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Spinal Imaging Market Size, Share & Growth | Forecast [2030]

Spinal Imaging Market

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Segments - by Products (Ultrasound, CT [X-ray, Discogram, and Myelogram], and MRI), Applications (Spinal Cancer, Spinal Infection, Spinal Cord & Nerve Compressions, and Vertebral Fractures), End-users (Ambulatory Care Center, Diagnostic Imaging Center, and Hospital), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028

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Report Description

The global spinal imaging market size was valued at 1.45 billion in 2020 and is anticipated to expand at a substantial CAGR during the forecast period, 2021-2028. The expansion of the market is attributed to the increasing incidence of spinal disorders across the globe. An increase in the accessibility of imaging services by the patients and the rising number of spinal surgeries are also expected to fuel the market growth.

A surgical technique that enables preoperative exploration of surgical instruments is known as image guidance. Spinal imaging as an advanced technology helps to provide the real-time anatomy of a patient and in three dimensions (3D) before and after the surgery procedures. The results of the procedures are shown on the computer screen. It is a combination of computer technology and X-ray that enable surgeons to analyze complex procedures of spinal cord. These are also used to diagnose and detect if any abnormality is present in the part of the body. As per the report by the World Health Organization (WHO), the second most reason due to which people prefer a medical consultation is lower back pain. It is also anticipated that 80% of individuals across the globe are subjected to be affected by back pain at least once in their lifetime.

The COVID-19 pandemic has had negative impact on the market as non-COVID health issues are largely neglected and patients had to wait or delay their diagnostic or treatment as several clinics and hospitals are packed with COVID patients only. As a result of the prolonged emergency lockdown and movement restrictions impacted by the pandemic, the global supply chain and production of new treatment devices were delayed drastically.

Market Trends, Drivers, Restraints, and Opportunities

Increasing geriatric population base who are habitual to sedentary lifestyle and wide prevalence of obesity among them are anticipated to fuel the market growth.
Conventional imaging modalities lack visibility as spinal discs and have complex structures due to which usage of modern spinal imaging such as MRI and CT are highly preferred. This is expected to propel the market growth.
Using the concept of machine learning in spinal imaging along with the technological advancements made in both hardware & software are expected to boost the market expansion in the coming years.
High cost of using spinal imaging methods for the treatment of spinal cord-related issues is a key challenge that can hamper the market growth during the forecast period.
Rising number of healthcare projects and growing need for substitution of imaging equipment in developed regions are projected to create lucrative opportunities for market growth.

Scope of the Report

The report on the global spinal imaging market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Spinal Imaging Market – Global Industry Analysis, Growth, Share, Size, Trends, And Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Products (Ultrasound, CT [X-ray, Discogram, and Myelogram], and MRI), Applications (Spinal Cancer, Spinal Infection, Spinal Cord & Nerve Compressions, and Vertebral Fractures), and End-users (Ambulatory Care Center, Diagnostic Imaging Center, and Hospital)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Toshiba Medical Systems, Inc.; Siemens Healthineers; Bruker; Mediso Ltd.; Canon Medical Systems Corp.; Shimadzu Corp.; GE Healthcare; FUJIFILM; Hitachi, Ltd.; and Koninklijke Philips N.V.

Market Segment Insights

CT segment is anticipated to grow at a considerable rate

On the basis of products, the global spinal imaging market is divided into ultrasound, CT, and MRI. The CT segment is further divided into x-ray, discogram, and myelogram. The MRI segment is projected to account for a large market share in the coming years due to excellent spatial resolution, high soft-tissue contrast, along with multiplanar imaging capabilities provided by the devices. Moreover, the imaging time taken for diagnosis by MRI has also been reduced due to the availability of advanced MRI scanners that have low signal to noise ratio and strong magnetic strength. This has resulted in an improvement in the compliance of patients and a low rate of installation.

