Bone Mineral Densitometry (BMD) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The global bone mineral densitometry (BMD) market is poised for substantial growth, with worldwide revenue reaching US$ 340 million in 2024. Market experts project an impressive CAGR of 5%, pushing the valuation to approximately US$ 480 million by the end of 2031, according to a recent market analysis report.
Driving Factors for BMD Market Growth
The bone mineral densitometry (BMD) market is on an upward trajectory, primarily fueled by advancements in technology and a growing aging population. Several key factors are contributing to this market's expansion:
• Increased Use of 3D Visualization Software: Accurate body composition measurements, high-resolution radiograph images, and reduced precision errors are aiding clinical decision-making. The adoption of 3D visualization and modeling is opening doors to new diagnostic techniques, offering significant growth opportunities for manufacturers.
• Rise in Geriatric and Post-Menopausal Population: As women age, bone density decreases, particularly after menopause, due to decreased estrogen levels, leading to a higher risk of osteoporosis. Additionally, the elderly population is at a higher risk of osteoporosis, creating lucrative opportunities for bone mineral densitometry manufacturers.
Challenges Affecting Market Growth
While the bone mineral densitometry (BMD) market shows promise, it faces certain challenges:
• High Cost Associated with Bone Densitometers: The elevated cost of bone densitometers can hinder market growth, especially in emerging Asian nations where dual-energy x-ray absorptiometry (DXA) technology is considered expensive and less accessible. Refurbished bone densitometers are being installed as a cost-effective alternative.
• Stringent Government Regulations: Stringent government regulations can pose hurdles to market growth by imposing compliance and certification requirements.
Country-wise Insights
• U.S. Market: The United States is experiencing significant growth in the BMD market, driven by a substantial population suffering from osteoporosis and related fractures. Over 1.5 million cases of fractures due to bone fragility leading to osteoporotic fractures are reported in the U.S. each year.
• Russian Market: Russia is emerging as a lucrative market for BMD due to a high number of people at risk of osteoporotic fractures. Approximately 14 million Russians suffer from osteoporosis, with an additional 20 million at high risk of osteoporotic fractures.
• China Market: China is becoming a prominent market for BMD due to the high prevalence of osteoporosis, particularly in women. WHO reports a hip incidence rate of 16.3% in China, with over 10 million men and 40 million women affected by osteoporosis.
Competitive Landscape
Key players in the bone mineral densitometry (BMD) market are focusing on product line expansion and growth in developing nations. Investments in integrated software development for bone geometry and volumetric analysis are being made to enhance bone mineral density detection. Market participants are also strengthening their regional presence through product launches, expansions, acquisitions, and collaborations.
Key Companies Profiled
• GE Healthcare
• Hologic, Inc.
• Beammed, Ltd.
• Swissray International, Inc.
• Osteosys Co. Ltd.
• Diagnostic Medical System SA
• Medonica Co. Ltd.
• Osteometer Meditech, Inc.
• Hitachi Ltd.
• CooperSurgical, Inc. (Cooper Companies)
• Dentsply Sirona Inc.
• Lone Oak Medical Technology LLC
• Scanflex Int. AB
• CompuMed, Inc.
Key Segments Covered in Bone Mineral Densitometry Industry Research
By Product:
• Axial Bone Densitometer
• Peripheral Bone Densitometer
By Technology:
• Dual Energy X-Ray Absorptiometry (DXA)
• Peripheral Dual Energy X-Ray Absorptiometry (pDXA)
• Quantitative Ultrasound (QUS)
• Others
By End User:
• Hospitals
• Orthopedic Clinics
• Diagnostic Centers
By Region:
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa (MEA)
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