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Bone Mineral Densitometry (BMD) Market Segmented By Axial Bone Mineral Densitometry, Peripheral Bone Mineral Densitometry Products
Global revenue from the bone mineral densitometry (BMD) market stands at US$ 329.8 Mn in 2022, with the worldwide market estimated to surge ahead at a CAGR growth value of 3.7% to reach a valuation of around US$ 489.5 Mn by the end of 2033.
Bone Mineral Densitometry (BMD) Market Size (2022)
US$ 329.8 Mn
Projected Market Value (2033)
US$ 489.5 Mn
Global Market Growth Rate (2023-2033)
Market Share of Top 5 Countries
According to Persistence Market Research, axial bone densitometer segment within the product category secured a market value of US$ 227.7 Mn in 2022.
The global market for bone mineral densitometry (BMD) recorded a historic CAGR of 2.6% in the last 6 years from 2016 to 2022. BMD market constitutes less than 4.6% market share within the global X-ray systems market valued at close to US$ 7.1 Bn in 2022
The prevalence of osteoporosis and the rise in osteoporosis-related fractures on a yearly basis have increased the demand for bone mineral densitometers. In turn, this has increased the installation of bone mineral densitometers in various healthcare settings like hospitals, orthopedic clinics, and diagnostic centers. Manufacturers are focusing on the technological advancement of volumetric scanning which will pave a path towards developing new opportunities in bone health management, identifying future risks associated with fracture and implementing preventive measures. This is due to the emergence of 3D modelling and various visualization software. Important market participants are collaborating to produce and distribute these items through a variety of channels.
In 2019, it was reported in one of articles published by NCBI that the number of fractures that are caused due to osteoporosis in a year would rise from 1.9 million to 3.2 million that is, by a percentage of 68% from the year 2018 to 2040. This points to the increasing use of bone densitometers hence, would impact the bone mineral densitometry (BMD) market in a positive manner.
The International Osteoporosis Foundation predicts that by 2050, women's hip fracture rates would rise by 240% and men's hip fracture rates will rise by 310% globally compared to 1990 rates. The rising rate of osteoporosis and the risk of osteoporotic fractures will increase the need for bone testing and the installed base of the densitometers globally.
The global bone mineral densitometry (BMD) market is thus likely to show gradual growth over the coming years with a CAGR value of 3.7%, and reach a global market size of around US$ 489.5 Mn by 2033.
“Increased Use of 3D Visualization Software and Rise in Geriatric Population and Post-Menopausal Women Population”
Clinical decision-making is aided by accurate body composition measurements, high-resolution radiograph images, and lower precision errors. This provides clinicians with multiple calibration parameters and the necessary recommendations. Additionally, the adoption of 3D visualization and modelling will pave the way for new diagnostic techniques, providing manufacturers with a significant opportunity to expand in this market. The advancements in technology would eventually have a positive impact on the global BMD market.
Apart from this, the market will also see opportunities as a result of manufacturers being drawn to offer specifications and needs for the establishment of scanning facilities to test various applications in the bone health management.
Other than this, with advancing age, women's bone density decreases by 30% to 50%. After menopause, the levels of oestrogen decrease which accelerates bone loss significantly. Osteoporosis is very likely to affect postmenopausal women. It is usually advisable to treat osteoporosis in nearly half of postmenopausal women and one-sixth of males who are 50 years of age or older. This would create opportunities for the bone mineral densitometry manufacturers.
Also, the geriatric population is a high-risk population for osteoporosis. Therefore, the use of the bone densitometers can be linked with the rise in geriatric population, creating lucrative opportunities for this market.
“High Cost Associated with the Bone Densitometers”
The high price of bone densitometers is expected to hamper the sale of bone mineral densitometers. This would have a negative impact on the growth of the bone mineral densitometry (BMD) market. In most emerging Asian nations, especially in rural regions, dual-energy x-ray absorptiometry (DXA) technology is considered very expensive and not readily accessible. In the last decade, installations of refurbished bone densitometers has been observed majorly due to the high cost factor of the product. This will pose as a challenge in the growth of this market.
Other than this, stringent government regulations is another major factor that can restrain the growth of the BMD market.
Why is the U.S. Market Booming?
“High Number of Osteoporotic Fractures in the U.S.”
The U.S. accounted for around 72.9% market share in the North American market in 2022, and a similar trend is expected over the forecast period.
The country's demand for bone mineral densitometry is being driven by the vast population suffering from osteoporosis and the related fractures. In one of the articles published by NCBI in 2020, it stated that in U.S. itself more than 1.5 Mn cases of fractures were due to fragility of bone leading to osteoporotic fractures every year. This points to the growth of the BMD market in this country.
