Bone Densitometer – Industry Development and Growth Forecasts, 2030
The value of the bone densitometer market stood at USD 316.6 million in 2023, and this number is projected to reach USD 441.3 million by 2030, advancing at a CAGR of 4.7% during the projection period.
This can be mainly credited to the growing occurrence of kidney illnesses, the increasing count of people having Vitamin D deficit, the rising occurrence of knee osteoarthritis, and the rising consciousness about linked issues and their treatment.
In 2023, the axial bone densitometer category dominated the market with a share of 65%. This is mainly because it offers better accuracy, the count of osteoporotic patients is increasing, and central dual-energy X-ray absorptiometry is extensively utilized because of its ease of use and security for both adults and children.
On the basis of application, the osteoporosis & osteopenia diagnosis category grips the largest market share. This can be credited to the increasing cases of bone-linked problems and the growing awareness regarding these problems.
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Because of the lack of Vitamin D and other minerals, such as magnesium and calcium, people become weak and develop issues linked to bones. In menopausal women, the danger of osteopenia and osteoporosis is rising, which leads to high demand for bone densitometers.
Hospitals and diagnostic clinics are the biggest end users in this market. This is because of numerous reasons like the growing count of patients with bone-linked illnesses visiting hospitals, the quick acceptance of progressive and well-fortified healthcare systems, the rising healthcare spending, and the increasing accessibility and affordability of treatment and analysis of diverse therapeutic conditions.
Also, it has been projected that governments throughout the globe are deeply spending on public health and contributing to the improvements of healthcare facilities. Furthermore, a huge patient pool, the obtainability of trained specialists, and the financial abilities of hospitals direct them to produce high revenue in the industry.
The growing knowledge among people regarding the impacts of osteoporosis and its treatment is driving the development of the industry. Numerous government and private associations are concentrating on the rising understanding of osteopenia via numerous events and programs.
For example, the International Osteoporosis Foundation is an association devoted to health and knowledge linked to it. The organization offers data about the risk factors, treatments, and prevention substitutes to spread awareness regarding the disease among patients and physicians.
In terms of the bone densitometer market, North America holds the dominant position and will continue to do so for the next few years with a value of USD 0.17 billion by 2023. The presence of leading players, an extensive network of hospitals and healthcare establishments as well as the training of doctors are reasons for this.