Global spine X-ray and computed tomography market size reached USD 958.7 Million in 2021 and is expected to register a revenue CAGR of 5.87% during the forecast period, according to a latest analysis by Emergen Research.
Global spine X-ray and computed tomography market size reached USD 958.7 Million in 2021 and is expected to register a revenue CAGR of 5.87% during the forecast period, according to a latest analysis by Emergen Research. Key factors expected to drive market growth during 2022-2030 are increasing number of trauma cases, technological advancements, and rising preference for minimally invasive procedures. However, high cost associated with the procedure is expected to restraint the market growth to a certain extent.
Computed Tomography (CT) is a non-invasive medical imaging technique used to produce high-quality cross-sectional images of the spine, thereby providing detailed information about the structure and function of the spine. The rising prevalence of degenerative spinal disorders, such as spondylolisthesis, scoliosis, and kyphosis, is expected to boost the growth of the market.
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According to the National Spine Patient Outcomes Research Trial (NSPORT), approximately 3% of the U.S. population suffers from degenerative spondylolisthesis, while 6%-7% of the population is affected by scoliosis. Moreover, around 500,000 people in the U.S. suffer from kyphosis, while nearly 2 million people are affected by spondylosis. Thus, the increasing prevalence of degenerative spinal disorders is expected to fuel market growth over the forecast period.
The rising number of trauma cases is also expected to drive market growth. According to the National Trauma Data Bank (NTDB) Research Data Dictionary, there were nearly 1.7 million hospitalizations due to trauma in the U.S. in 2017. Moreover, around 36.5% of these hospitalizations were due to falls, while 17.3% were due to motor vehicle accidents. Thus, the increasing number of trauma cases is expected to propel market growth over the forecast period.
In addition, the increasing number of FDA approvals is also expected to drive market growth. For instance, in November 2019, Canon Medical Systems Corporation received FDA approval for its Vantage Orian 1.5T MRI system. The system is designed for use in a variety of applications, including spine and brain imaging. Thus, the increasing number of FDA approvals is expected to boost market growth over the forecast period.
However, the high cost of X-ray and CT machines is expected to restraint market growth over the forecast period. For instance, according to the National Sleep Foundation, a full-body CT scan can cost anywhere from USD 1,000 to USD 3,000, while a brain CT scan can cost up to USD 6,000. Thus, the high cost of X-ray and CT machines is expected to hamper market growth over the forecast period.
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Some Key Highlights From the Report
- The spinal fractures segment revenue is expected to register a substantially rapid CAGR during the forecast period due to the high prevalence of osteoporosis and the resulting rise in spinal fractures globally.
- The hospitals segment is expected to account for the largest revenue share over the forecast period due to the rising demand for X-ray and computed tomography in this sector.
- The home care segment is expected to register the highest growth rate over the forecast period due to the growing preference for home care among patients.
- The North America region is expected to account for the largest revenue share of the global X-ray and computed tomography market over the forecast period. This is due to the presence of a large number of key players in this region.
- Asia Pacific is expected to register a rapid revenue growth rate in the spine X-ray and computed tomography market over the forecast period due to the rampant growth of the medical tourism industry in this region. According to the World Bank, Thailand, Malaysia, and Singapore are among the top 10 countries for medical tourism. The government initiatives undertaken by these countries to promote their healthcare sector is also expected to contribute to the market growth in Asia Pacific over the forecast period.
- Some major companies in the global market report include Fujifilm Holdings Corporation, GE Healthcare, Siemens Healthcare GmbH, Shimadzu Corporation, Toshiba Medical Systems Corporation, Carestream Health, Inc., Hitachi Medical Corporation, Hologic, Inc., Imagen Technologies, Inc., and Qure.ai Technologies Pvt. Ltd.
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Emergen Research has segmented the global spine X-ray and computed tomography market on the basis of product, application, end-use, and region:
- Product Outlook (Revenue, USD Million, 2019–2030)
- X-Ray Devices
- Computed Tomography Devices
- Ai-Enabled Radiology Devices
- Others
- Application Outlook (Revenue, USD Million, 2019–2030)
- Spinal Fractures
- Spinal Tumors
- Vertebral Infections
- Spinal Deformities
- Others
- End-Use Outlook (Revenue, USD Million, 2019–2030)
- Hospitals
- Clinics
- Diagnostic Centers
- Others
- Regional Outlook (Revenue, USD Million, 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
- North America
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