As per the study, the US is expected to be the largest and most profitable market, and it is expected to register a CAGR of 4.9% during the forecast period owing to a large patient population. Demand in China bone densitometer devices market is estimated to expand at a CAGR of 5.2% over the forecast period (2022-2032)
NEWARK, Del., Sept. 22, 2022 (GLOBE NEWSWIRE) — The global bone densitometer devices market is projected to reach a value of US$ 501.4 Mn in 2032, with the market expanding at an average CAGR of 4.1% during the forecast period of 2022 to 2032. Valued at US$ 324.3 Mn in 2021, the bone densitometer devices market will reach an estimated US$ 335.7 Mn in 2022. The growing prevalence of bone-related diseases like osteopenia, osteomalacia, and osteoporotic fractures will fuel the market growth over the forecast period.
Bone densitometer devices are used to perform a non-invasive procedure to check bone density and gauge the strength of bones. These devices are necessary while diagnosing bone-related disorders. Bone densitometers also analyze the risk of developing bone disorders. One of the major market drivers for bone densitometer devices is the rising incidence of knee osteoarthritis. With over 203 knee osteoarthritis cases for every 10,000 persons, 20 years of age and above, bone densitometer devices are expected to be in high demand in the coming years.
Moreover, a surge in favorable reimbursement policies by Medicare will likely spur the demand for bone densitometer devices, particularly in countries like India and the US Medicare provides private health insurance plans for the treatment of osteoporosis, which in turn accounts for the increasing expansion of the bone densitometer devices market. Also, many manufacturers are keen on releasing innovative products with novel offerings like low dosage and patented narrow-fan beam technology. This factor coupled with the rising need for excellent precision and accuracy, high definition image quality, and faster scan for multiple clinical applications will foster an atmosphere of growth for the target over the projected period.
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“Growing bone health awareness, more widespread knowledge about osteoporosis along with initiatives from NGOs and government organizations will likely drive the market growth for the bone densitometer devices over the forecast period,” says an FMI analyst.
Heightened demand for precise, speedy and high-quality diagnosis to strengthen the market prospects.
High cost of the target product and limitations of the DXA technology of bone densitometer device will impede market growth.
The US will dominate the global market space with a CAGR of 4.9%.
The market in Germany will be driven by increasing bone disorder awareness programs.
Axial bone densitometer segment will grow at a CAGR of 4.2%
In terms of technology, Dual Energy X-Ray Absorptiometry will hold about 3/5th of total revenue.
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 the bone densitometer devices market profiled in the full version of the report.
Leading market players are concentrating on improving their product features to expand their business and enter new markets. Strategies like mergers, acquisitions, and distribution agreements are also employed by these enterprises to strengthen their position in the bone densitometer devices market.
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More Insights into Bone Densitometer Devices Market Report
In its latest report, FMI offers an unbiased analysis of the global bone densitometer devices market, providing historical data from 2011 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type (peripheral bone densitometer, axial bone densitometer), technology (dual energy x-ray absorptiometry (DXA), peripheral dual energy x-ray, absorptiometry (pDXA), quantitative ultrasound, others), end-user (hospitals, orthopedic clinics, diagnostic centers), and region.
According to the latest FMI reports, based on region, the bone densitometer devices market in the United States is expected to display substantial growth over the forecast period. The market in this country is predicted to expand at a CAGR of 4.9% from 2022-2032. High prevalence of osteoarthritis cases and a large overall patient population supports the regional market growth. Apart form the US, the bone densitometer devices market in Germany and China is predicted to undergo impressive growth over the assessment period.
Based on segmentation, by product type, the axial bone densitometer segment is expected to dominate the market, growing at a 4.2% CAGR. In terms of technology, the dual energy x-ray absorptiometry (DXA) segment is predicted to lead the market growth through 2032.
Table of Contents
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
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