Though single-photon emission computed tomography (SPECT) remains the dominant modality for nuclear imaging globally, positron emission tomography (PET) imaging is gaining momentum, particularly in oncology and other high-value applications, primarily driven by tracer innovation, says GlobalData.
According to GlobalData’s recently updated “Nuclear Imaging Agents” market model, the global PET imaging agent market is valued at $2.1 billion in 2025, compared to $4.7 billion for SPECT. However, from 2025 to 2035, PET agents are projected to grow at a compound annual growth rate (CAGR) of 4.6 per cent in market value and 4.7 per cent in procedure volume, a rate that is 5.5 times higher than the projected growth of SPECT agents.
Ashley Clarke, Senior Medical Analyst, GlobalData, comments, “Recent successes in prostate-specific membrane antigen (PSMA)-based scans and clinical fibroblast activation protein inhibitors (FAPI) in oncology demonstrate how PET can directly influence treatment decisions. Additionally, advanced PET imaging in Alzheimer’s disease has the potential to improve early detection and monitoring of disease progression. This ability to alter management pathways encourages adoption across diagnosis and therapy planning.”
Despite the faster growth of PET, SPECT is supported by established supply chains, lower equipment costs, and its long-standing use in cardiology and general nuclear medicine. SPECT is anticipated to maintain its central role in nuclear medicine, with technetium-based scans comprising the majority of nuclear medicine procedures, estimated at 76 per cent in 2025 and 70 per cent in 2035.
Pipeline activity overwhelmingly favours PET, with GlobalData’s Pipeline Products Database tracking 129 PET agents in active development compared to 14 for SPECT. Among these, 7 PET and 1 SPECT agents are in the approval process and likely to launch in 2025-2026. There is increased research in theranostics, the integration of diagnostic PET tracers with therapeutic radioligands, that further enhances PET’s value proposition through establishing a connection between imaging and treatment. Emerging tools such as AI-based image quantification and standardised reporting are also expected to improve scan consistency and reduce variability in image interpretation, adding to the appeal of PET for advanced care.
Clarke concludes, “The nuclear imaging market is moving towards a rebalanced landscape between SPECT and PET. While PET is accelerating in high-income markets and is poised to capture a larger share of future growth, SPECT will continue to provide accessible and reliable coverage, especially in regions with limited infrastructure or budgetary constraints.
“Challenges such as radioisotope supply fluctuations, training demands, and variations in global access could impact adoption in certain markets. Overall, companies that concentrate on diversifying tracers, ensure a secure supply chain, and align with regional infrastructure needs are likely to be best positioned to capitalize on this transition.”