Noida, India, Aug. 17, 2021 (GLOBE NEWSWIRE) -- A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global bone densitometer market was worth USD 259.3 million in the year 2020. The market is estimated to grow at a CAGR of 4.8%, earning revenue of around USD 356.2 million by the end of 2027. The growth of the global bone densitometer market is attributable to the increasing geriatric and obese population. Moreover, the increasing population of post-menopausal women is also favoring the market growth. Menopause, defined as the natural termination of menstrual cycles in women between the ages of 45 and 55, can raise the risk of osteoporosis, a condition in which bones become fragile and susceptible to fractures. Demographic trends are resulting in a higher prevalence of bone-related disorders, which has led to an increased demand for bone densitometers. Additionally, emerging economies are also adopting advanced medical technologies, thereby influencing the growth of the global bone densitometer market. However, the high cost of bone densitometer equipment and limited awareness surrounding such medical technology may restrict the market growth.
The growing demand for bone densitometers among sports athletes favoring the growth of the global bone densitometer market
Bone densitometers are leveraged for determining bone mineral density. The equipment also helps estimate the chances of potential fractures. Bone densitometers are therefore increasingly used to assess the bone density and body composition of athletes. The fan and pencil DXA scans, along with research studies are being undertaken for examining the fat mass, bone mineral content, and fat-free soft tissues of athletes. Since athletes have a greater bone density, they are less vulnerable and prone to fractures in the future.Using the bone densitometer for measuring athletes' body composition has proven pivotal in understanding their performance before a match. If the athlete appears to be less fit for the game, the chances of losing at the games also increase substantially. Such tests have thus become a key factor in propelling the demand for bone densitometers across the globe.Consequently, it is contributing to the growth of the global bone densitometer market.
Rising geriatric population rates across the world are driving the demand of the global bone densitometer market
The rising geriatric population is the most influential factor contributing to the increasing demand for bone densitometers. According to one estimate from the United Nations, there are more than 727 million people globally aged over 65 years. Since the fraction of women who live longer than men outweigh the fraction of men, the UN report states that the most vulnerable group, i.e., the rising geriatric population and rising older female population, are pushing for the growth of the global bone densitometer market. Additionally, geriatric populations are expected to increase in size by 1.2 billion over the next three decades, subsequently increasing the need for bone densitometers.The bone densitometry may help such people understand the requirement for bone density to avoid future concerns regarding fractures.
The hospitals’ segment occupiesthe largest market share in the global bone densitometer market
Based on end-users, the global bone densitometer market can be categorized into hospitals & specialty clinics, diagnostic & imaging centers, and others. Among these segments, the hospitals’ segment accumulated the largest market share and are also estimated to grow at a high CAGR during the forecast period. Several factors are contributing to the growth of bone densitometers across hospitals, including the availability of appropriate infrastructure to perform more accurate measurements of bone density.Since a good percentage of patients prefer hospitals over clinics for a diagnosis or treatment, it helps the hospitals determine the pattern of the disease based on the samples collected. In addition to this, the soaring healthcare expenditure globally is another factor driving market growth as it indicates a growing emphasis on advanced equipment.
Osteoporosis & osteopenia diagnos is accounted for the largest share in the application segment of the global bone densitometer market
Based on the applications, the global bone densitometer market is bifurcated into osteoporosis & osteopenia diagnosis, chronic kidney disease diagnosis, cystic fibrosis diagnosis, rheumatoid arthritis diagnosis, and body composition measurement. The osteoporosis & osteopenia diagnosis registered the highest share in the global bone densitometer market in 2020. According to the statistic released by the Osteoporosis Foundation, currently, there are 200 million people in the world who have osteoporosis. The trend is accompanied by decreasing birth rates and improved healthcare, both of which are positively affecting the aging of individuals.This is causing geriatricpopulations to increase in developing economies due to longer life expectancies.Considering these advanced and updated healthcare facilities becoming widely available to all in the developing and developed economies, this segment is seeing substantial growth and is predicted to continue to grow in the years to follow.
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Global Bone Densitometer Market: Regional Insights
Geographically, the global bone densitometer market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Among these regions, North America garnered the highest share in the global densitometer market in 2020. However, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. An astonishing research study conducted throughout the United States found that in over 380,000 fractures recorded across female participants, 10% of them fractured again within a year.In contrast to this, 18% of the females received another fracture within two years. In the United States, females hold the majority. Moreover, the country is experiencing a higher median age; thus osteoporosis is expected to increase dramatically in the coming years, thereby driving the growth of the bone densitometer market in the region.
As a result of the declining birth rate in the Asia-Pacific region (especially in Japan and China), accompanied by rising access to healthcare, older adults are becoming more prevalent in the region as well. It is thus positively influencing the demand for bone densitometers inthe Asia Pacific region, thereby driving the growth of the global bone densitometer market.
Global Bone Densitometer Market – COVID-19 Impact Analysis
The COVID-19 pandemic started its rippling effects in March 2020 globally. The pandemic was declared a medical emergency in May 2020. The pandemic brought healthcare systems to their knees in many countries, while others had to witness a paradigm shift in their healthcare facilities. However, COVID-19 has had an entirely negative impact on the global bone densitometer market. The pandemic resulted in a decreased number of DXA examinations as COVID-19 patients required more intensive care comparedto other patients. As a result, many important medical procedures were halted for the time being in order to reduce the spread of the virus. This resulted in fewer diagnoses of diseases affecting bone density.In addition to this, outpatient activities were mostly put on hold in order to protect the health of healthcare professionals who were readily available 24/7 for attending COVID-19 patients. However, the rising vaccination rollouts are anticipated to revive the global bone densitometer market as the infection rates start to drop. The global densitometer market is, therefore, expected to grow in the coming years as patients who have beenplaced on hold may now undergo diagnosis and treatmentdue to higher vaccination rates.
The leading market players in the global bone densitometer market are Quest Diagnostics, GE Healthcare, CompuMed, Inc., Hologic Inc., OsteometerMediTech Inc., BeamMed Ltd., DMS Imaging, Swissray International, Inc., Lone Oak Medical Technologies LLC, Xingaoyi Co., Ltd., Swissray Global Healthcare Holding, Ltd., Eurotec Medical Systems S.R.L., YozmaBmtech Co., Ltd., L’acnL’accessorioNucleare S.R.L, Nanoomtech Co., Ltd., Xianyang Kanrota Digital Ultrasound System, Co., Ltd., Hologic, Inc., Shimadzu Corporation, Siemens Healthineers AG, OSI Systems, Inc., and other prominent players. The global bone densitometer market is fragmented, with numerous players engaged in the development of bone densitometers.This makes it difficult for the major players to maintain their market share in the global bone densitometer market. To keep up with the cut-throat competition, the companies are focusing on incorporating product innovation and advancement through R&D programs for coming up with new products.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global bone densitometer market.It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global bone densitometer marketand industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the global bone densitometer market.
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