The increasing cases of osteoporosis globally, growing lifestyle diseases and the rising geriatric population are some major factors which are expected to drive the market in the forecast period.
Market Size – USD 244.6 Million in 2019, Market Growth – CAGR of 4.1%, Market Trends– Increasing technological advances
According to the current analysis of Reports and Data, the Bone Densitometer Market was valued at USD 244.6 million in 2019 and is expected to reach USD 338.8 million by the year 2027, at a CAGR of 4.1%. Bone densitometer is a simple, rapid, and noninvasive device that is used to measure density of bone to diagnose osteoporosis. The rising prevalence of osteoporosis across the globe is the vital factor for anticipated market growth. Lowered quality of lifestyle and reduced intake of essential nutrients has also increased conditions such as low bone density due to which high chances of fractures may occur. According to the International Osteoporosis Foundation, more than 320,000 hip fractures are registered annually in North America and are associated with an average mortality rate of 21% in a year. It is estimated to cause 3 million fractures costing USD around 25 billion by 2025 worldwide.
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The increasing geriatric population which faces issues of low bone density due to aging could be a major market driver. This population is immensely vulnerable to osteoporosis and fractures associated due to bone related diseases. Moreover, increasing technological advancements in various regions are projected to fuel market growth in the future. One of the major cause of the osteoporosis is low level of estrogen. Reduced level of estrogen is more profound in postmenopausal women. The prevalence of osteoporosis in the case of menopausal women could be a major driver contributing to the growth of the market. According to the estimates provided by the International Osteoporosis Foundation, approximately 200 million women are affected by osteoporosis worldwide. Moreover, about 1 in 3 women over the age of 50 were found to be suffering from osteoporotic fractures. However, some factors, including the high cost of densitometers and less awareness about the bone densitometers, are expected to be some restraints for the market.
The COVID-19 impact:
The pandemic outbreak of SARS-CoV-2 has negatively affected the market growth of bone densitometer for a shorter time span followed by recovery with a stable demand of the market. The infection has attacked around 200 countries with approximately 15 million active cases across the globe. To flatten the impact of infection practices like physical distancing and restricted international trade were initiated in different nations. Physical distancing led to shut down of several manufacturing plant and disrupted supply chain or insufficient inventory of medical devices as a result of changed equation within international business trades. However, uplifting of lock down and steady market flow have promised steady recovery in the growth.
Further key findings from the report suggest
- Lifestyle diseases such as osteoporosis and obesity are prominently increasing worldwide costing around USD 167 billion annual expenses worldwide, thus, early diagnosis of such 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.
- Many companies and institutions are spreading awareness about osteoporosis and its prevention methods in different regions. For instance, every year on 20th October World Osteoporosis Day is organized by the International Osteoporosis Foundation (IOF), wherein, various participants explain the importance of bone health and to manage bone density for better health.
- Various regions are being introduced with services including bone testing to improve medical services. For instance, in September 2019, Northwest Specialty Hospital opened Northwest Bone Health in North Idaho.
- Furthermore, the center provides services like Dual-energy X-ray absorptiometry (DXA) scanner which is capable of assessing trabecular bone score (TBS) and vertebral fracture assessment (VFA). Also, the other novel therapies including bisphosphonates, IV infusions, Prolia, Forteo, and Tymlos are also provided at the center
- Key participants in the market include 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.
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For the purpose of this report, Reports and Data has segmented the Bone Densitometer market on the basis of technology, application end use and region:
Technology Outlook (Revenue in Million USD; 2017–2027)
- 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; 2017–2027)
- Osteoporosis and Osteopenia
- Cystic Fibrosis
- Rheumatoid Arthritis
- Body Composition Measurement
End-use Outlook (Revenue in Million USD; 2017–2027)
- Diagnostic and Imaging Centers
Regional Outlook (Revenue in Million USD; 2017–2027)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East Africa
- Latin America
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Major Points covered in this report are as below:
- The Bone Densitometer industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
- With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
- Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
- The Bone Densitometer Market report provides key statistics on the market status of the Bone Densitometer manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central South America, Brazil, Argentina, Rest of South America, Middle East Africa, Saudi Arabia, Turkey, Rest of Middle East Africa