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Bone densitometers are widely used screening devices to detect breast cancer driven bone loss or osteoporosis. Bone densitometry is a vital tool in assessing bone health and fracture risk associated with conditions like breast cancer treatments, menopause or ageing. Bone densitometers offer dual energy X-ray absorptiometry (DXA) technology to precisely measure bone density and quality at targeted sites like spine, hip and forearm. The devices provide fast and painless whole body scans to identify low bone density issues before fractures occur. Unlike other imaging modalities, bone densitometry exposes patients to minimal radiation. Its ability to detect even 1-2% annual bone loss enables timely interventions with lifestyle changes or medications to prevent devastating fractures.
The global Bone Densitometers Market is estimated to be valued at US$ 313.05 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Recent technological advances have improved precision and reduced scanning time of bone densitometers. New generation devices offer high resolution imaging, make less demanding patient positioning and allow scanning of full body instead of targeted sites. This has expanded applicability of bone density screening beyond osteoporosis to conditions like spinal disorders or bone metastases. Additionally, development of portable units suitable for point-of-care and patient home use could aid early detection in rural areas. Strength analysis feature in latest densitometers provide quantitative parameters of bone quality beyond density. Such analytical tools assist clinicians in selecting optimal therapies. With increasing prevalence of osteoporosis and cancers impacting bones, the bone densitometers market is forecast to witness steady growth.
Porter’s Analysis
Threat of new entrants: Low barriers to entry as it does not require huge capital investments to enter the market. However, established brands have strong brand image and distribution networks.
Bargaining power of buyers: Moderate as there are many established manufacturers providing bone densitometers. However, innovative product offerings increase switching costs for buyers.
Bargaining power of suppliers: Low as raw materials required are commodity products and there are many suppliers. However, regulations ensure quality standards.
Threat of new substitutes: Low as there are limited substitutes for bone density assessment. However, new imaging modalities can be a potential threat.
Competitive rivalry: High as the major players compete on the basis of product innovation, quality and service. Pricing pressures exist due to large number of regional and global players.
Key Takeaways
The global Bone Densitometers Market is estimated to be valued at US$ 313.05 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
The global Bone Densitometers market is expected to witness high growth. Regional analysis comprises North America dominates the market currently due to growing geriatric population and increasing awareness regarding osteoporosis. Asia Pacific is expected to grow at fastest CAGR due to rising healthcare expenditure.Key players operating in the Bone Densitometers market are GE Healthcare, Hologic, Inc., Swissray Global Healthcare Holding, and BeamMed Ltd. GE Healthcare and Hologic hold major market share. Increasing R&D investments by these players to develop advanced bone densitometers is expected to fuel market growth during forecast period.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
