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Forecast on Bone Densitometers Market for the Period 2016 - 2024
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As per the forecast figures calculated by TMR, the global bone densitometers market has been projected to gain an around US$1.11 bn by 2024 from US$0.84 bn in 2015. The analysts have estimated a CAGR of 3.10% for the forecast timeframe 2016–2024. According to technology, the market for axial bone densitometry could stay dominant in future, considering its larger share of an over 65.0% in 2015. North America has been envisioned to finish at the top of the table by the concluding forecast year after registering an approximate 44.0% share in 2015.
The authors of a recent TMR report have foreseen the world bone densitometers market to witness a staggering growth to take shape on the back of a rising need to accurately diagnose various types of bone disorders. The rising count of patients suffering from bone-related diseases such as deficiency of vitamin D and arthritis has been prophesied to augur well for the demand for bone densitometers. This could optimistically impact the growth of the market in the near future. A substantial degree of demand has been envisaged to be witnessed in the market as the incidence of osteoporosis in postmenopausal females sees a surge besides the growth of geriatric population.
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More opportunities have been predicted to take birth in the world bone densitometers market with the emergence of portable devices and developing preference for cost containment measures. Emerging markets such as India, Japan, Brazil, and China could create prospects in future with the increasing recognition and availability of bone densitometers and their technological development. India has been expected to be a prominent Asia Pacific market, considering its increasing public and private investments in life sciences research.
During their tenure in the international bone densitometers market, players could find challenges in the form of restricted access to diagnostic tools and equipment in remote locations. However, the magnifying awareness among end users about the benefits of early diagnosis of diseases has been prognosticated to bring up favorable prospects in the market. North America could contribute at a handsome rate in the market while riding on the presence of promising reimbursement policies for diagnosing osteoporosis. One of the trends that has been anticipated to benefit the market is the emergence of hospitals as a prominent diagnostic and devices hub for bone densitometers. However, there could also be opportunities arising from the high-paced growth of diagnostic centers boasting of well-equipped infrastructure, access to various medical facilities, and an elevating preference from patients.
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