Spinal X-Ray and CT Market By Indication (Spinal Tumor, Spinal Fracture, Spinal Infection), Product (X-Ray Devices, CT Devices, AI-Enabled X-Ray and CT Software), Patient Type (Adults, Pediatrics and Neonates), End User (Hospitals and Clinics, Diagnostic Imaging Centers) – Revenue Forecast to 2030

Market Overvew

The global spinal X-ray and CT market accounted for revenue of $917.9 million in 2021, which is expected to reach $1,602.0 million by 2030, advancing at a CAGR of 6.4% during 2021–2030. The proliferating incidence of spinal injuries, advancements in radiological technologies, rising aging population, and emergence of artificial intelligence in medical imaging are boosting the market growth.

The outbreak of the COVID-19 pandemic majorly affected the availability of hospital resources globally; however, radiology departments continued to operate. The most-commonly performed procedures included chest X-rays and CT scans. Furthermore, emergency diagnoses of spinal conditions, such as fractures and infections, were also performed.

Spinal Tumor Diagnosis To Witness Fastest Growth in X-Ray & CT Usage

The spinal tumor category is expected to witness the fastest growth in the market during the forecast period, at a CAGR of more than 7%. This is attributed to the increasing number of cases of spinal cancer worldwide, which is propelling the demand for quick and effective diagnosis and treatment.

Furthermore, spinal infections affect the paraspinal tissue, vertebral body, and intervertebral discs. The increasing prevalence of spinal infections is driving the market growth as diagnosing them is a time-consuming process, which requires the use of multiple imaging modalities.

Adult Population Generates Higher Demand for X-Ray and CT Scans

In 2021, the adult population dominated the spinal X-ray and CT market. This is ascribed to the fact that the geriatric population have a lower bone density, which causes osteoporosis and, consequently, vertebral compression fracture.

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Proliferating Incidence of Spinal Injuries Biggest Driver for Market

The growing incidence of spinal injuries is one of the major factors that drive the spinal CT market. Moreover, the geriatric population is more prone to spinal injuries due to their lower bone density. As per estimates, approximately 20,000 new spinal cord injuries are reported each year in the U.S.

Hospitals and Clinics Generate Highest Revenue

In 2021, the hospitals and clinics category accounted for over 50% revenue share in the market. A greater number of patients visit hospitals than any other medical facility, which makes them the primary diagnosis site for spinal fractures and injuries, especially in emerging economies. Furthermore, hospitals are increasing their spending to acquire advanced radiological modalities, in order to offer accurate results.

Moreover, diagnostic imaging centers are the second-largest category in the market. This is primarily due to the increasing demand for early disease diagnosis and the rising prevalence of associated diseases, and surging investments and grants by public and private organizations.

Collaborations and Partnerships Are Key Trends in Market

• In May 2022, GE Healthcare signed a partnership agreement with Alliance Medical Limited to improve patient access and enhance productivity within hospital radiology departments in the U.K.
  • This includes a $47.40 million (EUR 45 million) agreement to supply more than 70 medical imaging systems over three years across the cardiology, neurology, and oncology segments and a partnership for developing models for diagnostic centers to speed up cancer diagnosis.
• Similarly, in April 2021, Aidoc signed a collaboration agreement with Radiology Partners to integrate the Aidoc AI solutions for medical imaging in healthcare systems and accelerate the adoption of AI as the standard of care in radiology.
  • Thus, having a local company as a partner can greatly impact the marketing strategy of global players, which can lead to positive financial results and a wider consumer base.

CT Devices Captured Highest Share in the Market

In 2021, the CT devices held the largest revenue share in the spine X-ray and CT market. This is because CT scans can generate images that can be reformatted in multiple planes and create a three-dimensional image. A CT device scans the whole spinal cord, thus helping diagnose issues more effectively than an X-ray.

Furthermore, AI-enabled X-ray and CT software is expected to witness the fastest growth during the forecast period. This is due to the advancements in the medical imaging industry and the constant demand to provide cost-effective and high-quality solutions in shorter time.

North America Is Leader in Market

North America led the market, with a revenue share of over 40%, in 2021. This is attributed primarily to the advancements in healthcare technologies, credited to extensive investment-backed R&D, and availability of a rising number of X-ray and CT devices.

Furthermore, APAC is the fastest-growing region, as the regional emerging economies are witnessing significant advancements in radiological technology, along with improvements in the healthcare system. Moreover, the rising incidence of vertebral fractures in the region is expected to significantly drive the growth of the market.

Moreover, the emergence of local companies in APAC and the LAMEA, as well as the vast growth opportunities in emerging economies, bode well for the global spinal X-ray and CT market growth. Developing countries, such as China, India, Brazil, and Mexico, have large populations with spinal injuries and vertebral fractures. This tends to increase the volume of X-ray and CT scans, thus leading to the market growth.

Key Players Are Involved in Product Launches to Gain Significant Position

Further innovation in X-ray and CT systems is expected to be driven by enhanced features such as less radiation exposure and high speed.

Key players operating in the spinal X-ray and CT market have been actively engaged in product launches in order to strengthen their product portfolios and achieve a larger market share. For instance:

• In April 2022, GE Healthcare announced plans to launch the next-generation Revolution Aspire CT scanner in India.
• In March 2021, Koninklijke Philips N.V. launched the AI-enabled Precise Suite solution for its entire line of CT platforms.
• In November 2020, Agfa HealthCare launched RUBEE for AI, to improve radiological efficiency with enhanced decision support.

Key Players in Spinal X-Ray and CT Market Are:

• Fujifilm Holdings Corporation
• GE Healthcare
• Agfa-Gevaert NV
• Arterys Inc.
• Koninklijke Philips N.V.
• Siemens Healthineers AG
• Shimadzu Corporation
• Carestream Health Inc.
• Infervision Medical Technology Co. Ltd.
• Imagen Technologies Inc.
• Nano-x Imaging LTD.

Market Size Breakdown by Segment

The report offers comprehensive market segmentation analysis along with the revenue estimation for the period 2017–2030.

Based on Indication

• Spinal Tumor
• Spinal Fracture
• Spinal Infection

Based on Product

• X-Ray Devices
• CT Devices
• AI-Enabled X-Ray and CT Software

Based on Patient Type

• Adults
• Pediatrics and Neonates

Based on End User

• Hospitals and Clinics
• Diagnostic Imaging Centers

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • U.K.
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America and Middle East & Africa
  • Brazil
  • Mexico
  • South Africa