Global Bone Densitometers Market – Overview
Bone densitometry is a non-invasive technology that can measure bone mass. Devices useful for this are known as bone densitometers. Analyzing the market structure, this report evaluates the future growth potential of the market. It observes the strategies of the key players in the market and follows the competitive developments like joint ventures, new product developments, mergers and acquisitions, research and developments (R & D) in the market.
The global bone densitometers market is growing mainly due to the rising prevalence of osteoporosis in menopausal women. According to a recent study report published by the Market Research Future, the global bone densitometers market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2022).
Bone densitometry is a type of non-invasive technology which is used to measure bone mass. This technology measures the amount of loss of bone mass in a patient’s body. Bone mass is the weight of the skeleton, overall or in specific regions. Bone densitometry, known as dual energy X-ray absorptiometry or DXA, is a test that calculates bone density accurately. Osteopenia, and osteoporosis generally cause the bone to lose minerals and density, which escalates the possibility of fractures. This test is often recommended after an age of 60, but it can be prescribed earlier in cases if reduced bone density is suspected. DEXA is found to be the standard approach for calculating bone mineral density.
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Notably, rising geriatric population is the key factor driving the bone densitometers market. Aging can be defined as the decline in functionality of multiple organ system and the geriatric population represents a greater variation in health and diseases in comparison to other population group. According to WHO, it is estimated that the world’s population aged 60 years and older will nearly double from 12% to 22% by 2050. In U.S, more specifically, more than 20% of the total population will be aged 65 years or over by 2030.
Other factors such as, rising prevalence of osteoporosis, huge funding for research & development, high adoption rate, technological advancements, and rising approval from regulatory bodies are also fuelling the bone densitometers market growth. According to the International Osteoporosis Foundation, osteoporosis causes more than 8.9 million fractures annually, worldwide. It is also reported that osteoporosis is estimated to affect 200 million women i.e. approximately one-fifth of women aged 70, one-tenth of women aged 60, two-thirds of women aged 90, and two-fifths of women aged 80.
Despite these drivers, lack of awareness, and safety concerns are expected to decline the bone densitometers market growth.
GE Healthcare, Hologic, Inc., BeamMed Ltd. Swissray, Osteosys Co. Ltd, MedWrench, LLC, Schick Sirona, CompuMed, Inc., Echolight S.p.a., Aarna Systems And Wellness Pvt. Ltd., Tecnicare Healthcare Company, Osteometer MediTech, Inc., Lone Oak Medical Technologies LLC, CooperSurgical, Inc, Diagnostic Medical Systems S.A. are some of the prominent players at the forefront of competition in the bone densitometers market and are profiled in MRFR Analysis.
Global Bone Densitometers Market – Competitive Analysis
The global bone densitometers market is currently dominated by few players.
Hologic, Inc. is one of them by holding a strong share in the market. The company develops, manufactures, and supplies medical imaging systems, diagnostics products, and surgical products in the United States, Europe, the Asia-Pacific, and other regions. Hologic, Inc. operates through five major segments i.e. Diagnostics, Medical Aesthetics, GYN Surgical, Breast Health, and Skeletal Health. On Aug. 8, 2013, announced the commercialization of DXA (dual energy X-ray absorptiometry) imaging system i.e. Horizon for the assessment of three critical health problems – cardiovascular disease, osteoporosis, and obesity.
General Electric Company is also one of the leading player in bone densitometers market. The company provides transformational medical technologies and services worldwide. GE Healthcare specializes in medical diagnostics, patient monitoring systems, medical imaging and information technologies, drug discovery, performance improvement solutions, biopharmaceutical manufacturing technologies, and performance solutions. Product portfolio of company includes Achilles bone ultrasonometer, Aria DXA System, Lunar iDXA, and Prodigy.
Global Bone Densitometers Market – Regional Analysis
Globally America is the largest market for bone densitometers due to the rising burden of osteoporosis. The American market for bone densitometers is expected to reach around USD 650 million by the end of the forecast period. Europe is the second-largest market for bone densitometers. It is found that in Europe around 22 million women, and nearly 5.5 million men aged between 50-84 years are estimated to have osteoporosis. Asia pacific region is expected to be fastest growing region in bone densitometers market. Growing awareness about osteoporosis care in the emerging economies presents potential growth opportunities for bone densitometers industry.
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