The bone density test market revenue is likely to grow and expand and hence, reach a good market value during the ongoing forecast period of 2017-2023. The industry experts and business chiefs suggest that the bone density test market is likely to expand at a global CAGR rate of 7.2% by the end of the forecast period in 2023.
The Bone density test market is inclusive of the tests that help in determining the density of bones and chances of the bone being broken. A central dual-energy X-ray absorptiometry (DXA) test is recommended by the experts for the test of the bone density of the hip and spine of various patients. These tests can be conducted for a series of reasons. Bone density test is used in the diagnosis of issues like osteoporosis, and osteopenia. Osteoporosis mostly occurs in the women population after menopause but may also be present in the male population. However, the condition is less common in adults and children.
COVID 19 Analysis
Since the presence of the Covid pandemic, there has been a lot of changes in the manner individuals carried on with their lives, in the way the corporate world capacities, and in the way, the business and market units capacity and oblige the requirements of the separate crowd. The bone density test market is none other and is confronting the evil impacts brought about by the pandemic, also. The interest is declined as the medical care specialist organizations and clinical staff like specialists and attendants are being redirected to treat individuals who have been determined to have the Covid sickness. Additionally, the pandemic has pushed individuals to achieve significant changes n their method of essential living and adjust their inclinations towards better and agreeable means. The worldwide legislatures are forcing severe limitations like the inconvenience of both long-lasting and transitory lockdown so the energy pace of the pandemic descends and life can be gone to predictability indeed.
The lockdown burden and severe useful limitations are functioning as the pace of inspiration is diminishing and the experts are returning to serve their insight in their subject matter. Likewise, the competitive and prominent players of the market are expanding their interest in the innovative work offices to concoct items and administrations that will help in giving a superior goal to the rising requirements of the main interest group during the ongoing forecast period that will be ending in 2028.
The bone density test market trends show that there has been a rising prevalence of health concerns like osteoporosis, osteopenia, hyperthyroidism, along with an increasing demand for portable bone testing devices are likely to drive the bone density test market towards growth during the ongoing forecast period that will be ending in 2028. Also, the demand for diagnosis and treatment measures for osteoporosis, as a part of the market influences the market growth that has been predicted for the forecast period of 2021-2028. Additionally, the growing demand for technologically advanced devices drives the Bone Density Test Market growth during the forecast period.
However, the bone density test market analysis shows that the market is likely to witness the emergence of some restraints that might hamper the bone density test market from growing as per the predictions for the ongoing forecast period. The bone density test market is understanding that factors like the high cost of bone densitometers are likely to restraint the market from growing as per the predictions. Also, there is a low degree of awareness that is further, causing growth and expansion issues for the bone density test market.
Bone density test offers more of a high-level overview and in-depth details and specifications on more specific aspects of bone health of an individual alongside the ability to indicate current and potential health risks that are inclusive of osteoporosis, low bone mineral density, and hyperthyroidism. A stress fracture or other bone issue is often one of the major reasons that can result in impaired bone health and could affect bone density in the future. All these factors give a clear representation that a bone is not as strong as normal bone and further, it places that are at risk for stress fractures or other broken bones. Also, there have been ever-increasing population trends that are adopting the sedentary lifestyle and rising urbanization which are propelling the bone density market demand. Enhanced economic scenarios are fueling the bone density test market, thereby boosting the healthcare expenditures followed by facilitating rapid access to excellent healthcare amongst the global locations.
The bone density test market functions in the form of the following market segments during the ongoing forecast period in the global market premises:
Based on the Market Type
The bone density test market has been segmented based on the type and includes DXA Systems, Peripheral Bone Densitometers, Radiographic absorptiometry scanners, and others like Quantitative ultrasound scanners.
Based on the Market Application
The application segment of the bone density test market includes osteoporosis and osteopenia Diagnosis, Cystic Fibrosis Diagnosis, Body Composition Measurement, alongside Rheumatoid Arthritis Diagnosis.
Based on the End-User Industry
The bone density test market includes demand from Hospitals and Specialty Clinics, Diagnostic and Imaging Centers, amongst other End Users.
The market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period of 2017-2023. The Asian countries particularly China and India are projected to offer significant growth opportunities for the prominent players of the bone density test market. The main reason behind this is the rising geriatric population, increasing incidence of osteoporosis, increasing healthcare expenditure, alongside the growing number of hospitals and clinics.
The bone density test market share is rising because of the splendid performance of the following players of the market:
The bone density test market report discusses the possible market dynamics like the drivers and restraints that have both positives and negatives to the market amid the ongoing forecast period of 2017-2023. The report covers the impact of the coronavirus outbreak on the market followed by the developments of the industry for the forecast period.
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Indication, Device|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||General Electric Company (U.S.), Hologic Inc. (U.S), BeamMed Ltd. (Israel), Swissray (U.S.), Osteosys Corp (South Korea), DMS Imaging (France), Medonica Co. LLTb (South KOrea), Osteometer Meditech Inc. (U.S), and Lone Oak Medical Technologies, LLC (U.S.)|
|Key Market Opportunities||The demand for technologically advanced devices|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Bone density test market is projected to grow at approximately 7.2% CAGR during the assessment period (2017-2023).
Increasing prevalence of communicable diseases in rural areas and growing numbers of R&D activities, are the major tailwinds pushing the growth of the global bone density test market.
Strict regulatory rules and long approval time for the drugs are major growth impeders for the global bone density test market.
North America holds the largest share in the global bone density test market, followed by Europe and the Asia Pacific, respectively.
Hologic Inc. (U.S), General Electric Company (U.S.), BeamMed Ltd. (Israel), Osteosys Corp (South Korea), Swissray (U.S.), DMS Imaging (France), Osteometer Meditech Inc. (U.S), Medonica Co. LLTb (South Korea), and Lone Oak Medical Technologies, LLC (U.S.), are some of the top players operating in the global bone density test market.