Bone Densitometers - Market Insights, Competitive Landscape and Market Forecast-2027

Bone Densitometers - Market Insights, Competitive Landscape and Market Forecast-2027

Bone Densitometers Market By Technology (Axial Bone Densitometry [Central Dual-Energy X-Ray Absorptiometry (DEXA), Quantitative Computed Tomography (QCT)], Peripheral Bone Densitometry [Peripheral Dual-Energy X-Ray Absorptiometry (PDEXA), Peripheral Quantitative Computed Tomography (PQCT), Quantitative Ultrasound, Others]), By End-User (Hospitals, Diagnostic Centers, Others), by geography is expected to grow at a steady CAGR forecast till 2027 owing to rising prevalence of osteoporosis and growing burden of the elderly population

Global Bone Densitometers market was valued at USD 730.18 million in 2021, growing at a CAGR of 4.15% during the forecast period from 2022 to 2027 to reach USD 935.18 million by 2027. The Bone Densitometers market is witnessing a positive market growth owing to the factors such as the rising prevalence of osteoporosis across the globe, increasing prevalence of rheumatoid arthritis and cystic fibrosis, the growing burden of the elderly population, high adoption of densitometers, rising number of products specific to bone densitometers in development with the scope of entering the market in coming years are further expected to present a positive environment for the bone densitometers market during the forecast period.

Bone Densitometers Market Dynamics:

The Bone Densitometers market is witnessing a growth in product demand owing to various reasons, one of the key factors being the rising prevalence of Osteoporosis. According to the Centre of Health Informatics (CHI), in the year 2019, osteoporosis was considered a global health problem. Worldwide, fractures tend to affect one in three women and one in five men over the age of 50.

As per the International Osteoporosis Foundation 2021, in the year 2019, across Europe (European Union, plus Switzerland and the United Kingdom) 32 million individuals aged 50+ have been estimated to have osteoporosis, equivalent to 5.6% of the total European population aged 50+, or approximately 25.5 million women (22.1% of women aged +50) and 6.5 million men (6.6% of men aged +50).

Due to the increased prevalence of osteoporosis, there will be a higher demand expected for bone densitometers market in the forecast period.

Another key factor responsible for the increasing demand for bone densitometers is the rise in the geriatric population that is highly prone to osteoporosis and osteopenia disorders, thereby spurring the bone densitometers market during the forecasted period.

As per the data provided by the United Nations Report on World Population Aging, in the year 2020, globally, there were about 727 million people aged 65 years or over. As per the same source, the number of older persons worldwide can be projected to be more than double reaching over 1.5 billion people in the year 2050. Age is considered as one of the key risk factors associated with fractures and bone-related disorders, therefore, the rising elderly population is expected to lead to the rise in the patient population across the world, which in turn would lead to an increase in demand for Bone Densitometers in the forecast period (2022-2027), which will drive the Bone Densitometers market growth.

However, lack of awareness amongst people regarding bone densitometers and the high cost of procedures may be certain limiting factors of the Bone Densitometers market growth.

The outbreak of the pandemic led to the cancellation of outpatient visits and the suspension of non-emergency hospitals and procedures. This resulted in the reduced number of routine clinical examinations and related procedures. However, vaccine development of COVID-19 has initiated the process of economic recovery with the easing of lockdown restrictions and the return of normalcy in the economic landscape which has initiated the process of resumption of regular healthcare services such as outpatients visits and resumption of healthcare services, thereby bringing the demand for products on track in the Bone Densitometers market.

Bone Densitometers Market Segment Analysis:

Bone Densitometers Market By Technology (Axial Bone Densitometry [Central Dual-Energy X-Ray Absorptiometry (DEXA), Quantitative Computed Tomography (QCT)], Peripheral Bone Densitometry [Peripheral Dual-Energy X-Ray Absorptiometry (pDEXA), Peripheral Quantitative Computed Tomography (pQCT), Quantitative Ultrasound, Others]), By End-User (Hospitals, Diagnostic Centers, Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the Product segment of the Bone Densitometers Market, the Central Dual-Energy X-Ray Absorptiometry (DEXA) is estimated to hold the highest share in the Bone Densitometers market during the forecast period (2022-2027), around 72%. This technology is considered the gold standard for bone density analysis due to the benefits associated with the technology such as the amount of radiation used in these systems being significantly lower than conventional X-rays and other radiographic technologies, thereby massively increasing their safety profile for repetitive scanning. DEXA offers several advantages over Peripheral Bone Densitometers including high accuracy, fewer errors.

Another added advantage associated with DEXA is the high adoption of these densitometers based on this technology. The rising adoption rate can be attributed owing to the fulfillment of various requirements of clinicians by DEXA bone densitometers.

Therefore, considering the advantages associated with Axial Bone Densitometers, this product category is expected to generate significant revenue share eventually contributing to the overall growth of the global Bone Densitometers market in the forecast period.

North America is expected to dominate the overall Bone Densitometers Market:

Among all the regions, North America is expected to account for the largest share in the Global Bone Densitometers market, 48%. Factors such as the growing prevalence of osteoporosis, and the rising prevalence of diseases act as risk factors for low bone density among the population. Also, supportive government policies promoting proper management of osteoporosis, increase in sedentary lifestyle, among others are the factors responsible for bone densitometer market growth.

