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Bone Densitometer Market Worth $311 million by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 18, 2019 /PRNewswire/ -- According to the new market research report "Bone Densitometer Market by Type (DEXA, Peripheral [Radiography, Quantitative Absorptiometer]), Application (Osteopenia & Osteoporosis, Cystic Fibrosis, CKD, Rheumatoid Arthritis), End User (Hospital, Diagnostic Centres) - Global Forecast to 2024", published by MarketsandMarkets™, the Bone Densitometer Market is projected to reach USD 311 million by 2024 from USD 247 million in 2019, growing at a CAGR of 4.7%.
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The growth of the Bone Densitometer Market is majorly driven by the increasing prevalence of osteoporosis and the rising geriatric population. However, factors such as the high cost of bone densitometers and low awareness are expected to hinder market growth.
By type, the dual-energy X-ray absorptiometry (DXA) scanners segment is expected to dominate the Bone Densitometer Market
Based on type, the Bone Densitometer Market is segmented into dual-energy X-ray scanners and peripheral bone densitometers. The DXA scanners segment accounted for the largest share of the Bone Densitometer Market in 2018. The large share of this segment can mainly be attributed to their advantages over peripheral bone densitometers, which hold a lesser share of the market.
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By application, the osteoporosis & osteopenia segment commanded the largest share of the Bone Densitometer Market in 2018
Based on application, the Bone Densitometer Market is segmented into osteoporosis & osteopenia diagnosis, cystic fibrosis diagnosis, chronic kidney disease diagnosis, body composition measurement, and rheumatoid arthritis diagnosis. The osteoporosis & osteopenia diagnosis segment accounted for the largest share of the Bone Densitometer Market in 2018. The large share of this application segment can be attributed to the large geriatric population suffering from osteoporosis, the increasing risk of osteoporosis in menopausal women, and the growing global incidence of fragility fractures.
By end user, the hospitals and specialty clinics segment is estimated to show the highest growth
Based on end user, the Bone Densitometer Market is segmented into hospitals & specialty clinics, diagnostic & imaging centers, and other end users. In 2018, hospitals accounted for the major share of the Bone Densitometer Market, mainly due to their high purchasing capacity; as a result, the adoption of high-cost scanners is higher in hospitals.
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The Asia Pacific is expected to be the fastest-growing segment in the market in 2019
The Asia Pacific is estimated to show the highest growth in the Bone Densitometer Market, due to the significant prevalence of bone-related diseases in this population segment, increasing healthcare expenditure in APAC countries, and growing public awareness. Moreover, increasing localized product manufacturing and the focus of global product manufacturers on expanding their presence in APAC countries are aiding market growth.
The key players in the global Bone Densitometer Market are GE Healthcare (US), Hologic, Inc. (US), OSI Systems, Inc. (US), Diagnostic Medical Systems Group (France), Swissray Global Healthcare Holding, Ltd. (Taiwan), BeamMed, Ltd. (Israel), Echolight S.P.A (Italy), Scanflex Healthcare AB (Sweden), Medonica Co., Ltd. (South Korea), and Eurotec Systems S.r.l (Italy).
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