The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

 The global bone and mineral diagnostic testing market is poised for growth, with an anticipated increase from $0.96 billion in 2022 to $1.02 billion in 2023, reflecting a Compound Annual Growth Rate (CAGR) of 6.1%. Looking ahead, the market is expected to reach $1.24 billion in 2027, sustaining a CAGR of 5%.

• Dynamic Growth Landscape: The market’s trajectory reveals a dynamic landscape, driven by factors such as an increase in the incidence of bone-related diseases, growing awareness, and technological advancements.

Unveiling the Drivers: Rise in Bone-Related Diseases
The surge in the incidence of bone-related diseases emerges as a prominent driver propelling the growth of the bone and mineral diagnostic testing market. These diseases weaken bones, making them more susceptible to fractures, causing symptoms like bone pain, limited mobility, and an elevated risk of fractures.

• Role of Diagnostic Tests: Diagnostic tests, particularly bone density tests, play a crucial role in preventing bone diseases. They identify low bone density before the onset of osteoporosis, predict the risk of future fractures, and monitor the effectiveness of ongoing osteoporosis treatments.
• Alarming Statistics: According to Amgen’s statistics, osteoporosis causes around 1.5 million fractures in the United States annually, incurring approximately $19 billion in associated costs. The projected increase in annual fractures caused by osteoporosis is substantial, expected to rise by 68% from 2018 to 2040.

Leading Players Shaping the Market
The bone and mineral diagnostic testing market is influenced by major players committed to advancing healthcare solutions. Key industry leaders include Abbott Laboratories, bioMérieux SA, DiaSorin S.p.A., and others.

• Industry Influencers: Abbott Laboratories, bioMérieux SA, DiaSorin S.p.A., and other major players significantly contribute to the market’s evolution. Their role in introducing innovative solutions and technologies is instrumental in meeting the industry’s evolving demands.

Riding the Wave of Technological Advancements
Technological advancements have emerged as a transformative trend gaining momentum in the bone and mineral diagnostic testing market. Companies are investing in new technologies to fortify their market positions.

• Innovative MRI Technique: In May 2022, GE HealthCare Technologies Inc. introduced an innovative MRI technique utilizing novel pulse sequences like zero echo time (ZTE). This technique provides CT-like image contrast in 3D isotropic resolution without exposing the patient to ionizing radiation. It offers detailed morphological information on cortical bone structure in anatomical structures such as the shoulder, hip, skull, foot/ankle, and spine.

Comprehensive Market Segmentation
Understanding the market’s diverse facets is crucial, and segmentation based on various criteria provides valuable insights.

• Segmentation Overview: The market is segmented by product into Assays Or Consumables and Instruments. Test types include Enzyme-Linked Immunosorbent Assay (ELISA), Clinical Laboratory Improvement Amendments (CLIA), and other test types. Applications encompass Vitamin D Testing and Bone Metabolism.

Regional Dynamics: North America Takes the Lead
Geographical variations play a pivotal role in shaping market dynamics. In 2022, North America emerged as the largest region in the bone and mineral diagnostic testing market.

• North America’s Dominance: The leadership of North America in the market underscores its significant contribution to the bone and mineral diagnostic testing sector. Moving forward, the Asia-Pacific region is expected to be the fastest-growing region during the forecast period.

View More On The Bone and Mineral Diagnostic Testing Market Report 2023 – https://www.thebusinessresearchcompany.com/report/bone-and-mineral-diagnostic-testing-global-market-report

RequestA Sample Of The Global Bone and Mineral Diagnostic Testing Market Report 2023:
https://www.thebusinessresearchcompany.com/sample_request?id=10731&type=smp

The Bone and Mineral Diagnostic Testing Global Market Report 2023 provides a comprehensive overview on the bone and mineral diagnostic testing market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the bone and mineral diagnostic testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Prosthetic Heart Valve Devices And Equipment Global Market Report 2023
Biotechnology Services Global Market Report 2023
Polymer Biomaterial Global Market Report 2023

Contact us at:
The Business Research Company:https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]

Follow us on:
LinkedIn:https://in.linkedin.com/company/the-business-research-company
YouTube:https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model:https://www.thebusinessresearchcompany.com/global-market-model