by
Brendon Nafziger, DOTmed News Associate Editor | August 12, 2011
SPECT has the lion's share of the market for radiopharmaceuticals to diagnose disease, but PET's catching up as the market continues to grow on rising demand from China and India, according to a new research teaser.
The MarketsandMarkets report, "Global Radiopharmaceuticals Market (PET/SPECT Imaging & Therapy) - Current Trends & Forecasts (2010 - 2015)," said the global market for radiation-emitting drugs to treat cancer or diagnose disease with PET and SPECT scanners will hit $4.7 billion by 2015, expanding at a compound annual growth rate of 8.1 percent from its $3.2 billion total in 2010.
PET and SPECT together accounted for 90 percent ($2.7 billion) of the total market. For diagnostics, SPECT had the biggest share, at 72 percent ($2.3 billion) in 2010. However, PET's slice is expected to grow at a CAGR of 12.1 percent from 2010-2015 to reach 30 percent of the diagnostic market by 2015.
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