June 25, 2024

Bone Densitometers Market Trends: Advancements in Bone Health Assessment Technology

Bone Densitometers Market

Bone densitometers are medical devices that use X-ray technologies such as dual-energy X-ray absorptiometry (DXA) and peripheral dual energy X-ray absorptiometry (pDXA) to measure bone loss in order to screen patients for and diagnose osteoporosis. Bone densitometers help identify bone fractures and cancer and monitor the effectiveness of osteoporosis drugs or treatments. The rising geriatric population and growing prevalence of osteoporosis are fueling the demand for bone densitometers.

The Global Bone Densitometers Market is estimated to be valued at US$ 313.05 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.

Key Takeaways
Key players operating in the Bone Densitometers Market are GE Healthcare, Hologic, Inc., Swissray Global Healthcare Holding, and BeamMed Ltd. GE Healthcare and Hologic Inc. currently dominate the market.
Key opportunities in the market include development of portable and low-cost bone densitometers to improve access in remote areas and emerging economies. Moreover, integration of technologies like artificial intelligence and 3D imaging is expected to make bone mineral density assessments more precise.
The Bone Densitometers Market is expected to witness high growth in Asia Pacific owing to rapidly growing population, increase in healthcare expenditure, and rising awareness about osteoporosis. North America and Europe will also see significant demand due to the presence of major players and rising prevalence of lifestyle diseases in the regions.

Market Drivers
One of the key drivers for the Bone Densitometers Market is the rapidly increasing geriatric population globally which is more prone to osteoporosis and bone diseases. As per the UN’s World Population Ageing report, the number of people aged 65 years or above is projected to grow from 703 million in 2019 to 1.5 billion in 2050. This growing demographic will drive the need for bone health assessment devices like bone densitometers.

PEST Analysis

Political: Bone densitometer suppliers need to comply with regulations set by regulatory bodies like the FDA for medical devices. Regulations help ensure safety and effectiveness of bone densitometry tests.

Economic: Rising healthcare expenditure and increasing healthcare access in developing nations is expected to drive the bone densitometers market. Affordability of tests affects purchase decision.

Social: Osteoporosis is becoming a major concern worldwide due to the aging population. Lifestyle changes have contributed to osteoporosis rates. Raising awareness can increase demand for bone density scans.

Technological: Manufacturers are developing advanced bone densitometers with improved accuracy, speed and portability. Digital radiography and computer-aided diagnosis help provide precise bone mineral density readings to detect osteoporosis early.

Geographical concentration

North America accounts for the largest share of the bone densitometers market in terms of value driven by demand in the US and Canada. Established healthcare infrastructure, availability of insurance coverage for bone density tests, and awareness of osteoporosis contribute to high adoption rates.

Fastest growing region

The Asia Pacific region is expected to witness the fastest growth during the forecast period due to rising healthcare expenditure, growing geriatric population, and increasing incidence of osteoporosis. Countries like China and India represent major markets and present lucrative opportunities for bone densitometers suppliers to expand.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it