Global Musculoskeletal Computed Tomography Diagnostic Imaging Market Size (2024 - 2030)

Global Musculoskeletal Computed Tomography Diagnostic Imaging Market was valued at USD 37.33 billion and is projected to reach a market size of USD 51.77 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 4.78%.

Market Overview:   

A Musculoskeletal Computed Tomography Diagnostic Imaging aims at your extremities, spine, neck, and back and is used to help diagnose the cause of pains or associated symptoms. The risk of attaining these diseases increases with age. According to a report by the Centres for Disease Control and Prevention (CDC), nearly 80% of the geriatric population in the US suffer from at least one chronic condition. Additionally, the American Medical Association (AMA) approximates that at least 60% of people aged 65 and above will have more than one chronic condition by 2030. This rise in the ageing population will fuel the demand for advanced healthcare facilities and improved treatment options and medication. Computed Tomography scans are the most vital diagnostics tool, especially for lung cancer and traumatic brain injuries. The increased occurrence of these diseases is boosting the market’s growth. According to a report by the International Osteoporosis Foundation (IOF) 2020, one in four women and one in three men aged 50 years and above have osteoporosis-related fractures. Approximately 250 million people are affected by osteoporosis globally, resulting in a fracture every four seconds. A Musculoskeletal CT scan imparts 3D images of bones and helps in better diagnosis and surgeries for orthopaedics. Therefore, with the increasing burden of orthopaedic diseases, the demand for Musculoskeletal CT scanners is also anticipated to grow. 

COVID-19 Impact on the Musculoskeletal Computed Tomography Diagnostic Imaging Market: 

The COVID-19 outbreak began in Wuhan (China) in December 2019, and since then, it has stretched out around the globe at a very rapid pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-hit countries in terms of the number of positive cases and reported deaths. The COVID-19 outbreak has severely impacted several economies and industries in various countries due to lockdowns and business shutdowns. Some of these include the limited bedding capacity of hospitals, especially small hospitals, and imaging centres. The pandemic has also affected the operation of manufacturing industries. Companies were running with a limited workforce capacity. Besides, the time for delivering services and products were also affected due to the new packaging protocols and lockdown measures imposed by several countries. All these factors negatively impacted the manufacturing and supply chain of Musculoskeletal Computed Tomography diagnostic imaging systems. Nevertheless, this decline is estimated to have a short-term negative effect on the market, thereby posing minimum or no change in the long-term key drivers affecting the demand for Musculoskeletal Computed Tomography diagnostic imaging devices. 

Market Drivers: 

Growing health awareness among the population is augmenting the market growth: 

Growing awareness and increase in literacy rates in several developing and under-developed countries impact the rural population to aim more on one’s health, cleanliness, lifestyle, and overall well-being. Additionally, the coronavirus crisis prompted the demand decisions of modern consumers fostering the market size for musculoskeletal computed tomography diagnostic imaging devices and other CT devices.  

The growing geriatric population is boosting the demand for musculoskeletal computed tomography diagnostic imaging devices in the market: 

The surging geriatric population is estimated to boost the market's growth rate. Spine, neck, back, and joint-related disorders are becoming increasingly common as people age. This is because of their body’s inability to function properly with growing age and reducing ligament mobility. Muscle loss and inefficient function may lead to major problems. As a result, senior citizens are rapidly using these devices driving the market. 

Surging investments in the healthcare industry are fostering the market: 

The rising investments in the healthcare industry are helping in improving its infrastructure along with government organizations implementing several strategies and initiatives to improve the status of healthcare worldwide. 

Market Restraints: 

Lack of awareness in underdeveloped and developing countries is slowing down the market growth: 

The market size is restrained in developing nations as well as in some underdeveloped countries as the awareness remains lower. Many people in developing countries are known to neglect their regular health check-ups and have really low knowledge levels about mild pains and the complications associated with them. This makes it difficult for all the players to have any profit in the developing regions narrowing down the scope and hindering the growth of the musculoskeletal computed tomography diagnostic imaging devices market. 

Global Musculoskeletal Computed Tomography Diagnostic Imaging MARKET REPORT COVERAGE:

This research report on the Musculoskeletal Computed Tomography Diagnostic Imaging Market has been segmented and sub-segmented based on Type, End-User, Region, and Key Companies. 

Musculoskeletal Computed Tomography Diagnostic Imaging Market – Type. 

• Low Slice. 

• Medium Slice. 

• High Slice. 

Based on type, the musculoskeletal computed tomography diagnostic imaging market is segmented into 3 main categories – Low Slice, Medium Slice, and High Slice.  

The high-end slice, more than 64 slices segment dominates the market accounting for the majority of the revenue share of over 34.8% in 2021. The growing demand for accurate diagnostic imaging solutions is the major factor predicted to drive the segment. It also emits 80% less radiation as compared to mid-end slice technology which has 64 slices. These devices also provide detailed images of obese patients.  

Musculoskeletal Computed Tomography Diagnostic Imaging Market – End-User. 

• Hospitals. 

• Clinics and Diagnostics Centres. 

• Others. 

Based on end-user, the musculoskeletal computed tomography diagnostic imaging market is segmented into 3 main categories – Hospitals, Clinics and Diagnostic Centres, and Others. 

The hospital segment dominates the market and accounts for the majority of the revenue share of 36.3% in 2021. The rising number of emergency hospitalizations and the increasing number of surgeries performed each year has attributed to the increasing market size.  

Clinics and Ambulatory diagnostic centres are estimated to project growth at the fastest rate during the outlook period.  

Musculoskeletal Computed Tomography Diagnostic Imaging Market – Region. 

• North America 

• Europe 

• Asia-Pacific 

• South America 

• Middle-East and Africa 

Based on the region, the musculoskeletal computed tomography diagnostic imaging market is segmented into 3 major regions – North America, Europe, Asia-Pacific, South America, Middle-East, and Africa.  

North America holds the largest market share of over 30.4% and is anticipated to continue its dominance in the coming years. The occupancy of a large number of market key players in the region and the growing number and incidence rate of cancer are two major driving factors propelling the market growth in the region.  

In the Asia-Pacific region, the market is estimated to witness a remarkable CAGR during the outlook period due to increasing healthcare facilities and infrastructure in some developing nations such as China, India, and Japan.   

Musculoskeletal Computed Tomography Diagnostic Imaging Market – Companies. 

1. Canon Medical Systems Corporation 

2. Fujifilm Holdings Corporation 

3. GE Healthcare 

4. Shimadzu Corporation 

5. Koning Corporation 

6. Koninklijke Philips NV 

7. Neusoft Medical Systems Co. Ltd 

8. Siemens Healthineers 

9. CareStream Health 

10. Planmeca Group (Planmed OY) 

11. Hitachi Healthcare Systems 

12. Stryker Corporation 

The industry is marked by enormous competition on account of the presence of major key players who have been introducing and launching new products and portfolios and scaling their reach in the form of mergers, acquisitions, and collaborations to increase their share in the market to gain a lucrative advantage over others. 

Recent Key Industry Developments: 

• In 2021, Siemens Healthineers, a Germany-based company received FDA clearance for the Biograph Vision Quadra, a CT scanner for translational research and clinical use purposes.