Bone Densitometers Market is Anticipated to Witness High Growth Owing to Burgeoning Geriatric Population
Bone densitometers are devices used to measure bone loss due to diseases such as osteoporosis. Bone densitometer scans provide important information about bone health and fracture risk. These devices help in the diagnosis and management of various bone-related diseases. The growing geriatric population is more susceptible to bone-related conditions such as osteoporosis, thereby augmenting the demand for bone densitometer scans. The demand for early diagnosis of bone disorders to curb fracture risks is also fueling market growth.
The Global Bone Densitometers Market is estimated to be valued at US$ 313.05 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the Bone Densitometers market are GE Healthcare, Hologic, Inc., Swissray Global Healthcare Holding, and BeamMed Ltd. GE Healthcare is the market leader with its broad range of bone densitometers devices.
The growing awareness about osteoporosis and early diagnosis is opening lucrative opportunities for players to introduce innovative portable and affordable bone densitometers. Market players are investing in R&D to develop advanced dual-energy X-ray absorptiometry devices with enhanced precision and versatility.
Bone densitometers manufacturers are focusing on expanding their presence across developing regions in Asia Pacific and Latin America. Favorable government initiatives to curb osteoporosis are encouraging global players to tap into untapped growth opportunities in emerging markets.
Market Drivers
Burgeoning geriatric population worldwide: The rising life expectancy has significantly increased the number of elderly population who are prone to bone disorders. According to the United Nations, the global population aged 60 years or older is projected to double from 12% to 22% between 2015 and 2050. This growing geriatric demography is driving the demand for bone densitometers.
Increasing prevalence of osteoporosis: Osteoporosis causes bones to weaken and become brittle, making them prone to fractures. The rising prevalence of osteoporosis due to sedentary lifestyles and malnutrition is driving the need for routine bone density scans.
Market Restraints
High device costs: Bone densitometers devices have high purchase and maintenance costs, limiting widespread adoption, especially in emerging markets. This remains a major barrier.
Stringent regulatory policies: Large capital investments and compliance with stringent regulatory policies make market entries difficult for new players. Regulations also increase compliance costs for established players.
Segment Analysis
The bone densitometers market can be segmented by technology, application and end user. By technology, the DXA segment dominates the market as it is considered the gold standard for measuring bone mineral density. DXA scanners provide precise and quick scans to diagnose osteoporosis. By application, the central scanners segment holds the largest share as these devices are used for spinal and hip fracture assessment. Hospitals is the major end user segment due to the large patient pool and availability of diagnostic facilities.
Global Analysis
North America leads the global bone densitometers market, supported by rising osteoporosis prevalence and favourable reimbursement policies. The Asia Pacific region is projected to grow at the fastest pace during the forecast period due to growing geriatric population, increasing awareness about osteoporosis, and improving healthcare infrastructure. Key players are focusing on emerging markets through partnerships and new product launches to capitalize on high growth opportunities.
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
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