Bone Densitometer Market by Type (DEXA, Peripheral), Application (Osteopenia & Osteoporosis, Cystic Fibrosis, CKD, Body Composition Measurement, Rheumatoid Arthritis), End User (Hospitals & Specialty Clinics, Diagnostic Centres) - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Bone Densitometer market size was estimated at USD 300 million in 2022 and is expected to surpass around USD 410 million by 2030 and poised to grow at a compound annual growth rate (CAGR) of 8.2% during the forecast period 2022 to 2030. North America accounted for the largest share of the bone densitometer market, followed by Europe. The growth of the bone densitometers market in North America is primarily driven by the high consumer awareness, increase in healthcare expenditure, increasing prevalence of osteoporosis, and the presence of key market players in the region.

Report Scope of the Bone Densitometer Market

Covid-19 Impact

During the COVID-19 pandemic, hospitals were forced to radically change their operations and processes to safely manage both COVID-19 and non-COVID-19 patients. This led to the cessation of normal outpatient activities with restricted access to hospitals. This, in turn, caused disruptions in the demand for bone densitometry testing. However, recovery was seen in most regions, especially North America and Europe, as services regained normalcy. The Asia Pacific market was slower to recover, especially in China and India.

The long-term effect of the pandemic on the bone densitometers market is neutral, with the market growing slowly from Q3 2020 onwards and going back to pre-COVID conditions from Q1 2021 onwards.

Bone densitometer Market Dynamics

Market Drivers: Rising Incidence Osteoporosis

Bone densitometers are used to determine and diagnose osteoporosis, osteopenia, and diseases leading to the degeneration of bones, such as osteomalacia, osteoarthritis, and osteoporotic fractures. Bone densitometers are used to measure the bone density of patients, which determines the likelihood of these diseases occurring.

According to the International Osteoporosis Foundation (IOF), osteoporosis causes more than 8.9 million fractures annually—globally, an osteoporotic fracture occurs every three seconds. According to a study conducted by the IOF, it is estimated that the number of people with osteoporosis and osteopenia in China is expected to increase to 286.6 million by 2020 and 533.3 million by 2050. The incidence of hip fractures has already risen two- to three-fold in most Asian countries during the last 30 years. By 2050, more than 50% of all osteoporotic fractures will occur in Asia. With the growing incidence of osteoporosis, the demand for effective diagnostic approaches will increase significantly, thereby driving the demand for bone densitometers.

Growing Geriatric Population

In the last few decades, the geriatric population has increased significantly across the globe. Globally, the population aged 65 and over is growing faster than all other age groups. According to data from World Population Prospects, by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). By 2050, one in four persons living in Europe and Northern America could be aged 65 or over. In 2018, for the first time in history, persons aged 65 or above outnumbered children under five years of age globally. The number of persons aged 80 years or over is projected to triple, from 143 million in 2019 to 426 million in 2050.

Since aging is associated with the physiological deterioration of bones, the cases of osteoporosis, osteoarthritis, fractures, and joint dislocation are expected to increase with growth in this demographic segment. According to Osteoporosis Canada, osteoporosis causes over 80% of all fractures in people aged 50 years and above. The increasing prevalence of target diseases owing to the growing geriatric population will contribute to the demand for bone densitometers in the coming years.

Rising Prevalence Of Kidney Disease

Kidney disease is one of the leading causes of death across the globe. The WHO estimates that approximately 195 million women worldwide are affected by kidney diseases. Chronic kidney disease (CKD) is the sixth-fastest growing cause of death. Around 1.7 million people are estimated to die annually because of acute kidney injury (AKI). CKD is more common in people aged 65 years or older (38%) than in those aged 45–64 (12%) or 18–44.

Of the 2 million people who receive treatment for kidney failure, a majority are treated in only five countries—the US, Japan, Germany, Brazil, and Italy. These five countries represent only 12% of the world population. Only 20% are treated in about 100 developing countries that make up over 50% of the world population. As kidney diseases lead to a decline in the bone mineral density in patients—leading to osteoporosis and osteopenia—their rising incidence can be considered a growth driver for the bone densitometers market.

