bone sonometers market REPORT OVERVIEW
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The global bone sonometers market size was in USD 475.4 million 2022 and is expected to reach USD 551.3 million by 2028, exhibiting a CAGR of 2.5% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
A bone sonometer, often referred to as a bone densitometer or bone density scanner, is a diagnostic medical device designed to assess the density and strength of bones. It utilizes a technology called dual-energy X-ray absorptiometry or ultrasound to measure the mineral content of bones, typically at sites such as the spine, hip, or forearm. The measurement is expressed as bone mineral density (BMD) and is a crucial indicator of bone health.
COVID-19 Impact: Increased Awareness of Bone Health among Population to Fuel Market Growth
The pandemic heightened individuals' awareness of overall health, including the significance of bone health. This heightened awareness potentially drove greater numbers of people to seek out bone density assessments, contributing to an increased demand for bone sonometers. The COVID-19 pandemic had a more significant impact on older adults, a demographic already at an elevated risk of experiencing osteoporosis and associated fractures.
Throughout the pandemic, numerous healthcare facilities delayed or scaled back non-essential medical procedures and screenings to allocate resources toward COVID-19 patients. This interruption in healthcare services could have had an adverse effect on the regular utilization of bone sonometers.
LATEST TRENDS
"Technological Advancements, and Telemedicine Integration to Fuel Market Growth "
Technological advancements in bone sonometers have played a pivotal role in enhancing the accuracy, efficiency, and user-friendliness of these devices, thereby significantly improving the diagnosis and management of bone health. Contemporary bone sonometers employ advanced sensors and measurement methodologies, resulting in heightened precision and accuracy when assessing bone density. This increased precision equips healthcare providers with the necessary tools to make more informed decisions regarding patient care. Furthermore, DXA technology, a primary method employed in bone sonometers, has witnessed notable improvements in both hardware and software components. These enhancements have effectively reduced the margin of error and improved the consistency of bone density measurements. The integration of bone sonometers with telemedicine platforms became increasingly prominent, enabling patients to receive remote bone density assessments and consult with healthcare providers. This trend was expedited by the COVID-19 pandemic.
bone sonometers market SEGMENTATION
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- By Type
Based on Type market is classified as DEXA, Ultrasound, and Others.
- By Application
Based on Application market is classified as Hospital, Clinic, Health Center, and Others.
DRIVING FACTORS
"Aging Population to Fuel Market Growth "
The global aging population is a significant driver of the bone sonometers market growth. As individuals age, the risk of osteoporosis and related bone health issues increases, thereby fueling a greater demand for bone density assessments and contributing to the expansion of the market.
"Osteoporosis Awareness to Stimulate Market Progress"
The heightened awareness surrounding osteoporosis and the significance of bone health has resulted in an elevated market demand for bone sonometers. Individuals are actively pursuing bone density assessments as a proactive measure for early detection and preventive healthcare.
RESTRAINING FACTOR
"High Equipment Costs to Harm Market Growth "
The acquisition and maintenance costs associated with bone sonometers can be substantial. These high initial expenditures may pose challenges, particularly for smaller healthcare facilities or those located in resource-limited regions.
bone sonometers market REGIONAL INSIGHTS
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"North America Has Well-Established Healthcare Infrastructure To Drive Market Share"
In North America, characterized by maturity, the region boasts a substantial market owing to its well-established healthcare infrastructure and widespread osteoporosis awareness. It also maintains a prominent market share through its leadership in technological advancements, prioritizing precision and seamless data integration in bone sonometer equipment. The bone sonometers market share continues to grow due to the increasing emphasis on preventive healthcare, especially among the aging population. However, it is essential to consider the influence of variable reimbursement policies across different states and provinces, as they can impact the market share distribution and adoption rates of bone sonometers.
KEY INDUSTRY PLAYERS
"Multitude Of Companies That Played A Pivotal Role In Expansion Of Market"
In the market, pivotal industry players significantly influence the industry's direction and contribute to innovation in bone density assessment technology. These firms often possess a worldwide footprint and provide a diverse portfolio of bone sonometer products and associated services. GE Healthcare, for instance, is a renowned global entity recognized for its extensive lineup of medical imaging solutions, encompassing bone sonometers. Their offerings include advanced DXA technology tailored for bone density assessments.
List of Market Players Profiled
- GE Healthcare (U.S.)
- Hologic (U.S.)
- Furuno Electric (Japan)
- Osteosys (Seoul)
- DMS (India)
REPORT COVERAGE
The future demand for the market is covered in this study. The Research report includes the Impact of Increased Awareness of Bone Health due to the Covid-19 Impact. The report covers the latest trends in Technological Advancements. The paper includes a segmentation of the bone sonometers market. The research paper includes the driving factors that are Aging Population to Fuel Market Growth. The report also covers information on Regional Insights where the region which has emerged leading market for bone sonometers.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 475.4 Million in 2022 |
Market Size Value By |
US$ 551.3 Million by 2028 |
Growth Rate |
CAGR of 2.5% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the bone sonometers market expected to touch by 2028?
The global bone sonometers market size is expected to reach USD 551.3 million by 2028.
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What CAGR is the global bone sonometers market expected to exhibit by 2028?
The global bone sonometers market is expected to exhibit a CAGR of 2.5% by 2028.
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Which are the driving factors of the bone sonometers market?
The driving factors of the bone sonometers market are Aging Population, and Osteoporosis Awareness.
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Which are the key players or most dominating companies functioning in the bone sonometers market?
GE Healthcare, Hologic, Furuno Electric, Osteosys, and DMS are the key players or most dominating companies functioning in the bone sonometers market.
