Global Spinal Imaging Market to hit $3.19 billion, Globally, by 2031 at 5.4% CAGR, says Coherent Market Insights

The Global Spinal Imaging Market Size was Valued at USD 2.10 Billion in 2023 and the Worldwide Spinal Imaging Market Size is Expected to Reach USD 3.19 Billion by 2031, according to a research report published by Coherent Market Insights. Companies covered: Shimadzu Corp., FUJIFILM, Hitachi, Ltd., Toshiba Medical Systems, Inc., GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Canon Medical Systems Corp., Bruker, and Mediso Ltd.


Burlingame, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The global Spinal Imaging Market, valued at $2.10 billion in 2023, is on a trajectory of rapid expansion, with projections indicating it will soar to $3.19 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2031, as per a recent report by Coherent Market Insights. Increasing demand for advanced medical imaging technologies for accurate diagnosis and monitoring of diseases. Secondly, rising prevalence of chronic and lifestyle diseases is also fueling market growth. Diseases like cancer, heart diseases, diabetes etc. have increased manifold over last few decades. Medical imaging helps in effective diagnosis and staging of chronic diseases which drives their adoption. On advanced spinal imaging to properly manage serious spinal trauma cases. As risks of spinal injuries increase due to more high-risk recreational activities, imaging demand is projected to keep growing over the coming years.

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Market Dynamics:

The growth of the global spinal imaging market is attributed to the increasing incidence of spinal disorders and rise in geriatric population. Spinal disorders such as herniated discs, spinal stenosis and spondylolisthesis are common among the elderly population, thereby contributing to the market growth. It is estimated that approximately 80% of the population suffers from back pain at some point in their lifetime. This has increased the demand for advanced spinal imaging modalities for accurate diagnosis and treatment planning. Moreover, technological advancements in spinal imaging such as high resolution imaging and 3D/4D imaging is also expected to support the market growth over the forecast period.

Global Spinal Imaging Market Report Coverage

Report CoverageDetails
Market Revenue in 2023$2.10 billion
Estimated Value by 2031$3.19 billion
Growth RatePoised to grow at a CAGR of 5.4%
Historical Data2019–2023
Forecast Period2024–2031
Forecast UnitsValue (USD Million/Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Product, By Application, By End Use
Geographies CoveredNorth America, Europe, Asia Pacific, and Rest of World
Growth Drivers• Rising incidence of spine disorders

• Technological advancements in imaging modalities
Restraints & Challenges• High cost of imaging systems

• Strict regulatory framework

Market Trends:

Growing adoption of hybrid imaging systems: Integration of advanced technologies such as CT, MRI, and PET in a single system allows anatomical as well as functional assessment of the spinal region. This has gained significant popularity among healthcare providers due to advantages such as high resolution images, shorter scan time and better clinical outcomes. Rise in minimally invasive spinal surgeries: Increased adoption of percutaneous vertebroplasty and kyphoplasty procedures over traditional surgeries is expected to support the market growth. Precise pre-operative imaging enables surgeons to perform these procedures with minimally invasive techniques resulting in shorter hospital stays and recovery times.

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X-ray imaging accounts for the largest share of the global spinal imaging market owing to its low cost and wide availability. X-rays are commonly used as the first-line imaging test to diagnose conditions affecting the bones and soft tissues of the spine. It allows detection of fracture, dislocations, tumors and infections of the spine. Though it does not provide high resolution images of soft tissues like MRI, it is widely used for initial assessment and screening purposes.

CT imaging is expected to witness steady growth at a CAGR of 5% during the forecast period. CT scanning provides very detailed images of bones, soft tissues and blood vessels. It is particularly useful for evaluating bone implants or hardware after spine surgery. Advanced CT technologies like CT myelography and CT arthrography are being increasingly used for detailed evaluation of spinal discs, nerves and facet joints.

Key Market Takeaways:

The global spinal imaging market is anticipated to witness a CAGR of 5.4% during the forecast period 2023-2030, owing to rising incidences of spinal disorders and growing geriatric population.

On the basis of product, the X-ray segment is expected to hold a dominant position, owing to its widespread availability and low cost.

On the basis of application, the spinal infection segment is expected to dominate the market due to increasing cases of spinal infections.

On the basis of end user, the hospital segment is expected to hold a dominant position over the forecast period, due to availability of advanced imaging facilities.

On the basis of region, North America is expected to hold a dominant position over the forecast period, due to well developed healthcare infrastructure and rising healthcare spending.

Key players operating in the global spinal imaging market include Shimadzu Corp., FUJIFILM, Hitachi, Lts., Toshiba Medical Systems, Inc., GE Healthcare, Koninklijke Philips N.V. Siemens Healthineers, Canin Medical System Corp, Bruker, and Mediso Lrd. Technological advancements and new product launches are shaping the competitive landscape.

Recent Developments:

In June 2023, GE Healthcare and digital solutions innovator entered into a distribution agreement with DePuy Synthes.

In May 22023, Hoag Spine Center, become the first in Orange County, U.S. to adopt the EOSedge System, a cutting-edge technology that combines multiple imaging techniques to better diagnose and treat back pain in adults.

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Detailed Segmentation:

By Product:

  • X-ray
    • Myelogram
    • Discogram
    • X-ray (without contrast media)
  • CT
    • Myelogram
    • Discogram
    • X-ray (without contrast media)
  • MRI
  • Ultrasound

By Application:

  • Spinal Infection
  • Vertebral Fractures
  • Spinal Cancer
  • Spinal Cord & Nerve Compressions

By End Use:

  • Hospital
  • Diagnostic Imaging Center
  • Ambulatory Care Center

By Region:

North America:

  • U.S.
  • Canada

Latin America:

  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America

Europe:

  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe

Asia Pacific:

  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific

Middle East:

  • GCC Countries
  • Israel
  • Rest of Middle East

Africa:

  • South Africa
  • North Africa
  • Central Africa

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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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