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Bone Densitometers Market Is Predicted To Grow With A CAGR Of 3.9% Till 2025 | Million Insights

Bone Densitometers Market Is Predicted To Grow With A CAGR Of 3.9% Till 2025 | Million Insights

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According to new report available with Million Insights, The market size of global bone densitometers was worth USD 893.7 million in the year 2016 and is predicted to grow with a CAGR of 3.9% during the forecast period. The rise in osteoporosis incidence in menopausal women is anticipated to be a key growth contributor.

Industry Insights:

The market size of global bone densitometers market was worth USD 893.7 million in the year 2016 and is predicted to grow with a CAGR of 3.9% during the forecast period. The significant increase in prevalence of osteoporosis on global level is the major driving force. This has led to an upsurge in demand for efficient assessment with the use of bone densitometers. In addition, the increase in geriatric population base, which is more susceptible to metabolic bone diseases, is expected to provide lucrative growth opportunities.

The rise in osteoporosis incidence in menopausal women is anticipated to be a key growth contributor. According to International osteoporosis foundation, over 200 million females are suffering from this disease globally with 1/10th belonging to 60 years, 2/5th in 80 years’ group, 1/5th in 70 years and 2/3rd in 90 years’ age group. Moreover, every 1 out of 3 women above the age of 50 years were seen to suffer from fragility fractures once in their lifetime. According to a report published by National Institutes of Health Osteoporosis and Related Bone Diseases, various lifestyle-related factors including smoking, alcohol abuse and sedentary lifestyle are major contributors for development of osteoporosis in males. The above mentioned factors provide a clinical urgency to reduce this disease burden and hence fuel the rate of adoption of these assessment devices to suffice early diagnosis.

Additionally, advent of technologically advanced products such as ultrasound & computer assisted densitometers and integrated digital detectors cater to the needs of technicians and physicians by reducing measurement time and facilitating easy operations. The use of ultrasound based densitometers has increased to wide range of fields including endocrinology, gynecology and various others. Furthermore, the increase in demand for these devices can be attributed to the collaborative initiatives undertaken by key companies for research and development of new products to enhance the diagnostic tools for advanced skeletal assessment. Also, funds for research by various healthcare organizations for development of technologically advanced products are also projected to drive the market. For instance, Lunar Expert developed by GE Healthcare provides spatial resolution leading to enhanced risk assessment and identification via advanced visualization.

Full Research Report On Global Bone Densitometers Market Analysis available at: https://www.millioninsights.com/industry-reports/bone-densitometers-market

Technology Insights:

The largest share in the technology segment was held by axial bone densitometers with over 60.0% in 2016 as a consequence of consistent adoption rate of these devices. The fulfillment of various requirements and needs of clinicians by usage of these devices can be attributed to the increasing penetration rate of the technology. These majorly include the central dual energy x-ray absorptiometry, technology based tools which are crucial for accurate diagnostic results.

Moreover, the usage of these bone assessment devices are predicted to be a result of enhanced precision, sensitivity, optimum linearity leading to reduced variation in diagnostic performance. The above mentioned factors along with their cost effective nature are responsible for the high adoption of these by clinicians.

End-use Insights:

The major share was held by hospitals in 2016 owing to the large volume of patients and frequent readmission. Moreover, sophisticated infrastructure facilitating high efficiency of diagnostic procedures with bone assessment devices is expected to drive the hospital segment.

The rise in initiatives by healthcare organizations to promote technologically advanced and sophisticated instruments for rapid result generation also serves as a key growth driving factor. In addition, hospitals in present scenario are using totally automated systems having the ability for assessment of conditions at an early stage. The aforementioned factors are predicted to positively impact the segment growth during the forecast period.

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Regional Insights:

The market was dominated by North American region in 2016 owing to the rising osteoporosis burden of the region. Various strategic initiatives by prominent market players for improvement of R&D capabilities and maintaining high medical standards are anticipated to drive the regional demand.

The growth across Asia Pacific region is expected to be exponential throughout the forecast period with a CAGR of xx%. The high growth can be attributed to the rise in demand to reduce the existing prevalence, increased disposable income and improvements is infrastructure of healthcare facilities. The developing economies including China and India presents a potential growth opportunity in the forecast period owing to the high awareness level related to osteoporosis care.

Competitive Insights:

The intensive competition in the industry is expected to rise throughout the forecast period as a consequence of increasing number of strategic initiatives such as new product development, R&D investments, acquisitions and mergers by prominent market players to maintain their competitive edge over the other companies.

For example, Hologic, Inc. in August 2014 received regulatory approval for horizon DXA platform in Canada having workflow efficiencies and enhanced technical capabilities. The integrated ceramic detector array and high resolution achieved by the devices helps in enhanced stability, precision, image quality and skeletal mapping.

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/medical-devices

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