Industry Insights
The global bone sonometers market size will grow by USD 325.97 million during 2019-2023 at a CAGR of almost 6%. The increasing number of people with orthopedic-related conditions and the technological advances in bone sonometers are some of the factors expected to drive market growth. This market report provides a detailed analysis of the market by product (stand-alone bone sonometers and portable bone sonometers) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including DMS Group, General Electric Co., Hitachi Ltd., Hologic Inc., and Swissray Global.
Bone sonometers are medical devices which are used to analyze the bone density of various bones in the human body, including the spine, hip, wrist, fingers, and heel.
Key Insights from Bone Sonometers Market – Global Forecast 2019-2023
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The rising demand for bone sonometers has encouraged market vendors to develop technologically advanced products which provide better imaging, help in risk factor analysis, and enable faster treatment and care. The incorporation of 3D technology in DXA bone sonometers has allowed physicians to get critical information on bone status such as bone geometry, cortical bone thickness, and BMD from 3D bone models. Vendors are also focusing on the development of portable bone sonometers that are smaller in size and can be utilized as a point-of-care diagnostic tool. These are cost-effective, easier to handle, and provide faster results and accurate predictions. Such technological advances will be critical bone sonometer market trends, which will positively influence the growth of the market.
The rising prevalence of orthopedic related conditions such as osteoarthritis, osteopenia, low bone density is also driving the demand. Women after menopause and older adults are more prone to osteoporosis than others. The awareness about osteoporosis diagnosis is rising because of campaigns conducted by various public and private organizations. Several countries are also providing favorable reimbursements to promote bone density testing and diagnosis. The adoption of bone sonometers for the early diagnosis of such orthopedic related conditions will help in reducing the cost burden of patients. The increasing number of aged people and people with orthopedic-related conditions will be a significant factor fueling bone sonometers market growth at a CAGR of almost 6% during the forecast period.
Industry Analysis
Quantitative Data
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Qualitative Data
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Product Insights
The product segment has been segregated into stand-alone bone sonometers and portable bone sonometers. The stand-alone bone sonometers segment accounted for the highest market share in 2018. During the forecast period, this segment will grow at a slower pace than the overall market. The portable bone sonometers segment will grow at a faster pace than the overall market.
The higher efficacy of stand-alone ones in terms of diagnosis will boost its adoption in various end-user facilities, including hospitals, specialized clinics, and specialized ASCs. The incorporation of advanced technology and the availability of favorable reimbursement policies are some of the other factors fueling bone sonometers market growth in this segment.
Regional Insights
North America accounted for the highest market share in 2018. Though the market’s growth in this region will be slower than the growth of the market in Asia and Europe, the region will account for the largest market share throughout the forecast period. The US is a key market for bone sonometers in this region.
Factors such as the increasing number of older adults, the rising number of new product launches, and the growing adoption of bone density screening tests are influencing the growth of the bone sonometers market in North America. The market growth in this region will also be affected by the availability of public and private insurance for bone density screening tests and strategic partnerships between vendors and distributors.
Top Bone Sonometer Companies
The market is fragmented. To help clients improve their market position, this market analysis report offers information on the market’s competitive landscape and the products offered by various companies. Moreover, this report also includes information on the upcoming market trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
The report offers a detailed analysis of several leading bone sonometers manufacturers, including:
- DMS Group
- General Electric Co.
- Hitachi Ltd.
- Hologic Inc.
- Swissray Global
Segments Covered in the Report
Bone sonometers market by product
- Stand-alone bone sonometers
- Portable bone sonometers
Bone sonometers market by region
- Asia
- Europe
- North America
- ROW
Key Highlights of the Bone Sonometers Market Forecast Report for the Period 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the bone sonometers size during the next five years
- Precise estimation of the global bone sonometer market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the bone sonometers industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of bone sonometers companies
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