Bone densitometers, also known as dual-energy X-ray absorptiometry (DXA) scanners, are medical devices that help measure bone mineral density and determine bone strength. Their painless scanning allows for precise measurement of back and hip bone mineral content to detect osteoporosis and fracture risks. The rising global prevalence of osteoporosis due to an aging population has increased the demand for bone densitometry tests. Bone densitometers provide early diagnosis and better management of osteoporosis to prevent fractures and improve patient care.
The Global bone densitometers market is estimated to be valued at US$ 313.05 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the bone densitometers market are GE Healthcare, Hologic, Inc., Swissray Global Healthcare Holding, and BeamMed Ltd. The increasing incidence of osteoporosis, expanding applications of DXA, and heavy demand from the Asia Pacific region present significant opportunities for market players. Technologically advanced digital radiography with improved imaging quality, faster scanning times, and wireless connectivity capabilities are gaining popularity in bone densitometers.
Market drivers:
The rapidly growing geriatric population prone to age-related bone disorders is a major driver for the bone densitometers market. Osteoporosis impacts an estimated 200 million women worldwide, and the number is projected to rise drastically in aging societies. As bone mineral density testing helps assess fracture risk and treatment effectiveness, the ability of densitometers to diagnose and manage osteoporosis better is fueling market growth. The growing awareness about osteoporosis and benefits of early detection and management through bone density scans also propels the market’s expansion.
Current Challenges in Bone Densitometers Market
The bone densitometers market is facing challenges due to lack of awareness among people about osteoporosis screening. Osteoporosis is often termed as a ‘silent disease’ as there are no noticeable symptoms until a fracture occurs. Many people also hesitate to get their bone density tests done due to lack of knowledge about the procedure involved and fears associated with radiation exposure during the test. High cost of advanced bone densitometers also limits their adoption in developing regions. However, increasing government initiatives aimed at spreading awareness about osteoporosis are helping people understand the importance of early detection.
SWOT Analysis
Strength: Bone densitometers provide accurate and reliable bone mineral density readings to diagnose osteoporosis. Dual energy X-ray absorptiometry (DEXA) is considered the gold standard for bone density measurement.
Weakness: High cost of advanced bone densitometers limits their use. Bone density tests also involve radiation exposure raising safety concerns.
Opportunity: Rising incidence of osteoporosis worldwide driven by aging population presents large market potential. Growing awareness programs help increase screening rates.
Threats: Competition from alternative technologies for bone health assessment can hamper sales. Regulations limiting reimbursable uses of devices pose challenges.
Geographical Regions with High Market Concentration
North America dominates the global bone densitometers market in terms of value, holding over 40% share. This can be largely attributed to rising incidence of osteoporosis and hip fractures as well as growing awareness about early detection. According to the International Osteoporosis Foundation, about 54 million people in the US were affected by osteoporosis or low bone mass in 2018. Availability of favorable reimbursements for bone density tests also boosts diagnostic rates.
Fastest Growing Regional Market
The Asia Pacific bone densitometers market is poised to expand at the fastest pace during the forecast period. This is due to aging population, improving access to healthcare, increasing disposable incomes, and growing awareness about osteoporosis. In addition, rising incidence of secondary osteoporosis from chronic diseases is supporting diagnostic rates. China, Japan and India represent highly lucrative markets supported by presence of large patient pools.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
