Anticipated to exceed US$ 347.7 million in 2023, the global market value of Bone Densitometer Devices is poised to attain US$ 525.0 million by 2033, driven by a steady 4.2% compound annual growth rate (CAGR) spanning from 2023 to 2033. These cutting-edge devices employ a non-invasive technique to assess bone density and gauge bone strength, proving essential for both diagnosing bone-related ailments and evaluating the susceptibility to their onset.
Bone densitometer devices are used to perform a non-invasive procedure to check the bone density and gauge the strength of bones. These devices are necessary while diagnosing bone-related disorders.
Bone densitometers also analyze the risk of developing bone disorders. One of the major market drivers for bone densitometer devices is the rising incidences of knee osteoarthritis. With over 203 knee osteoarthritis cases for every 10,000 persons, 20 years of age and above, bone densitometer devices are expected to be in high demand in the upcoming years.
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Moreover, a surge in favorable reimbursement policies by Medicare will likely spur the demand for bone densitometer devices, particularly in countries like India and the U.S. Medicare provides private health insurance plans for the treatment of osteoporosis, which in turn accounts for the increasing expansion of the bone densitometer devices market. Also, many manufacturers are keen on releasing innovative products with novel offerings like low dosage and patented narrow-fan beam technology.
This factor coupled with the rising need for excellent precision and accuracy, high definition image quality, and faster scan for multiple clinical applications will foster an atmosphere of the growth for the target over the projected period.
Key Takeaways:
- Heightened demand for precise, speedy and high quality diagnosis to strengthen the market prospects.
- High cost of the target product and limitations of the DXA technology of bone densitometer device will impede market growth.
- The U.S. will dominate the global market space with a CAGR of 4.9%.
- The market in Germany will be driven by increasing bone disorder awareness programs.
- Axial bone densitometer segment will grow at a CAGR of 4.2%
- In terms of technology, Dual Energy X-Ray Absorptiometry will hold about 3/5th of total revenue.
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Competitive Landscape
GE Healthcare, Hologic, Inc., OSI Systems, Inc., Diagnostic Medical Systems Group, Swissray Global Healthcare Holding, Ltd., BeamMed, Ltd., Echolight S.P.A, Scanflex Healthcare AB, Medonica Co., Ltd., XinGaoYi Co., Ltd., Anjue Medical Equipment, Trivitron Healthcare, Eurotec Systems S.r.l, AMPall Co., Ltd., L’acn L’accessorio Nucleare S.R.L, Shenzhen XRAY Electric Co., Ltd., YOZMA BMTech Co., Ltd., Nanoomtech Co., Ltd., Osteosys Corporation, FURUNO Electric Co., Ltd ., and others are some of the major players in the bone densitometer devices market profiled in the full version of the report.
Leading market players are concentrating on improving their product features to expand their business and enter new markets. Strategies like mergers, acquisitions, and distribution agreements are also employed by these enterprises to strengthen their position in the bone densitometer devices market.
Bone Densitometer Devices Market by Category
By Product:
- Peripheral Bone Densitometer
- Axial 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
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