However, the CT segment is anticipated to grow at a considerable CAGR during the forecast period attributed to rising healthcare costs in developing regions. CT is the most common imaging technology referred by professionals when an individual is suffering from lower back pain. Such imaging technologies provide information on the most common spinal alignments that include spinal tumors, fractures, and spondylitis. The patients, whose bodies are implanted with foreign metallic bodies such as aneurysm clips, pedicles, and screws, have preferred CT to MRI as the latter device can disturb the diagnostic results.

Spinal cord & nerve compressions segment is expected to expand at a high CAGR

Based on applications, the market is segmented into spinal cancer, spinal infection, spinal cord & nerve compressions, and vertebral fractures. The spinal cord & nerve compressions segment is expected to expand at a high CAGR during the forecast period owing to increasing incidence of spinal disorders such as cauda equina syndrome, herniated disc, radiculopathy, and spinal stenosis. On the other hand, the vertebral fractures segment is anticipated to grow at a significant rate in the coming years due to the advancement of imaging tools that include PET and MRA.

The spinal infection segment, however, is anticipated to expand significantly during the forecast period. The application is used for the diagnosis of spinal infections such as discitis, epidural abscess, and vertebral osteomyelitis. The market growth is attributed to the wide prevalence of cancer, drug abuse, diabetes, and others.

Hospital segment is estimated to dominate the market

On the basis of end-users, the global spinal imaging market is segmented into ambulatory care center, diagnostic imaging center, and hospital. The hospital segment is estimated to dominate the market during the projected period owing to the presence of advanced imaging tools in hospitals. However, the diagnostic imaging center segment is projected to grow at a considerable rate in the coming years due to the availability of accreditation boards for diagnostics, low cost of CT & MRI scans, and development of favorable regulatory frameworks. The acceptance of ambulatory care center is increasing in the rural areas owing to which the ambulatory care center segment is anticipated to expand at a fast CAGR during the forecast period.

North America is anticipated to dominate the market

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a major share of the market in 2019 and is anticipated to dominate the market during the forecast period attributed to increasing cases of spinal surgeries and increasing demand for products in the region. The growing urge for early & accurate diagnostic solutions is also propelling the spinal imaging market. On the other hand, the market of Europe is expected to grow at a significant rate during the forecast period attributed to improvement in easy accessibility to healthcare services and availability of favorable reimbursement policies in the region. The market of Asia Pacific, however, is expected to grow at a fast pace during the projected period due to the presence of a huge patient base, government initiatives that are favorable, and improvement in healthcare facilities.

Segments

The global spinal imaging market has been segmented on the basis of

Products

Ultrasound
CT
- X-ray
- Discogram
- Myelogram
MRI

Applications

Spinal Cancer
Spinal Infection
Spinal Cord & Nerve Compressions
Vertebral Fractures

End-users

Ambulatory Care Center
Diagnostic Imaging Center
Hospital

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Toshiba Medical Systems, Inc.
Siemens Healthineers
Bruker
Mediso Ltd.
Canon Medical Systems Corp.
Shimadzu Corp.
GE Healthcare
FUJIFILM
Hitachi, Ltd.
Koninklijke Philips N.V.

Competitive Landscape

Key players competing in the global spinal imaging market are Toshiba Medical Systems, Inc.; Siemens Healthineers; Bruker; Mediso Ltd.; Canon Medical Systems Corp.; Shimadzu Corp.; GE Healthcare; FUJIFILM; Hitachi, Ltd.; and Koninklijke Philips N.V. Many of these players have adopted business strategies such as launch of new products, advancement of technologies, partnerships, mergers, and production capacity expansion in order to increase their consumer base and expand their market position globally. For example, MAGNETOM Lumina 3T, a MRI scanner by Siemens Healthineers, was approved by the US Food and Drugs Administration (FDS) in January 2019.

