The global market for bone densitometers was arrived at after the assessment of major product segments and their shares in the overall market. The research process involved the study of multiple factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
How much is the Bone Densitometer Market worth?
MarketsandMarkets forecasts the Bone Densitometer Market to grow from USD 311 million by 2024 from USD 247 million in 2019, growing at a CAGR of 4.7% during the forecast period. The growth of the bone densitometers market is majorly driven by the increasing prevalence of osteoporosis and the rising geriatric population. However, factors such as the high cost of bone densitometers and low awareness are expected to hinder market growth. The global mice model market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, Asia Pacific accounted for the largest share of this market majorly due to the significant prevalence of bone-related diseases in this population segment, increasing healthcare expenditure in APAC countries, and growing public awareness.
By type, the dual-energy X-ray absorptiometry (DXA) scanners segment is expected to dominate the bone densitometers market
Based on type, the bone densitometers market is segmented into dual-energy X-ray scanners and peripheral bone densitometers. The DXA scanners segment accounted for the largest share of the bone densitometers market in 2018. The large share of this segment can mainly be attributed to their advantages over peripheral bone densitometers, which hold a lesser share of the market.
By application, the osteoporosis & osteopenia segment commanded the largest share of the bone densitometers market in 2018
Based on application, the bone densitometers market is segmented into osteoporosis & osteopenia diagnosis, cystic fibrosis diagnosis, chronic kidney disease diagnosis, body composition measurement, and rheumatoid arthritis diagnosis. The osteoporosis & osteopenia diagnosis segment accounted for the largest share of the bone densitometers market in 2018. The large share of this application segment can be attributed to the large geriatric population suffering from osteoporosis, the increasing risk of osteoporosis in menopausal women, and the growing global incidence of fragility fractures.
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By end user, the hospitals and specialty clinics segment is estimated to show the highest growth
Based on end user, the bone densitometers market is segmented into hospitals & specialty clinics, diagnostic & imaging centers, and other end users. In 2018, hospitals accounted for the major share of the bone densitometers market, mainly due to their high purchasing capacity; as a result, the adoption of high-cost scanners is higher in hospitals.
The Asia Pacific is expected to be the fastest-growing segment in the market in 2019
The Asia Pacific is estimated to show the highest growth in the bone densitometers market, due to the significant prevalence of bone-related diseases in this population segment, increasing healthcare expenditure in APAC countries, and growing public awareness.
Moreover, increasing localized product manufacturing and the focus of global product manufacturers on expanding their presence in APAC countries are aiding market growth.
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Who are the leading vendors operating in Bone Densitometer Market?
GE Healthcare (US), Hologic, Inc. (US), OSI Systems, Inc. (US), Diagnostic Medical Systems Group (France), Swissray Global Healthcare Holding, Ltd. (Taiwan), BeamMed, Ltd. (Israel), Echolight S.P.A (Italy), Scanflex Healthcare AB (Sweden), Medonica Co., Ltd. (South Korea), and Eurotec Systems S.r.l (Italy).
GE Healthcare (US) is a prominent player in the bone densitometers market and has a strong presence across the globe. The company provides bone densitometers to various clinical research centers. The company’s significant global footprint can be attributed to its strong sales and distribution network. The company’s Lunar Aria combines advanced technology with an understanding of the challenges of offering cost-effective bone care. It is, therefore, the ideal osteoporosis diagnostic system for private practice and smaller hospitals.
- In May 2019, DEX+ entered into an agreement with Hologic to distribute its products, which are used for body composition measurement.