X-rays use electromagnetic radiation to produce images of internal tissues, bones, and tumors. CT scans are the imaging procedure that uses a combination of X-rays and computer technology to produce horizontal or axial images of the body. X-ray and CT devices are used by end markets such as hospitals, clinics, diagnostic imaging centers, and ambulatory surgical centers.The global spine X-ray and computed tomography market is anticipated to grow rapidly owing to the advancements in the medical imaging industry with the constant demand to provide cost-effective and high-quality solutions in a shorter time period.
The global spine X-ray and computed tomography market report highlights that the market was valued at $916.0 million in 2020 and is expected to reach $1,623.5 million by the end of 2030. The market is expected to grow at a CAGR of 5.91% during the forecast period 2021-2030.
Market Segmentation
Global Spine X-Ray and Computed Tomography (CT) Market (by Indication)
The global spine X-ray and computed tomography market, based on indication, has been segmented into spinal injuries, spinal tumors, and spinal fractures.
Spinal infections are caused by bacteria or fungi and affect the vertebral body, intervertebral disc, or paraspinal tissue. The increasing prevalence of spinal injuries is increasing the growth of the market as the diagnosis of spinal infections is a prolonged process with the usage of various imaging modalities.
Global Spine X-Ray and Computed Tomography (CT) Market (by Patient Type)
The global spine X-ray and computed tomography market, based on patient type, has been segmented into adults, and pediatrics and neonates. The injuries and fractures are caused by several factors such as falls, accidents, and sports injuries. The geriatric population is more susceptible to the injuries caused due to falls. Moreover, various guidelines and policies have been issued by regulatory bodies and agencies for dose safety in pediatric imaging.
Global Spine X-Ray and Computed Tomography (CT) Market (by End User)
The global spine X-ray and computed tomography market, based on end user, has been segmented into hospitals and clinics, diagnostic imaging centers, and ambulatory surgery centers surgical centers.
Hospitals and clinics are the major end users for the global spine X-ray and computed tomography market. The high volume of the end user makes them the primary diagnosis site for spinal injuries in emerging economies. Furthermore, the adoption of X-rays and CT in ASCs has been increased due to several factors such as personalized care to the patients and reduced recovery time.
Global Spine X-Ray and Computed Tomography (CT) Market (by Product)
The global spine X-ray and computed tomography market, based on product, has been segmented into X-ray devices, CT devices, and AI-enabled X-ray and CT software.
The X-ray devices segment is at the forefront of the spine X-ray and computed tomography market. The increasing focus on the inclusion of advanced technology such as AI and machine learning has been one of the strongest drivers for the growth of the X-ray devices segment.
Furthermore, the diagnosis using CT has greatly benefited from the advancements in AI during the past few years. AI-based solutions are presently being used extensively to interpret and prioritize to reduce the backlogs and the physician’s workload.
Global Spine X-Ray and Computed Tomography (CT) Market (by Region)
The different regions covered under the global spine X-ray and computed tomography market include North America, Europe, Asia-Pacific, and Rest-of-the-World.
North America is expected to be the most lucrative region for the global spine X-ray and computed tomography market due to advanced healthcare infrastructure and a high focus on research and development activities. The Asia-Pacific spine X-ray and computed tomography market is one of the lucrative markets with immense potential for expansion by key players of the global spine X-ray and computed tomography market. The Asia-Pacific spine X-ray and computed tomography market is expected to grow at the fastest rate during the forecast period. This can be attributed to the massive geriatric population base, which is driving the increase in the volume of X-ray and CT scans.
Market Growth Drivers
• Increasing Prevalence of Spinal Injuries
• Advent of Artificial Intelligence in Medical Imaging
• Increasing Interest Among Venture Capitalists
Market Challenges
• Potential Risks Associated with Radiation Exposure
• Delay in Regulatory Approvals
Market Opportunities
• Development of AI-Based Digital X-Ray Systems
• High Growth Opportunity in Emerging Economies
• Leveraging Partnerships to Expand Business Opportunities
Key Market Players and Competition Synopsis
Some key players operating in the global spine X-ray and computed tomography market include Agfa-Gevaert NV, Arterys, Inc., Carestream Health, Inc., Enlitic, Inc., Fujifilm Holdings Corporation, General Electric Company, Imagen Technologies, Inc., Infervision Medical Technology Co. Ltd., Koninklijke Philips N.V., Nano-x Imaging LTD., Quibim, S.L., Qure.ai Technologies Pvt. Ltd., Siemens Healthineers AG, Shimadzu Corporation, Vuno Co., Ltd.
Some strategies covered in this segment are funding activities, mergers and acquisitions (MAs), partnerships, alliances, business expansion, regulatory and legal activities, and new offerings.
Key Questions Answered in the Report
• How has COVID-19 impacted the growth of the global spine X-ray and computed tomography market?
• What are the key regulations governing the spine X-ray and computed tomography market in key regions?
• What technological developments are projected to have the maximum influence on the global spine X-ray and computed tomography market?
• Who are the leading players holding significant dominance in the global spine X-ray and computed tomography market?
• What are some of the growth opportunities which market players can capitalize on?
• What are the drivers and restraints for the global spine X-ray and computed tomography market?
• Which region has the highest growth rate in the global spine X-ray and computed tomography market?
• Which are the fastest growing countries in terms of spine X-ray and CT g market?
• What are the key strategies being adopted by market players in the spine X-ray and computed tomography market?
• Which are the emerging companies in the global spine X-ray and computed tomography market?
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