NEWARK, Del, Sep 22, 2022 (GLOBE NEWSWIRE) — The global market for bone densitometer devices is expected to reach a value of US$501.4 million in 2032, with the market growing at an average CAGR of 4.1 % during the forecast period, 2022 to 2032. Valued at 324.3 million US$ in 2021, the Bone Densitometer Devices market will reach approximately 335.7 million US$ in 2022. The increasing prevalence of diseases related to bones like osteopenia, osteomalacia and osteoporotic fractures will fuel the market growth over the forecast period.
Bone densitometer devices are used to perform a non-invasive procedure to check bone density and assess bone strength. These devices are necessary when diagnosing bone-related disorders. Bone densitometers also analyze the risk of developing bone disorders. One of the major drivers of the bone densitometer devices market is the increasing incidence of knee osteoarthritis. With over 203 cases of knee osteoarthritis per 10,000 people aged 20 and over, bone densitometer devices are expected to be in high demand in the coming years.
Additionally, an increase in favorable Medicare reimbursement policies will likely drive the demand for bone densitometer devices, especially in countries like India and the United States. Medicare offers private health insurance plans for the treatment of osteoporosis, which in turn explains the ever-expanding bone densitometer device market. In addition, many manufacturers want to launch innovative products with new offerings such as low dosage technology and patented narrow beam technology. This factor, coupled with the growing need for excellent precision and accuracy, high definition image quality, and faster scanning for multiple clinical applications, will foster a growing atmosphere for the target during of the projected period.
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“Increasing awareness of bone health, more widespread knowledge about osteoporosis as well as initiatives by NGOs and government organizations will likely drive the growth of the bone densitometer devices market over the forecast period,” says an IMF analyst.
Key points to remember:
- Increased demand for accurate, rapid and high quality diagnostics to bolster market prospects.
- The high cost of the target product and limitations of bone densitometer DXA technology will hamper the market growth.
- The United States will dominate the global market space with a CAGR of 4.9%.
- The market in Germany will be driven by the increase in bone disorder awareness programs.
- Axial bone densitometer segment will grow at a CAGR of 4.2%
- In terms of technology, dual-energy X-ray absorptiometry will hold about 3/5th of the total revenue.
GE Healthcare, Hologic, Inc., OSI Systems, Inc., Diagnostic Medical Systems Group, Swissray Global Healthcare Holding, Ltd., BeamMed, Ltd., Echolight SPA, Scanflex Healthcare AB, Medonica Co., Ltd., XinGaoYi Co., Ltd., Anjue Medical Equipment, Trivitron Healthcare, Eurotec Systems Srl, AMPall Co., Ltd., Acn Accessorio Nucleare SRL, Shenzhen XRAY Electric Co., Ltd., YOZMA BMTech Co., Ltd., Nanoomtech Co. , Ltd., Osteosys Corporation, FURUNO Electric Co., Ltd., and others are some of the key players of the Bone Densitometer Devices market profiled in the comprehensive version of the report.
The major players in the market are focusing on improving the features of their products to grow their business and enter new markets. Strategies such as mergers, acquisitions and distribution agreements are also used by these companies to strengthen their position in the bone densitometer devices market.
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More information about the Bone Densitometer Devices market report
In its latest report, FMI offers an unbiased analysis of the global Bone Densitometer Devices market, providing historic data from 2011 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the global market, The market is segmented based on product type (peripheral bone densitometer, axial bone densitometer), technology (dual energy x-ray absorptiometry (DXA), dual energy peripheral radiography, absorptiometry (pDXA), quantitative ultrasound, others), user final (hospitals, clinical orthopaedists, diagnostic centers) and the region.
According to the latest IMF reports, based on the region, the bone densitometer devices market in the United States is expected to show substantial growth during the forecast period. The market in this country is expected to grow at a CAGR of 4.9% from 2022 to 2032. High prevalence of osteoarthritis cases and large overall patient population are supporting the growth of the regional market. Outside of the United States, the market for bone densitometer devices in Germany and China is expected to experience impressive growth over the assessment period.
Based on segmentation, by product type, the axial bone densitometer segment is expected to dominate the market, growing at a CAGR of 4.2%. In terms of technology, the dual-energy X-ray absorptiometry (DXA) segment is expected to lead the market growth through 2032.
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
2.3. Inclusions and exclusions
3. Key Market Trends
3.1. Key trends impacting the market
3.2. Product Innovation / Development Trends
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