New York, United States , Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Spine X-ray and Computed Tomography (CT)Market Size to grow from USD 930 million in 2021 to USD 1,571 million by 2030, at a Compound Annual Growth Rate (CAGR) of 6% during the forecast period. The market for spine X-ray and CT devices is expanding at a rapid rate. There has been an increase in the number of X-rays and CT scans used in imaging vertebral fractures, spinal infections, and spinal malignancies, among other conditions affecting the spine. In addition, the incorporation of AI into imaging has accelerated the market's growth. Asia Pacific is expected to grow the fastest during the forecast period followed by North America and Europe.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The CT device segment accounts for the largest market size during the forecast period
Based on the product, the spine x-ray and computed tomography (CT) market is categorized into X-ray devices, CT devices, and AI-enabled X-ray & CT software. The CT device segment accounts for the largest market size during the forecast period. CT scans have the potential to provide pictures that can be rearranged in many planes to produce a three-dimensional representation. This is one reason why these scans are helpful. An X-ray cannot examine the whole of the spinal cord as a CT scanner can, resulting in a more precise diagnosis.
The Hospitals & Clinics segment to hold a higher CAGR during the forecast period
Based on end users, the spine x-ray and computed tomography (CT) market is categorized into Hospitals & Clinics, Diagnostic Imaging Centers, and Ambulatory Surgery Centres. The hospitals and clinic segment to hold a higher CAGR during the forecast period. Hospitals and clinics largely dominated the global spine X-rays and computed tomography (CT) market. Hospitals and clinics are the primary diagnostic centers for the treatment of spinal injuries. More and more ASCs are turning to X-rays, and CT scans to provide individualized care to their patients and shorten the time it takes for them to recover.
Browse key industry insights spread across 200 pages with 156 market data tables and figures & charts from the report "Spine X-ray and Computed Tomography (CT) Market Size, Share, and COVID-19 Impact Analysis By Indication (Spinal injuries, Spinal tumors, and Spinal Fractures), By Patient (Adults and Pediatric & neonates ), By End Users (Hospitals & Clinics, Diagnostic Imaging Centers, and Ambulatory Surgery Centres), By Product (X-ray devices, CT devices, and AI-enabled X-ray & CT software), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2030 " in detail along with the table of contents.
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The adult segment is to hold a higher CAGR during the forecast period.
Based on the patient type, the Spine X-ray and Computed Tomography (CT) Market is categorized as Adults Pediatric & neonates. The adult segment is to hold a higher CAGR during the forecast period. When it came to spinal X-ray and CT services, the adult population was by far the most significant consumer segment. This is because older people tend to have lower bone densities, increasing their risk of developing osteoporosis and spinal compression fractures.
Asia-Pacific to hold a higher CAGR during the forecast period.
The Spine X-ray and Computed Tomography (CT) market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. North America is estimated to account for the highest market share in 2021. The advanced healthcare infrastructure in North America, the emergence of advanced technology to diagnose disease, and the highly developed healthcare infrastructure make it dominant.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Spine X-ray and Computed Tomography (CT) 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, Nominalize Philips N.V., Nano-x Imaging LTD, Quibim S.L, Qure.ai Technologies Pvt. Ltd, Siemens Healthineers AG, Shimadzu Corporation, Vuno Co. Ltd.
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