X-Ray Bone Densitometers Market
Number of pages: 100 | Report Format: PDF | Published date: February 22, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 121 million |
|
Revenue Forecast in 2030 |
US$ 172 million |
|
CAGR |
4% |
|
Base Year For Estimation |
2021 |
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Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Application, End-user, and, Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global X-ray bone densitometers market was valued at US$ 121 million in 2021 and is expected to register a revenue CAGR of 4% to reach US$ 172 million in 2030.
X-Ray Bone Densitometers Market Fundamentals
X-ray bone densitometers are medical imaging devices that use X-rays to measure the density of bones. They diagnose and monitor conditions, such as osteoporosis, characterized by decreased bone density and an increased risk of fractures. The test is quick, painless, and non-invasive. X-ray bone densitometry provides important information about bone strength, which can help doctors develop an appropriate treatment plan to prevent or manage bone loss. During the test, a low-dose X-ray produces images of the bones, which are then analyzed to determine their mineral content. This information indicates bone strength and can help doctors assess the risk of fractures. The test is typically performed on the spine, hip, and forearm, as these are the bones most commonly affected by osteoporosis. The test results are expressed as a T-score, which compares the patient’s bone density to that of a healthy adult of the same gender. A T-score of -1.0 or above is considered normal, while a score of -2.5 or below indicates osteoporosis.
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X-Ray Bone Densitometers Market Dynamics
The growing aged population is leading to a rise in the number of individuals with osteoporosis and related bone diseases, increasing the demand for X-ray bone densitometers. The increased public awareness of the importance of maintaining good bone health is contributing to the revenue growth of the global X-ray bone densitometers market. The growing incorporation of advanced technologies to improve the capabilities of X-ray bone densitometry equipment, including faster scanning times, enhanced image quality, and more comprehensive analysis of bone density, are contributing to the revenue growth of the X-ray bone densitometers market.
Rising demand for early diagnosis and treatment of bone diseases, favorable reimbursement policies, and funding for bone densitometry tests by government bodies worldwide contribute to the X-ray bone densitometer market revenue growth. Another key trend in the market is the increasing adoption of dual-energy X-ray absorptiometry (DXA) technology, which is considered the gold standard for bone density testing.
However, the high cost of X-ray bone densitometers can be a major hindrance to the revenue growth of the X-ray bone densitometer market. The manufacturing and sales of X-ray bone densitometers are subject to stringent regulatory requirements, which can add to the equipment cost and limit the entry of new players into the market.
X-Ray Bone Densitometers Market Ecosystem
The global X-ray bone densitometers market has been analyzed from three perspectives: application, end-user, and region.
X-Ray Bone Densitometers Market by Application
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Based on the application, the global X-ray bone densitometers market is segmented into osteoporosis and osteopenia diagnosis, body composition measurement diagnosis, cystic fibrosis diagnosis, chronic kidney disease diagnosis, and rheumatoid arthritis diagnosis.
The osteoporosis and osteopenia diagnosis segment dominated the X-ray bone densitometers market in 2021. Osteoporosis and osteopenia are common conditions, especially in older adults. The demand for accurate and non-invasive diagnostic tools, such as X-ray bone densitometers, has increased in the past few years owing to the rising patient population. According to the International Osteoporosis Foundation, in people over 50, one in three women and one in five men are likely to experience an osteoporotic fracture. X-ray bone densitometers are considered the gold standard for diagnosing osteoporosis and osteopenia due to their ease of use, accuracy, and non-invasive nature, thus propelling segment revenue growth. X-ray bone densitometry is widely accepted by healthcare providers and is considered a critical factor for evaluating and managing osteoporosis and osteopenia, which further fuel segmental growth. Increasing awareness about the importance of early diagnosis and management of osteoporosis and osteopenia has also driven the demand for X-ray bone densitometry.
X-Ray Bone Densitometers Market by End-user
Based on end-user, the global X-ray bone densitometers market is segmented into hospitals & specialty clinics, diagnostic & imaging centers, and others.
The hospitals & specialty clinics accounted for the largest revenue share of the X-ray bone densitometers market in 2021. Hospitals and specialty clinics are well-equipped with advanced medical technology, including X-ray bone densitometers, to diagnose and manage various conditions. Hospitals and specialty clinics experience a high volume of patients for bone-related conditions, boosting segmental revenue growth. The presence of trained personnel in hospitals who can operate X-ray bone densitometers and perform accurate diagnoses also propels the segment revenue growth. Favorable reimbursement policies for X-ray bone densitometry performed in hospitals and specialty clinics further support the revenue growth of this segment.
X-Ray Bone Densitometers Market by Region
Geographically, the global X-ray bone densitometers market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global X-ray bone densitometers market in 2021, followed by Europe. The Asia Pacific market is anticipated to register growth at the fastest revenue CAGR during the forecast period. The rising prevalence of osteoporosis and other bone-related disorders in North America boosts the demand for X-ray bone densitometry as a diagnostic tool. The aging population is a major driver for the revenue growth of the X-ray bone densitometer market, as osteoporosis is a common condition among older individuals. Government bodies in North America have been investing in healthcare infrastructure and promoting the usage of X-ray bone densitometers, further driving the market’s development. Moreover, the rising number of awareness campaigns and educational programs aimed at spreading awareness about osteoporosis and the importance of early detection also contribute to the X-ray bone densitometer market in North America.
X-Ray Bone Densitometers Market Competitive Landscape
The prominent players operating in the global X-ray bone densitometers market are:
X-Ray Bone Densitometers Market Strategic Developments
Geographically, North America accounts for the largest market revenue share, followed by Europe; and Asia Pacific is the fastest-growing regional market for X-ray bone densitometers.
X-ray bone densitometers are medical imaging devices that use X-rays to measure the density of bones. They are used to diagnose and monitor conditions, such as osteoporosis, characterized by decreased bone density and an increased risk of fractures.
GE Healthcare, Hologic, Inc., DMS Imaging (DMS group), BeamMed Ltd., and Diagnostic Medical Systems Group are among the top market players.
The osteoporosis and osteopenia diagnosis methods segment accounted for the largest revenue share of the market in 2021.
The X-ray bone densitometers market is estimated to be valued at US$ 172 million by 2030.
*Insights on financial performance are subject to the availability of information in the public domain