Bone Densitometer Systems Market Trends
Growth Drivers
- Growing Prevalence of Musculoskeletal Diseases - Musculoskeletal diseases are a group of diseases that usually affects the joints, bones, and muscles, and aid the development of other bone diseases and their related illnesses. Treatment of such musculoskeletal conditions requires bone densitometer systems for an effective healing process of bones. As per the statistics shared by the World Health Organization (WHO) in 2022, approximately 1.71 billion people are affected by musculoskeletal conditions all over the world.
- Rapid Growth of the Orthopedic Devices Industry –This expansion of orthopedic devices is anticipated to generate favorable opportunities for an increase in the utilization rate of bone densitometer systems in treating bone diseases. For instance, the orthopedic device industry was expected to reach a total value of USD 45 billion by 2022.
- Rapid Escalation in Number of Bone Fractures – For instance, in 2019, there were more than 175 million cases of fractures and approximately 450 million cases of acute or long-term symptoms of a fracture.
- High Focus on Developing the Medical Devices Sector - The data revealed by the India Brand Equity Foundation (IBEF) stated that in FY20, the foreign investments in the Indian medical devices sector increased to USD 301 million from USD 151 million in FY19, which indicates a 98% increment.
Challenges
- High Cost of Bone Densitometer Systems – Dual-energy X-ray Absorptiometry (DEXA) is one of the most common methods of bone densitometer systems for detecting bone mineral density. However, the cost of DEXA scanners is very much high owing to the integration of technologically advanced features and programs.
- Requirement of High Initial Investments
- Unavailability of Skilled Workforce for Utilization of Advanced Devices
Bone Densitometer Systems Market: Key Insights
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
3.9% |
|
Base Year Market Size (2024) |
USD 325.87 million |
|
Forecast Year Market Size (2037) |
USD 532.54 million |
|
Regional Scope |
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