As per the data provided by the Centers for Disease Control and Prevention (CDC) in the year 2021, the age-adjusted prevalence of osteoporosis at either the lumbar spine or the femur neck or both were reported to be 12.6% among the adults aged 50 and over. In 2017-2018, the data also stated that the prevalence was higher in women (19.6%) as compared to men (4.4%).

Thus, an increase in the patient pool is expected to surge the demand for bone densitometer in the region for timely determination of the future risk of fractures.

Moreover, approval of bone densitometers manufactured by key companies such as General Electric Company, Hologic, Inc., and OSI Systems, Inc., among others present in the region would also contribute to the market growth. For instance, in the year 2018, GE Medical Systems Ultrasound & Primary Care Diagnostics, LLC, a subsidiary of General Electric Company received FDA approval for Aria, an X-ray Bone Densitometer to estimate the bone mineral density of patients.

Factors such as products launch in the local markets, providing at-home care, are all pushing the product demand in the market. Therefore, the interplay of various factors such as the presence of a large patient population as well as new product launches in the region is expected to boost the North America Bone Densitometers market during the forecast period.

Bone Densitometers Market Key Players:

Some of the key market players operating in the Bone Densitometers market include General Electric, Hologic Inc., Xingaoyi Medical Equipment Co. Ltd., Swissray, Echolight S.p.a, Eurotec Medical Systems srl, Trivitron Healthcare, BeamMed Ltd., Scanflex Healthcare AB, Medonica Co. LTD, OsteoSys Corp, CyberLogic, Inc., Oscare Medical Oy, L'Acn Srl., Shenzhen Xray Electric Co., Ltd., YOZMA BMTech Co., Ltd., Nanoomtech Co., Ltd., FURUNO Electric Co., Ltd., Osteometer MediTech, Inc. (OSI Systems, Inc.), Diagnostic Medical Systems Group and others.

Recent Developmental Activities in the Bone Densitometers Market:

• On June 16, 2021, Echolight officially landed in India by the signing of a commercial agreement with an important local partner in Chandigarh, in the north of India for the distribution of the entire range of products throughout the Indian territory.
• On May 30, 2019, Hologic, Inc. announced its partnership with DEXA+ to distribute DXA system for body composition measurement. The Partnership allowed Hologic to expand its expertise in body composition assessment and the reach of its market-leading DXA system.

Key Takeaways from the Bone Densitometers Market Report Study

• Market size analysis for current Bone Densitometers market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Bone Densitometers market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the global Bone Densitometers market.
• Various opportunities available for the other competitor in the Bone Densitometers market space.
• What are the top performing segments in 2021? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current Bone Densitometers market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Bone Densitometers market growth in the coming future?

Target Audience who can be benefited from this Bone Densitometers Market Report Study

• Bone Densitometers products providers
• Research organizations and consulting companies
• Bone Densitometers-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Bone Densitometers
• Various End-users who want to know more about the Bone Densitometers market and latest technological developments in the Bone Densitometers market.

Frequently Asked Questions for Bone Densitometers Market:

1. What is Bone Densitometers?

A bone densitometer is an enhanced form of X-ray technology that is capable of measuring bone mineral density (BMD). The devices use small doses of ionizing radiation for producing images inside the body, that involve the lower spine or hips for measuring bone loss.

2. What is the market for Global Bone Densitometers?

Global Bone Densitometers market was valued at USD 730.18 million in 2021, growing at a CAGR of 4.15% during the forecast period from 2022 to 2027 to reach USD 935.18 million by 2027.

3. What are the drivers for Global Bone Densitometers Market?

The Bone Densitometers market is witnessing a positive market growth owing to the factors such as the rising prevalence of osteoporosis across the globe, increasing prevalence of rheumatoid arthritis and cystic fibrosis, the growing burden of the elderly population, high adoption of densitometers, rising number of products specific to bone densitometers.

4. Who are the key players operating in the Global Bone Densitometers Market?

Some of the key market players operating in the Bone Densitometers market include General Electric, Hologic Inc., Xingaoyi Medical Equipment Co. Ltd., Swissray, Echolight S.p.a, Eurotec Medical Systems s.r.l., Trivitron Healthcare, BeamMed Ltd., Scanflex Healthcare AB, Medonica Co. LTD, OsteoSys Co. Ltd., CyberLogic, Inc., Oscare Corp, L'Acn S.r.l., Shenzhen Xray Electric Co., Ltd., YOZMA BMTech Co., Ltd., Nanoomtech Co., Ltd., FURUNO Electric Co., Ltd., Osteometer MediTech, Inc. (OSI Systems, Inc.), Diagnostic Medical Systems Group, and others.

5. Which region has the highest share in Bone Densitometers Market?

North America is expected to hold the highest share in the revenue in the Bone Densitometers market during the forecast period. Factors such as the growing prevalence of osteoporosis, and the rising prevalence of diseases act as risk factors for low bone density among the population. Also, supportive government policies promoting proper management of osteoporosis, increase in sedentary lifestyle, among others are the factors responsible for bone densitometer market growth.

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