Bone Sonometer Market By Equipment (Standalone and Portable), By End User (Ambulatory Surgical Centers, Specialty Clinics and Hospitals) - Growth, Future Prospects & Competitive Analysis, 2019 – 2027

Industry Outlook

The bone sonometer market is set to grow from US$ 890.2 million in 2018 to US$ 1,428.9 million by 2027, expanding at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2019 to 2027. As per the latest research findings brought forward by the International Osteoporosis Foundation (IOF) in 2017, approximately 8.9 million fractures associated with osteoporosis were recorded throughout the globe. The looming threat of malnutrition and a significant rise in the geriatric population will propel the bone sonometer market's growth in the near future.

Market Synopsis

Low maintenance cost and the capability to perform scanning of a large inpatient population together increase the demand for standalone bone sonometers.

In the current situation, the standalone bone sonometer market is reigning supreme. The primary factors fortifying its market growth are the low maintenance costs associated with the instrument and its accessories and its capability to scan a large inpatient population, which increases its demand in hospitals and specialty clinics. Portable bone sonometers are gaining huge traction owing to the latest product innovation and their ability to be connected with various digital platforms, thereby finding their utility in ambulatory surgical centers.

Installation of the latest bone density measurement devices and proactive government funding together drive the hospital market's growth.

Hospitals occupy the largest market share in the end-user segment of the bone sonometer market. The major factors contributing to its supreme market growth are the installation of the latest bone density measurement devices and proactive government funding. Ambulatory surgical centers are gaining tremendous demand owing to a significant rise in the number of outpatient populations and an untapped patient population in the farthest remote areas.

Rising prevalence of osteoporosis and increasing public health awareness together drive the market growth in North America.

North America is the dominant regional segment for the bone sonometer market, representing a market share of 31.8%. The major aspects determining its market growth are the rising prevalence of osteoporosis and increasing public health awareness. As per the latest research cited by the National Osteoporosis Foundation (NOF), approximately 10 million Americans are suffering from osteoporosis, and 44 million suffer from low bone density, thereby increasing their risk of being diagnosed with osteoporosis in the near future. Europe holds a market share of 27.5% on account of low bone density in the adult female population. According to the statistics presented by the International Osteoporosis Foundation (IOF), 1 in 3 women over 50 will suffer a fracture in their lifetime. A supportive regulatory environment provided by the European Medical Agency (EMA) for the sale of bone sonometers will further boost the market's growth. It is anticipated that Asia Pacific, which currently accounts for 16.9% of the market share, will register rapid growth in the near future owing to the looming threat of malnutrition due to a daily diet deficient in vitamin D and calcium.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The market is segmented by equipment, end user, and geography.

Medical device manufacturers engaged in the production of bone sonometers 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 questions are answered in this report.

• What are the organic and inorganic market strategies adopted in the market assessment of the bone sonometer market?
• Which medical device manufacturers are actively engaged in the production of devices utilized in the measurement of bone density?
• What is the global prevalence rate of osteoporosis?
• Which factors will propel the ambulatory surgical centers market's growth in the near future?
• What will be the market performance of the Asia-Pacific region during the forecast period?

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