Spinal Imaging Market Report 2024: Key Insights and Industry Outlook

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Spinal Imaging Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $2.9 billion In 2028 At A CAGR Of 8.1% :

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.

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Spinal Imaging Market Major Segments
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

Key Driver - Growing Incidence Of Spinal Cord Injuries Fuels Expansion In The Spinal Imaging Market

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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Prominent Trend - Technological Advancements Reshape The Landscape Of The Spinal Imaging Market

Technological advancement is a key trend gaining popularity in the spinal imaging market. Major companies operating in the market are developing new advanced technologies to reinforce their position and meet customer demand. For instance, in March 2021, RIVANNA, a US-based company providing imaging-based medical solutions, launched Accuro Second Generation, a spinal navigation system. This system uses artificial intelligence technology to provide medical solutions. The Accuro spinal navigation system has two key innovations: SpineNav3DTM AI-Based Spine Recognition, which automates the identification of spinal landmarks and depth measurements during spinal needle guidance procedures, and BoneEnhance Multi-Frequency Image Reconstruction, which improves bone-to-tissue contrast for better landmark and needle visualization.

Spinal Imaging Market Players
Major companies operating in the spinal imaging market report are Hitachi Ltd., Novartis AG, Sanofi S.A., 3M Company, Medtronic plc, Siemens Healthineers AG, Fujifilm Corporation, Koninklijke Philips N.V., GE Healthcare Company, Becton Dickinson India Private Limited, Sonic Healthcare Limited, Shenzhen Mindray Bio-Medical Electronics Co Ltd., Canon Medical Systems Corporation, Shimadzu Corporation, Bruker Corporation, Carl Zeiss Meditec AG, MEDNAX Services Inc., Carestream Health Inc., Toshiba Medical Systems Inc., NuVasive Inc., Alliance Healthcare Providers LLP, Samsung Medison Co Ltd., Alphatec Holdings Inc., Invibio Ltd., InHealth Group Ltd., Ramsoft Technologies Private Limited, Narang Medical Limited, Mediso Ltd., 7D Surgical Inc., GPC Medical Limited

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Largest And Fastest Growing Region In The Market
North America was the largest region in the spinal imaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the spinal imaging market share during the forecast period. The regions covered in the spinal imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Spinal Imaging Market Report Structure
3. Spinal Imaging Market Trends And Strategies
4. Spinal Imaging Market - Macro Economic Scenario
5. Spinal Imaging Market Size And Growth
…..
27. Spinal Imaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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