Bone Densitometer Global Market Opportunities and Strategies to 2033

This report describes and explains the bone densitometer market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global bone densitometer market reached a value of nearly $1.12 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.29% since 2018. The market is expected to grow from $1.12 billion in 2023 to $1.71 billion in 2028 at a rate of 8.78%. The market is then expected to grow at a CAGR of 9.62% from 2028 and reach $2.71 billion in 2033.

Growth in the historic period resulted from the rising healthcare infrastructure, rise in disposable income, the increasing cases of osteoporosis and the increasing investments. Factors that negatively affected growth in the historic period was taxation on medical devices.

Going forward, the growing cases of arthritis, rapid growth in elderly population, government support and the increasing prevalence of chronic kidney disease will drive the growth. Factor that could hinder the growth of the bone densitometer market in the future include high cost of bone densitometers.

The bone densitometer market is segmented by type into axial bone densitometry and peripheral bone densitometry. The axial bone densitometry market was the largest segment of the bone densitometer market segmented by type, accounting for 57.61% or $648.15 million of the total in 2023. Going forward, the peripheral bone densitometry segment is expected to be the fastest growing segment in the bone densitometer market segmented by type, at a CAGR of 9.39% during 2023-2028.

The bone densitometer market is segmented by application into osteoporosis and osteopenia diagnosis, cystic fibrosis monitoring, body composition measurement, rheumatoid arthritis diagnosis and other applications. The osteoporosis and osteopenia diagnosis market was the largest segment of the bone densitometer market segmented by application, accounting for 38.59% or $434.18 million of the total in 2023. Going forward, the body composition measurement segment is expected to be the fastest growing segment in the bone densitometer market segmented by application, at a CAGR of 9.61% during 2023-2028.

The bone densitometer market is segmented by end-user into hospitals, clinics, diagnostic and imaging centers and other end-users. The hospitals market was the largest segment of the bone densitometer market segmented by end-user, accounting for 54.94% or $618.14 million of the total in 2023. It is expected to be the fastest growing segment in the bone densitometer market segmented by end-user, at a CAGR of 9.42% during 2023-2028.

North America was the largest region in the bone densitometer market, accounting for 30.85% or $347.12 million of the total in 2023. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the bone densitometer market will be Asia Pacific and North America where growth will be at CAGRs of 11.44% and 10.09% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 7.59% and 5.97% respectively.

The global bone densitometer market is fairly concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 24.15% of the total market in 2022. General Electric Company was the largest competitor with a 15.88% share of the market, followed by Hologic Inc. with 4.51%, Trivitron Healthcare with 1.07%, Echolight S.p.a with 0.83%, DMS Group with 0.74%, Beammed Ltd. with 0.39%, Swissray International, Inc. with 0.36%, OsteoSys Corp with 0.13%, Scanflex Healthcare AB with 0.13% and Medonica Co. LTD with 0.12%.

The top opportunities in the bone densitometer market segmented by type will arise in the axial bone densitometry segment, which will gain $318.39 million of global annual sales by 2028. The top opportunities in the bone densitometer market segmented by application will arise in the osteoporosis and osteopenia diagnosis segment, which will gain $233.86 million of global annual sales by 2028. The top opportunities in the bone densitometer market segmented by end-user will arise in the hospitals segment, which will gain $351.3 million of global annual sales by 2028. The bone densitometer market size will gain the most in the USA at $213.77 million.

Market-trend-based strategies for the bone densitometer market include use of artificial intelligence (AI) technology for detecting bone density, strategic partnerships and collaborations among market players to drive innovation in the market, advancements in REMS technology to analyze ultrasound signals for bone density and innovative product launches for assessing bone density and body composition.

Player-adopted strategies in the bone densitometer market include focus on strategic partnerships and collaborations to better serve the industry and to strengthen their position.

To take advantage of the opportunities, the analyst recommends the bone densitometer companies to focus on AI integration for enhanced bone densitometry, focus on advanced, portable solutions for enhanced bone health assessment, focus on innovation and portfolio expansion for market growth, focus on peripheral bone densitometry segment, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations for market expansion, focus on diversifying distribution channels for market expansion, provide competitively priced offerings, focus on strategic pricing for market competitiveness, participate in trade shows and events, continue to use B2B promotions, focus on targeted promotional strategies for market penetration, focus on accelerated growth in body composition measurement segment and focus on hospitals for optimal growth.