Bone Density Test Market: Industry Trends, Size, Key Players, COVID-19 Impact Analysis, Opportunity and Forecast
The global market for bone density test has a better growth opportunity with various changes in the market and it can record a rise with 7.2% CAGR between 2017 and 2023, which can be considered as the forecast period of Market Research Future (MRFR).
Bone density test is getting traction with the growing demand for analysis of the density of bone and determination of how prone the person is to various bone-related diseases. This test determines how brittle the bones have become. Among various procedures, a central dual-energy X-ray absorptiometry (DXA) test is a process to check the density of the bone in the hips and spine.
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The global market for bone density tests can be segmented by devices, indication, type, and end user. This type of segmentation creates room for an analysis of factors on the grounds of data provided by analytical reports on volumes and values. Such extensive understanding can inspire better strategic moves that would fetch in more revenues.
By type, the market for bone density test can be segmented into radiographic absorptiometry, peripheral tests, Central dual-energy x-ray absorptiometry (DXA), and others. The Peripheral test segment includes quantitative ultrasound (QUS), peripheral dual energy X-ray absorptiometry (pDXA), and peripheral quantitative computed tomography (pQCT).
By indication, the market report on the bone density test encompasses osteopenia, osteoporosis, hyperparathyroidism, hyperthyroidism, and others. The osteoporosis segment has scope to surpass others as the rising geriatric population is providing a tailwind for growth.
By devices, the market for bone density tests can be studied on the basis of handheld devices and the central DEXA scan machine. The handheld dual-energy can find its operational scope to be beneficial for growth.
The Americas have a better chance for growth in the bone density test market as the region is showing significant inclusion of technologies and infrastructure. Both these opportunities are maximizing their output as the constant influx of investment is backing up the growth procedure. Rising concerns related to the market and better diagnostic measures are growing to influence growth for the North American market where countries like Canada and the US have a ready setup to explore these possibilities. In Europe, the growth would create scope for the market to expand. It is, at present, the second-largest market and the inclusion of portable and hand-held devices are expected to provide better traction to regional growth. Changing in lifestyle, food consumption, and others are also going to impact market growth.
The Asia Pacific region is going to influence the market with its massive population where the high number of women is going to inspire better market growth. The reason is inadequate nutrition and a lack of awareness. In India, China, Japan, and other countries, this can trigger further growth of the bone density test market. Women hitting menopause are more prone to bone-related diseases, which can influence changes in the market.
Companies making significant moves in the global market for bone density tests can be taken into consideration for a detailed understanding of how the market is planning to move forward. MRFR’s inclusion of these companies has opened up a probability for a detailed study of recent actions. These companies are Osteometer Meditech Inc. (U.S), BeamMed Ltd. (Israel), Hologic Inc. (U.S), General Electric Company (U.S.), Swissray (U.S.), Osteosys Corp (South Korea), DMS Imaging (France), Medonica Co. LLTb (South Korea), and Lone Oak Medical Technologies, LLC (U.S.). Their growth tactics often encompass mergers, tie-ups, and others.
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