ALBANY, New York, April 13, 2017 /PRNewswire/ --
According to a new research report by Transparency Market Research (TMR), the global Bone Densitometers Market is highly consolidated in nature and is predominantly led by GE Healthcare and Hologic Inc. These enterprises, together, accounted for nearly 70% of the overall market in 2015. Currently, the leading companies are focusing aggressively on innovation and technological advancements to strengthen their position in the global market. The competition among these players is significantly high and is anticipated to increase further over the forthcoming years, notes the market study.
As per the research report, the global Bone Densitometers Market offered an opportunity of US$0.84 bn in 2015. Progressing at a CAGR of 3.10% during the period from 2016 to 2024, the market is likely to rise to US$1.11 bn by the end of the forecast period. Hospitals surfaced as the prime end user of bone densitometers. Analysts expect this trend to remain so over the next few years, thanks to the advent of hospitals as a prominent hub for bone densitometry diagnostics and devices.
Axial Bone Densitometry to Remain Most Preferred Technology in Market
The research report further presents an exhaustive study of the global bone densitometers market on the basis of various parameters. Based on the technology utilized in these densitometers, axial bone densitometry and peripheral bone densitometry have been considered as the main segments of this market. In 2015, the axial bone densitometry segment led the global market with a share of more than 65%. Researchers predict the scenario to remain same over the forecast period, thanks to the increasing prevalence of osteoporosis, especially in postmenopausal women.
In terms of geography, the report has segmented the worldwide market for bone densitometers into North America, Asia Pacific, the Middle East and Africa, Latin America, and Europe. With a share of nearly 44%, North America acquired the leading position in the global market in 2015. The regional market is expected to continue on the top over the forthcoming years, thanks to the presence of favorable reimbursement policies for the diagnosis of osteoporosis, states the research report.
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Increasing Need for Accurate Diagnosis of Bone-related Disorders to Fuel Demand
"The global market for bone densitometers will witness impressive growth in the coming years," predicts a TMR analyst. The rising pool of patients suffering from arthritis, vitamin D deficiency, and various other bone-related disorders is likely to fuel the need for their accurate diagnosis, which will reflect positively on the demand for bone densitometers over the forecast period. The increase in the geriatric population and the surge in the prevalence of osteoporosis in postmenopausal females are also projected to add to the growth of this market substantially in the near future.
Moreover, the growing awareness among consumers about the advantages of early diagnosis of diseases will boost this market significantly in the forthcoming years. However, the limited access to diagnostic equipment and tools in remote areas may hinder the market's progress to some extent over the period forecast, reports the study.
The study presented here is based on a report by Transparency Market Research (TMR), titled "Bone Densitometers Market (Technology - Axial Bone Densitometry (Dual Energy X-Ray Absorptiometry and Quantitative Computed Tomography) and Peripheral Bone Densitometry (Single Energy X-Ray Absorptiometry, Peripheral Dual Energy X-Ray Absorptiometry, Radiographic Absorptiometry, Quantitative Ultrasound, and Peripheral Quantitative Computed Tomography); End User - Hospitals, Diagnostic Centers, and Specialty Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024."
The global bone densitometers market is segmented as follows:
- Axial Bone Densitometry
- Dual Energy X-Ray Absorptiometry (DEXA)
- Quantitative Computed Tomography (QCT)
- Peripheral Bone Densitometry
- Peripheral Dual energy X-ray Absorptiometry (pDEXA)
- Single Energy X-Ray Absorptiometry (SEXA)
- Radiographic Absorptiometry (RA)
- Quantitative Ultrasound (QUS)
- Peripheral Quantitative Computed Tomography (pQCT)
By End Users
- Specialty clinics
- Diagnostics centers
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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