According to the report, the global bone densitometers market accounted for $34.69 million in 2016 and is expected to reach $44.22 million by 2023, registering a CAGR of 3.3% from 2017 to 2023.
Technological advances have played a significant role in the growth of the bone densitometer market. With the introduction of 3D-DXA, the efficiency of DXA scanning has been improved, and 3D models of bone 2D images can be constructed during periodic inspections. This helps a better understanding of the bone condition, bone shape, cortical bone thickness, and bone mineral density.
Rise in incidence of osteoporosis and vitamin D deficiency, rapid technological developments in the sector of bone densitometry, increase in geriatric population, and favorable reimbursement scenario in the developed countries have boosted the growth of the global bone densitometers market. However, risks associated with bone densitometers and high cost of bone densitometers hamper market growth. On the contrary, increase in awareness and rise in adoption of bone densitometers along with untapped opportunities in developing market are expected to create lucrative opportunities in the near future.
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Global bone densitometers market is divided on the basis of application, technology, end user, and geography. Based on application, the market is segmented into central scan and peripheral scan. The peripheral scan segment is projected to register a CAGR of 3.8% through 2023. The central scan segment is also expected to grow at a gradually by 2023. This is attributed to its effectiveness of reliable reference range, short scan times, rapid patient setup, and low radiation dose.
On the basis of technology, the market is divided into DEXA (Dual Energy X-ray Absorptiometry), ultrasound, and others. The ultrasound segment is estimated to grow at the fastest CAGR of 4.3% during the forecast period. However, the DEXA dominated the market is expected to continue its trend throughout the study period, owing to its high precision, safety for adults & children, and easy handling. Based on end user, the market is bifurcated into hospitals, clinics, and others. The hospital segment held the lion’s share in 2016, contributing nearly two-thirds of the market share.
The market is analyzed in various regions such as North America, North America, Europe, and LAMEA. The market in Europe held the largest share in 2016, contributing nearly two-fifths of the total market, owing to increase in incidence of osteoporosis, rise in patient awareness regarding the availability of treatment option. However, the market in the Asia-Pacific region is estimated to manifest the fastest CAGR of 5.3% through 2023.
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Global bone densitometers market report includes an in-depth analysis of the major market players including Demetech AB., BeamMed Ltd., Ecolight S.p.A., DMS Imaging (a division of the DMS group), Hologic, Inc., General Electric Company, Medonica Co. LTD, MEDILINK, Swissray International, Inc., and Osteometer MediTech, Inc.
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