According to market research report, "Bone Densitometer Market by Type (DEXA, Peripheral [Radiography, Quantitative Absorptiometer]), Application (Osteopenia & Osteoporosis, Cystic Fibrosis, CKD, Rheumatoid Arthritis), End User (Hospital, Diagnostic Centres) - Global Forecast to 2024" 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.
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.
The osteoporosis & osteopenia diagnosis segment is projected to grow at the highest CAGR during the forecast period. This can be attributed to the growing geriatric population and the subsequent increase in the prevalence of osteoporosis, the increasing risk of osteoporosis in menopausal women, and the growing global incidence of fragility fractures.
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The majority of bone density scans are performed in hospitals owing to the higher preference of patients for hospital-based treatment monitoring for diseases such as cystic fibrosis, chronic kidney diseases, and osteoporosis.
Asian countries (particularly China and India) are expected to offer significant growth opportunities for market players in the forecast period, primarily due to the rising geriatric population, increasing incidence of osteoporosis, increasing healthcare expenditure, and the growing number of hospitals and clinics.
The key players in the global bone densitometers market are 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).