Industry Outlook
The bone sonometer market is set to reach from US$ 890.2 Mn in 2018 to US$ 1,428.9 Mn 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. Looming threat of malnutrition and significant rise in geriatric population will propel the bone sonometer market growth in the near future.
Market Synopsis
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"Low maintenance cost and capability to perform scanning of large inpatient population together increase the demand for standalone bone sonometer market"
In the current situation, standalone bone sonometer market is reigning the market. The primary factors fortifying its market growth are low maintenance cost associated with the instrument & its accessories and capability to scan large inpatient population increases its demand in hospitals and specialty clinics. Portable bone sonometer is gaining huge traction owing to latest product innovation and ability to be connected with various digital platforms thereby finding its utility in ambulatory surgical centers.
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"Installation of latest bone density measurement devices and proactive government funding together drive the hospitals market growth"
Hospitals occupy largest market share in the end-user segment for bone sonometer market. The major factors contributing towards its supreme market growth are installation of latest bone density measurement devices and proactive government funding. Ambulatory surgical centers are gaining tremendous demand owing to significant rise in the number of outpatient population and untapped patient population in the far lung remote areas.
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"Rising prevalence of osteoporosis and increasing public health awareness together drive the market growth in North America"
North America is the dominating regional segment for bone sonometer market representing a market share of 31.8%. The major aspects determining its market growth are rising prevalence of osteoporosis and increasing public health awareness. As per the latest research citing of National Osteoporosis Foundation (NOF), approximately 10 million Americans are suffering from osteoporosis and 44 million sufferings with 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 adult women population. According to the statistics presented by International Osteoporosis Foundation (IOF) 1in 3 women above 50 years will suffer with fracture in their lifetime. Supportive regulatory environment provided by European Medical Agency (EMA) for the sale of bone sonometer will further boost the market growth. It is anticipated that Asia Pacific which currently accounts for 16.9% market share will register rapid growth in the near future owing to the looming threat of malnutrition due to daily diet deficient in vitamin D and calcium.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The market segmentation comprises of by equipment, end user and geography.
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
By Equipment (2017–2027; US$ Mn)
• Standalone
• Portable
|
|
By End User (2017–2027; US$ Mn)
• Ambulatory Surgical Centers
• Specialty Clinics
• Hospitals
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (China, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East and Africa (GCC, Rest of MEA)
|
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 questions answered in this report
- What are the organic and inorganic markets strategic adopted in the market assessment for bone sonometer market?
- Which medical device manufacturers are actively engaged in the production of devices utilized in measurement of bone density?
- What is the global prevalence rate of osteoporosis?
- Which factors will propel the ambulatory surgical centers market growth in the near future?
- What will be the market performance of Asia Pacific region during the forecast period?
