Bone Densitometers Market Estimated to Witness High Growth Owing to Increasing Prevalence of Osteoporosis

Bone densitometers are medical devices used to measure bone density and diagnose osteoporosis. These devices utilize dual-energy X-ray absorptiometry (DXA) and quantitative computed tomography (QCT) technologies to scans the bones and measure bone mineral density. DXA scan is considered as the gold standard for measuring bone density as it is quick, exposes patients to very low dose of radiation, and is highly precise. Bone densitometers find wide applications in hospitals, specialty clinics, and diagnostic centers to screen for osteoporosis and monitor fracture risk in people who have low bone mass or have already experienced bone fractures due to osteoporosis.

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 Dynamics: One of the major drivers behind the growth of the bone densitometers is the increasing prevalence of osteoporosis globally. As per data by the International Osteoporosis Foundation (IOF), around 200 million people are affected by osteoporosis worldwide. Additionally, one in three women aged 50 years and one in five men will experience osteoporotic fractures in their lifetime. Osteoporosis leads to fragility fractures, disability, and morbidity. Thus, growing geriatric population, increasing awareness about osteoporosis, and heavy burden of osteoporosis-related fractures are fueling the adoption of bone densitometers worldwide.

SWOT Analysis

Strength: Bone densitometers offer non-invasive and painless scans to measure bone mineral density. This helps diagnose osteoporosis and assess fracture risk. Bone densitometers also provide accurate and reproducible results and take only a few minutes per scan.

Weakness: Bone densitometers require specialized technicians to operate and interpret the scans. The equipment also needs periodic calibration and maintenance which increases costs. Availability of bone densitometers may also be limited in certain locations.

Opportunity: With an aging global population, the risk of osteoporosis is increasing worldwide. Greater awareness among healthcare providers and patients regarding benefits of bone density screening can help identify more at-risk cases early. Introduction of portable and low-cost bone densitometers expands access in remote areas.

Threats: Economic slowdowns may impact healthcare budgets and purchasing decisions. Reimbursement policies also vary globally which could affect growth in some markets. Advancements in alternative technologies for assessing bone health pose competitive threats.

Key Takeaways

The global bone densitometers market is expected to witness high growth driven by the rising geriatric population which is more prone to osteoporosis. 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.

Regionally, North America currently dominates the market owing to supportive reimbursement policies and greater awareness levels regarding osteoporosis diagnosis. The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to increasing healthcare expenditures in 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 holds the leading market share owing to its broad portfolio of DXA and peripheral bone densitometry devices. Hologic focuses on innovative DXA systems while BeamMed primarily offers portable ultrasound bone densitometers. Swissray is a niche player specialized in orthopedic imaging solutions including bone mineral measurement devices.