Spinal Imaging Treatment Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)

The Spinal Imaging Treatment Market is segmented By Product (X-ray, CT, MRI, Ultrasound), Application (Spinal Infection, Vertebral Fractures, Spinal Cancer), End User (Hospitals, Diagnostic Imaging Center, Ambulatory Care Center) and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

Market Snapshot
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 5.2 %

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Market Overview

The spinal imaging treatment market is expected to register a CAGR of nearly 5.2% over the forecast period (2022-2027).

The Covid-19 pandemic affected the demand for the spinal imaging market in 2020. During the early pandemic, the demand for spinal imaging had reduced due to the lockdown restrictions, suspension of non-urgent scheduled visits and hospitalizations, and stringent social distancing norms. For instance, the research study “Radiological Manifestation of Neurological Complications in the Course of SARS-CoV-2 Infection" was Published in Frontier in Neurology in October 2021, one of the most crucial aspects of diagnosis is using radiological techniques to determine the cause of neurological symptoms linked to SARS-CoV-2 infection. Utilizing radiological imaging techniques to track the emergence of different symptoms is essential to determine the severity and extent of involvement, especially when there is nervous system involvement. Thus, the demand for spinal imaging has increased during COVID-19, however, declined patient visits to the imaging center may hamper the market growth.

Certain factors driving the market growth include the rising global burden of spinal disorders and the rising prevalence of spinal disorders, such as herniated disc, spinal stenosis, cauda equina syndrome, and radiculopathy, expected to drive the growth of the market. Developing patients’ accessibility to medical imaging services and the growing procedural volume of spinal surgeries are further expected to boost the market growth. Moreover, according to the study “Prevalence of spine degeneration diagnosis by type, age, gender, and obesity using Medicare data” published in the Scientific Report in March 2021, Age was a factor in the prevalence of diagnosed spinal degenerative disease, which was 27.3 percent overall. Additionally, according to an article published by the National Center for Biotechnology Information, in 2021, titled “Spinal Cord Injuries”, stated that in the United States, there are approximately 17,000 new cases of spinal cord injuries (SCI) each year. Thus, the increasing prevalence of spinal degeneration and spinal cord injury is anticipated to boost the market growth.

Moreover, rising in the funding for the treatment of the spinal cord injury and diseases treatment from the various private and public sector organization is expected to accelerate the market growth. For instance, In January 2022, Researchers from UBC have taken the lead on a USD 24 million grant for the treatment of spinal cord injuries. Such initiatives supports the market expansion. Furthermore, market players are frequently launching new products and adopting various growth strategies in their respective segments, which is likely to drive market growth. For Instance, in September 2021, Konica Minolta Healthcare Americas, Inc. reported that Dynamic Digital Radiography (DDR) rapidly gaining acceptance in spine centers across the United States due to its ability to capture the physiological motion of the cervical spine (C-spine) and lumbar spine (L-spine) as a patient moves through the full range of motion.

Thus, all aforementioned factors is expected to drive the growth of the market over the forecast period. However, high cost associated with the imaging modality restraint the market growth.

Scope of the Report

As per the scope of the reports, spinal imaging is used to detect any abnormality in the spinal area which can cause problems such as low back pain, neck pain, numbness, tingling, and weakness in your arms and legs. The Spinal Imaging Treatment Market is segmented By Product (X-ray, CT, MRI, Ultrasound), Application (Spinal Infection, Vertebral Fractures, Spinal Cancer), End User (Hospitals, Diagnostic Imaging Center, Ambulatory Care Center) and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments. 

By Product Type
X-ray
CT scan
MRI
Ultrasound
By Application
Spinal Infection
Vertebral Fractures
Spinal Cancer
Spinal Cord and Nerve Compression
By End User
Hospitals
Diagnostic Imaging Center
Ambulatory Care Center
Geography
North America
United States
Canada
Mexico
Europe
United kingdom
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
Middle- East and Africa
GCC
South Africa
Rest of the Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

MRI Segment is expected to dominate the market over the forecast period

The MRI segment held the largest market share in the spinal imaging market. MRI offers high soft-tissue contrast, excellent spatial resolution, and multiplanar imaging capabilities, which helps in spinal investigations. Advanced MRI scanners have elevated magnetic strength (3.0T) and less signal-to-noise ratio (SNR), decreasing imaging time and improving patient compliance and installation rate. According to the study titled "The Role of Magnetic Resonance Imaging to Inform Clinical Decision-Making in Acute Spinal Cord Injury: A Systematic Review and Meta-Analysis" Journal of Clinical Medicine in November 2021, In the initial assessment of spinal trauma, imaging is crucial. MRI had a 40% sensitivity for fracture detection but 100% specificity for spinal cord injury. Thus, the effectiveness of the MRI in the detection of spinal cord injury is expected to drive the demand for MRI systems thereby boosting the segment growth.

The development of cutting-edge products by major market players and technological advancements in products are expected to boost the segment growth. For Instance, in January 2022, Abbott revealed that the United States Food and Drug Administration (FDA) has approved new expanded magnetic resonance imaging (MRI) compatibility for its Proclaim XR Spinal Cord Stimulation (SCS) System with Octrode leads. Under the expanded MRI labeling, patients with a Proclaim XR SCS device can benefit from higher quality images with faster MRI scan times.

