Global Bone Densitometer Systems Market Highlights over 2022 – 2031
The global bone densitometer systems market is estimated to grow at a CAGR of ~3.5% over the forecast period, i.e., 2022 – 2031. Bone densitometer systems are advanced form of x-rays, used to measure bone mineral density or bone loss. The growth of the market can be attributed to the increasing prevalence of osteoporosis, especially amongst the older population. Osteoporosis causes tissue loss, due to which, bones become brittle and fragile. According to the U.S. National Library of Medicine, more than 200 million people are suffering from osteoporosis, globally. Along with this, the increasing health awareness amongst the population, and need for early diagnosis are anticipated to propel the market growth.
In addition to this, the constantly growing global geriatric population is forecasted to positively influence the market growth. According to the data by the World Bank, 9.321% of the population is aged above 65 years, as of 2020.
The market is segmented by type into axial bone, peripheral bone, and others, out of which, the axial bone segment is anticipated to hold the notable share in the global bone densitometer systems market over the forecast period on account of high precision, easy handling, and higher safety of usage of axial bone densitometer. Moreover, medical practitioners prefer to axially test the bone density for diagnosis of osteoporosis, which is estimated to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Bone Densitometer Systems Market Regional Synopsis
On the basis of geographical analysis, the global bone densitometer systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of rising geriatric population, combined with the increasing healthcare expenditure, and the growing number of hospitals and clinics in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing prevalence of osteoporosis amongst the population, especially amongst the female population. According to the data by the U.S Centre of Diseases Control and Prevention (CDC), 18.8% of the women above 50 years of age have osteoporosis of the femur neck or lumbar spine.
The global bone densitometer systems market is further classified on the basis of region as follows:
Our in-depth analysis of the global bone densitometer systems market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The increasing prevalence of osteoporosis is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~3.5% over the forecast period, i.e., 2022 – 2031.
The major players in the market are Medonica Co., Ltd., Scanflex Healthcare AB, BeamMed Ltd., Swissray Global Healthcare Holding Ltd., Diagnostic Medical Systems Group, OSI Systems, Inc., Hologic, Inc., GE Healthcare, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, technology, end-user, and by region.
The hospital segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
High cost of bone densitometer is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the increasing prevalence of osteoporosis in the region.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization