Bone Mineral Densitometry (BMD) Market Overview
The bone mineral densitometry (BMD) market is classified based on product, technology, end-user, and geographical region. The axial bone densitometer is currently dominating the market, but the peripheral bone densitometer segment is showing promising signs of fast growth. Quantitative ultrasound (QUS) technology has a strong market presence, and when looking at end-users, orthopedic clinics take the lead.
A significant force driving this market is the rising incidence of osteoporosis and bone-related ailments globally. BMD tests are pivotal in early detection and management of such conditions. Additionally, the evolution of BMD equipment and methods, particularly quantitative ultrasound (QUS) and peripheral bone densitometers, enhance the precision of BMD readings, which further propels the market's growth.
On the other side, some challenges are slowing the market's pace. The considerable cost of BMD machinery and the intricacies of understanding test results might hinder BMD testing's widespread acceptance and availability.
However, the BMD market is ripe with potential growth opportunities. Innovations such as handheld and point-of-care BMD gadgets offer both convenience and ease of access. Furthermore, the burgeoning healthcare framework in up-and-coming markets presents potential to boost the accessibility and affordability of BMD test offerings.
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Overview The bone mineral densitometry (BMD) market globally grew steadily in recent years, with expectations to achieve a 4.1% CAGR from 2023 to 2030. As of 2022, the market's value was at USD 0.3 billion, aiming to hit USD 0.39 billion by 2030.
Product Breakdown
- Axial bone densitometers led the market in 2022, boasting over a 52% share in value.
- However, the peripheral bone densitometer sector might see the quickest growth rate in the coming years.
Technological Insight
- Quantitative ultrasound (QUS) tech has a stronghold on the BMD market, holding over 38% in 2022.
- The remaining demand primarily comes from the dual-energy x-ray absorptiometry (DXA) segment.
End User Analysis
- Hospitals are predicted to see the most significant growth in BMD use in the foreseeable future.
- Orthopedic clinics already had a considerable market share, with over 40% in 2022.
Regional Trends
- North America led the BMD market in 2022, claiming more than 44% of the global revenue.
- Europe continues as a significant player in the BMD market.
- The Asia-Pacific region is poised for considerable growth due to multiple factors.
- Other global regions are quickly adopting BMD practices.
Osteoporosis' rising prevalence has driven up BMD demand. Manufacturers focus on technological advancements, such as volumetric scanning, to optimize bone health management. Collaborations among major market players aim to expand distribution channels.
The anticipated increase in osteoporosis-related fractures, projected to jump by 68% from 2018 to 2040, will likely boost BMD market growth.
Key Market Factors
3D Visualization Software's Rise Modern body composition measurements, high-res images, and improved accuracy aid clinical decisions. The adoption of 3D visualization is set to introduce novel diagnostic methods, which can uplift the global BMD market.
Evolving Demographics and Health Concerns Women experience significant bone density reductions, particularly post-menopause, which amplifies osteoporosis risks. With osteoporosis likely affecting a considerable number of postmenopausal women and men over 50, BMD manufacturers see potential growth opportunities. The rising geriatric population, prone to osteoporosis, further solidifies this potential.
Market Challenges High costs might deter potential BMD sales, especially in emerging Asian nations where DXA tech is deemed expensive. The emergence of refurbished densitometers due to high pricing indicates potential growth challenges. Strict government regulations could also limit market expansion.
US-Specific Insights
Osteoporosis and related fractures have surged in the U.S., with over 1.5 million cases annually. Such trends indicate positive BMD market growth prospects in the country.
Competitive Scenario
Top companies are diversifying their products and eyeing growth in developing countries. Investments are funneling into software development for bone geometry comprehension, volumetric cortical bone analysis, and BMD calculation. Strengthening regional presence is also a priority, achieved via product launches, expansions, and collaborations.
Notable examples include:
- GE Healthcare's 2020 partnership with TVM Capital Healthcare to bolster healthcare company growth.
- Hologic's 2018 alliance with the University of Minnesota to pair the Horizon DXA system with Dexalytics software, enhancing body composition analysis.
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Key Questions Answered in This Report:
- Which products dominate the bone mineral densitometry (BMD) market, and which ones are poised for growth?
- How does the quantitative ultrasound (QUS) technology fare against other BMD technologies in the market?
- Who are the primary end-users of BMD, and how has their preference evolved over time?
- What are the primary drivers propelling the global BMD market forward?
- What challenges might impede the market's growth, and how can they be addressed?
- How are technological advancements influencing the direction and growth potential of the BMD market?
- Which regions or countries exhibit the most promise for the expansion of BMD testing services?
- How are emerging markets shaping the future landscape of BMD services and product adoption?
Browse the full (Bone Mineral Densitometry (BMD) Market By Product (Axial Bone Densitometer, Peripheral Bone Densitometer) By Technology (Dual Energy X-Ray Absorptiometery (DXA), Peripheral Dual Energy X-Ray Absorptiometery (pDXA), Quantitative Ultrasound (QUS))-Growth, Future Prospects & Competitive Analysis, 2016 – 2030) - https://www.credenceresearch.com/report/bone-mineral-densitometry-bmd-market
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