Spinal Imaging Market Undergoing a Tech Makeover: Future Market Insights Study

DUBAI, UAE, July 22, 2020 /PRNewswire/ -- Future Market Insights, in its recent spinal imaging market report predicts a growth trajectory of over 5% between 2020 and 2030.

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Increasing volume of spinal cord surgeries to correct various anomalies is acting as the principal growth driver for the market. Over the years, rapid technological advancements in imaging techniques have played a fundamental role in spinal surgeries. Advancements in genomics have spurred healthcare stakeholders to invest in more targeted treatment. This has greatly helped in reducing surgery time as well as enabled surgeons to determine the precise approach for each patient.

The advent of artificial intelligence based imaging equipment has helped personalize imaging procedures, while 3D-printing has enabled better assessment of treatments. Although in their nascent stage, these technologies have the potential to revolutionize spinal surgical procedures in the future.

Based on these trends, the spinal imaging market shall reach a valuation of US$ 3 Bn by 2030-end.

"Surging spinal cord infections and disorders are pushing manufacturers to incorporate technological breakthroughs in surgical procedures, enabling them to carve a niche for themselves in the market," says an FMI analyst.

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Key Takeaways from FMI's Spinal Imaging Market Report

    --  MRI scanners holds dominance, with over 2/5(th) of the global spinal
        imaging market
    --  Spinal Cord and Nerve Compression accounts for the maximum spinal
        imaging technique applications
    --  By end-user, hospitals are exhaustively utilizing spinal imaging
        techniques as a result of high patient inflow
    --  North America dominates the global spinal imaging market while
        Asia-Pacific is fast catching-up
    --  The global spinal imaging market shall be valued at US$ 2 Bn by 2020-end

Spinal Imaging Market- Key Trends

    --  High prevalence of sedentary lifestyles have induced several spinal cord
        disorders, prompting patients to seek treatment
    --  Technological developments such as 3D-modelling will play an ancillary
        role in the spinal imaging market by making surgical procedures more
        effective
    --  Other advancements such as the innovation of multi-detector CT scanners
        with a high gantry speed have led to an improvement in overall image
        quality
    --  Burgeoning investments in healthcare infrastructure such as hospitals
        will increase advanced spinal imaging adoption in the future

Spinal Imaging Market- Region-wise Analysis

    --  The United States shall be the dominant spinal imaging technique user
        due to a large patient pool and advent of novel technologies
    --  Favorable reimbursement policies are driving the European spinal imaging
        market to newer heights
    --  Asia-Pacific shall be the second-most lucrative spinal imaging market
        due to heightened government spending on healthcare infrastructure
    --  COVID-19 shall hinder growth prospects across all regions, attributed to
        postponement of elective surgical procedures in favor of coronavirus
        patients

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Spinal Imaging Market- Competitive Landscape

Prominent spinal imaging market players are leveraging Industry 4.0 and artificial intelligence capabilities to acquire a stronger market footprint across lucrative regions. Some of these players are: Koninklijke Philips N.V, Shimadzu Corp., and Siemens.

In January 2020, Siemens announced the development of its Spinal Imaging at 7T device to be used for spinal surgeries. Likewise, in 2019, the company was granted approval by the U.S FDA for its MAGNETOM Lumina 3T MRI scanner which speeds up MRI workflow through a unique AI-based matrix technology.

Spinal Imaging Market Taxonomy

Product Type

    --  X-Ray
    --  CT
    --  MRI
    --  Ultrasound

Application

    --  Spinal Infection
    --  Vertebral Fractures
    --  Spinal Cancer
    --  Spinal Cord and Nerve Compression

End-User

    --  Hospitals
    --  Diagnostic Imaging Center
    --  Ambulatory Care Center
    --  Region/Country

North America

    --  U.S
    --  Canada

Latin America

    --  Brazil
    --  Mexico
    --  Rest of LATAM

Europe

    --  EU-5
    --  BENELUX
    --  Nordic Countries
    --  Russia
    --  Poland
    --  Rest of Europe

South Asia

    --  India
    --  Thailand
    --  Malaysia
    --  Indonesia
    --  Singapore
    --  Rest of South Asia

East Asia

    --  Japan
    --  China
    --  South Korea

Oceania

    --  Australia
    --  New Zealand

Middle East & Africa

    --  GCC
    --  South Africa
    --  North Africa
    --  Rest of MEA

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More about FMI's Report on the Spinal Imaging Market

Future Market Insights executive level blueprint of the spinal imaging market in its report. It offers refined forecasts pertaining to revenue growth witnessed across various segments. Trends impacting the market's trajectory across these segments are also studied in detail for a period between 2020 and 2030.

The report studies the global spinal imaging market in terms of products (MRI, Computed Tomography, X-ray, and Ultrasound), applications (spinal infection, spinal cancer, vertebral fracture, spinal cord and nerve compression), end user (hospitals, ambulatory care services, diagnostic imaging centers), and region (North America, Europe, Latin America, Asia Pacific, and Middle East and Africa).

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About Future Market Insights (FMI)

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SOURCE Future Market Insights