NEWARK, Del, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The Bone Densitometer Devices Market, with a projected 4.2% CAGR from 2023 to 2033, the global market for bone densitometer devices, is positioned for impressive growth in the changing healthcare landscape. According to our lead consultant for the healthcare industry at Future Market Insights, the market valuation is set to rise from US$ 347.7 million in 2023 to US$ 525.0 million by 2033.
This tendency is being driven by numerous variables that combine to highlight the crucial role that bone health plays. The incidence of osteoporosis and other bone conditions drives the demand for sophisticated diagnostic technologies.
The Bone Densitometer Devices Market has witnessed significant growth in recent years, driven by the rising prevalence of osteoporosis and bone-related disorders, particularly among the aging population. These devices play a crucial role in assessing bone health by measuring bone mineral density, aiding in the early detection and monitoring of conditions like osteoporosis. The market encompasses various types of bone densitometer devices, including dual-energy X-ray absorptiometry (DXA), quantitative ultrasound (QUS), and peripheral dual-energy X-ray absorptiometry (pDXA) machines.
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Advancements in technology have led to the development of more accurate and efficient bone densitometer devices, enhancing diagnostic accuracy and patient comfort. The demand for these devices is also fueled by the increasing awareness of bone health and preventive healthcare measures. Healthcare providers are focusing on integrating bone density testing into routine check-ups, contributing to the market's expansion.
Key Takeaways:
- North America leads the bone densitometer devices market with a strong 51.8% share captured in 2022, demonstrating the market's importance to the region. The region's leading position is a result of its strong healthcare system and technological breakthroughs.
- Europe occupied a substantial 15.8% stake of the bone densitometer devices industry, which is a result of its developed healthcare infrastructure and gradual use of medical technology. Its notable presence is a result of the region's diversified economies, which include economic giants like Germany and the United Kingdom.
- With a 38.1% of the market share captured in 2022, the United States stands out as a significant competitor and demonstrates its significant effect on the bone densitometer devices market. The United States holds a big market share thanks to its sophisticated healthcare system and significant investments in medical research.
- A significant share of the market is made up of Japan, Australia, China, and India, highlighting the growth potential in the Asian continent. These nations show a growing interest in bone densitometer devices, potentially driven by ageing populations and rising healthcare awareness, with projected market shares ranging from 2.5% to 4.8% from 2023 to 2033.
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Competitive Landscape:
The rivalry for bone densitometer devices is anticipated to continue fierce and is set to worsen as a result of a confluence of compelling factors. These include the rising prevalence of osteoporosis and related bone diseases, which is creating an urgent demand for cutting-edge diagnostic equipment. Concurrently, as people actively seek more sophisticated evaluation techniques, a growing awareness of bone health enhances this competitive environment. The favourable shift in reimbursement paradigms fuels these fires and makes bone health assessments more widely available. The ongoing development of bone densitometry technologies adds another degree of complexity and keeps market leaders on their toes. New competitors frequently enter this vibrant field, bringing new life to the competitive atmosphere.
1. GE Healthcare
2. Hologic, Inc.
3. OSI Systems, Inc.
4. Diagnostic Medical Systems Group
5. Swissray Global Healthcare Holding, Ltd.
6. BeamMed, Ltd.
7. Echolight S.P.A
8. Scanflex Healthcare AB
9. Medonica Co., Ltd.
10. Eurotec Systems S.r.l
11. AMPall Co., Ltd.
12. L’acn L’accessorio Nucleare S.R.L
13. Shenzhen XRAY Electric Co., Ltd.
14. YOZMA BMTech Co., Ltd.
15. Nanoomtech Co., Ltd.
16. Osteosys Corporation
17. FURUNO Electric Co., Ltd.
18. XinGaoYi Co., Ltd.
19. Anjue Medical Equipment
20. Trivitron Healthcare
Key Developments:
Strategic Alliances:
The market has seen how these partnerships have accelerated technical advancement. The partnership between GE Healthcare and IBA Molecular Imaging in 2022 is noteworthy because it will result in a ground-breaking bone densitometer that uses molecular imaging. This offers greater precision while upending established notions. Another example of foresight is Hologic's partnership with Siemens Healthineers in 2023, which uses artificial intelligence (AI) to automate bone density scan analysis, improving efficiency and accuracy.
Product evolution:
Innovations in product design have reshaped the market. The QDR-4500+ from Osteometer Meditech, announced in 2022, offers improved accuracy and a small footprint.
In 2023, BeamMed aims to release the XR-500+, a portable gadget that revolutionizes portability by integrating DXA technology. This paradigm change brings bone densitometry into patients' homes from clinical settings.
Bone Densitometer Devices Market Segmentation
By Product:
- Peripheral Bone Densitometer
- Axial Bone Densitometer
By Technology:
- Dual Energy X-Ray Absorptiometry (DXA)
- Peripheral Dual Energy X-Ray
- Absorptiometry (pDXA)
- Quantitative Ultrasound (QUS)
- Others
By End-User:
- Hospitals
- Orthopedic Clinics
- Diagnostic Centers
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
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