The global SPECT market is projected to grow to $1.5 billion U.S. (1.4 billion euros) by 2021, at a compound annual growth rate (CAGR) of more than 5% during the forecast period, according to market research firm Technavio.
Cardiology is responsible for generating around 35% of the overall revenue. Hypertension and increased consumption of alcohol are some of the major factors contributing to the high demand for cardiac SPECT imaging, the firm said.
Oncology is also responsible for SPECT market growth, as the rising incidences of various types of cancer have increased the adoption of SPECT scans.