Will the Russia be a Lucrative Market for Bone Mineral Densitometry (BMD)?
“High Number of Population who are at High Risk of Osteoporotic Fractures”
Russia held around 21.8% market share of the Europe market in 2022 and was valued at US$ 11.4 Mn in 2022.
According to a data reported by Journal of Personalized Medicine in 2022, there are around 14 million people who suffer from osteoporosis in the Russian Federation. Also, 20 million suffer from osteopenia and are usually at high risk of osteoporotic fractures in the Russian Federation.
The lack of hospitalization and surgery after hip fracture in several Russian cities contributes to an abnormally high re-fracture rate in the first year after a fracture. Only 9% of hip fracture survivors resume their prior level of daily activity. All this contributes to the growth of the BMD market in Russia.
How is China Emerging as a Prominent Market for Bone Mineral Densitometry (BMD)?
“High Prevalence of Osteoporosis in Chinese Women”
China held the largest market share of about 47.6% in the East Asia market in 2022. It exhibits the growth of 5.3% by the end of 2033.
Osteoporosis is quite prevalent in China, with a hip incidence rate of 16.3%, according to WHO. Osteoporosis affects about 6.4% and 29.1% of men and women in China, or more than 10 million men and 40 million women, respectively, according to a 2020 research. Osteoporosis is more common in Chinese women as they age, with prevalence rates ranging from 24.0% in those between the ages of 50 and 59 to 83% in those over 80.
An enormous financial burden results from the large number of osteoporosis cases and osteoporotic fractures. An effective way to control bone mineral density and reduce the risk of fracture is by bone mineral density detection. This would eventually be favourable for the growth of the China market.
Which Product is Driving Growth of the Global Market?
“Increased Instances of Fractures in the Hip and Spinal Regions”
The axial bone densitometer segment held around 69.0% share of the global market in 2022.
Due to the fact that the bones are immersed in thicker tissues with more varying chemical compositions, determining the density or mass of bone mineral formations in areas like the vertebral column, rib cage, and pelvic is quite complicated. Axial bone densitometers are quite well suited for determining bone density in these central sites. Additionally, there are more instances of fractures and osteoporosis designated to the hip and spinal region around the world, which increases the demand for axial bone densitometry.
Which Technology is Driving Growth of the Global Market?
“Increased Recommendations for the Dual Energy X-Ray Absorptiometry (DXA)”
The dual-energy X-ray absorptiometry (DXA) segment held around 64.1% share of the total market in 2022. This segment is expected to surge at a CAGR of 3.9% over the period of 2023 to 2033.
The National Osteoporosis Foundation highly recommends DXA for the hip and spine. The World Health Organization views dual-energy X-ray absorptiometry (DXA) measurements of bone mineral density (BMD) as a diagnostic indicator for osteoporosis. Due to such recognition from highly recognized organizations, the installations of dual-energy X-ray absorptiometry (DXA) technology is higher as compared to other technologies.
Which End User Poses a Greater Adoption of Bone Mineral Densitometry?
“Rising Number of BMD Detection Facilities in Hospitals”
Hospitals held the largest share of about 64.6% with a market value of around US$ 212.9 Mn in 2022. The hospitals segment in this market is also expected to surge at a CAGR of 3.6% over the period of 2023 to 2033. The increasing number of hospitals procuring products for the detection of bone mineral density, makes the hospitals the dominant segment in the end user category.
Key players are concentrating on product line additions and growth in developing nations. In order to comprehend bone geometry, volumetric analysis of cortical bone thickness and calculate bone mineral density, several manufacturers are investing in the development of integrated software. Market participants are also working to strengthen their regional presence through product launches, expansions, product launches, acquisitions and collaborations.
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The global market is currently valued at around US$ 329.8 Mn in 2022.
Sales of the bone mineral densitometry (BMD) are set to witness a growth rate of 3.7% and be valued at US$ 489.5 Mn by 2033.
Demand for bone mineral densitometry (BMD) market increased at a 2.6% CAGR from 2016 to 2022.
The U.S., Canada, China, Japan, and India account for the highest share of the bone mineral densitometry (BMD) market, currently holding a 65.4% market share.
The U.S. accounts for around 72.9% share of the North American market in 2022.
Canada accounted for around 27.1% share of the North American market in 2022.
The Europe market is predicted to expand at 3.2% CAGR over the forecast period.
China market held a share of about 47.6% in the East Asia market in 2022.
The current value of the South Asia market is US$ 24.2 Mn for the year, 2022.
Japan market is estimated to grow at a CAGR of close to 3.2% over the forecast duration