The global bone densitometer devices market value is estimated to surpass USD 347.7 million in 2023 and reach USD 525.0 million by 2033, expanding at a 4.2% CAGR from 2023 to 2033. Bone densitometer devices perform a non-invasive procedure to check the bone density and measure the strength of bones. It is required to diagnose bone-related diseases and also analyzes the risk of developing them.
According to the International Osteoporosis Foundation, the incidence of hip fractures in men is expected to increase by more than 300% and will increase by 240% in women by 2050. Hence, the high prevalence of osteoporosis and bone-related diseases such as osteopenia, osteomalacia, and osteoporotic fractures will drive the demand for bone assessment, boosting the bone densitometer devices market.
| Attribute | Details |
|---|---|
| Bone Densitometer Devices Market Value 2022 | USD 335.7 million |
| Estimated Market Value 2023 | USD 347.7 million |
| Projected Market Size 2033 | USD 525.0 million |
| CAGR 2023 to 2033 | 4.2% |
| Share of Top 5 Countries | 65.6% |
Additionally, improved reimbursement scenarios for the treatment of osteoporosis and developing healthcare infrastructure will also aid the growth of the market. Growing demand for the bone densitometer devices market is expected to drive the adoption rate of this technology, creating a conducive environment for orthopedic diagnostic device manufacturers.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
As per Future Market Insights (FMI), the sales of the bone densitometer devices market rose at a CAGR of 3.3% between 2018 and 2022. In 2023, the global bone densitometer devices market is expected to account for nearly 1% of the overall global orthopedic devices market accounting for around USD 42.2 billion.
The prevalence of knee osteoarthritis is one of the key factors fueling the growth in the bone densitometer devices market. As per the Lancet journal, the global incidence of knee osteoarthritis was 203 per 10,000 persons per year in the age criteria of 20 and above.
Moreover, there are approximately annual 86.7 million individuals with incident knee osteoarthritis (OA) worldwide in 2020. As the number of cases of knee OA increases, the demand for bone assessment devices is expected to surge.
According to The Lancet journal, the global incidence of knee osteoarthritis in people aged 20 and up was 203 per 10,000 per year. Furthermore, in 2020, there were roughly 86.7 million people globally with incident knee osteoarthritis. Hence, the rising prevalence of osteoarthritis will propel the growth in the bone densitometer devices market in the upcoming decade.
Further, a rise in favorable reimbursement policies by Medicare is expected to enhance the demand for bone densitometer devices, especially across the United States and India. Medicare provides coverage for the diagnosis of osteoporosis by bone densitometer, which is approved by the United States Food and Drug Administration (FDA). Medicare provides private health insurance plans for the treatment of osteoporosis, which is responsible for the growth of the bone densitometer devices market.
Besides this, key players are focusing on developing innovative product offerings such as low-dosage, patented narrow-fan beam technology. Hence, the growing need for excellent precision and accuracy, high-definition image quality, and faster scan for multiple clinical applications will boost the growth in the forthcoming decade. On the back of this, FMI estimated the global bone densitometer devices market to rise at a CAGR of 4.2% over the forecast period (2023 to 2033).
| Category | Product |
|---|---|
| Leading Segment | Axial |
| Market Share | 69.2 |
| Category | End User |
|---|---|
| Leading Segment | Hospitals |
| Market Share | 64.6% |
The tabular information shown reveals the complex structure of a market segmented into different groups, each of which has certain subcategories and their corresponding proportional representation. The 'Axial' subcategory has a notable presence in the 'Product' section, holding a dominant share of 69.2% by 2033. This statistic emphasises how common 'Axial' is among the products under examination.
Similar to this, the subcategory 'Hospitals' appears as the main player in the 'End User' segmentation, accounting for a sizeable amount of roughly 64.6% by 2033. This number emphasises the important significance hospitals play among end users. Together, these numbers shed light on how subcategories are distributed within their segments, offering insightful information on the complex makeup of the larger market landscape.
Principal Consultant
Rising Initiatives to Raise Osteoporosis Awareness in Developing Economies to Boost Sales
The awareness regarding osteoporosis is less among people in both developed and developing countries. Hence, several NGOs are working to increase awareness about osteoporosis and the diagnosis of osteoporosis by bone densitometer devices. Public Health Foundation Enterprises (PHFE) is working to build awareness about osteoporosis in the USA, whereas Osteoporosis Foundation India (OFI) is also working in India for the same cause.
This attempt of NGOs about creating awareness regarding osteoporosis is expected to increase the demand for bone densitometer devices in the market. Over the last few decades, the development of bone densitometer devices with advanced features has increased. The bone densitometer devices can evaluate a strong relationship between bone density at virtually any skeletal site and the subsequent risk for fractures of the spine, hip, and forearm.
These advanced features of bone densitometer devices can raise the demand for the devices in the market. Thus, an increased offering by the leading players in the market for bone densitometer devices will create lucrative opportunities and propel the growth of this market.
Bone densitometer devices are costly, owing to which they are less affordable in low-economic countries. In low-economic countries, the preference for refurbished bone densitometer devices in hospitals and clinics is rising. This is expected to limit the growth in the market.
The cost of refurbished bone densitometer devices is 40% to 50% less than the new devices. This might decrease the revenue generated from these devices and hamper the growth of the bone densitometer devices market.
Dual-energy X-ray absorptiometry (DXA) is the most widely used technology in bone densitometer devices. However, this technology has some limitations such as it cannot distinguish between cortical and trabecular bones.
Furthermore, it cannot evaluate microstructural characteristics such as size, shape, and orientation of bone. This limitation of DXA technology of bone densitometer devices can restrain the growth of the bone densitometer devices market. These factors are expected to hamper revenue growth of the bone densitometer devices market over the forecast period.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Over 7 out of 10 Bone Densitometer Devices Sales Come from the United States Market
As per the study, the United States is expected to be the largest and most profitable market, holding a market share of around 73.2% in 2022. The United States bone densitometer devices market is expected to register a CAGR of 4.9% during the forecast period owing to a large patient population.
As per the CDC, 2020, osteoarthritis affects more than 32.5 million persons in the United States. According to Osteoarthritis Action Alliance, 2022, women account for 62% of patients with osteoarthritis. In terms of revenue contribution, the United States bone densitometer devices market share is anticipated to remain dominant during the forecast period due to the presence of vast growth opportunities for bone densitometer device manufacturers.
Favorable Initiatives to Raise Awareness of Bone Diseases to Spur Growth
FMI estimates, Germany dominated the Europe bone densitometer devices market and accounted for around 22.9% in 2022. This is owing to the immediate availability of DXA scans and favorable reimbursement policies in the country making it a lucrative market for bone densitometer devices. Moreover, various awareness campaigns by NGOs on osteoporosis in this region are expected to drive the bone densitometer devices market in the upcoming years.
China is projected to be the most attractive market in the East Asia bone densitometer devices market and held a market share of around 32.4% in 2022. Growth is predicted to rise on the back of increased device usage among patients over 50 and among female patients nationwide. Demand in China's bone densitometer devices market is estimated to expand at a CAGR of 5.2% over the forecast period (2023 to 2033).
The axial bone densitometer device segment accounted for the dominant share of 69.0% in 2022. The segment is predicted to expand at a CAGR of 4.2% as the axial bone densitometer system is more accurate than the peripheral bone densitometer. Additionally, dual-energy X-ray absorptiometry (DXA) and quantitative computed tomography (QCT) are used in axial bone densitometers and are widely used for the diagnosis of the spinal or proximal femur.
Dual Energy X-Ray Absorptiometry Holds Over 3/5th of Global Revenue
Dual-energy X-ray absorptiometry (DXA) accounted for the leading share of around 64.2% in 2022. This is due to its advanced features such as improved resolution, image quality, and faster scanning. It is used only in the axial bone densitometer to measure the bone density of the spine and hip and is also used for the diagnosis of osteoporosis.
Further, in terms of end users, the hospital segment accounted for a 64.6% value share in 2022. Growth in the segment is due to a growing preference for hospital-based treatment for disease monitoring of cystic fibrosis, chronic renal disease, and osteoporosis, the majority of bone density scans are performed in hospitals.
Key players in the market are focused on enhancing product features to strengthen their position in the bone densitometer devices market, and also to expand their footprint in emerging markets. The key strategy adopted by manufacturers to lead in the market is the acquisition & distribution agreement of other companies to expand their business.
For instance
Recent Developments Observed by FMI
| Attribute | Details |
|---|---|
| Estimated Market Value 2023 | USD 347.7 million |
| Projected Market Size 2033 | USD 525.0 million |
| CAGR 2023 to 2033 | 4.2% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2011 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, Germany, United Kingdom, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, Turkey, South Africa, and GCC Countries |
| Key Segments Covered | Product, Technology, End User, and Region |
| Key Companies Profiled | GE Healthcare; Hologic, Inc.; OSI Systems, Inc.; Diagnostic Medical Systems Group; Swissray Global Healthcare Holding, Ltd.; BeamMed, Ltd.; Echolight S.P.A; Scanflex Healthcare AB; Medonica Co., Ltd.; Eurotec Systems S.r.l; AMPall Co., Ltd.; L’acn L’accessorio Nucleare S.R.L; Shenzhen XRAY Electric Co., Ltd.; YOZMA BMTech Co., Ltd.; Nanoomtech Co., Ltd.; Osteosys Corporation; FURUNO Electric Co., Ltd.; XinGaoYi Co., Ltd.; Anjue Medical Equipment; Trivitron Healthcare |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
The market is valued at USD 335.7 million in 2023.
GE Healthcare, OSI Systems Inc., and BeamMed Ltd are key market players.
Axial is likely to remain preferred through 2033.
Players opt for advanced technologies, collaborations, and new launches.
The United States, Germany, and China dominate the global market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Peripheral Bone Densitometer 5.2. Axial Bone Densitometer 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 6.1. Dual Energy X-Ray Absorptiometry (DXA) 6.2. Peripheral Dual Energy X-Ray Absorptiometry 6.3. Quantitative Ultrasound 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User 7.1. Hospitals 7.2. Orthopedic Clinics 7.3. Diagnostic Centers 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. GE Healthcare 18.2. Hologic, Inc. 18.3. OSI Systems, Inc. 18.4. Diagnostic Medical Systems Group 18.5. Swissray Global Healthcare Holding, Ltd. 18.6. BeamMed, Ltd. 18.7. Echolight S.P.A 18.8. Scanflex Healthcare AB 18.9. Medonica Co., Ltd. 18.10. Eurotec Systems S.r.l 18.11. AMPall Co., Ltd. 18.12. L’acn L’accessorio Nucleare S.R.L 18.13. Shenzhen XRAY Electric Co., Ltd. 18.14. YOZMA BMTech Co., Ltd. 18.15. Nanoomtech Co., Ltd. 18.16. Osteosys Corporation 18.17. FURUNO Electric Co., Ltd. 18.18. XinGaoYi Co., Ltd. 18.19. Anjue Medical Equipment 18.20. Trivitron Healthcare 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Healthcare Insights
View Reports
Bone Densitometer Devices Market
