The bone densitometers market is projected to reach USD 311 million by 2024 from USD 247 million in 2019, growing at a CAGR of 4.7%.
The growth of the bone densitometers market is majorly driven by the increasing prevalence of osteoporosis and the rising geriatric population. However, factors such as the high cost of bone densitometers and low awareness are expected to hinder market growth. l
By type, the dual-energy X-ray absorptiometry (DXA) scanners segment is expected to dominate the bone densitometers market
Based on type, the bone densitometers market is segmented into dual-energy X-ray scanners and peripheral bone densitometers. The DXA scanners segment accounted for the largest share of the bone densitometers market in 2018. The large share of this segment can mainly be attributed to their advantages over peripheral bone densitometers, which hold a lesser share of the market.
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By application, the osteoporosis & osteopenia segment commanded the largest share of the bone densitometers market in 2018
Based on application, the bone densitometers market is segmented into osteoporosis & osteopenia diagnosis, cystic fibrosis diagnosis, chronic kidney disease diagnosis, body composition measurement, and rheumatoid arthritis diagnosis. The osteoporosis & osteopenia diagnosis segment accounted for the largest share of the bone densitometers market in 2018.
The Asia Pacific is expected to be the fastest-growing segment in the market in 2019
The Asia Pacific is estimated to show the highest growth in the peripheral bone densitometers market, due to the significant prevalence of bone-related diseases in this population segment, increasing healthcare expenditure in APAC countries, and growing public awareness. Moreover, increasing localized product manufacturing and the focus of global product manufacturers on expanding their presence in APAC countries are aiding market growth.
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GE Healthcare (US), Hologic, Inc. (US), OSI Systems, Inc. (US), Diagnostic Medical Systems Group (France), Swissray Global Healthcare Holding, Ltd. (Taiwan), BeamMed, Ltd. (Israel), Echolight S.P.A (Italy), Scanflex Healthcare AB (Sweden), Medonica Co., Ltd. (South Korea), and Eurotec Systems S.r.l (Italy).