ALBANY, New York, March 22, 2019
ALBANY, New York, March 22, 2019 /PRNewswire/ -- The global bone densitometers market has opened doors for entry for small players, thanks to the its innovative and fragmented landscape, reports Transparency Market Research (TMR). The development is leading to a healthy and robust competition, inciting new promotion strategies from the larger players. However, due to large investments in research and development, larger player in the market are expected to enjoy an upper-hand in the near future, adds TMR. Some of the main players in the global bone densitometers market are GE Healthcare, Hitachi, Ltd., Lone Oak Medical Technologies LLC, Beammed, Osteometer Meditech Inc.
The bone densitometers market is witnessing a positive burst of innovation, thanks to advancements such as 3D technology. 3D stimulation allows clinical researchers to stimulate areas of bones, which were least understood before such as internal tissue mechanic. The new technology enables studies to understand the interaction between the geometry of the femur, bone density, and external pressure on bones in 3 dimensions. The new development is expected to result in significant new opportunities for all players in the bone densitometers market.
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The global bone densitometers market is expected to reach an evaluation of US$1.11 bn by 2024. The market grossed an evaluation of only US$0.84 bn in 2015. However, growing cases of osteoporosis are expected to drive the market to a healthy 3.10% CAGR during 2016-2024. North America is expected to retain the largest share of the global bone densitometers market during the forecast period. It held a 44% revenue share of the global market in 2015 and growing population of the elderly is anticipated to generate robust growth for the regional market.
Rising Cases of Hip Fractures Propel the Bone Densitometers Market
Rising cases of osteoporosis due to rising thyroid cases, and unhealthy lifestyle leading to minimal exercise are expected to drive the bone densitometers market. In the western hemisphere, hip fractures are rising rapidly. According to Center for Disease Prevention and Control (CDC), over 300,000 are hospitalized every year in the US, due to hip fractures.
Additionally, higher risk population such as women, especially pregnant women, and elderly are expected to create significant opportunities in the near future. Elderly population continues to rise worldwide, and recent studies shows from John Hopkins Institute also show that hip fracture scans can serve as an early indicator for increased monitoring for deadly diseases like Alzheimer.
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Research Opens New Opportunities for the Bone Densitometers Market
Additionally, recent research published in the in The Journal of Pharmaceutical Health Services Research, also discovered that men, especially black men were significant undertreated for osteoporosis. This coupled with favorable insurance policies due to the affordable care act are expected to open more opportunities for the bone densitometers market in the near future.
According to recent research by Children's Hospital of Philadelphia, causative genes might be at in rising cases of osteoporosis. The research used powerful data analyzing tools to conclude that specific gene pools may help the early detection of osteoporosis in the near future.
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On the other hand, technology advancements like Big Data and Artificial Intelligence are opening doors for breakthrough medical research at unimaginable diseases. This has an important implication for the bone densitometers market. New discoveries in this area can require regular testing for patients with increased risk due to their specific gene pool.
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The report segments the key dynamics of the global bone densitometers market as:
- End Users
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