SAN FRANCISCO, July 28, 2020 /PRNewswire/ -- The global spinal imaging market size is estimated to reach USD 2.3 billion by 2027 registering a CAGR of 5.2%, according to a new report by Grand View Research, Inc. The increasing cases of spinal surgeries and rising number of installations of MRI scanners are the major factors expected to drive the market during the forecast period. Growing geriatric population and increasing cases of lower back pain due to obesity are also expected to boost the market growth in coming years.
Key suggestions from the report:
- MRI held the largest market share in 2019 and is expected to be the fastest-growing product segment over the forecast period owing to the advantages, such as high soft tissue contrast and excellent spatial resolution coupled with multiplanar imaging capabilities
- The spinal cord and nerve compression application segment accounted for the largest revenue share in 2019 and is anticipated to maintain its dominance over the forecast period due to rising prevalence of spinal disorders, such as herniated disc, spinal stenosis, cauda equina syndrome, and radiculopathy
- The demand for imaging tool in diagnosis of spinal infections, such as vertebral osteomyelitis, epidural abscess and discitis, is anticipated to increase due to increasing prevalence of intravenous drug abuse, cancer, and diabetes
- The Hospital end-use segment accounted for the largest revenue share in 2019 and will retain the leading position over the forecast years as hospitals have the largest patient pool due to availability of advance imaging tools
- Asia Pacific is anticipated to be the fastest-growing regional market during the forecast period due to improving healthcare infrastructure and favorable government initiatives in the region, especially in India and China.
Read 130 page research report with ToC on "Spinal Imaging Market Size, Share & Trends Analysis Report By Product (MRI, CT), By Application (Spinal Infection, Spinal Cord & Nerve Compressions), By End Use, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/spinal-imaging-market
Increasing number of healthcare projects, rising need for the replacement of obsolete imaging equipment in developed countries, and rapidly expanding private healthcare sector are also anticipated to play a significant role in the market growth. Major market players are focusing on various business strategies gain competitive advantage and to strengthen their market positions. These strategies include mergers & acquisitions, partnerships, joint ventures, and development of low-cost equipment, especially for the developing economies.
Grand View Research has segmented the global spinal imaging market based on product, application, end use and region:
- Spinal Imaging Product Outlook (Revenue, USD Million, 2016 - 2027)
- X-ray (without contrast media)
- X-ray (without contrast media)
- Spinal Imaging Application Outlook (Revenue, USD Million, 2016 - 2027)
- Spinal Infection
- Vertebral Fractures
- Spinal Cancer
- Spinal Cord & Nerve Compressions
- Spinal Imaging End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Diagnostic Imaging Centers
- Ambulatory Care Centers
- Spinal Imaging Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The Netherlands
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- List of Key Players of Spinal Imaging Market
- GE Healthcare
- Koninklijke Philips N.V.
- Siemens Healthineers
- Canon Medical Systems Corp.
- Mediso Ltd.
- Shimadzu Corp.
- Hitachi, Ltd.
- Toshiba Medical Systems, Inc.
Find more research reports on Medical Imaging Industry, by Grand View Research:
- Surgical Imaging Market – The global surgical imaging market size was valued at USD 4.6 billion in 2017 and it is anticipated to expand at a CAGR of 5.2%. The growing geriatric population and awareness regarding radiography driving growth.
- Structural Heart Imaging Market – The global Structural Heart Imaging market size was estimated at USD 10.1 billion in 2016. Congenital Heart Diseases (CHDs) and rising government support are expected to be major factors driving growth.
- Clinical Trial Imaging Market – The global clinical trial imaging market size was valued at USD 790.5 million in 2017. Growing pharmaceutical, biotechnology companies and increasing investments in the field of R&D is escalating market growth.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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