The Global Spinal Imaging Market is driven by growing demand for minimally invasive procedures
The global spinal imaging market consists of diagnostic imaging equipment and services used to visualize the spine and related structures. Spinal imaging aids the diagnosis of various spine-related conditions such as deformities, fractures, tumors, infections and injuries. Popular imaging modalities in this market include X-ray, CT, MRI and ultrasound. X-ray systems are commonly used as the initial screening tool due to their cost-effectiveness and radiation-free nature. However, advanced modalities like CT and MRI provide high-resolution images of soft tissues and bones, enabling accurate diagnosis.
The Global Spinal Imaging Market Size is estimated to be valued at US$ 2.10 billion in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period between 2024 to 2031.
Key Takeaways
Key players operating in the global spinal imaging are Shimadzu Corp., FUJIFILM, Hitachi, Ltd., Toshiba Medical Systems, Inc., GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Canon Medical Systems Corp., Bruker, and Mediso Ltd.
The growing demand for minimally invasive surgical procedures is fueling the demand for high-precision spinal imaging modalities. Advanced imaging aids in pre-operative planning and navigation during complex spinal surgeries.
Manufacturers are also expanding their geographical presence through acquisitions and partnerships. For instance, in 2021, Canon Medical acquired CorVascular Diagnostics to enhance its global footprint in vascular imaging.
Market drivers
The increasing incidence of spinal disorders due to sedentary lifestyle and obesity is a major factor driving the spinal imaging market. Spinal disorders like spinal stenosis and scoliosis are highly prevalent in aging populations. Moreover, rising healthcare expenditures in emerging nations enable greater access to advanced imaging technology. Growing demand for ambulatory surgical centers and outpatient imaging centers also contributes to market growth by increasing the utilization of spinal scans. Favorable government initiatives and investments in this area are further promoting early diagnosis and treatment through quality imaging services.
The current geopolitical tensions between various nations are impacting the growth of the global spinal imaging market. The ongoing Russia-Ukraine conflict and sanctions have disrupted supply chains and increased costs for many medical equipment manufacturers. This has made important imaging devices slightly more expensive. The healthcare budgets of some nations engaged in conflicts have also been diverted to military spending rather than upgrade of medical infrastructure. This has temporarily slowed down the installation of new advanced spinal imaging systems in certain regions.
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