The Spinal Imaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Spinal Imaging Global Market Report 2024, The spinal imaging market size has grown strongly in recent years. It will grow from $1.96 billion in 2023 to $2.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to aging population and orthopedic conditions, rise in musculoskeletal disorders, advancements in medical imaging technologies, increasing incidence of spinal injuries, growing awareness and healthcare access.
The spinal imaging market size is expected to see strong growth in the next few years. It will grow to $2.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rise in lifestyle-related spinal conditions, increasing surgical interventions, integration of artificial intelligence (AI), expanding access to specialized healthcare services, rising burden of chronic spinal disorders. Major trends in the forecast period include development of multimodal imaging solutions, rise in minimally invasive spinal procedures, increased utilization of cone beam computed tomography (CBCT), integration of picture archiving and communication systems (PACS), focus on functional and dynamic imaging techniques.
The growing volume of spinal cord injuries (SCI) is driving the growth of the spinal imaging market. Damage to the spinal cord or nerves at the end of the spinal canal due to a sudden, traumatic blow to the vertebrae leading to a fracture or loss of function or mobility in different parts of the body is referred to as a spinal cord injury. Spinal imaging plays an important role in the evaluation of acute and chronic spinal injury and plays an essential role in the diagnosis, treatment, and rehabilitation of spinal cord injury (SCI) patients. For instance, in July 2022, the United Spinal Association, a US-based organization, reported that around 17,700 Americans suffer from spinal cord injuries every year. Out of these, roughly 78% are men, and the average age of the patients is 43 years. The majority of spinal cord injuries occur due to vehicular accidents (39.3%), followed by falls (31.8%), violence (13.2%), sports (8%), and medical/surgical procedures (4.3%). Therefore, a growing volume of spinal cord injuries (SCI) is expected to drive the growth of the spinal imaging market.
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The spinal imaging market covered in this report is segmented –
1) By Product: X-Ray, CT, MRI, Ultrasound
2) By Application: Spinal Infection, Vertebral Fractures, Spinal Cancer, Spinal Cord and Nerve Compressions, Other Applications
3) By End-User: Hospital, Diagnostic Imaging Center, Ambulatory Care Center
Major companies operating in the spinal imaging market are increasing their focus on introducing innovative imaging tools, such as DeepSpine, to gain a competitive edge in the market. DeepSpine is an advanced imaging tool that utilizes deep learning techniques to improve the accuracy and efficiency of spine-related medical imaging, which aids in diagnostics and treatment planning. For instance, in January 2023, DeepTek, an India-based technology company, launched DeepSpine, an AI-powered lumbar spine quantification and metrics tool. It is designed to analyze MRI scans of the lumbar spine, providing an AI-powered quantification and analysis solution for lumbar spine MRI studies. The tool aims to help radiologists, technologists, orthopedic surgeons, and physiologists obtain objective, automated quantification and documentation of the lumbar spine.
The spinal imaging market report table of contents includes:
1. Executive Summary
2. Spinal Imaging Market Characteristics
3. Spinal Imaging Market Trends And Strategies
4. Spinal Imaging Market – Macro Economic Scenario
5. Global Spinal Imaging Market Size and Growth
……
32. Global Spinal Imaging Market Competitive Benchmarking
33. Global Spinal Imaging Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Spinal Imaging Market
35. Spinal Imaging Market Future Outlook and Potential Analysis
36. Appendix
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