Market Size of Global Spinal Imaging Treatment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Spinal Imaging Treatment Market Analysis
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.
