NEW YORK, June 22, 2021 /PRNewswire/ -- The global bone mineral densitometry (BMD) market was valued at US$ 310.6 Mn in 2020, and is expected to exhibit a CAGR of around 3.5% over the forecast period (2021 - 2031).
Rise in prevalence of osteoporosis in the aged population and women aged above 50 has led to a surge in demand for bone mineral densitometry. Rising awareness about osteoporosis and efforts by various foundations are increasing awareness among the women population is leading to increased demand for bone densitometers globally.
Increasing number of spinal and hip fractures requiring bone mineral density scanning to avoid re-fractures is leading to higher installation of bone mineral densitometers in healthcare settings. Osteoporosis remains highly underdiagnosed and undertreated in South East Asia and many European countries.
There has been an increase in healthcare expenditure as well as reimbursements policies among developing nations, which is creating higher demand for bone densitometers. New product launches, acquisitions, and collaborations by key players are also expected to aid market expansion.
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Key Takeaways from Market Study
- Axial bone densitometers hold over 68% value share, globally, as they are used for the detection of bone density in central sites, including the vertebral column, ribcage, and pelvic region.
- Dual X-ray absorptiometry (DXA) is preferred due to higher number of bone density detections at central skeletal sites as compared to peripheral.
- In terms of end user, hospitals contribute maximum share in the market due to higher footfall of patients as compared to other end-user facilities.
- North America remains dominant in the global market for bone mineral densitometers, and will continue to hold strong revenue share of more than 51% over the forecast period.
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"BMD is witnessing growth in developed as well as emerging economies due to high prevalence of osteoporosis and osteoporotic fracture-related cases. Advancements in DXA technologies for higher precision and accuracy will lead a path toward improved diagnostic approaches to understand bone pathologies and preventing recurrent fractures," says an analyst of Persistence Market Research.
Acquisitions and Collaborations - Strategy by Key Players
Key manufacturers of bone mineral densitometers are collaborating with domestic vendors to expand their channel partnerships and increase their regional and global presence.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the bone mineral densitometry market in its latest study, presenting historical demand assessment of 2016 - 2020 and projections for 2021 - 2031.
The research study is based on the product (axial bone densitometry and peripheral bone densitometry), technology (dual-energy X-ray absorptiometry (DXA), peripheral dual energy X-ray absorptiometry (pDXA), quantitative ultrasound (QUS), and others), and end user (hospitals, orthopaedic clinics, and diagnostic centers), across seven key regions of the world (North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa).
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Browse End-to-end Market: Healthcare
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