Company Insights

The continuous demand for single-photon emission computed tomography (SPECT) by end-users has created numerous market opportunities for major players to capitalize on. Market players are involved in undertaking various initiatives to hold a prominent share.

Recent Developments 

• In May 2024, the Cancer Centre London has introduced a new state-of-the-art SPECT/CT imaging system from ICON and Nuttified health, marking a significant advancement in diagnostic capabilities at the facility. This innovative system combines SPECT (Single Photon Emission Computed Tomography) with CT (Computed Tomography) to provide highly detailed and accurate imaging for cancer diagnosis and treatment planning.

• In January 2024, GE Healthcare announced a partnership to acquire MIM Software, a global leader in medical imaging analysis and artificial intelligence (AI) solutions. MIM Software specializes in providing advanced solutions for radiation oncology, molecular radiotherapy, diagnostic imaging, and urology. Their offerings are designed for a wide range of clients, including imaging centers, hospitals, specialty clinics, and research organizations around the world.

• In June 2022, Siemens Healthineers launched the Symbia Pro.Specta, a SPECT/CT system that has been awarded both CE mark and FDA clearance. This system combines advanced SPECT and CT imaging technologies, featuring a low-dose CT that can capture up to 64 slices, providing exceptional imaging detail. 

Single-photon Emission Computed Tomography Market Report Scope 

Global Single-photon Emission Computed Tomography Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, grand view research has segmented the global single-photon emission computed tomography market report based on application, product, end use and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Stand-alone SPECT Systems

  • Hybrid SPECT Systems

• Application Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Cardiology

  • Oncology

  • Neurology

  • Other Application

• End Use Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Diagnostics Imaging Centers

  • Research & Development Institutes

  • Others End Users

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait