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The global Bone Densitometers Market comprises devices that measure bone mineral density and help diagnose osteoporosis and other bone related disorders. Bone densitometers help in early detection of bone loss and assessment of fracture risks. They are non-invasive and painless procedures.
The global Bone Densitometers Market is estimated to be valued at US$ 313.05 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased Geriatric Population: The growing geriatric population is one of the major drivers of the bone densitometers market. Osteoporosis is highly prevalent in the aging population over 50 years of age. As life expectancy increases across the world, the risk of bone-related disorders is rising significantly. As per the estimates of the United Nations, the population aged 60 years and above will double from the current figures to around 2 billion people by the year 2050. This rising pool of elderly population prone to bone disorders and fractures is anticipated to drive the demand for bone density tests and bone densitometers over the forecast period.
SWOT Analysis
Strength: Bone densitometers have gained widespread acceptance and are considered the gold standard for measuring bone mineral density. They provide precise and accurate diagnosis of osteoporosis and fracture risk assessment.
Weakness: Bone densitometers are expensive equipment and require specialized technicians to operate. This limits their widespread accessibility especially in developing regions.
Opportunity: Growing geriatric population suffering from osteoporosis globally presents an opportunity for increased demand. Increasing awareness regarding risks of osteoporosis also drives the market.
Threats: Reimbursement issues and lack of coverage from insurance providers in certain regions negatively impacts market growth. Introduction of newer alternative diagnostic methods also poses competitive threats.
Key Takeaways
The global bone densitometers market is expected to witness high growth over the forecast period of 2023 to 2030. The global Bone Densitometers Market is estimated to be valued at US$ 313.05 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
The North American region currently dominates the market and is expected to maintain its leading position throughout the forecast period. This can be attributed to growing prevalence of osteoporosis and favorable reimbursement policies in the region. The Asia Pacific region is anticipated to be the fastest growing market for bone densitometers driven by expanding medical infrastructure and increasing healthcare expenditure in emerging countries like China and India.
Key players operating in the bone densitometers market are GE Healthcare, Hologic, Inc., Swissray Global Healthcare Holding, and BeamMed Ltd. GE Healthcare is a top player in the market with strong global footprint and diverse product portfolio. Hologic, Inc. also enjoys a significant market share due to its innovative product offerings. The key players are focusing on new product launches and strategic agreements to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
