GLOBAL SPINAL IMAGING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global spinal imaging Market size was valued at US$ 2.10 Bn in 2023 and is expected to reach US$ 3.19 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

Spinal imaging enables the assessment of the spine and its surrounding structures. There are various techniques used to image the spine including x-ray, CT, MRI, and ultrasound. X-ray is the most basic and widely used method to evaluate the bones of the spine.

Global Spinal Imaging Market- Regional Insights

• North America is expected to be the largest market for spinal imaging during the forecast period, accounting for over 40.1% of the market share in 2023. North America has dominated the global spinal imaging market for many years owing to high healthcare expenditure and widespread adoption of advanced spinal imaging technologies in the region. Majority of the key market players are headquartered in countries like the U.S. and Canada which has helped North America gain significant industry presence. Furthermore, North American countries have a large pool of skilled radiologists and neurologists who frequently rely on spinal imaging for diagnosing various spine-related conditions. The rising prevalence of degenerative disc diseases and spinal injuries has also propelled the demand for spinal imaging procedures in hospitals and diagnostic centers across the region.
• Asia Pacific is expected to be the second-largest market for spinal imaging, accounting for over 29.2% of the market share in 2023. Asia Pacific has emerged as the fastest growing regional market over the past decade driven predominantly by China and India. Significant improvements in healthcare infrastructure and increasing healthcare spending from private and public sources are helping more hospitals acquire state-of-the-art spinal imaging systems in Asia Pacific countries. In addition, growing medical tourism across Asia Pacific nations has encouraged local facilities to strengthen their diagnostic capabilities to cater to international patients. This has translated into higher import volumes of spinal MRI and CT scanners in the region. More importantly, expanding geriatric population base which is susceptible to age-related spinal disorders has boosted the need for diagnostic imaging tests. The gigantic patient population along with growing economy is likely to continue benefiting the spinal imaging landscape in Asia Pacific region in the foreseeable future. Rising affluence has also increased the affordability of spinal imaging scans among general population.
• Europe is expected to hold a promising market share of 17.7% during the forecast period. The spinal imaging market in Europe is witnessing growth due to an aging population, rising spinal disorders, and advancements in imaging technologies. Increasing awareness, improved healthcare infrastructure, and a focus on early diagnosis contribute to market expansion. Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) scans dominate the sector, offering detailed insights into spinal conditions. The demand for minimally invasive procedures and a surge in spine-related surgeries further propel market growth. Key players in the region are investing in innovative imaging solutions, contributing to a competitive landscape.

Analyst’s View:

The spinal imaging market is poised to witness steady growth over the next five years. Advancements in imaging technologies such as MRI and CT scanners that provide high-resolution images are driving adoption. Increased affordability and accessibility of these devices are also fueling market expansion. The prevalence of spinal disorders due to changing lifestyles and aging population are the key growth drivers. Moreover, rising incidence of trauma and accident cases requiring spinal surgery is propelling the demand for spinal imaging. North America currently dominates the market owing to high healthcare spending and early technology adoption across care facilities in the region. Asia Pacific is expected to be the fastest growing market attributed to growing medical tourism, rising incidence of spinal problems, and increasing investments by both public and private sectors.

Nonetheless, stringent regulations surrounding new product approvals may delay the launch of innovative solutions. High installation and maintenance costs of newer imaging systems act as a restraint, specifically in price-sensitive developing markets. Reimbursement issues associated with costly spine surgeries and related diagnostic tests also hinder the market growth to some extent. Slower than expected replacement rate of older devices poses a challenge for new systems. However, growing health awareness and increasing disposable income in emerging nations will likely provide new opportunities over the coming years.

Figure 1. Global Spinal Imaging Market Share (%), By Region, 2023

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Global Spinal Imaging Market- Drivers

• Rising incidence of spine disorders: The rising incidence of spine disorders across the globe is a major factor fueling the growth of the spinal imaging market. Various studies by organizations like the World Health Organization and National Institutes of Health have found a sharp rise in spine issues like herniated disc, spinal stenosis, degenerative disc disease, and spondylolisthesis owing to sedentary lifestyles and poor posture habits prevalent in modern times. As per WHO, low back pain is now the single leading cause of disability worldwide with over 600 million people suffering from it annually. With growing awareness and an aging population profile, there is an increasing dependency on spinal imaging tests for quick diagnosis and treatment evaluation of such conditions. Advanced non-invasive imaging modalities like MRI, CT myelography, and X-rays allow doctors to clearly visualize the anatomical structures of the spine and detect abnormalities. This helps in precisely pinpointing the underlying cause of pain or neurological symptoms. For patients, accurate diagnosis enables timely intervention plans with targeted therapies like physiotherapy, pain medications, or surgeries in severe cases. As per National Institutes of Health data, in the U.S. alone, annual MRI scans for spinal issues have risen from 7 million in 2010 to over 12 million in 2021, reflecting higher acceptance of these techniques.
• Technological advancements in imaging modalities: Technological advancements in the field of imaging modalities are significantly driving the growth of the spinal imaging market. Advanced techniques like Multi slice CT scanning and high-resolution MRI have improved the diagnostic capabilities of clinicians. MRI has enhanced soft tissue contrast allowing doctors to detect lesions and abnormalities in spinal discs, nerves, and bone marrow with high accuracy. CT scanning with its ability to generate 3D reconstructed images expedites the diagnosis of complex spinal fractures and deformities. This has reduced dependency on invasive diagnostic procedures to an extent.

Global Spinal Imaging Market- Opportunities

• Development of hybrid imaging systems: Hybrid imaging systems that combine anatomical and functional modalities could unlock new opportunities in the spinal imaging market. Integrating modalities such as MRI and Positron emission tomography (PET) within the same imaging system allows clinicians to gain complementary biological and anatomical data from a single scan. This provides a more comprehensive view of the spine compared to individual modalities alone. Many spinal conditions involve both structural abnormalities and physiological changes. Hybrid imaging could help improve diagnosis, treatment planning, and monitoring of such multi-factorial conditions. For example, degenerative disc disease may show visible signs of wear-and-tear on MRI, but understanding the pathophysiology through PET tracer uptake could reveal ongoing inflammatory processes. Simultaneous acquisition of MRI and PET data could help differentiate aggressive from benign sub-types and guide management strategies accordingly.
• Increasing adoption of minimally invasive spine surgeries: The rise of minimally invasive techniques for spinal surgeries has provided a major tailwind for the spinal imaging market in recent years. Minimally invasive procedures require advanced visualization and image guidance technologies during surgery to minimize incisions and tissue disruption. This has led to the growing demand for intraoperative imaging solutions like C-arms, O-arm surgical imaging systems, and 3D navigation systems that use CT or fluoroscopy images to help guide instruments and implants. According to a 2020 study by the National Center for Biotechnology Information, the use of minimally invasive techniques for lumbar decompression and fusion surgeries jumped from around 30% to nearly 70% from 2010 to 2018 in the U.S. As these procedures continue gaining popularity due to benefits like reduced recovery times and hospital stays, the need for high-quality surgical imaging is also expanding.

Global Spinal Imaging Market- Trends

• Artificial Intelligence in medical imaging: The growing application of artificial intelligence (AI) in medical imaging is positively impacting the spinal imaging market. AI tools are allowing radiologists and clinicians to more efficiently analyze the vast amount of data generated from imaging exams like MRI and CT scans of the spine. By leveraging technologies like deep learning algorithms, AI systems can rapidly scan images and identify areas that indicate potential abnormalities or issues. This affords clinicians more time to dedicate to diagnosing conditions and personalizing treatment plans for patients rather than spending countless hours poring over images. AI is especially valuable for streamlining the detection of common spinal issues like herniated discs, spinal stenosis, fractures and other problems. For example, a study by the National Institutes of Health found that an AI platform could reliably detect herniated discs in lumbar MRI scans with 97% accuracy, outperforming unaided clinicians.
• Point-of-care ultrasound devices: The point-of-care ultrasound devices trend is having a major impact on the spinal imaging market. POCUS technology is becoming increasingly portable and affordable, allowing physicians to quickly examine the spine without needing to schedule expensive MRI or CT scans. This has significantly changed clinical workflows and decision making around spinal issues. Where previously a primary care physician may have immediately referred patients with suspected spinal problems for further scans and specialist consultations, they can now get a preliminary picture of the spine using a POCUS device in the clinic. This helps rule out serious issues or guide more targeted scans. As such, POCUS is helping reduce unnecessary advanced scans and referrals in some cases. It also facilitates faster diagnosis and treatment planning compared to scheduling an MRI.

