(Health-NewsWire.Net, May 22, 2020 ) Increasing prevalence of osteoporosis and the rising geriatric population and increasing healthcare expenditure, and the growing number of hospitals and clinics are driving the growth of bone densitometer market.
What the Market Looks Like?
Predicted to grow at a CAGR of 4.7% during the forecast period, the global bone densitometer market is estimated to reach USD 311 million by the end of 2024. The Asia Pacific is estimated to show the highest growth in the bone densitometers market, due to the significant prevalence of bone-related diseases in this population segment, increasing healthcare expenditure in APAC countries, and growing public awareness. Moreover, increasing localized product manufacturing and the focus of global product manufacturers on expanding their presence in APAC countries are aiding market growth.
On the basis of type, the market is segmented into dual-energy X-ray bone absorptiometry (DXA) scanners and peripheral bone densitometers. The DXA scanners segment accounted for the largest share of the market in 2018. This segment is also projected to register a higher CAGR during the forecast period. This is attributed to the advantages of DXA scanners over peripheral bone densitometers. Moreover, results obtained from DXA scanners can be interpreted using WHO scores for greater accuracy, which accounts for their high use.
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What Drives the Market?
The growth of the global market for Peripheral Bone Densitometers is primarily influenced by the following factors:
+ Rising Incidence of Osteoporosis
+ Rising Geriatric Population
+ Rising Prevalence of Kidney Disease
However, factors such as the high cost of bone densitometers and low awareness are expected to hinder the growth of this market.
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Mr. Aashish Mehra