Bone Densitometers Market To Be Driven By Rising Geriatric Population With a Higher Susceptibility For Bone-Related Ailments And Technological Advancements.
Bone densitometers are used to measure the level of calcium and other minerals present in a particular bone section. According to a report published by Market Research Future (MRFR), the global Bone Densitometers Market has been estimated to value at USD 1.2 Billion by 2022, growing at a 5.3% CAGR of over the forecast period. The rise in geriatric population with a higher susceptibility for bone-related ailments, technological advancements that are improving the healthcare services offered, are the primary driving factors of the market and are expected to drive the global bone densitometers market over the forecast period.
Segmentation
The global market for bone densitometers has been segmented based on type, technology, end-user, and region. Based on the type, the market has been segmented into central scanners, peripheral scanners, and others. Based on technology, the market segmented into quantitative computed tomography (QCT), radiographic absorptiometry (RA), single x-ray absorptiometry (SXA), dual-energy x-ray absorptiometry (DXA) and others. The QCT and the DXA segment have been assessed to grow at a comparatively higher CAGR through the forecast period, owing to their sharp accuracy and precision levels in comparison with other bone densitometry technologies.
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Based on the end-user, the market is segmented into hospitals, orthopedic clinics, academic & research institutes, and others. Among these, the hospital end-user is estimated to account for the largest market share over the forecast period, owing to the growing proclivity of government organization towards the advancement of the healthcare sector and towards the adoption of advanced diagnostic devices, and the increasing use of automated diagnosis systems which has enabled diagnosis of chronic, life-threatening diseases at an early stage. Based on the region, the global bone densitometers market is segmented into North America and South America, Europe, Asia Pacific, and the Middle East and Africa.
Regional Analysis
The North and South American region holds the largest market share in the global bone densitometers market and is estimated to sustain its market standing over the forecast period, owing to the technological advancements in North America. The U.S. is a massive contributor, due to the availability of bone densitometers, the increasing prevalence of osteoporosis, high expenditure on the healthcare sector, and the presence of favorable reimbursement policies for the diagnosis of osteoporosis.
Europe is the second largest regional market bone densitometers, owing to the technological advancements, in the region, the presence of major market players in established economies such as France, Germany, Italy, Spain, and the United Kingdom (UK).
Asia Pacific region has been assessed to rise as the fastest growing region in the bone densitometers market during the forecast period. China, India, Japan, and South Korea, are the major developing countries that contribute to the global bone densitometers market, followed by the rest of the Asia Pacific region. In recent years, technological advancements have helped the Aisa Pacific region to develop at a steady rate and improved the healthcare sector, which are favorable factors for the bone densitometers market in the region.
The Middle East and Africa region are estimated to witness limited the market growth due to the lack of awareness about proper healthcare facilities, lack of education for skilled experts, lack of technological development, political instability, and the healthcare sector are underdeveloped.
Key Players
The key market players in the global bone densitometers market are Tecnicare Healthcare Company (USA), General Electric Company (USA), MedWrench LLC (USA), Hologic, Inc. (the USA), Schick Sirona (USA), Swissray (USA), DMS Imaging (France), Echolight SPA (Italy), Osteosy s Co. Ltd (South Korea), and Aarna Systems And Wellness Pvt. Ltd. (India).
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