Market Restraints: High Cost of Bone Densitometers

Dual-energy X-ray absorptiometry (DEXA) is a standard method for detecting bone mineral density. However, the cost of DEXA scanners is relatively high, which is one of the major factors limiting their adoption in developing countries. Typically, the cost of these products ranges from USD 9,180–199,000.

Most small and medium-sized hospitals with controlled budgets cannot afford these systems and instead prefer significantly lower-priced conventional systems. This is likely to limit the use of detectors in converting conventional analog systems to digital systems, which poses a major challenge to the market.

Furthermore, healthcare facilities that purchase such costly systems often depend on third-party payers (such as Medicare, Medicaid, or private health insurance plans) to get reimbursements for costs incurred in the diagnostic, screening, and therapeutic procedures performed using these systems. As a result, factors such as continuous cuts in reimbursements for bone density testing and diagnostic imaging scans and the increasing costs of these devices are preventing medium-sized and small healthcare facilities from investing in technologically advanced devices.

Market Opportunities: Growth Opportunities In Emerging Markets

Developing countries such as India, China, and Brazil offer significant growth opportunities for players operating in the bone densitometers market. The presence of a large target patient population, improving healthcare infrastructure, and growing healthcare awareness are some of the major factors expected to support market growth in these countries during the forecast period. To address the growing need for diagnosis and the detection of bone deformities & related diseases in these nations, governments are investing heavily in modernizing their healthcare systems.

Factors such as rising disposable incomes and healthcare spending in these emerging countries are also expected to increase the affordability of treatment procedures for bone diseases.

Market Challenges: Lack of Access to Diagnostics

Despite their high prevalence, the majority of bone diseases such as osteoporosis and osteopenia remain underdiagnosed and untreated. This can be observed in developing nations due to low or minimal awareness about these diseases, as well as the unavailability of adequate resources to diagnose these diseases. Osteoporosis develops slowly and is usually diagnosed in people over 65 years (and above 45 years in menopausal women).

While osteoporosis prevalence is particularly high in developing countries like India and China, there are a limited number of people diagnosed at an early stage. One of the reasons could be a lack of awareness of preventive healthcare and routine check-ups in these countries. Another factor is limited access to DEXA services.

Unfavorable Reimbursement Scenario

Although DEXA is considered the gold standard in measuring bone density, diagnosing osteoporosis, and helping prevent fractures, many physicians find it cost-prohibitive to offer this service in their private practice. Since 2007, the CMS has cut DEXA reimbursements in the private practice setting by more than 75%; the reimbursement rate dropped from USD 140 in 2007 to USD 42 in 2018. Owing to this, there has been a 50% decline in DEXA testing in the last decade.

Members of the American College of Radiology (ACR) have attended advocacy meetings in Washington, D.C., to support the Increasing Access to Osteoporosis Testing for Medicare Beneficiaries Act (H.R. 2693/S. 283). If passed, this would set the minimum for Medicare reimbursement at USD 98, which would ensure an increase in bone density testing. Although the CMS has raised the reimbursement rate for DEXA testing in hospital settings, the ACR is pushing for higher reimbursement rates in private practice settings as well.

Hospital Budget Cuts

In response to increasing government pressure to reduce healthcare costs, several healthcare providers have aligned themselves with group purchasing organizations (GPOs), integrated health networks (IHNs), and integrated delivery networks (IDNs). These organizations aggregate the purchasing volume of their members and bargain for a competitive price with suppliers and manufacturers of medical devices. GPOs, IHNs, and IDNs negotiate heavily for the bulk purchases of diagnostic imaging devices, dual-energy X-ray bone densitometers, and ultrasound bone densitometers.

