Bone Densitometer Market Expected to Reach $57,422.62 Million by 2030

According to a new report published by Allied Market Research, titled, “Bone Densitometer Market by Application, Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030," the bone densitometer market was valued at $38,399.92 million in 2020, and is estimated to reach $57,422.62 million by 2030, growing at a CAGR of 4.1% from 2021 to 2030.

A bone densitometry is precisely used to measure the bone density and mineral content to diagnose clinical conditions such as osteoporosis that may cause brittle bones prone to fracture. It is available in different types such as dual energy X-ray absorptiometry, DEXA, and DXA,  which use a small dose of ionizing radiation to produce images of the lower spine to measure bone loss.

Upsurge in incidence of accidents and rise in prevalence of osteoporosis cases are expected to drive the bone densitometer market. However, high cost of bone densitometer products hinders the market growth. Conversely, huge untapped market potential in the emerging countries, such as China and India, are expected to provide lucrative opportunities to the market players.

According to the International Osteoporosis Foundation, approximately 8.9 million fractures reported in 2020. In addition, as per the World Health Organization, in 2020, the osteoporosis disease affects 6.3% of men and 21.2% of women aged above 50 . Hence, the growth in burden of osteoporosis cases increase the use of bone densitometer,  significantly boosting the growth of the market. Moreover, increase in large number of key players is expected to drive the growth of the bone densitometer market.

According to the International Journal of Women’s Health, in India, around 50 million people are estimated to be suffer from osteoporosis with less than T-score 2.5 or have low bone mass with T-score ranging between 1 to 2.5. It is one of the major health problem faced by Indian population, thereby propelling the growth of the bone densitometer market.

On the basis of technology type, the dual energy x-ray absorptiometry segment is expected to register significant growth rate during the forecast period, owing to rise in prevalence of osteoporosis. Moreover, recent approvals granted by the FDA boost the growth of bone densitometer market. On the basis of application type, the central scan segment is expected to register significant growth rate during the forecast period, owing to rise in geriatric population.

On the basis of end user, the  hospitals segment accounted for the largest share in the global bone densitometer market, as it delivers well-organized, documented, retrieved, and logistical pathological procedures. However, clinics segment shows fastest market growth due to rise in number of bone disorders, which, in turn, increases the use of bone densitometer, thus fueling the market growth.

Region wise, North America accounted for a majority of the global bone sensitometer market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of bone fractures, presence of key players, increase in healthcare expenditure, and rise in government initiatives. However, Asia-Pacific is anticipated to witness notable growth owing to rise in incidences of injuries, surge in demand for healthcare services from geriatric population, and increase in healthcare investments.

Key Findings Of The Study

• On the basis of application, central scan the  segment was the highest contributor to the market in 2020.
• On the basis of technology, dual energy x-ray absorption the  segment was the highest contributor to the market in 2020
• On the basis of end user, the hospitals segment was the highest contributor to the market in 2020.
• On the basis of region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest 5.3% CAGR during the forecast period.

North America dominated the bone densitometer market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of osteoporosis, presence of key players, development of the healthcare sector, and presence of various types of bone densitometer products. Asia-Pacific is anticipated to witness lucrative growth owing to increase in number of road accidents and improvement in healthcare infrastructure.