Surge in incidence of osteoporosis and vitamin D deficiency, rise in geriatric population, technological advancements in the field of bone densitometry, and favorable reimbursement scenario in the developed economies drive the growth of the global bone densitometers market
PORTLAND, Ore., March 17, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Bone Densitometer Market by Technology (Dual Energy X-Ray Absorptiometry (DXA), Ultrasound, and Other Technologies), Application (Central Scan and Peripheral Scan), and End User (Hospitals, Clinics, and Other Medical Facilities): Global Opportunity Analysis and Industry Forecast, 2021--2030." According to the report, the global bone densitometers industry was estimated at $38.39 billion in 2020, and is anticipated to hit $57.42 billion by 2030, registering a CAGR of 4.1% from 2021 to 2030.
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Drivers, restraints, and opportunities-
Surge in incidence of osteoporosis and vitamin D deficiency, rise in geriatric population, technological advancements in the field of bone densitometry, and favorable reimbursement scenario in the developed economies drive the growth of the global bone densitometers market. On the other hand, several risks associated with bone densitometers impede the growth to some extent. However, increase in awareness and surge in adoption of bone densitometers are expected to create lucrative opportunities in the industry.
Covid-19 scenario-
- Due to the ongoing stay-at-home drift, people happened to suffer more from chronic bone health concerns. Therefore, the development of systems for bone mineral testing has augmented the use of bone densitometer products, thereby impacting the bone densitometer market positively.
- This trend is going to continue post pandemic as well.
The Dual Energy X-Ray Absorptiometry (Dxa Or Dexa) segment to maintain the lion's share-
By technology, the Dual Energy X-Ray Absorptiometry (Dxa Or Dexa) segment accounted for the highest market share in 2020, generating nearly half of the global bone densitometers market. The same segment is also anticipated to cite the fastest CAGR of 4.3% from 2021 to 2030. This is due to increase in prevalence of orthopedic disease across the world.
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The hospitals segment to lead the trail-
By end-user, the hospitals segment generated the highest share in 2020, holding nearly half of the global bone densitometers market, owing to increase the disorders such as bone fractures among individuals. The clinics segment, on the other hand, is expected to cite the fastest CAGR of 4.3% from 2021 to 2030.
North America to dominate by 2030-
By region, North America contributed to the major market share in terms of revenue 2020, holding nearly half of the global bone densitometers market. Presence of key players across North America and robust infrastructure provided for research activities in the region drive the market growth. Asia-Pacific, simultaneously, is projected to cite the fastest CAGR of 5.3% from 2021 to 2030. This is attributed to rise in investments in the healthcare sector and growing R & D activities for new product launch in the province.
Prominent market players-
- CNH Industrial N.V.
- Deere & Company
- XCMG Group
- Doosan Infracore Co Ltd.
- J C Bamford Excavators Ltd.
- Komatsu Ltd.
- Liebherr International AG
- Caterpillar Inc.
- Volvo Group
- Hitachi Construction Machinery Co. Ltd.
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