Bone Densitometer Devices Market

Bone Densitometer Devices Market Size (2023 to 2028)

The global bone densitometer devices market is projected to grow at a CAGR of 4.1% from 2023 to 2028.

Impact of COVID-19 on the global bone densitometer devices market:

Since the COVID-19 virus outbreak in December 2019, the virus has spread globally, and the World Health Organization declared it a pandemic. The COVID-19 pandemic significantly impacted the growth of the global bone densitometer devices market in the recent past; owing to the government-imposed lockdowns worldwide, the need for instruments to measure bone density regularly while remaining indoors has increased significantly. On the other hand, the densitometer's research and development have slowed down due to a shift in focus on developing a vaccine for COVID-19. Now that the world is getting back to normal, the growth of the bone densitometer devices market is expected in the coming future. However, the bone densitometer devices market is expected to register a healthy growth rate during the forecast period.

MARKET DRIVERS:

The global bone densitometer devices market is driven by a considerable rise in osteoporosis cases globally, leading to an increase in demand for bone densitometers for efficient assessment, thereby broadening the growth potential over the coming years.

Additionally, the growing geriatric population susceptive to osteoporosis and the upsurge in osteoporosis pervasiveness in menopausal women are anticipated to drive the market’s growth rate. Lifestyle-associated habits such as a sedentary lifestyle, alcoholism, and smoking are the principal causes of this disease in the male population. Over the years, consistent technological advancements, such as the advent of integrated digital detectors and computer-assisted & ultrasound densitometers, exhibited high ease of the procedure and reduced measurement time. The ultrasound bone densitometers have allowed evaluation in diverse medical specializations, such as gynecology and endocrinology.

The increasing growth is also believed to result from collaborative research initiatives, research funding opportunities by healthcare organizations, and new product developments undertaken by prominent market players consistently striving to enhance osteoporosis diagnostics.

MARKET RESTRAINTS:

High cost and risks associated with bone densitometers are significant factors limiting the bone densitometer devices market growth.

Fewer bone densitometer device installations due to the high costs associated with the instruments could hamper the growth of the bone densitometer devices market. Moreover, the confined access to diagnostic tools and equipment in remote areas and a shortage of skilled professionals could hinder the progress of the bone densitometers market to some extent over the forecast period.

REPORT COVERAGE:

This research report on the global body composition analyzers market has been segmented and sub-segmented into the following categories.

Bone Densitometer Devices Market – By Speciality:

• Cardiology               
• Dermatology         
• Neurology              
• Orthopedics          
• Emergency Care  
• Gynecology          

Bone Densitometer Devices Market – By Services:

• Tele-Consultation
• Tele-Monitoring  
• Tele-Education     
• Tele-Surgery         
• Tele-Training         

Bone Densitometer Devices Market – By End Users:

• Hospitals
• Clinics

In 2022, hospitals & specialty clinics accounted for the largest share of the bone densitometer devices market, which can be attributed to the frequent readmissions and high patient volume. Besides, sophisticated infrastructure facilitates high efficiency in diagnostic procedures involving bone densitometers, thereby adding to a higher share of hospitals.

The increasing inclination of government healthcare organizations to promote advanced diagnostic instruments that generate rapid results also serves as one of the major factors responsible for the segment's substantial share. Furthermore, hospitals increasingly use fully automated systems to assess this condition in the present scenario's early stages. These factors cumulatively are also expected to positively influence segment growth in the coming years.

Bone Densitometer Devices Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Geographically, a significant share of the global bone densitometer devices market was accounted for by the North American region in 2022. On the other hand, the Asia Pacific is proposed to exhibit the highest CAGR in the forecast period. The dominance of the North American region can be attributed to the collaborative efforts initiated by prominent regional organizations to improve their R&D abilities and maintain high medical criteria. In addition, the majority share of this region is also due to the high osteoporosis burden.

The Asia Pacific market is anticipated to grow at an exponential CAGR during the forecast period. This growth is predicted to result from high demand to curb the increasing prevalence, increasing disposable income, and infrastructural improvements in healthcare facilities. In addition, growing awareness about osteoporosis care in emerging economies, such as India and China, will present the bone densitometers industry with potential growth opportunities in the future.

TOP COMPANIES IN THIS MARKET:

Companies playing a key role in the global bone densitometer devices market profiled in this report are Lone Oak Medical Technologies LLC, GE Healthcare, Osteometer Meditech, Hologic Inc., Beammed, Medonica Co. Ltd., Swissray International Inc., Diagnostic Medical System SA, and Osteosys Co. Ltd.

RECENT HAPPENINGS IN THIS MARKET:

• DEX+ and Hologic signed a distribution agreement in May 2019 to distribute DEX+'s body composition measurement products.
• In February 2016, Trivitron Group launched the Labsystems Diagnostics IVD factory, which houses a range of medical devices and equipment on one campus. It will be the park's third manufacturing plant, which will begin commercial development shortly.
• In 2014, CASIS research launched aboard a SpaceX spacecraft to the International Space Station. The Bone Densitometer, the first X-ray machine installed on the space station, is part of the hardware and life science research funded by CASIS for the national laboratory of the space station.