With single positron emission computed tomography/computed tomography (SPECT/CT) fueling the charge, the North American nuclear medicine equipment market earned revenues of $298.4 million in 2007, according to new analysis from Frost & Sullivan of San Antonio.

Citing the ability of diagnostic CT to open up various lucrative opportunities, the report estimated revenues to reach $325.3 million in 2014.

SPECT/CT is becoming more of a mainstream tool in nuclear medicine and is on its way to becoming a must-have technology, according to the researchers. However, they also point out reimbursement reductions, tight end-user capital budgets, narrow physician referral bases and low levels of physician education could lead to slow clinical adoption.

"Vendors could also be significantly hindered by the inadequate technologist training for specialty markets," said Travis Chong, a Frost & Sullivan research analyst. "However, they can improve this issue by working with its consumers to offer informative training programs. This way, vendors will not only enhance physician education and technologist training levels, but also manage to strengthen its brand loyalty and recognition, which in turn, will translate into increased revenue potential."