Bone Densitometer Devices Market Poised to Register 3.5%. CAGR through 2026
Added: (Tue Dec 25 2018)
Bone densitometers are devices used for non-invasive measurement of bone mineral density in order to determine an individual’s bone health. This device has an essential role in the evaluation of patients at risk of osteoporosis and fracture. There are two types of bone densitometer devices available in the market viz. Axial Bone Densitometer and Peripheral Bone Densitometer. Several methods are available to measure bone density, but currently the most accurate and widely used technique is DXA (Dual Energy X-ray Absorptiometry).
Market Value and Forecast
Global Bone Densitometer Devices market revenues are projected to expand at a CAGR of 3.5 % during the forecast period 2016-2026 and reach a value of US$ 390.6 Mn by the end of 2026.
Market Dynamics
The primary factors fuelling demand for Bone Densitometer Devices are increasing prevalence of osteoporosis, improving life expectancy of people, rising geriatric population, and development of advanced bone densitometer devices. However, primary factors hampering the growth of bone densitometer devices market are adoption of refurbished devices and limitation of DXA technology.
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Market Segmentation by Product Type
Based on product type, the global bone densitometer devices market has been segmented into axial bone densitometer devices and peripheral bone densitometer devices. The axial bone densitometer devices segment is estimated to account for more than 60% value share of the market by 2016 end, which is expected to increase further by 2026 end.
Market Segmentation by Technology
Based on technology, the global bone densitometer devices market has been segmented into DXA, pDXA, QUS and others. DXA segment is estimated to account for 63.6% value share of the market by 2016 end, owing to its more accurate analysis.
Market Segmentation, by End User
Based on end user segmentation, the global bone densitometer devices market is segmented into hospitals, orthopaedic clinics and diagnostic centres. The hospital segment is estimated to account for 64.5% value share of the market by 2016 end, which is expected to increase further by 2026 end.
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Key Regions
The global bone densitometer devices market has been segmented into seven major regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA). North America dominates the market value share for bone densitometer devices due to high prevalence of osteoporosis and favourable reimbursement scenario. Western Europe market is expected to account for the second largest market value share owing to increasing medical tourism and awareness campaign by NGO.
Key Players
Key competitors covered in terms of Bone Densitometer Devices market GE Healthcare Lmt., Hologic, Inc., Beammed, Ltd., Osteosys Co. Ltd., Diagnostic Medical System SA, Swissray International Inc., Osteometer, Meditech Inc., Medonica Co. Lmt., Osteometer Meditech, B. M. Tech Worldwide, Lone Oak Medical Tech. and Demetech AB.
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Submitted by:Vikas Bahurupi