Single-photon emission computed tomography (SPECT) is a nuclear imaging technique that uses radioactive tracers and a scanner to record data to produce two or three-dimensional images. SPECT has reportedly been combined with computed tomography (CT) and MRI scanners to provide detailed anatomical and metabolic information of a patient. SPECT systems have gained popularity globally due to usage in diagnosis of various diseases such as cardiac, brain, and cancer. Moreover, several types of therapeutics radioisotopes, such as iodine-123, technetium-99m, xenon-133, thallium-201, and fluorine-18, are used along with the SPECT system for pain treatment and cell destruction procedure. Proper calibration and operation drive the high quality results of SPECT systems. However, new developments in computer technology and radiology medical devices using different modality are paving the way for earlier diagnosis and treatment of disease.
High prevalence of cardiovascular diseases, neurological diseases, and cancer, rise in patient awareness, surge in research and development initiatives, and increase in demand for diagnostic imaging devices such as MRI and X-ray devices are the major factors driving the single-photon emission computed tomography (SPECT) systems market. According to the WHO, cardiovascular diseases is one of the leading causes of death globally. In 2016, cardiovascular diseases accounted for 37% of the 16 million deaths under the age of 70 years due to non-communicable diseases. According to the WHO (2015), the number of new cancer cases is expected to rise by about 70% over the next two decades. Growth in technologies such as SPECT systems integrated with X-ray and computed tomography (CT) can fuel the overall diagnostic procedures for diseases such as cancer and neurological diseases. High cost of reagents, side effects of radiopharmaceutical, and sensitivity toward storage conditions are expected to hamper the growth of the single-photon emission computed tomography (SPECT) systems market.
The single-photon emission computed tomography (SPECT) systems market can be segmented based on tracer type, application, end-user, and region. In terms of tracer type, the market can be classified into technetium Tc-99m, iodine I-123, indium-111, gold Ag-198, iodine-125, iodine I-131, chromium CR-51, mercury Hg-197, mercury Hg-203, and others. Based on application, the global single-photon emission computed tomography (SPECT) systems market can be categorized into cardiology, oncology, neurology, and others. Cardiovascular is a rapidly growing segment because of increase in prevalence of cardiovascular diseases globally. According to the WHO, cardiovascular diseases accounted for 17.5 million deaths in 2012, representing 31% of all the global deaths. Of these, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. In terms of product type, the market can be bifurcated into hybrid SPECT system and standalone SPECT system. Based on end-user, the global single-photon emission computed tomography (SPECT) systems market can be divided into diagnostic laboratories, research institutes, hospitals, and others.
Geographically, the global single-photon emission computed tomography (SPECT) systems market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global market due to increase in number of heart patients, rise in cancer disease, and aging population. Early-phase diagnosis and treatment of disease drives the medical devices market which in turn is expected to propel the single-photon emission computed tomography (SPECT) systems market in North America. Europe is the second largest market for single-photon emission computed tomography (SPECT) systems, the region has favorable government policies regarding health care infrastructure, favorable regulations on radiopharmaceutical products, presence of key players, and awareness programs about cancer and cardiovascular diseases. The market in Asia Pacific is expected to grow at a rapid pace due to increase in population, changing lifestyle, rise in awareness among patients, and surge in per capita expenditure. Additionally, economic growth leading to improvement in health care infrastructure and increase in pharmaceutical distribution channels in developing countries such as India and China are likely to propel the single-photon emission computed tomography (SPECT) systems market in Asia Pacific.
Major players operating in the global single-photon emission computed tomography systems market include Mallinckrodt plc, GE Healthcare, Guerbet Group, Lantheus Medical Imaging, Inc., Daiichi Sankyo Company Limited, Eli Lilly and Company, Bayer AG, A Gamma Medica, Inc., Hologic, Inc., and Aytu BioScience, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.