[117 Pages Report] The global bone densitometers market is projected to reach USD 311 million by 2024 from USD 247 million in 2019, at a CAGR of 4.7%.
The growth in the bone densitometer 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 the growth of this market.
The Report Bone Densitometer Market is segmented into:-
On the basis of type, the market is segmented into dual-energy X-ray bone absorptiometry (DXA) scanners and peripheral bone densitometers.
The DXA scanners segment accounted for the largest share of the market in 2018. This segment is also projected to register a higher CAGR during the forecast period. This is attributed to the advantages of DXA scanners over peripheral bone densitometers. Moreover, results obtained from DXA scanners can be interpreted using WHO scores for greater accuracy, which accounts for their high use.
On the basis of application, the market has been segmented into osteoporosis & osteopenia diagnosis, body composition measurement, rheumatoid arthritis diagnosis, cystic fibrosis diagnosis, and chronic kidney disease diagnosis.
The osteoporosis & osteopenia diagnosis segment is projected to grow at the highest CAGR during the forecast period. This can be attributed to the growing geriatric population and the subsequent increase in the prevalence of osteoporosis, the increasing risk of osteoporosis in menopausal women, and the growing global incidence of fragility fractures.
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Based on end user, the market is segmented into hospitals & specialty clinics, diagnostic & imaging centers, and other end users.
In 2018, hospitals & specialty clinics accounted for the largest share of the market, and this trend is expected to continue during the forecast period. The majority of bone density scans are performed in hospitals owing to the higher preference of patients for hospital-based treatment monitoring for diseases such as cystic fibrosis, chronic kidney diseases, and osteoporosis.
4. Geographical Region
The market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period.
Asian countries (particularly China and India) are expected to offer significant growth opportunities for market players in the forecast period, primarily due to the rising geriatric population, increasing incidence of osteoporosis, increasing healthcare expenditure, and the growing number of hospitals and clinics.
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Market Key Players
The prominent players in the bone densitometers market include 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), Eurotec Systems S.r.l (Italy), Ampall Co., Ltd. (South Korea), L’acn L’accessorio Nucleare S.R.L (Italy), Shenzen XRAY Electric Co., Ltd. (China), YOZMA BMTech Co., Ltd. (South Korea), Nanoomtech Co., Ltd. (South Korea), Osteosys Corporation (South Korea), FURUNO Electric Co., Ltd. (Japan), Xianyang Kanrota Digital Ultrasound System, Co., Ltd. (China), XinGaoYi Co., Ltd. (China), Anjue Medical Equipment (China), Oscare Medical Oy (Finland), Medilink (France), CyberLogic, Inc. (US), Nanjing Kejin Industrial Co., Ltd. (China), and Trivitron Healthcare (India).