According to the study, the US is projected to be the largest and most profitable market and is expected to register a CAGR of 4.9% over the forecast period due to a large patient population. Bone densitometer market demand in China is estimated to grow at a CAGR of 5.2% during the forecast period (2022-2032).
NEWARK, Del., Sept. 22, 2022 (GLOBE NEWSWIRE) — The global Bone Density Monitoring Devices market is forecast to reach US$501.4M in 2032, growing at an average CAGR of 4. 1% will grow from 2022 to 2032. With value of US$324.3 million in 2021, bone densitometry market will reach an estimated US$335.7 million in 2022. The increasing prevalence of bone-related diseases such as osteopenia, osteomalacia and osteoporotic fractures will drive the market growth over the forecast period.
Bone densitometry devices are used to perform a non-invasive procedure to check bone density and measure bone strength. These devices are necessary in the diagnosis of bone diseases. Bone densitometers also analyze the risk of developing bone diseases. One of the key market drivers for bone densitometer devices is the rising incidence of knee osteoarthritis. With over 203 cases of knee osteoarthritis per 10,000 people aged 20 and over, bone densitometers are expected to be in high demand in the coming years.
Additionally, an increase in favorable Medicare reimbursement policies is likely to boost demand for bone densitometry devices, particularly in countries like India and the US. Medicare offers private health insurance plans for the treatment of osteoporosis, which in turn is driving the increasing expansion of the bone densitometer market. Also, many manufacturers are striving to bring innovative products to market with novel offerings such as low dosage and patented narrow fan jet technology. This factor coupled with the increasing need for superior precision and accuracy, high resolution image quality and faster scans for multiple clinical applications will foster an atmosphere of growth for the target over the projected timeline.
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“Increasing awareness of bone health, broader knowledge of osteoporosis along with initiatives from NGOs and governmental organizations is likely to drive the bone densitometry market growth during the forecast period,” says an FMI analyst.
The central theses:
Increased demand for accurate, fast and high-quality diagnostics to strengthen market prospects.
High cost of the target product and limitations of bone densitometer DXA technology will hamper the market growth.
The US will dominate the global market at a CAGR of 4.9%.
The market in Germany is driven by increasing bone disease awareness programs.
The axial bone densitometer segment will grow at a CAGR of 4.2%
In terms of technology, Dual Energy X-Ray Absorptiometry will account for about 3/5 of total sales.
GE Healthcare, Hologic, Inc., OSI Systems, Inc., Diagnostic Medical Systems Group, Swissray Global Healthcare Holding, Ltd., BeamMed, Ltd., Echolight SPA, Scanflex Healthcare AB, Medonica Co., Ltd., XinGaoYi Co., Ltd., Anjue Medical Equipment, Trivitron Healthcare, Eurotec Systems Srl, AMPall Co., Ltd., L’acn L’accessorio Nucleare SRL, Shenzhen XRAY Electric Co., Ltd., YOZMA BMTech Co., Ltd., Nanoomtech Co. , Ltd., Osteosys Corporation, FURUNO Electric Co., Ltd. and others are some of the major players in Bone Densitometers market who are profiled in the full version of the report.
Leading market players focus on improving their product properties in order to grow their business and enter new markets. Strategies like mergers, acquisitions, and distribution agreements are also employed by these companies to strengthen their position in the bone densitometry market.
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More insights into the Bone Densitometer Devices market report
In its latest report, FMI provides an unbiased analysis of the global bone densitometry market with historical data from 2011-2021 and forecast statistics for 2022-2032. In order to understand the global market potential, growth and scope, the market is segmented by product type (peripheral bone densitometry , axial bone densitometer), technology (dual energy X-ray absorptiometry (DXA), peripheral dual energy X-ray, absorptiometry (pDXA), quantitative ultrasound, others), end users (hospitals, orthopedic clinics, diagnostic centers) and region.
According to the latest FMI reports, the bone densitometry market in the United States is expected to witness significant growth by region over the forecast period. The market in this country is expected to grow at a CAGR of 4.9% from 2022 to 2032. A high prevalence of osteoarthritis cases and a large overall patient population support regional market growth. Aside from the US, the bone densitometry market is forecast to show impressive growth in Germany and China during the assessment period.
Based on segmentation by product type, the axial bone densitometer segment is expected to dominate the market and grow at a CAGR of 4.2%. In terms of technology, the dual-energy X-ray absorptiometry (DXA) segment is expected to lead the market growth through 2032.
Table of Contents
1.1. Global Market Outlook
1.2. Trends on the demand side
1.3. Trends on the supply side
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Restrictions
2.3. Inclusions and Exclusions
3. Major Market Trends
3.1. Key trends affecting the market
3.2. Product innovation / development trends
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