Increasing prevalence of osteoporosis, rheumatoid arthritis, and calcium and vitamin D deficiencies along with bone fractures or dislocations are the vital drivers for the bone densitometer market. The rising healthcare expenditure by individuals, increasing incidences of calcium and vitamin D deficiencies, and technological advancements of the products are high-impact rendering drivers expected to spur the market growth over the forecast period. Supportive government initiatives in order to increase the awareness and provision of funding for the purpose of R&D and analysis are the political factors promoting the growth of the market. Primary advantages offered by the devices such as minimum error, higher sensitivity, and lesser adverse effects further fuel the growth of the market.
Technologically, axial bone densitometers held the largest share of the market; however, peripheral bone densitometers are anticipated to witness faster and productive growth over the forecast period owing to the benefits offered. Benefits include better accuracy, precision, and sensitivity along with compactness, portability and minimum radiation exposure to patient. On the basis of end-use, hospitals held the larger share of the market due to the high procedure volume.
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North America held the largest share for the bone densitometer market owing to the presence of state-of-the-art technology and infrastructure in the region along with increasing prevalence of osteo diseases and rising geriatric population base. Europe is anticipated to witness lucrative growth over the forecast period. Germany is expected to be the fastest growing nation of the region owing to rising industrialization and increasing investment of the nation into the healthcare sector. CE markings given by EU are further anticipated to boost the growth of the market in the region.
Asia Pacific is expected to be the fastest growing region due to supportive government initiatives and rising technological advancements. Major players of the bone densitometer market are Diagnostic Medical Systems, Lone Oak Medical Technologies LLC, Osteometer Meditech Inc., Cooper Surgical, Hologic Inc., GE Healthcare Ltd., CompuMed Inc., and BeamMed Ltd. Competition during the forecast period is anticipated to increase owing to the new players entering the market in various regions.
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