Bone Densitometer Market Current Trends and Developments Opportunities
The global bone densitometer market is subject to witness a substantial growth due to the growing prevalence of osteoporosis disorder across the globe. Favorable government policies and rise in the number of promotional activities by private players are expected to drive market growth over the next seven years. Globally, the market is predicted to grow at significant CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the bone densitometer market.
Growing prevalence of osteoporosis disorder has led to high-end demand for bone densitometers to perform efficient assessment, thus propelling the growth of the market in the past few years. In addition, the rising geriatric population, which is highly susceptible towards osteoporosis disorder, is key factor for sustained market growth in the recent years.
Furthermore, increasing occurrence of osteoporosis disorder among menopausal women is expected to foster market growth over the forecast period. As per current reports published by International Osteoporosis Foundation, as many as two hundred million women are suffering from osteoporosis disorders across the globe.
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The recent technological advances in healthcare sector coupled with introduction of integrated digital detectors and computer-assisted & ultrasound densitometers are expected to fuel market demand for bone densitometer. Bone densitometer tools offer ease of operation as well as reduced measurement time. Increasing demand for ultrasound bone densitometers in diverse medical application such as gynecology, endocrinology, and others is expected to favor market demand over the coming years.
Increasing number of collaborative research initiatives and new product developments undertaken by leading industry participants is predicted to offer lucrative growth opportunities in the near future. Development of advanced techniques in osteoporosis diagnostics is forecasted to steer industry expansion in the upcoming years.
The market is broadly categorized into two major segments based on the application type such as hospitals and clinics. The hospital is considered as one of the fastest growing segment in the bone densitometer market with substantial revenue generation in the last few years. Growing popularity of bone densitometer in the hospital segment is attributed to the higher market penetration.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in pharmaceutical & medical sector, increase in the number of research & development activities in the region and existence of well-established healthcare infrastructure.
Asia-Pacific region is predicted to hold major market share in the bone densitometer market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with improved healthcare infrastructure in the region, rising medical expenditure by local governments, growing awareness among general population, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the bone densitometer market are GE Healthcare, Inc., Hologic Inc., Beammed, Swissray International Inc., Osteosys Co., Ltd., Diagnostic Medical System S.A., Medonica Co., Ltd., Osteometer Meditech Co., and Lone Oak Medical Technologies LLC.
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