According to the latest report published by Credence Research, Inc. “Bone Densitometers Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global Bone Densitometers market was valued at US$ 889.5 Mn in 2016, and is expected to reach US$ 1,187.0 Mn by 2025, expanding at a CAGR of 3.2% from 2017 to 2025.
Browse the full report Bone Densitometers Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 at http://www.credenceresearch.com/report/bone-densitometers-market
Growth in geriatric population and increase in incidence of orthopedic disorders such as osteoporosis, osteoarthritis, Paget’s diseases and others have a high impact towards driving the growth of bone densitometers market. Growth in screening initiatives taken by government and non-government bodies to ultimately contain treatment and management costs for bone disorders is additionally leading to growth in demand for diagnostic devices like bone densitometers. Increase in awareness about prevention and management of orthopedic disorders and corresponding urge for swift diagnosis is opening further avenues in this market. Conversely, limited reimbursement coverage for bone density tests in developing and underdeveloped economies, and sustained preference for refurbished devices are however holding back the growth of bone densitometers market in select regions.
In terms of available technologies, the global bone densitometers market is categorized into axial and peripheral bone densitometry and further into their constituent sub-types. Among such available technologies, peripheral bone densitometry occupies the larger market share and will continue its dominance through the forecast period. Larger number of constituent technologies and better outcomes are the factors contributing to the dominance of this segment.
Increasing number of fractures and corresponding hospitalization has made hospitals and specialty clinics the largest usage area for bone densitometers. The same factor also contributes to the fastest market growth of this segment among others. In addition, growing research and development initiatives in order to develop the best treatment, treatment regimen and modules for orthopedic disorders has created lucrative penetration opportunity for bone densitometer manufacturers in research and academia.
Geographically, Asia Pacific is the fastest progressing regional market for bone densitometers. Emerging economies such as China, India, and others offer significant opportunities for market penetration. Furthermore, growing scope for medical tourism in countries such as Philippines, India and others offer further growth opportunities in Asia Pacific market. North America and Western Europe together occupy the largest revenue share for bone densitometers on the collective ground of existence of developed healthcare infrastructure, and greater patient awareness. In terms of market competition, the global bone densitometers market is highly consolidated with a selected companies occupying greater market share. The threat of new entrants in this market is also relatively low.