The global Bone Densitometer market was valued at USD 244.6 million in 2021 and is expected to reach USD 338.8 million by the year 2030, at a CAGR of 4.1%. The method uses a very small dose of ionizing radiation to produce images of the internal body wherein low bone density could be observed. The complications including broken bones generally related to osteoporosis, are known to be severe, particularly in the elderly population. Therefore, growing elderly population associated to such osteoporotic fractures expected to anticipate the industry growth.
According to the United Nations (UN), the number of people above the age of 80 is expected to grow from 143 million in 2019 to 426 million by 2050. Furthermore, osteoporosis is growing across the world, due to factors such as decreased quality of lifestyle and intake of low calcium significantly in children and women. Hence, this could be a primary factor known to propel the industry enormously. Osteoporosis widely affects women in the menopausal state which could be a growth factor for the industry.
Regionally, North America accounted for the largest share in the industry owing to the decreased quality of lifestyle in the region. the presence of key industry players in the region also contribute to the industry growth as well. The Asia Pacific region is growing at a faster pace due to presence of huge population in the region and increasing elderly people. The high cost of bone densitometers and lack of awareness among the people regarding such technologies could be some major restraints for the industry. Furthermore, launch of various health benefit programs by the government as well as other healthcare institutions is expected to hinder the industry in the future.
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Based on technology axial bone densitometry dominated the global market and accounted significant market revenue in 2019. The segment is further bifurcated as DXA technology and Quantitative Computed Tomography
Under the axial bone densitometry DXA technology accounted highest market share in 2019 and is estimated to register highest CAGR. Owing to its efficiency and cost effective products the technology is widely adopted
The segment of Osteoporosis and osteopenia are dominated the market in 2019. Increasing prevalence of osteoporosis across the globe, favorable government initiatives, rising awareness about bone density and increasing women’s health awareness program are major factors driving the market growth of osteoporosis.
Based on application body composition measurement is estimated to register highest CAGR. Increasing prevalence of obesity or overweight globally, rising incidences of lifestyle diseases caused due to fats/cholesterol, and rising adoption of healthy diet are estimated to propel the market growth in future.
North America dominated the bone densitometer market with in 2019 with CAGR 3.9% in forecasted period. Due to the higher rate of obesity and overweight, favorable government initiatives and adoption of advanced technologies the region is expected to dominate in 2019.
The Asia Pacific is expected to be contribute substantial growth as a result of an increased prevalence of osteoporosis, growing women’s health concern and rising elderly population residing in Asia Pacific is expected to help regional market growth.
The market in Europe and the rest of the world has an opportunity for expansion as the population in countries such as Brazil, South Africa, the UAE, Germany, U.K, and France are aging at fast pace. Thus, it is expected to boost the market demand in the respective region.
- The North America regional segment held the largest share in the Bone Densitometer industry of 34.7% in the year 2019. The industry is dominated in this region due to presence of major key players in the region and favorable reimbursement scenario.
- The DXA technology segment is expected to reach USD 109.38 million by the year 2030, showing significant growth during the forecast period.
- In 2019, quantitative computed tomography segment was valued at USD 65.0 million and is expected to grow at a high CAGR of 3.7%.
- The osteoporosis and osteopenia segment is expected to grow with a CAGR of 3.8% during the forecast period owing to high patient population.
- The European region has occupied 29.6% of the industry and is expected to grow in the forecast period.
- Asia-Pacific regional segment of the sector is expected to remain highest growing segment during 2020-2030, at a CAGR of 4.8%. This regional healthcare sector is widely driven by rising geriatric population in the region.
Companies considered and profiled in this market study
The key players in the global bone densitometer includes companies such as Hologic, Inc., GE Healthcare, Diagnostic Medical Systems Group, Echolight S.P.A, Scanflex Healthcare AB, Swissray Global Healthcare Holding, Ltd., Medonica Co., Ltd., Oscare Medical Oy, Osteosys Corporation, and OSI Systems, Inc.
The players operating in the market have undertaken several strategies related to the market in the period 2022-2020. The key highlight is:
- Personalization in healthcare is emerging and is estimated to capture significant market, various companies are merging the technology for wide range of a product line. For instance, in May 2020, Bone Index announced the pipeline development of Bindex Total Bone Health a personalized fracture prevention program in the United States. It prevents risk of fracture caused by osteoporosis
- In May 2019, DEX+ got into an agreement with Hologic Inc., which is a medical technology company, to distribute its products, which are significantly used for body composition measurement
Several marketing strategies such as Mergers & Acquisitions, product developments are an integral part of the bone densitometer. Along with the companies operating in the market, other key market players have also been entering the industry.
- Lifestyle diseases such as osteoporosis and obesity are increasing worldwide leading to cost nearly USD 167 billion annually, thus, early diagnosis of these dominant diseases are majorly in demand. To capture the client needs companies are developing products. For instance, Norland at Swissray in July 2020, launched ELITE Bone Densitometer (DXA) for osteoporosis and obesity.
- Technological developments plays crucial role in surging demand in healthcare industry. Major players are engaged in adoption of advanced technologies to offer user efficient and convenient device. For instance, in May 2020, Zebra Medical Vision received FDA 510(k) clearance for its Vertebral Compression Fractures (VCF). The device uses AI to predict risk of osteoporosis caused fracture
- In May 2018, a collaboration was established between GE healthcare and FitTrace which will offer analysis to sports and fitness industry. The DXA technology from GE Healthcare will be combined with advance analytics capabilities from FitTrace
- Favorable reimbursement is one of the major driving factor that is estimated to rise the opportunity to expand business in forecasted year. Insurers like Medicare offer reimbursement to GE Healthcare for its DXA and Ultrasound bone densitometers in 2019.
Reports and Data forecast promising developments for increased adoption of artificial conception. The companies are developing new product concepts to achieve the unmet needs of user. The market is saturated and threat of new entrance is low. The key players are developing advanced technology to produce cost effective and efficient device to meet the user’s requirement.
Segments Covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2022 to 2030. The scope of the report can be defined as:
For the purpose of this report, has segmented the Bone Densitometer market on the basis of technology, application end use and region:
Technology Outlook (Revenue in Million USD; 2022–2030)
- Axial Bone Densitometry
- DXA Technology
- Quantitative Computed Tomography
- Peripheral Bone Densitometry
- Single Energy X-Ray Absorptiometry
- Radiographic Absorptiometry
- Quantitative Ultrasound
- Peripheral Quantitative Computed Tomography
- Peripheral Dual Energy X-Ray Absorptiometry
Application Outlook (Revenue in Million USD; 2022–2030)
- Osteoporosis and Osteopenia
- Cystic Fibrosis
- Rheumatoid Arthritis
- Body Composition Measurement
End-use Outlook (Revenue in Million USD; 2022–2030)
- Diagnostic and Imaging Centers
Regional Outlook (Revenue in Million USD; 2022–2030)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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