Report : Asia Pacific 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 APAC SPECT Equipment Market during 2021–2028
According to a new market research study on “APAC 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$ 406.20 million by 2028 from US$ 284.60 million in 2021. The market is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The report provides trends prevailing in the APAC SPECT equipment market along with the drivers and restraints pertaining to the market growth. Recent advances in SPECT cameras is the major factor driving the growth of the APAC SPECT equipment market. However, issues associated with the high cost hinder the growth of APAC SPECT equipment market.
The APAC SPECT equipment market has been segmented based on type, radioisotopes, application, end user, and country. Based on type, the APAC 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 APAC 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 APAC 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 APAC 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 APAC SPECT equipment market is classified into Japan, China, India, India, South Korea, Australia, and Rest of APAC.
The severe acute respiratory syndrome coronavirus 2 (SARS-COV-2) spread rapidly around the world in the early months of 2020 before the COVID-19 outbreak was officially declared a pandemic in March 2020. Worldwide volumes of non-emergent testing, such as cardiac SPECT, decreased dramatically at the beginning of the lockdown as health systems attempted to limit the spread of the COVID-19 virus. Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19. As per the data of Worldometer, as of June 23, 2021, the Asia reported a total of 54.7 million COVID-19 cases, while in India the number of cases has been increasing and reached to 30,028,709 cases with 390,691 deaths so far. China, India and Japan registered considerable number of COVID-19 cases. The medical practices in the region continue to adapt to the challenges of CsOVID-19. Hospitals and other healthcare facilities worldwide are forced to postpone elective procedures, such as diagnosis and surgeries. Most non-urgent therapies have been postponed. As a precautionary approach, oncology practices implemented specific measures to reduce the number of patients in outpatient clinics, reduce unnecessary or elective procedures, and discharge patients from inpatient services. This has negatively impacted the growth of the SPECT equipment market in the region. The COVID-19 is having a detrimental effect on cancer patients worldwide. In addition, market players have also been affected by the pandemic owing to supply chain contrarians and reduced demand. Even before the pandemic, Nuclear Medicine’s supply chain was highly complex, depending on the availability of raw materials, manufacturing facilities' operations, and air transportation reliability. Thus, the factors mentioned above are negatively impacting the SPECT Equipment market in the region.
Bracco Imaging S.p.A.; Bruker Corporation; Cardinal Health, Inc; Curium; Lantheus Medical Imaging Inc.; Mediso Ltd.; and Spectrum Dynamics Medical are among the leading companies in the APAC 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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