Global Spinal Imaging Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

Global Spinal Imaging Market Overview:

"The Spinal Imaging Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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Like the brain, the spine can be imaged with x-ray, Computed Tomography (CT), ultrasound, and Magnetic Resonance Imaging (MRI). Often performed initially in trauma patients to evaluate for fractures. MRI is much better at evaluating soft tissue structures, including the spinal cord, nerve roots, ligaments, and disks.

The rising incidence of spinal disorders across the globe, the increasing procedural volume of spinal surgeries, as well as the improving accessibility to medical imaging facilities and services are some of the primary factors that are expected to the boost revenue growth of the global spinal imaging market over the next 10 years. Other factors that are slated to contribute to this global market’s future revenue growth are sedentary lifestyles, a booming global geriatric population, and the rising prevalence of depression, anxiety, and obesity.

Over time, intervertebral discs tend to deteriorate, leading to the development of various spinal disorders. Due to the complexity of these discs, the use of conventional imaging modalities will not suffice, as such, is resulting in the increasing usage of CT and MRI scans.

Furthermore, the need to replacement outdated medical equipment in developed economies due to the robust expansion of the private healthcare sector and the rising number of global healthcare projects are also slated to have a positive impact on the global spinal imaging market.

Segmentation of the global spinal imaging market is as follows:

In terms of product, the MRI segment accounted for the majority revenue share of the global spinal imaging market in 2019. This can be attributed to MRI scans being able to offer spatial resolution paired with multiplanar imaging capabilities, high soft-tissue contrast, and newer models reducing imaging time, thereby improving patient care levels.

On the basis of application, the spinal cord and nerve compression segment accounted for the majority revenue share of this global market in 2019, and is slated to index the fastest rate of revenue growth over the next 10 years. The other applications segment is also expected to register considerable revenue growth in the foreseeable future.

With respect to end-use, the hospitals segment accounted for the highest number of revenue shares of this global market in 2019, and is expected to continue to do so in the years to come, as hospitals have large patient pools due to the availability of advanced imaging tools. The diagnostic imaging centers segment is also slated to expand significantly in the coming years.

Regional Segmentation and Analysis:

North America accounted for the majority revenue share of the global spinal imaging market in 2019 and is expected to continue to do so over the next decade, due to the rising number of spinal surgeries and high product demand. The markets in Europe are also expected to index considerable revenue growth over the forecast period due to the improving access to healthcare services, better reimbursement policies, as well as the surge in spinal imaging procedural volumes. The APAC region is expected to register the fastest revenue growth rate of the global spinal imaging market shortly, due to favorable government initiatives, a large patient base, and improving healthcare facilities.

Segmentation of the Global Spinal Imaging Market:

Segmentation by Product:

• X-ray

• Myelogram
• Discogram
• X-ray (without contrast media)

• CT

• Myelogram
• Discogram
• X-ray (without contrast media)

• MRI
• Ultrasound

Segmentation by Application:

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

Segmentation by End-Use:

• Hospital
• Diagnostic Imaging Center
• Ambulatory Care Center

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa