The increasing number of bone density disorders especially among the geriatric population is projected to aid in the expansion of the bone densitometers market. A bone densitometer is utilized to unequivocally gauge the thickness and mineral substance present during the bones to analyze clinical conditions, for example, osteoporosis that might cause weak bones inclined to break.
Hospitals Segment Generating Highest Revenue Owing to Increasing Reliance and Better Facilities
As per the classification by end-user, the hospital segment gained the largest share with 60% earned in 2015. Factors attributing to the growth of this segment include their early existence and constant presence that increased its preference levels over the years. However, the increasing number of diagnostic centers, rise in disposable incomes of people that propelled people to opt for better diagnostic approaches, and the presence of well-established medical infrastructure are likely to help the diagnostic centers’ segment witness lucrative growth opportunities in the forecast period.
According to Transparency Market Research, the global bone densitometers market is projected to rise significantly at a CAGR of 3.10% and reach USD 1.11 billion by the end of 2024. The value of this market was USD0.84 billion and the forecast period is set between 2016 and 2024.
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Rising Cases of Osteoporosis to Propel Demand for Bone Densitometers
Bone densitometers are utilized to quantify the thickness of bones through an X-beam and are utilized in the recognition of illnesses such as osteoporosis or osteopenia. Low bone thickness is an indication of frail bones, and it is amazingly vital to treat such a condition to keep away from breaks or bone dislodgements. Lately, the occurrence of osteoporosis has ascended because of the changing ways of life and dietary patterns of the majority of people. This has given a catalyst to the development of the worldwide market for bone densitometers.
Despite the increasing popularity of bone densitometers that have flown in from a few territorial longitudes, the makers have neglected to take into account this interest over the previous decade. This has arisen as a significant barricade for the worldwide market for bone densitometers because a significant piece of income that might have been created is lost to languid assembling. In any case, the continuous advancements in the assembling norms of merchants are required to look good for the worldwide bone densitometers market.
Moreover, the improvements in the medical care framework of the relative multitude of key areas across the globe have likewise given a force to the development of the worldwide market for bone densitometers. The geriatric populace across the globe has been increasing at a solid rate, and this has assisted the interest for bone densitometers across the globe.
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The clinical business recognizes the requirement for understanding the life systems of the human body to interpret outsider and uncommon ailments. Besides, the human life structures likewise should be considered while concocting treatment lines for individuals of shifting age gatherings. Hereafter, the worldwide bone densitometers market is scheduled to extend at a heavenly speed in the occasions to follow.
Demographically, the global bone densitometers market was dominated by North America in 2015 with a share of almost 44%. This is accountable to the presence of well-established players on the one side and healthcare infrastructure with the latest innovation on the other. The advent of favorable reimbursement policies, coupled with the increasing number of osteoporosis cases is likely to help this region generate significant revenues in the coming years as well. Europe held the second position in the market but is likely to emerge dominant in the coming years on account of the rising development of novel medical technologies and increasing awareness among people about the benefits of bone disorders and their therapeutic approaches.
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