Comprehensive Study on the Global SPECT Radiopharmaceuticals Market

 

Global SPECT Radiopharmaceuticals Market

The global SPECT Radiopharmaceuticals market was valued at US$ 5169 million in 2024 and is anticipated to reach US$ 15040 million by 2031, witnessing a CAGR of 16.7% during the forecast period 2025-2031.

Single-photon emission computed tomography (SPECT) radiopharmaceuticals remain a cornerstone of nuclear medicine diagnostics worldwide thanks to broad clinical utility, lower cost vs. PET in many settings, and extensive installed SPECT/SPECT-CT base. Key isotope chemistry centers on technetium-99m (Tc-99m)-labeled kits, iodine-123 (I-123), and other gamma-emitters used for cardiology (myocardial perfusion imaging), bone scans, infection/inflammation imaging, neuroimaging (dopaminergic tracers), and organ function studies (renal, thyroid). The market is shaped by isotope supply (Mo-99/Tc-99m generator networks), regulatory controls, reimbursement policies, and ongoing clinical adoption in emerging markets as healthcare access expands. Hybrid imaging (SPECT/CT) and improved camera sensitivity also extend the clinical value of SPECT tracers.

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Key Trends Include

• Tc-99m supply resilience & diversification: investments in Mo-99 production, alternative production routes, and regional generator networks to reduce shortages.

• Shift toward kit innovation: new kits with improved stability, simplified workflows and ready-to-use formats for hospital radiopharmacies.

• Hybrid imaging & quantitation: SPECT/CT and improved reconstruction enable better lesion localization and semi-quantitative assessment.

• Growth in cardiac and infection imaging: continued use for myocardial perfusion and rising demand for infection/inflammation diagnostics (e.g., prosthetic joint infections).

• Emerging theranostic pairing: although theranostics has been PET-led, SPECT tracers are being explored in companion diagnostic roles for radionuclide therapies.

• Regional expansion: growing adoption in APAC and Latin America driven by increasing healthcare investment and aging populations.

• Regulatory harmonization and GMP expansion: stricter quality standards for radiopharmaceutical manufacturing and on-site compounding.

• Cold-chain & logistics improvements: solutions for faster distribution and waste management to enable broader access.

Market Segments Analysis

• By Product Type:

  • Tc-99m radiopharmaceutical kits (cardiac, bone, renal, hepatobiliary, lung perfusion, etc.)

  • I-123 & other gamma tracers (neuro, thyroid)

  • Mo-99/Tc-99m generators & eluates

  • Cold kits & ready-to-use formulations

  • Radiopharmacy services / compounding & logistics

• By Application:

  • Cardiology (myocardial perfusion imaging) — historically the largest application.

  • Oncology (lesion localization, bone scans)

  • Neurology (dopaminergic imaging, dementia workup)

  • Infection & inflammation imaging

  • Renal & hepatobiliary function studies

• By End User: Hospitals (nuclear medicine departments), diagnostic imaging centers, ambulatory care centers, specialty clinics.

• By Geography: North America & Europe (mature adoption, advanced radiopharmacies), APAC (fastest growth—China, India, Japan), Latin America & MEA (infrastructure expansion).

Market Opportunity

• Modernized Tc-99m kits with longer shelf life and simplified preparation to lower on-site workload.

• Point-of-care radiopharmacy models and turnkey generator solutions to expand access in mid-size hospitals and regional centers.

• Infection imaging and musculoskeletal diagnostics as growing, high-value niches with unmet clinical needs.

• Emerging markets rollout supported by training, service agreements and local compounding labs.

• Companion diagnostics: pairing SPECT tracers with emerging radionuclide therapies or supportive clinical algorithms.

• Value-based care positioning: demonstrating cost-effectiveness vs. alternate imaging (e.g., when SPECT can avert unnecessary procedures).

Growth Drivers and Challenges

Growth Drivers

• Aging population and higher prevalence of cardiovascular disease and cancers.

• Expanding nuclear medicine infrastructure in APAC and LATAM.

• Continued clinical guideline support for SPECT in cardiology and other indications.

• Manufacturer investments in kit stability, supply chain resilience, and service models.

Challenges

• Isotope supply volatility: Mo-99/Tc-99m production outages can constrain procedures and revenue.

• Competition from PET: growing PET availability and PET tracers for oncology and neurology may displace some SPECT use.

• Regulatory & reimbursement complexity: varying approvals, GMP requirements, and often slow reimbursement reforms.

• Cold-chain & short half-life logistics: radiopharmaceuticals require rapid distribution and on-site handling capacity.

• Capital & operational costs: need for SPECT/CT scanners, certified radiopharmacies and trained personnel.

Key Players (representative)

• Lantheus Medical Imaging (diagnostic radiopharmaceuticals, generators/injectable kits)

• Curium (radiopharmacy services, isotope supply)

• Jubilant Radiopharma / Jubilant Life Sciences (radiopharmaceutical kits & services)

• GE Healthcare (imaging systems + radiotracer partnerships)

• Cardinal Health (nuclear pharmacy services & distribution)

• Bracco Imaging / Medi-Radiopharma partners

• IBA Radiopharma Solutions / IBA Molecular (isotope & production services)

• Nordion (isotope supplier / Mo-99 source)

• Regional radiopharmacy networks and contract manufacturers (local kit producers and compounding services)

(Note: landscape includes manufacturers of kits, isotope producers, distributors, and radiopharmacy service providers.)

Market Research / Analysis Report Contains Answers To:

• What is the current global market size and projected growth by product (Tc-99m kits, I-123, generators) and region?

• Which clinical applications (cardiology, oncology, infection, neurology) will drive demand over the next 5–10 years?

• How do Mo-99/Tc-99m supply constraints and emerging production routes impact availability and pricing?

• What are the regulatory and GMP requirements by major regions for manufacturing and distributing SPECT radiopharmaceuticals?

• How will PET adoption and new PET tracers affect SPECT volumes across indications?

• What business models (onsite compounding, centralized radiopharmacies, generator leasing) are most scalable in emerging markets?

• Which kit innovations and formulation advances improve shelf life and operational efficiency?

• What are payer/reimbursement trends and how do they influence hospital adoption?

• Who are the strategic partners and M&A targets in isotope supply, kit manufacturing, and radiopharmacy logistics?

• What go-to-market strategies enable manufacturers to expand in APAC/LATAM (training, service contracts, local licensing)?