The latest market report published by Credence Research, Inc. “Global Bone Sonometer Market – Growth, Future Prospects, Competitive Analysis, 2019- 2027,” the global bone sonometer market is expected to reach from US$ 890.2 Mn in 2018 to US$ 1,428.9 Mn by 2027 expanding at a CAGR of 5.5% from 2019 to 2027.
International Osteoporosis Foundation (IOF) is of the opinion that 1 in 3 women and 1 in 5 men will suffer from osteoporosis-related bone fracture during their lifetime. The major risk factors associated with low bone density are vitamin D and calcium-deficient diet, incessant alcohol consumption and sedentary lifestyle. Constant rise in geriatric population and product innovation together drive the bone sonometer market growth.
Standalone bone sonometer is occupying the largest market share in the equipment segment for bone sonometer market. The major features bolstering its market growth are capability to scan large inpatient population, increasing demand from hospitals and specialty clinics and low maintenance cost associated with the instrument & its accessories. Portable bone sonometer will be growing at a rapid pace in the near future due to addition of latest ergonomic features to the preexisting bone density measuring devices. It is gaining huge traction from ambulatory surgical centers on account of its ability to get connected with various digital platforms to perform accurate diagnosis.
Hospitals are the dominating end-user segment for bone sonometer market. The key indices determining its prosperous market growth are proactive government funding in the installation of latest devices measuring bone density and significant rise in malnutrition associated osteoporosis throughout the globe. Ambulatory surgical centers are keen to register excellent market growth during the forecast period on account of significant rise in the number of outpatient population and untapped patient population in the far-flung remote areas.
North America with a market share of 31.8% currently spearheading the regional segment for bone sonometer market. The chief parameters responsible for its market growth are rising prevalence of osteoporosis and increasing public health awareness. According to the research findings of Center for Disease Control and Prevention (CDC), in the United States 25% of the women population above 65 years of age suffer from hip fracture due to osteoporosis. Europe is in the 2nd position representing a market share of 27.5% owing to deficiency of vitamin D in daily diet causing osteoporosis. According to the statistics presented by International Osteoporosis Foundation (IOF) 1in 3 women above 50 years will suffer from fracture in their lifetime. Asia Pacific is presently holding a market share of 16.9% on account of supportive regulatory environment provided by local healthcare agency and proactive government policies in fighting malnutrition associated osteoporosis.
Medical device manufacturers engaged in the production of bone sonometer market are DMS Imaging, BeamMed Ltd., Echolight S.p.A., Furuno Electric Co., Ltd., GE Healthcare, Hologic, Inc., Lone Oak Medical Technologies LLC., Medilink, Osteosys Co., Ltd. and Osteometer Meditech, Inc.
Key Market Movements:
- Growing incidence of malnutrition associated osteoporosis throughout the globe
- Rising geriatric population and latest product innovation will provide impetus to the bone sonometer market growth
- Increasing public health awareness and proactive government policies to fight bone and musculoskeletal disorders worldwide
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