How Will The Bone Densitometer Market Globally Expand In 2023?
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 Business Research Company’s bone densitometer market report forecasts the bone densitometer market size to grow to $1.45 Billion by 2027, with a CAGR (compound annual growth rate) of 5%.
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Bone Densitometer Market Size Forecast
The global bone densitometer market is expected to grow from $1.14 billion in 2022 to $1.19 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bone densitometer market size is expected to grow to $1.45 billion in 2027 at a CAGR of 5.0%.
North America held the largest bone densitometer market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Bone Densitometer Market Driver – Increase In Cases Of Osteoporosis Globally
For instance, In 2022, according to a report by Amgen, a US-based biotechnology company, an estimated 1.5 million Americans experience a fracture each year due to osteoporosis, and the associated costs total $19 billion. Therefore, the increasing cases of osteoporosis globally will drive the growth of the bone densitometer market.
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Key Bone Densitometer Market Trend – Technological Advancement
Major companies operating in the bone densitometer market are focused on providing technologically advanced solutions to meet end-customer demand and strengthen their market position. These companies are implementing next-generation bone densitometer technologies into their products such as radiography, computed tomography, fluoroscopy, mammography, diffraction, 3D visualization, modelling, and others. For instance, an Italian medical equipment manufacturer Echolight SPA offers a new bone densitometry solution, an innovative radiation-free solution for evaluating the bone situation of the lumbar vertebral column and femoral neck using proprietary R.E.M.S. (Radiofrequency Echographic Multi Spectrometry) technology. REMS technology is a revolutionary approach with radiation-free technology to characterize bone microarchitecture based on radio frequency signals acquired during a simple ultrasound scan, overcoming all the main limitations of DXA (Dual-Energy X-ray Absorptiometry) and QUS (Quantitative Bone Ultrasound).
Bone Densitometer Market Segment
1) By Type: DXA Systems, Peripheral Bone Densitometers, Radiographic Absorptiometry Scanners, Quantitative Ultrasound Scanners
2) By Application: Osteoporosis & Osteopenia Diagnosis, Cystic Fibrosis Diagnosis, Body Composition Measurement, Rheumatoid Arthritis Diagnosis
3) By End-User: Hospitals, Clinics, Diagnostic and Imaging Centers, Other End-Users
Bone Densitometer Market Major Players and Strategies
Major players in the bone densitometer market are DMS Imaging, GE Healthcare, Hologic Inc., BeamMed Ltd., Demetech AB, Echolight, Medilink, Osteometer MediTech Inc., Trivitron Healthcare, Eurotec Medical Systems srl, Xingaoyi and Medical Equipment Co. Ltd.
In April 2022, Newman Regional Health, a US-based community hospital, collaborated with Hologic for the addition of the Horizon™ DXA bone densitometry system. Through this collaboration, Newman Regional Health increased its male and female health and wellbeing offerings. The HorizonTM DXA system’s imaging technology offers excellent image quality and cutting-edge diagnostic tools to support early osteoporosis detection and treatment. Hologic is a US-based manufacturer, and supplier of diagnostics products, medical imaging systems, and surgical products.
The Bone Densitometer Global Market Report 2023 covers regional data on bone densitometer market size, bone densitometer market trends and drivers, opportunities, strategies, and bone densitometer market competitor analysis. The countries covered in the bone densitometer 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.
A bone densitometer refers to medical equipment used to calculate bone mineral density. A bone densitometer is an improved X-ray medical device used to measure the minerals and density of bones in hospitals and diagnostic centers. The bone densitometer aims to gather medical status related to loss of bone minerals, osteopenia or osteoporosis, risk of fracture, and bone-related medical conditions.
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