Global Spinal Imaging Market - Restraints

• High infrastructure and setup costs of spinal imaging platforms: The high cost of imaging systems is indeed a major factor restraining the growth of the spinal imaging market. Spinal imaging technologies, such as CT scanners, MRI machines and other advanced medical imaging equipment, require a significant capital investment which many hospitals and healthcare facilities in both developed and developing nations are unable to afford. This financial barrier restricts the accessibility and availability of important diagnostic technologies needed for spine care. With rising equipment prices, it has become increasingly challenging for both public and private healthcare systems to procure the latest spinal imaging devices. According to data from the World Bank, government spending on healthcare as percentage of GDP averages at just 3-5% for many low and lower-middle income countries.
• Strict regulatory framework: Strict regulatory norms and guidelines related to spinal imaging modalities are causing impediments in the growth of the spinal imaging market. Various countries have implemented stringent rules regarding the use of ionizing radiations for diagnostic purposes like MRI and CT scans. This is being done to minimize the risks of radiation exposure to patients. Moreover, regulatory authorities have made it mandatory for healthcare facilities to comply with various quality certifications and accreditations to deploy spinal imaging devices. Obtaining these certifications involve time-consuming documentation and inspections which increases the cost and complexity for installations.

Figure 2. Global Spinal Imaging Market Share (%), By Product, 2023

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Global Spinal Imaging Market- Recent Developments

Business Development Activities by the Market Players

• On June 21, 2023, GE Healthcare, a leading global medical technology and digital solutions innovator entered into a distribution agreement with DePuy Synthes, the orthopaedics company of Johnson & Johnson, an American multinational, pharmaceutical, and medical technologies corporation to bring GE HealthCare’s OEC 3D Imaging System, in conjunction with DePuy Synthes’ extensive product portfolio, to more surgeons and patients across the U.S. This new collaboration demonstrates GE HealthCare’s ongoing commitment to bring exceptional imaging technologies to clinicians providing patient care through the practice of some of healthcare’s most complex spine procedures.
• On May 24, 2023, Hoag Spine Center, a spinal surgery techniques and diagnoses company, became the first in Orange County, U.S. to adopt the EOSedge System, a cutting-edge technology that combines multiple imaging techniques to better diagnose and treat back pain in adults
• On January 3, 2023, DeepTek, a prominent startup in the radiology AI sector, announced the worldwide launch of DeepSpine. This tool, powered by AI, is designed to quantify and measure lumbar spine through the analysis of MRI images. The announcement was made at the annual meeting of the Radiological Society of North America (RSNA) held in Chicago, U.S.

Top Companies in the Global Spinal Imaging Market

• Shimadzu Corp.
• FUJIFILM, Hitachi, Ltd.
• Toshiba Medical Systems, Inc.
• GE Healthcare
• Koninklijke Philips N.V.
• Siemens Healthineers
• Canon Medical Systems Corp.
• Bruker
• Mediso Ltd.

Definition: Spinal imaging involves diagnostic techniques to visualize and assess the spinal column and surrounding structures. Modalities like X-rays, Magnetic Resonance Imaging (MRI), and Computed Tomography (CT) scans are commonly used to diagnose spinal conditions such as fractures, herniated discs, and spinal deformities. These imaging tools provide detailed anatomical information, aiding in the evaluation of spinal disorders, injuries, and degenerative conditions. Spinal imaging plays a crucial role in treatment planning, guiding interventions, and monitoring therapeutic progress. Advancements in technology continue to enhance the precision and efficiency of spinal imaging, contributing to improved patient outcomes in orthopedics and neurology.