Hospital budgets in some European countries were also reduced in the last couple of years and are expected to further decrease in the coming years. According to an article published in Libération (a French newspaper) in 2019, the French government planned to cut USD 3.9 billion (EUR 3 billion) from the country’s public hospital budget by 2021. Owing to these budget cuts, most hospitals cannot afford costly imaging devices and prefer lower-priced alternatives (such as refurbished devices) or to upgrade existing devices. To address this challenge, market players have to adopt suitable strategies to meet the needs of these hospitals.

The axial bone densitometry accounted for the largest share of the bone densitometer market in 2021

The axial bone densitometry segment dominated the bone densitometer market in 2021. The advantages of DEXA scanners over peripheral bone densitometers and greater accuracy are expected to drive the segment growth.

The osteoporosis & osteopenia diagnosis segment dominated this market with the largest share in 2021

The osteoporosis & osteopenia diagnosis accounted for the largest share of the global bone densitometer market in 2021 and is also expected to grow at the highest CAGR. Growing geriatric population and the subsequent increase in the prevalence of osteoporosis are driving the segment growth.  

The hospitals & specialty clinics segment accounted for the largest share of the bone densitometer market in 2021

The hospitals & specialty clinics segment accounted for the largest share of the global bone densitometer market in 2021. A majority of bone density scans are performed in hospitals due to the higher preference of patients for hospital-based treatment monitoring of diseases such as cystic fibrosis, chronic kidney disease, and osteoporosis, thus driving the segment growth.

Asia Pacific to grow at the fastest CAGR during the forecast period

Factors driving the demand in Asia Pacific are rising geriatric population coupled with the significant prevalence of bone-related diseases in this population segment, the increasing healthcare expenditure in APAC countries, and growing public awareness. Moreover, increasing localized product manufacturing and the focus of global product manufacturers on expanding their presence in APAC countries also contribute to market growth.

Some of the prominent players in the Bone Densitometer Market include: GE Healthcare (US), Hologic, Inc. (US), OSI Systems, Inc. (US), Diagnostic Medical Systems Group (France), Swissray Global Healthcare Holding, Ltd. (Taiwan), BeamMed, Ltd. (Israel), Echolight S.P.A (Italy), Scanflex Healthcare AB (Sweden), Medonica Co., Ltd. (South Korea), Eurotec Systems S.r.l (Italy), AMPall Co., Ltd. (South Korea), L’acn L’accessorio Nucleare S.R.L (Italy), Shenzhen XRAY Electric Co., Ltd. (China), YOZMA BMTech Co., Ltd. (South Korea), Nanoomtech Co., Ltd. (South Korea), Osteosys Corporation (South Korea), FURUNO Electric Co., Ltd. (Japan), Xianyang Kanrota Digital Ultrasound System, Co., Ltd. (China), XinGaoYi Co., Ltd. (China), Anjue Medical Equipment (China), Guangzhou Medsinglong Medical Equipment Co., Ltd. (China), Trivitron Healthcare (India), OsCare Medical Oy (Finland), CyberLogic, Inc. (US), and Nanjing Kejin Industrial Co., Ltd. (China).

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Bone Densitometer market

Bone Densitometer market , By Technology

• Axial Bone Densitometry
• Dual energy x-ray absorptiometry (DEXA)
• Quantitative computed tomography (QCT)
• Peripheral Bone Densitometry
• Quantitative ultrasound (QUS)
• Radiographic Absorptiometry (RA)
• Other Peripheral Bone Densitometry instruments

Bone Densitometer market , By Application

• Osteoporosis and osteopenia diagnosis
• Cystic fibrosis diagnosis
• Chronic kidney diseases diagnosis
• Body composition measurement diagnosis
• Rheumatoid arthritis diagnosis

Bone Densitometer market , By End User

• Hospitals & specialty clinics
• Diagnostic & imaging centers
• Other end users

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Points Covered in Bone Densitometer Market Study:

• Growth of Bone Densitometer in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Bone Densitometer and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Bone Densitometer Consumption Analysis
•  Bone Densitometer Production Analysis
•  Bone Densitometer and Management