FELTON, California, August 24, 2017 /PRNewswire/ --
The global bone densitometers market size was worth USD 893.7 million in the year 2016 and is predicted to grow with a CAGR of 3.9% during the forecast period. The significant increase in prevalence of osteoporosis on global level is the major driving force. This has led to an upsurge in demand for efficient assessment with the use of bone densitometers. In addition, the increase in geriatric population base, which is more susceptible to metabolic bone diseases, is expected to provide lucrative growth opportunities.
The rise in osteoporosis incidence in menopausal women is anticipated to be a key growth contributor. According to International osteoporosis foundation, over 200 million females are suffering from this disease globally with 1/10th belonging to 60 years, 2/5th in 80 years' group, 1/5th in 70 years and 2/3rd in 90 years' age group. Moreover, every 1 out of 3 women above the age of 50 years were seen to suffer from fragility fractures once in their lifetime.
According to a report published by National Institutes of Health Osteoporosis and Related Bone Diseases, various lifestyle-related factors including smoking, alcohol abuse and sedentary lifestyle are major contributors for development of osteoporosis in males. The above mentioned factors provide a clinical urgency to reduce this disease burden and hence fuel the rate of adoption of these assessment devices to suffice early diagnosis.
Additionally, advent of technologically advanced products such as ultrasound & computer assisted densitometers and integrated digital detectors cater to the needs of technicians and physicians by reducing measurement time and facilitating easy operations. The use of ultrasound based densitometers has increased to wide range of fields including endocrinology, gynecology and various others.
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The largest share in the technology segment was held by axial bone densitometers with over 60.0% in 2016 as a consequence of consistent adoption rate of these devices. The fulfillment of various requirements and needs of clinicians by usage of these devices can be attributed to the increasing penetration rate of the technology. These majorly include the central dual energy x-ray absorptiometry, technology based tools which are crucial for accurate diagnostic results.
The major share was held by hospitals in 2016 owing to the large volume of patients and frequent readmission. Moreover, sophisticated infrastructure facilitating high efficiency of diagnostic procedures with bone assessment devices is expected to drive the hospital segment.
The market was dominated by North American region in 2016 owing to the rising osteoporosis burden of the region. Various strategic initiatives by prominent market players for improvement of R&D capabilities and maintaining high medical standards are anticipated to drive the regional demand.
The intensive competition in the industry is expected to rise throughout the forecast period as a consequence of increasing number of strategic initiatives such as new product development, R&D investments, acquisitions and mergers by prominent market players to maintain their competitive edge over the other companies.
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Bone Densitometers Technology Outlook (Revenue, USD Million, 2014 - 2025)
• Axial Bone Densitometry
• Dual Energy X-Ray Absorptiometry (DEXA)
• Quantitative Computed Tomography (QCT)
• Peripheral Bone Densitometry
• Single Energy X-Ray Absorptiometry (SEXA)
• Dual Energy X-Ray Absorptiometry (PDEXA)
• Radiographic Absorptiometry (RA)
• Quantitative Ultrasound (QUS)
• Peripheral Quantitative Computed Tomography (pQCT)
Bone Densitometers End-Use Outlook (Revenue, USD Million, 2014 - 2025)
Bone Densitometers Regional Outlook (Revenue, USD Million, 2014 - 2025)
• South Africa
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