According to the latest report published by Credence Research, Inc. “Bone Densitometers Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global Bone Densitometers market was valued at US$ 889.5 Mn in 2016, and is expected to reach US$ 1,187.0 Mn by 2025, expanding at a CAGR of 3.2% from 2017 to 2025.
[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]
Growth in the geriatric population and increased incidence of orthopedic disorders such as osteoporosis, osteoarthritis, Paget’s disease and others have a high impact on the growth of the bone densitometer market. Growth in screening programs taken by government and non-government bodies to effectively control care and management costs for bone disorders is additionally leading to increased demand for diagnostic instruments such as bone densitometers. Increased awareness of the prevention and management of orthopedic disorders and the corresponding need for rapid diagnosis are opening up further avenues in this market. Conversely, insufficient coverage of bone density tests in emerging and underdeveloped economies and continued preference for refurbished devices are, however, slowing down the growth of the bone densitometer market in selected regions.
In terms of available technologies, the global market for bone densitometers is divided into axial and peripheral bone densitometry and further into their constituent subtypes. Peripheral bone densitometry, among the technologies available, has a larger market share and will continue to dominate over the forecast period. Larger number of constituent innovations and improved results are factors that contribute to the dominance of this group.
Increasing numbers of fractures and subsequent hospitalization have made hospitals and specialist clinics the largest area of use for bone densitometers. The same factor also contributes to the fastest growth of the market in this segment, among others. In addition, growing research and development initiatives to develop the best treatment, treatment regimens and modules for orthopedic disorders have provided lucrative opportunities for bone densitometer manufacturers in research and academia.
Geographically, Asia Pacific is the fastest progressing regional market for bone densitometers. Emerging economies such as China, India, and others offer significant opportunities for market penetration. Furthermore, growing scope for medical tourism in countries such as Philippines, India and others offer further growth opportunities in Asia Pacific market. North America and Western Europe together occupy the largest revenue share for bone densitometers on the collective ground of existence of developed healthcare infrastructure, and greater patient awareness. In terms of market competition, the global bone densitometers market is highly consolidated with a selected companies occupying greater market share. The threat of new entrants in this market is also relatively low.