Increasing geriatric populationand increasing medical tourism for orthopedic treatment in certain regions suchas Asia Pacific are the major factors expected to fuel growth of the bonedensitometers market over the forecast period.
Regional segmentation of the BoneDensitometers Market by Coherent Market Insights comprises North America,Europe, Latin America, Asia Pacific, Middle East, and Africa. North America isestimated to be the fastest growing region in the global bone densitometersmarket. This is mainly due to relatively better healthcare infrastructure,providing good medical facilities and treatment. Major players are focusing onintroduction of novel technologies to cater to large patient base ofosteoporosis. For instance, Hitachi Aloka introduced EggQus, a compact andportable ultrasound bone densitometry system in 2015. Also, in May 2015, LoneOak Medical Technologies, LLC received authorization from Health Canada for itsproduct accudxa2, a device designed for treatment and diagnosis of bone-relateddisorders. Asia Pacific market is expected to witness the highest growth rateover the forecast period, owing to improving healthcare facilities in countriesin the region. For instance, in 2013, private health expenditure as % of GDPwas 66.9% and 44.0% for India and China respectively according to the WorldData Bank. Moreover, regional players are providing low cost products, which inturn, increases its accessibility for middle income group. Asia Pacific regionis expected to attract medical tourists for orthopedic treatment, especially inemerging economies in the region such as India. For instance, according toDirectorate-General of Commercial Intelligence and Statistics of India, in2015, Indian hospitals had 460,000 international patients for varioustreatments.
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Bone densitometer is a medicaldevice that measures bone density and monitors the mineral content of the bone.Bone density test determines decrease in bone density, risks of possible bonefractures, risk of osteoporosis, and monitors effective treatment.
Bone densitometer consistsdetectors, phantoms, X-ray tubes, and power supplies. Central devices andperipheral devices are used to test bone density at different parts of thebody. Central device examines density of spinal and hip bones; however,peripheral devices test bone density in wrists, fingers or heel, among otherperipheral bones. Osteoporosis causes weakening and thinning of bones, which inturn, leads to potential bone injuries. Therefore, bone densitometers can beused for early detection.
Rising prevalence of osteoporosisin geriatric population is expected to fuel growth of the bone densitometersmarket
According to InternationalOsteoporosis Foundation, over 8.9 million fractures are caused due toosteoporosis, annually. Furthermore, around 200 million postmenopausal womensuffer from osteoporosis, globally. According to Centers for Disease Controland Prevention (CDC), in 2016, around 25% women aged 65 and above weresuffering from osteoporosis of the femur neck or lumbar spine and neededtreatment, in turn fueling growth of the bone densitometers market.
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According to Osteoporosis Canada,osteoporosis causes 70–90% of 30,000 hip fractures annually. Moreover, in 2012,treatment of osteoporosis was valued at around US$ 3.9 billion in Canada.Moreover, factors such as sedentary lifestyle, smoking, drinking, and unhealthydietary habits may lead to osteoporosis. This in turn, increases demand forbone densitometers to diagnose disease, fuelling growth of the market.
Key players operating in the globalbone densitometers market
Key players operating in theglobal bone densitometers market include Hologic, Inc., GE Healthcare,Echolight, DMS Imaging, Swissray, Medonica Co. Ltd., Medilink, Lone Oak MedicalTechnologies LLC, Hitachi Ltd., and BMTech. In 2016, Hologic Inc., announcedthe results of a survey conducted on osteoporosis, to raise awareness of thiscondition and promote efficient risk assessment.
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