The advancement in software development for MRI images helps boost the demand for MRI imaging. In May 2021, Indian Radiology company Synapsica partnered with Aarthi Scans and Labs to deploy its artificial intelligence (AI) assistant named ‘Spindle’ to offer spine magnetic resonance imaging (MRIs) for the diagnostic chain. Spindle automatically reports over 35 degenerative or age-related pathologies in MRI scans of the spine. This helps reduce the time spent by radiologists on spine MRIs by almost 70% and quickly identify and report variations and pathologies to diagnose the disease and quantify the degree of degeneration.

Thus, all aforementioned factors expected to boost the segment growth over the forecast period.

Growth of spinal imaging market

North America is Expected to Have the Significant Market Share

North America holds the major market share and is expected to continue its dominance over the forecast period due to high product demand and rising cases of vertebral surgeries like lumbar discectomy and lumbar fusion. This is attributed primarily to the advancements in healthcare technologies, credited to extensive investment-backed R&D, and the availability of a rising number of X-ray and CT devices which are used to diagnose any compressions or inflammation of the spinal cord and nerves, infection of the vertebrae, discs, spinal cord or tumors in the spinal cord or surrounding areas.

According to an article published by the National Center for Biotechnology Information, in 2021, titled “Spinal Cord Injuries”, stated that in the United States, there are approximately 17,000 new cases of spinal cord injuries (SCI) each year. Moreover, According to the data published by the American Association of Neurological Surgeons, in the June 2021 report, it has been observed that more than 450,000 people in the United States are living with a spinal cord injury (SCI). Additionally, According to an article published by the National Center for Biotechnology Information, in March 2021, titled “Prevalence of Spine Degeneration Diagnosis by Type, Age, Gender, and Obesity Using Medicare Data,” the prevalence rate of diagnosed spinal degenerative disease was found to be 27.3%. Thus, growing the prevalence of the spinal cord disaeses is expected to drive the growth of the market over the forecast period.

Moreover, with the increasing focus of the companies on adopting various business strategies such as product approvals, launches, mergers and acquisitions, and partnerships, withholding their market position is also contributing to the market growth. In November 2020, Siemens Healthineers introduced the LUMINOUS Lotus Max at the Annual Meeting of the Radiological Society of North America (RSNA). It is a 2-in-1 remote-controlled imaging system that seamlessly integrates fluoroscopy and radiography for increased productivity and optimized clinical operations. It also helped in full-spine examinations and basic interventions. In August 2020, Wenzel Spine Inc. announced the acquisition of Statera Spine, a spine imaging analytics company that facilitates treatment for patients with acute and chronic spine issues. Additionally, in February 2020, Alphatec Holdings, Inc. acquired EOS imaging, SA. This transaction will integrate spine imaging and anatomical modeling onto the platform to inform the operative experience.Such regional advancement is expected to boost the market growth in the North American region.

Region

Competitive Landscape

The spinal imaging market is moderately competitive and consists of many major players. Recently, mid-size to smaller companies have emerged, focusing on introducing new technologies. Companies like Bruker, Canon Medical Systems Corp., Fujifilm Medical Systems, and GE Healthcare hold a substantial market share in the spinal imaging market. The key players are Koninklijke Philips N.V, Siemens Healthineers, Mediso Ltd, and Hitachi Ltd.

Recent Development

  • In January 2022, Food and Drug Administration approved new expanded magnetic resonance imaging (MRI) compatibility for Abbott’s Proclaim XR Spinal Cord Stimulation (SCS) System with Octrode Leads.
  • In July 2022, Calyx and Qynapse have joined forces to expand the use of artificial intelligence (AI)-based neuroimaging tools in clinical trials of treatment candidates for conditions affecting the central nervous system (CNS), or the brain and spinal cord.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumption and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rise in the incidences of spinal disorders

      2. 4.2.2 Rise in the funds by private and public sector

      3. 4.2.3 Technological advancements.

    3. 4.3 Market Restraints

      1. 4.3.1 High cost associated with imaging modalities

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 X-ray

      2. 5.1.2 CT scan

      3. 5.1.3 MRI

      4. 5.1.4 Ultrasound

    2. 5.2 By Application

      1. 5.2.1 Spinal Infection

      2. 5.2.2 Vertebral Fractures

      3. 5.2.3 Spinal Cancer

      4. 5.2.4 Spinal Cord and Nerve Compression

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Diagnostic Imaging Center

      3. 5.3.3 Ambulatory Care Center

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 United kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 India

        3. 5.4.3.3 Japan

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle- East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of the Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Canon Medical Systems

      2. 6.1.2 Bruker

      3. 6.1.3 Mediso Ltd.

      4. 6.1.4 GE Healthcare

      5. 6.1.5 Shimadzu Corp.

      6. 6.1.6 Koninklijke Philips NV

      7. 6.1.7 Fujifilm Corporation (Hitachi, Ltd)

      8. 6.1.8 Siemens Healthineers

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Global Spinal Imaging Treatment Market market is studied from 2019 - 2027.

The Global Spinal Imaging Treatment Market is growing at a CAGR of 5.2% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

GE Healthcare, Bruker, Canon Medical Systems, Fujifilm Corporation, Shimadzu Corporation are the major companies operating in Global Spinal Imaging Treatment Market .

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