Spinal Imaging Global Market Report 2024

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 observed in the historical period can be attributed to various factors including an aging population with increased orthopedic conditions, a rise in musculoskeletal disorders among individuals, advancements in medical imaging technologies aiding diagnostics, a noticeable increase in the incidence of spinal injuries, and a growing awareness along with improved access to healthcare services.

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%. Anticipated growth in the upcoming period is expected to stem from several factors, including an increase in lifestyle-related spinal conditions prompting higher surgical interventions, the integration of artificial intelligence (AI) in spinal healthcare, expanded access to specialized healthcare services, and a noticeable rise in the burden of chronic spinal disorders. Major trends projected for the forecast period encompass the development of multimodal imaging solutions tailored for spinal healthcare, a surge in minimally invasive spinal procedures, an increased utilization of cone beam computed tomography (CBCT) for diagnostics, the integration of picture archiving and communication systems (PACS), and a heightened focus on functional and dynamic imaging techniques within spinal diagnostics.

The spinal imaging market is witnessing growth attributed to the increasing incidence of spinal cord injuries (SCI). These injuries, caused by sudden trauma to the spinal cord or nerves, significantly impact mobility and bodily functions. Spinal imaging aids in evaluating and treating these injuries effectively. Reports from the United Spinal Association in July 2022 highlighted around 17,700 annual spinal cord injury cases in the US, predominantly affecting men at an average age of 43. Such injuries stem mainly from vehicular accidents, falls, violence, sports, and medical procedures. Hence, the growing occurrence of SCI is a driving factor for the spinal imaging market.

The spinal imaging market foresees growth owing to an increase in sports-related injuries. These injuries, varying in severity, affect different body parts during athletic activities. Spinal imaging plays a crucial role in diagnosing and formulating treatment plans for such injuries, offering accurate diagnostic insights. In 2022, emergency departments treated 3.2 million individuals for sports and recreational equipment-related injuries, marking a 20% increase from the previous year. This rise indicates the growing need for spinal imaging in managing sports injuries, driving the market's growth.

The spinal imaging sector is witnessing significant advancements driven by major companies aiming to reinforce their market presence and address evolving customer needs. For instance, in March 2021, RIVANNA, a US-based medical solutions provider, launched the Accuro Second Generation spinal navigation system. This innovative system incorporates artificial intelligence technology and introduces two key innovations: SpineNav3DTM AI-Based Spine Recognition and BoneEnhance Multi-Frequency Image Reconstruction. These advancements automate spinal landmark identification, depth measurements during procedures, and improve bone-to-tissue contrast for enhanced visualization.

Leading firms are intensifying efforts to introduce cutting-edge imaging tools such as DeepSpine, aiming for a competitive edge. DeepSpine, launched in January 2023 by DeepTek, is an AI-powered lumbar spine quantification and metrics tool. Designed to analyze MRI scans, it offers a sophisticated solution for lumbar spine MRI studies, aiding radiologists, orthopedic surgeons, and physiologists in obtaining objective, automated quantification and documentation of the lumbar spine.

In August 2022, Wenzel Spine, Inc., a US-based medical technology firm specializing in minimally invasive treatments for spinal diseases, acquired Statera Spine for an undisclosed amount. Through this acquisition, Wenzel Spine offered complete solutions to spine surgeons and their patients with innovative diagnostic and planning tools that complemented their already cutting-edge minimally invasive implant technology. Statera Spine is a US-based software-enabled spine imaging analytics company.

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.

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 countries covered in the spinal imaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products within the spinal imaging market comprise X-ray, CT scans, MRI scans, and Ultrasound. X-rays are employed to assess various spinal areas, while myelography, computed tomography (CT), magnetic resonance imaging (MRI), and bone scans are complementary techniques utilized to detect disorders in the spine, back, or neck. These techniques have diverse applications, including diagnosing spinal infections, vertebral fractures, spinal cancer, spinal cord issues, nerve compressions, among others. They cater to different end-users such as hospitals, diagnostic imaging centers, and ambulatory care centers.

The spinal imaging market research report is one of a series of new reports that provides spinal imaging market statistics, including spinal imaging industry global market size, regional shares, competitors with a spinal imaging market share, detailed spinal imaging market segments, market trends and opportunities, and any further data you may need to thrive in the spinal imaging industry. This spinal imaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The spinal imaging market consists of sales of image processing, image display equipment, storage archiving equipment, and picture archiving and communication system. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.