The bone densitometer systems market will show rapid growth due to the surge in the incidence of osteoporosis and vitamin D deficiency, an increase in the adoption of bone densitometers, and technological advancements in the field of bone densitometry.
Osteoporosis is being considered a serious public health concern. It is estimated that over 200 million people worldwide suffer from this disease and approximately 30% of all postmenopausal women have osteoporosis in the United States and in Europe. Aging of the populations worldwide is found to be responsible for a major increase in the incidence of osteoporosis in postmenopausal women. Therefore the increase in the prevalence of osteoporosis globally has fueled the demand for bone densitometers. In addition, there are other various beneficial factors offered by these devices such as simplicity in usage, relatively short duration, noninvasive nature, and no requirement for anesthesia that make them a reliable procedure for measuring bone loss.
Furthermore, consistent technological advancements over the years such as the advent of integrated digital detectors and computer-assisted & ultrasound densitometers are found to exhibit high ease of operation as well as reduced measurement time. Hence all these technological advancemnets leads to the growth of the market.
Key Market Trends
Axial Bone Densitometry is Expected to Dominate the Bone Densitometer Systems Market During the Forecast Period
Axial bone densitometry has been accounted for the largest share in the market owing to the high adoption of densitometers based on this technology. The increasing adoption rate can be attributed to the fulfillment of different requirements of clinicians by axial bone densitometers as there is a high prevalence of osteoporosis patients.
In axial bone densitometry, dual-energy X-ray absorptiometry (DEXA) is the most widely used technique for determining the bone density in the body. DEXA is an enhanced form of X-ray technology that is being used to measure the amount of bone loss. This device may be used for both central and peripheral bone mineral density (BMD) scan. It is widely used due to its high precision, easy handling, and safety of usage for both adults and children.
North America is Leading the Bone Densitometer Systems Market
North America and Europe are the mature markets for bone densitometers while the Asian region is expected to witness the highest growth in the forecast period.
North America has been accounted for the largest share of the market, due to the various collaborative efforts undertaken by various companies in this region to improve their R&D capabilities and maintain high medical standards that are expected to propel the demand across this region. The majority of the share is also due to the increasing incidence of osteoporosis & other bone-related problems, growth in the geriatric population, rise in awareness towards osteoporosis, and an increase in medical tourism for the treatment of bone-related problems.
There has been a presence of a few numbers of companies that are significantly contributing to the market growth. Product innovation and ongoing R&D activities to develop advanced technologies has helped in boosting the growth of the market. The competition is fierce due to the consolidated nature of the market with the top three players reporting to occupy major share in the market. The key players in the market are adopting various strategic moves to sustain the intense competition.
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