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Spinal X-Ray and CT Market To Reach $1,602 Million by 2030, says P&S Intelligence

NEW YORK, May 30, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, the spinal X-ray and CT market was valued at $917.9 million in 2021, which is likely to hit $1,602.0 million by 2030, prospering at a 6.4% CAGR during 2021–2030. The growing occurrence of spinal injuries, developments in radiological technologies, increasing elderly population, and emergence of AI in medical tomography are advancing the growth of the market.

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The hospitals and clinics category had an over 50% revenue share in the spinal X-ray and CT market in 2021. A large number of patients prefer hospitals over any other medical facility, making them the main diagnosis site for injuries and fractures of the spine, particularly in developing countries. Moreover, hospitals are snowballing their outlay to get their hands on innovative radiological technologies, with the purpose of offering precise results.

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Key Findings of Spinal X-ray and CT Market Report

  • CT devices held the major share of the revenue in the market in 2021. This is because CT scans can produce pictures that can be reformatted in numerous planes and also create a 3D image.
  • AI-enabled X-ray and CT software demand is likely to observe the fastest growth in the near future. This will be because of the progressions in the medical imaging field and the continuous demand for high-quality and cost-effective CTs and X-rays in quick time.
  • The revenue share of the North American spinal X-ray and CT market, of over 40%, was the largest in 2021. This is ascribed chiefly to the developments in the healthcare know-how, attributed to the investment-backed R&D, and the accessibility of an increasing number of CT and X-ray devices.
  • The region with the fastest growth forecast is APAC, as the developing economies here are seeing momentous progressions in radiological technology, accompanied by developments in the healthcare structure.
  • The rising frequency of spinal injuries is one of the main factors that is driving the industry. Furthermore, the elderly population is more susceptible to spinal injuries owing to their lower bone concentration.
  • The indication category likely to witness the fastest growth in the near future is spinal tumor, with more than 7% CAGR. This is credited to the growing cases of spinal cancer globally, which is pushing the need for fast and effective imaging and treatment.

Browse detailed report on Global Spinal X-Ray and CT Market Trends, Business Strategies, Regional Outlook and Analysis Through 2030

The advent of local companies in LAMEA and APAC, along with the vast growth prospects in emergent economies, offer a lucrative potential for the worldwide spinal X-ray and CT market advance. Emerging economies, for instance, India, China, Brazil, and Mexico, have a large number of inhabitants with vertebral fractures and spinal injuries. This tends to surge the volume of CT scans and X-rays, thus leading to the growth of the industry.

Future evolution in CT and X-ray systems is likely to be influenced by improved features, such as high speed and less radiation exposure. The stalwarts of the industry have been aggressively engaged in product introductions with the aim of strengthening their portfolios and achieving a larger market share. For example, GE Healthcare publicized its plans to introduce the next-gen Revolution Aspire CT scanner in India in August 2022.

Spinal X-Ray and CT Market Segmentation Analysis

By Indication

  • Spinal Tumor
  • Spinal Fracture
  • Spinal Infection

By Product

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

By Patient Type

  • Adults
  • Pediatrics and Neonates

By End User

  • Hospitals and Clinics
  • Diagnostic Imaging Centers

By Region

  • 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

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence

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