Market Size of Bone Densitometer Systems Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 3.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Bone Densitometer Systems Market Analysis
The bone densitometer systems market is expected to register a CAGR of 3.5% over the forecast period.
The COVID-19 pandemic impacted the bone densitometer systems market significantly. The COVID-19 illness and treatment adversely affected the bone health of surviving patients, affecting the market's growth pace. According to an article published by the National Library of Medicine in April 2022, post-acute sequela of COVID-19 can cause secondary osteoporosis. To help with the early detection and treatment of osteoporosis problems, the bone health status of patients who survived COVID-19 hospitalization was extensively examined at subsequent visits. With the increased number of COVID-19 patients, the early detection of bone density and bone examination increased, leading to increased demand for bone densitometers.
The rising prevalence of osteoarthritis and vitamin deficiencies, increased adoption of bone densitometers, and technological advancements are key factors fueling the bone densitometer systems market growth. For instance, according to an article published by the Arthritis Community Research and Evaluation Unit (ACREU), in 2021 around 15% of Canadians aged 20 years and above had osteoarthritis. The report further stated that more than 4 million Canadians, or about one in every seven adults, have osteoarthritis. The high burden of such disorders is expected to boost the demand for bone densitometer systems for accurate diagnosis, ultimately driving market growth. According to a study published by Climacteric, in January 2022, osteoporosis causes more than 8.9 million fractures annually, resulting in an osteoporotic fracture every 3 seconds, globally. It is estimated that osteoporosis affects 200 million women worldwide.
Additionally, the adoption of bone densitometers by various healthcare providers also contributes to the growth of the market. For instance, in June 2021, the Riverside Clinic in London, part of the Healthshare Group, chose Fujifilm's DXA Solution for the community trial to diagnose osteoporosis.
Factors such as rising prevalence of osteoarthritis and vitamin deficiencies, increased adoption of bone densitometers and technological advancements are driving the market growth for the bone densitometer systems market. However, risks associated with bone densitometers and the high cost of it may restrain the market growth.
Bone Densitometer Systems Industry Segmentation
As per the scope of the report, a bone densitometer system, commonly known as a DXA machine, is a device that measures bone loss and the quantity of calcium and other minerals in a bone segment using a low dosage of ionizing radiation. The Bone Densitometer Systems Market is segmented by technology (Axial Bone Densitometry (Dual Energy X-ray Absorptiometry (DEXA) and Quantitative Computed Tomography (QCT)) and peripheral bone densitometry (Single Energy X-Ray Absorptiometry (SEXA), Dual Energy X-Ray Absorptiometry (pDEXA), Radiographic Absorptiometry (RA), Quantitative Ultrasound (QUS), and Peripheral Quantitative Computed Tomography (pQCT))), end-user (Hospitals, Specialty Clinics, Other End Users), and geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Bone Densitometer Systems Market Size Summary
The bone densitometer systems market is poised for moderate growth, driven by factors such as the rising prevalence of osteoarthritis and vitamin deficiencies, increased adoption of these systems, and ongoing technological advancements. The COVID-19 pandemic has notably influenced market dynamics, as the illness and its treatment have adversely affected bone health, leading to a heightened demand for early detection and treatment of osteoporosis. The widespread use of dual-energy X-ray absorptiometry (DEXA) for assessing bone density, due to its precision and safety, is a significant contributor to market expansion. Technological innovations, including digital detectors and computer-assisted densitometers, have further enhanced the appeal of bone densitometers, facilitating their adoption across various healthcare settings.
Regionally, North America holds a substantial share of the market, supported by advanced healthcare technologies and a growing elderly population. The increasing burden of chronic diseases, such as cancer and osteoarthritis, necessitates accurate diagnostic tools, thereby driving demand for bone densitometer systems. The competitive landscape is characterized by the presence of both global and regional players, with companies like GE Healthcare, Hologic Inc., and Swissray International, Inc. leading the market. Collaborative efforts and strategic partnerships, such as those between Echolight Medical and Aurora Spine Corporation, are expected to further propel market growth. Despite challenges like high costs and associated risks, the market is anticipated to grow steadily over the forecast period.
Bone Densitometer Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Surge in Incidence of Osteoporosis and Vitamin D Deficiency
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1.2.2 Increase in Adoption of Bone Densitometers
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1.2.3 Technological Advancements in the Field of Bone Densitometry
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1.3 Market Restraints
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1.3.1 Risks Associated with Bone Densitometers
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1.3.2 High Cost of Bone Densitometers
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Technology
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2.1.1 Axial Bone Densitometry
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2.1.1.1 Dual energy X-ray absorptiometry (DEXA)
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2.1.1.2 Quantitative computed tomography (QCT)
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2.1.2 Peripheral Bone Densitometry
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2.1.2.1 Single Energy X-Ray Absorptiometry (SEXA)
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2.1.2.2 Dual Energy X-Ray Absorptiometry (pDEXA)
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2.1.2.3 Radiographic Absorptiometry (RA)
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2.1.2.4 Quantitative Ultrasound (QUS)
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2.1.2.5 Peripheral Quantitative Computed Tomography (pQCT)
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2.2 By End User
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2.2.1 Hospitals
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2.2.2 Specialty Clinics
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2.2.3 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Bone Densitometer Systems Market Size FAQs
What is the current Bone Densitometer Systems Market size?
The Bone Densitometer Systems Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Bone Densitometer Systems Market?
Hologic Inc., MEDILINK, Swissray International, Inc., DMS Imaging and GE Healthcare are the major companies operating in the Bone Densitometer Systems Market.