Spinal Imaging Market by key players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Spinal Imaging Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Spinal Imaging Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Spinal Imaging Market - Supply Chain
  4.5. Global Spinal Imaging Market Forecast
     4.5.1. Spinal Imaging Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Spinal Imaging Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Spinal Imaging Market Absolute $ Opportunity
5. Global Spinal Imaging Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Spinal Imaging Market Size and Volume Forecast by Applications
     5.3.1. Spinal Cancer
     5.3.2. Spinal Infection
     5.3.3. Spinal Cord & Nerve Compressions
     5.3.4. Vertebral Fractures
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Spinal Imaging Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Spinal Imaging Market Size and Volume Forecast by End Users
     6.3.1. Ambulatory Care Center
     6.3.2. Diagnostic Imaging Center
     6.3.3. Hospital
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Spinal Imaging Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Spinal Imaging Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Spinal Imaging Demand Share Forecast, 2019-2026
8. North America Spinal Imaging Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Spinal Imaging Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Spinal Imaging Market Size and Volume Forecast by Applications
     8.4.1. Spinal Cancer
     8.4.2. Spinal Infection
     8.4.3. Spinal Cord & Nerve Compressions
     8.4.4. Vertebral Fractures
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Spinal Imaging Market Size and Volume Forecast by End Users
     8.7.1. Ambulatory Care Center
     8.7.2. Diagnostic Imaging Center
     8.7.3. Hospital
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Spinal Imaging Demand Share Forecast, 2019-2026
9. Latin America Spinal Imaging Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Spinal Imaging Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Spinal Imaging Market Size and Volume Forecast by Applications
     9.4.1. Spinal Cancer
     9.4.2. Spinal Infection
     9.4.3. Spinal Cord & Nerve Compressions
     9.4.4. Vertebral Fractures
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Spinal Imaging Market Size and Volume Forecast by End Users
     9.7.1. Ambulatory Care Center
     9.7.2. Diagnostic Imaging Center
     9.7.3. Hospital
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Spinal Imaging Demand Share Forecast, 2019-2026
10. Europe Spinal Imaging Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Spinal Imaging Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Spinal Imaging Market Size and Volume Forecast by Applications
     10.4.1. Spinal Cancer
     10.4.2. Spinal Infection
     10.4.3. Spinal Cord & Nerve Compressions
     10.4.4. Vertebral Fractures
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Spinal Imaging Market Size and Volume Forecast by End Users
     10.7.1. Ambulatory Care Center
     10.7.2. Diagnostic Imaging Center
     10.7.3. Hospital
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Spinal Imaging Demand Share Forecast, 2019-2026
11. Asia Pacific Spinal Imaging Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Spinal Imaging Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Spinal Imaging Market Size and Volume Forecast by Applications
     11.4.1. Spinal Cancer
     11.4.2. Spinal Infection
     11.4.3. Spinal Cord & Nerve Compressions
     11.4.4. Vertebral Fractures
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Spinal Imaging Market Size and Volume Forecast by End Users
     11.7.1. Ambulatory Care Center
     11.7.2. Diagnostic Imaging Center
     11.7.3. Hospital
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Spinal Imaging Demand Share Forecast, 2019-2026
12. Middle East & Africa Spinal Imaging Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Spinal Imaging Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Spinal Imaging Market Size and Volume Forecast by Applications
     12.4.1. Spinal Cancer
     12.4.2. Spinal Infection
     12.4.3. Spinal Cord & Nerve Compressions
     12.4.4. Vertebral Fractures
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Spinal Imaging Market Size and Volume Forecast by End Users
     12.7.1. Ambulatory Care Center
     12.7.2. Diagnostic Imaging Center
     12.7.3. Hospital
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Spinal Imaging Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Spinal Imaging Market: Market Share Analysis
  13.2. Spinal Imaging Distributors and Customers
  13.3. Spinal Imaging Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Toshiba Medical Systems, Inc.
     13.4.2. Siemens Healthineers
     13.4.3. Bruker
     13.4.4. Mediso Ltd.
     13.4.5. Canon Medical Systems Corp.
     13.4.6. Shimadzu Corp.
     13.4.7. GE Healthcare
     13.4.8. FUJIFIL

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