The increasing prevalence of osteoporosis and the rising geriatric population are major factors driving the growth of bone densitometer. However, factors such as the high cost of bone densitometers and low awareness are expected to hinder market growth.
How much is the Bone Densitometer Market worth?
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. Asia Pacific accounted for the largest share of this 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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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.
Based on application, the peripheral 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.
Based on end user, the peripheral 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.
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Who are the leading vendors operating in Peripheral Bone Densitometers 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).
• In May 2019, DEX+ entered into an agreement with Hologic to distribute its products, which are used for body composition measurement.
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