Increasing geriatric population and increasing medical tourism for orthopedic treatment in certain regions such as Asia Pacific are the major factors expected to fuel growth of the bone densitometers market over the forecast period.
Regional segmentation of the Bone Densitometers Market by Coherent Market Insights comprises North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America is estimated to be the fastest growing region in the global bone densitometers market. This is mainly due to relatively better healthcare infrastructure, providing good medical facilities and treatment. Major players are focusing on introduction of novel technologies to cater to large patient base of osteoporosis. For instance, Hitachi Aloka introduced EggQus, a compact and portable ultrasound bone densitometry system in 2015. Also, in May 2015, Lone Oak Medical Technologies, LLC received authorization from Health Canada for its product accudxa2, a device designed for treatment and diagnosis of bone-related disorders. Asia Pacific market is expected to witness the highest growth rate over the forecast period, owing to improving healthcare facilities in countries in the region. For instance, in 2013, private health expenditure as % of GDP was 66.9% and 44.0% for India and China respectively according to the World Data Bank. Moreover, regional players are providing low cost products, which in turn, increases its accessibility for middle income group. Asia Pacific region is expected to attract medical tourists for orthopedic treatment, especially in emerging economies in the region such as India. For instance, according to Directorate-General of Commercial Intelligence and Statistics of India, in 2015, Indian hospitals had 460,000 international patients for various treatments.
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Bone densitometer is a medical device that measures bone density and monitors the mineral content of the bone. Bone density test determines decrease in bone density, risks of possible bone fractures, risk of osteoporosis, and monitors effective treatment.
Bone densitometer consists detectors, phantoms, X-ray tubes, and power supplies. Central devices and peripheral devices are used to test bone density at different parts of the body. Central device examines density of spinal and hip bones; however, peripheral devices test bone density in wrists, fingers or heel, among other peripheral bones. Osteoporosis causes weakening and thinning of bones, which in turn, leads to potential bone injuries. Therefore, bone densitometers can be used for early detection.
Rising prevalence of osteoporosis in geriatric population is expected to fuel growth of the bone densitometers market
According to International Osteoporosis Foundation, over 8.9 million fractures are caused due to osteoporosis, annually. Furthermore, around 200 million postmenopausal women suffer from osteoporosis, globally. According to Centers for Disease Control and Prevention (CDC), in 2016, around 25% women aged 65 and above were suffering from osteoporosis of the femur neck or lumbar spine and needed treatment, in turn fueling growth of the bone densitometers market.
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According to Osteoporosis Canada, osteoporosis causes 70–90% of 30,000 hip fractures annually. Moreover, in 2012, treatment of osteoporosis was valued at around US$ 3.9 billion in Canada. Moreover, factors such as sedentary lifestyle, smoking, drinking, and unhealthy dietary habits may lead to osteoporosis. This in turn, increases demand for bone densitometers to diagnose disease, fuelling growth of the market.
Key players operating in the global bone densitometers market
Key players operating in the global bone densitometers market include Hologic, Inc., GE Healthcare, Echolight, DMS Imaging, Swissray, Medonica Co. Ltd., Medilink, Lone Oak Medical Technologies LLC, Hitachi Ltd., and BMTech. In 2016, Hologic Inc., announced the results of a survey conducted on osteoporosis, to raise awareness of this condition and promote efficient risk assessment.
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