Report : North America SPECT Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Hybrid SPECT (SPECT-CT and SPECT-MR) and Standalone SPECT), Radioisotope Type (Iodine-123, Technetium-99m, Xenon-133, Thallium-201, Radium-223, Gallium-66, and Other Radioisotopes), Application (Seizures, Stroke, Stress Fractures, Infections, Tumors, and Others), and End User (Hospitals, Imaging Centers, and Others)
Hybrid SPECT Segment to Dominate North America SPECT Equipment Market during 2021–2028
According to a new market research study on “North America SPECT Equipment Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Radioisotopes, Application, and End User” is expected to reach US$ 935.36 million by 2028 from US$ 677.68 million in 2021. The market is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report provides trends prevailing in the North America SPECT equipment market along with the drivers and restraints pertaining to the market growth. Increase in incidence of cardiovascular diseases is the major factor driving the growth of the North America SPECT equipment market. However, issues associated with the high cost hinder the growth of North America SPECT equipment market.
The North America SPECT equipment market has been segmented based on type, radioisotopes, application, end user, and country. Based on type, the North America SPECT equipment market is segmented into hybrid SPECT and standalone SPECT. The hybrid SPECT segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Further, hybrid SPECT is bifurcated by SPECT-CT and SPECT-MR. Based on radioisotopes, the North America SPECT equipment market is segmented into Iodine-123, Technetium-99m, Xenon-133, Thallium-201, Radium-223, Gallium-66, and other radioisotopes. The Technetium-99m segment dominated the market in 2020 and Ga-66 segment is expected to be the fastest growing during the forecast period. Based on application, the North America SPECT equipment market is segmented into seizures, stroke, stress fractures, infections, tumors, and others. The stroke segment dominated the market in 2020 and tumors is expected to be the fastest growing during the forecast period. Based on end user, the North America SPECT equipment market is segmented into hospitals, imaging centers, and others. The hospitals dominated the market in 2020 and imaging centers segment is expected to be the fastest growing during the forecast period. Based on country, the North America SPECT equipment market is classified into US, Canada, and Mexico.
Countries falling under North America were highly impacted by Covid-19 in the initial stages, i.e., during the first wave, and impacted the U.S. SPECT equipment market. As per the Society of Nuclear Medicine and Molecular Imaging (SNMMI), nearly 80% of respondents saw declines of 50%-75% in nuclear medicine imaging procedures. In the U.S., due to an increasing number of infected patients and lethal Coronavirus variants, the diagnostic and imaging activities had come to an end for an extended period during the pandemic. Thus, overall diagnosis of chronic diseases with SPECT equipment got delayed and hampered the North American SPECT equipment market. Therefore, the COVID-19 has a potential economic impact on most sectors, including oncology procedures. The pandemic has hindered cancer diagnosis and surgeries and is likely to impact the market negatively. For instance, in 2020, Breastcancer.org conducted a survey in 534 patients in the U.S., which revealed that around 31.7% of people who had been diagnosed with breast cancer reported a delay in care; of these people, 22% reported delayed in screening, and 9.3% reported a delay in treatment due to COVID-19. As a result, more cases of advanced cancers are expected in coming years due to delayed diagnosis, such as preventative screening and postponed medical appointments, in the coming years. The SPECT Equipment market in the U.S. is expected to witness modest growth driven by an aging population, increases in health risk factors like poor lifestyle, and the adoption of new technology due to favorable regulatory changes. However, the overall market expansion will be hindered by a saturated installed base of large imaging systems and the consolidation of hospitals. Also, the pandemic has dramatically affected the activities in radio isotopes field globally. In many radio pharmacy labs, diagnostic imaging tests are quantitatively reduced, and certain imaging centers reduce their test procedures to a significant extent. Thus, the market for SPECT Equipment region is expected to witness negative growth for a certain period.
Bracco Imaging S.p.A.; Bruker Corporation; Cardinal Health, Inc; Curium; Lantheus Medical Imaging Inc.; Mediso Ltd.; MiE GmbHNTP RADIOISOTOPES; and Star Equity Holdings Ltd. are among the leading companies in the North America SPECT Equipment market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Cardinal Health Nuclear & Precision Health Solutions received U.S. Food and Drug Administration approval for new LYMPHOSEEK Pediatric Indication.
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