Bone Densitometers are medical devices utilized for measuring bone density and assessing fracture risk. These devices utilize dual-energy X-ray absorptiometry technology or other photon-beam technologies to accurately measure bone mineral density at the spine, hip, wrist or total body. With growing geriatric population susceptible to osteoporosis and rise in healthcare spending in emerging nations, bone densitometry screening has become vital for osteoporosis management and treatment, thereby driving the demand for bone densitometers.
The global Bone Densitometers Market is estimated to be valued at US$ 313.05 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rapid adoption of osteoporosis screening worldwide is a major trend fueling the growth of bone densitometers market. As per estimates by International Osteoporosis Foundation, over 200 million people suffer from osteoporosis globally. Moreover, 1 in 3 women and 1 in 5 men over the age of 50 are at high risk of fractures due to osteoporosis. Growing awareness regarding importance of bone density screening and preventive steps from early age is encouraging individuals to voluntarily undergo bone mineral density tests. This is contributing significantly to rising installations of bone densitometers across healthcare settings.
SWOT Analysis
Strength: Bone densitometers allow precise measurement of bone mineral density and help to diagnose osteoporosis early. This helps physicians to determine the fracture risk and develop treatment plans.
Weakness: Bone densitometers require specialized technicians to perform the tests and interpret the results which increases the cost of testing. Portable bone densitometers have limited accuracy compared to clinical devices.
Opportunity: Rising geriatric population suffering from osteoporosis worldwide presents an opportunity for growth. Growing awareness about benefits of early osteoporosis diagnosis and management offers scope.
Threats: Availability of alternative technologies like quantitative ultrasound and X-ray absorptiometry poses competition. Economic slowdowns impact healthcare expenditures and limit market potential.
Key Takeaways
The global bone densitometers market is expected to witness high growth over the forecast period of 2023 to 2030. The global Bone Densitometers Market is estimated to be valued at US$ 313.05 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
North America currently dominates the bone densitometers market owing to rising osteoporosis prevalence, availability of reimbursements and presence of key players. Asia Pacific is projected to grow at the fastest pace due to increasing elderly population, growing medical tourism and rising healthcare spending in the region.
Key players operating in the bone densitometers market are GE Healthcare, Hologic, Inc., Swissray Global Healthcare Holding, and BeamMed Ltd. Bone densitometers developed by key players are equipped with innovative technologies like DXA, quantitative ultrasound and peripheral X-ray absorptiometry for precise bone mineral density assessment. GE Healthcare offers a wide portfolio of clinical and portable densitometers accepted as gold standard for osteoporosis diagnosis worldwide.
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- Source: Coherent Market Insights, Public sources, Desk research
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