United States, Rockville MD, Aug. 08, 2022 (GLOBE NEWSWIRE) -- As per the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the single photon emission computed tomography (SPECT) market is anticipated to rise at a noteworthy CAGR of 6.8% from 2022 to 2026.
The cardiology application segment is anticipated to increase at a significant rate during the forecast period (2022-2026). Increasing prevalence of cardiovascular disorders, rising adoption of cardiovascular OCT imaging techniques, and growing public awareness about heart disease diagnosis are reasons for rapid segmental growth.
SPECT systems' high-quality results are generated due to accurate measurement and functioning. However, recent developments in medical imaging techniques and digital technology using a variety of modalities are paving the way for earlier disease detection and treatment.
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To improve the diagnostic accuracy of the equipment, there is an increasing tendency towards organ-specific systems, which is anticipated to drive market expansion over the coming years. The simultaneous use of many modalities that can provide information about the physical, functional, and molecular changes of several diseases is expected to drive market growth going forward.
Additionally, the growing need for comprehensive imaging techniques by academic institutions and universities to give advanced training is anticipated to have a substantial impact on market growth during the forecast period. The development of diagnostic tools has also been expedited by advancements in digital and communications technology. New imaging techniques that reveal additional anatomical details are available in a majority of diagnostic laboratories and hospitals.
Key Takeaways from Market Study
- Global single photon emission computed tomography market to reach valuation of US$ 2.6 billion by 2026.
- Market in Germany set to expand at CAGR of 5.5% over forecast period.
- Market in Japan expected to rise at CAGR of 5.7% from 2022 to 2026.
- Demand for hybrid systems projected to rise at CAGR of 7% through 2026.
“Early diagnostic methods, expanding range of therapeutic trials, rise in geriatric population and consequent rise in the prevalence of chronic disorders, technological advancements in medical diagnostics, and increase in investments, funding, and subsidies by public-private organizations are factors supporting market growth,” says a Fact.MR analyst
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Winning Strategy
Key companies in the SPECT market are investing in R&D initiatives for developments in CT and MRI technology to provide accurate anatomical information. To stand out in the market, major firms should concentrate more on the opportunities for growth in the rapidly expanding market segments.
For instance,
- In 2021, Noria Therapeutics Inc. and PSMA Therapeutics Inc. entered into a contract with Bayer. Through this transaction, Bayer will gain unique access to a small molecule targeted at prostate-specific membrane antigen and a differentiated alpha radionuclide investigational drug based on actinium-225.
Single Photon Emission Computed Tomography Industry Research Segmentation
- By Product :
- Standalone
- Hybrid
- By Radioisotope :
- Tc-99m
- Ra-223
- Ga-67
- I-123
- Others
- By Application :
- Cardiology
- Oncology
- Neurology
- Others
- By End User :
- Hospitals
- Diagnostic Centers
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global single photon emission computed tomography market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2026.
The study divulges essential insights on the market on the basis of product (standalone, hybrid), radioisotope (Tc-99m, Ra-223, Ga-67, I-123, others), application (cardiology, oncology, neurology, others), and end user (hospitals, diagnostic centers, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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