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Bone Densitometers Market to touch US$1.11 billion by 2024 - Transparency Market Research

Global Bone Densitometers Market to Expand with a CAGR of 3.10% due to Growing Need for Early Detection of Bone Diseases

Albany, New York, Dec. 14, 2018 (GLOBE NEWSWIRE) -- According to report from TMR, the global bone densitometers market valued at US$0.84 bn in 2015 and is projected to attain a valuation of US$1.11 bn by the end of 2024. The market is anticipated to expand with a CAGR of about 3.10% over the forecast period from 2016 to 2024. Based on the end-user, the hospital segment dominated the global bone densitometers market in the year 2015 by accounting for 60% of share in the revenue of the overall market. Regionally, in 2015, North America dominated the global bone densitometers market by accounting the 44% shares in the revenue of the overall market.

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Growing Bone Diseases to Lead Boost Adoption of Bone Densitometers across Numerous Hospitals

Bone densitometers help to measure the density of bones by using X-ray and other detection tools for early detection of diseases such as osteopenia and osteoporosis. Low bone density shows the presence of weak bones, which can lead to serious fractures or bone dislodgement. Growing incidences of bone dislodgement or bone diseases are boosting the need for the novel treatment and effective techniques for early detection of weakening bones. This factor is boosting the adoption of bone densitometers across numerous healthcare suppliers and likely to propel the growth of the global bone densitometers market.

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 Changing eating habits and sudden changes in the lifestyles owing to growing disposable income is leading to bone weakening, which in turn, is boosting adoption of bone densitometers. This is another important factor propelling the growth of the global bone densitometers market.

Additionally, growing investment by numerous hospitals and healthcare providers is boosting the adoption of the bone densitometers and likely to propel the growth of the global bone densitometers market. Furthermore, the factors such as growing geriatric population coupled with rising advancement in the product are influencing positively and are driving the growth of the global bone densitometers market.

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Sluggish Manufacturing Rate to Limit Growth

Despite the growth opportunities, the late delivery by manufacturers due to the sluggish manufacturing process of bone densitometers is leading to limit demand to some extent and likely to restrain the growth of the global bone densitometers market. Nonetheless, growing government support in numerous countries for improving adoption is offering beneficial opportunities for growth over the forecast period.

Transparency Market Research (TMR) observes the global bone densitometers s market has a highly competitive vendor landscape. Some of the key players operating in the market are GE Healthcare, Hitachi, Ltd., Beammed, Lone Oak Medical Technologies LLC, and Osteometer Meditech Inc. Additionally, growing entry of new players in the market is leading to fragmented vendor landscape. These new players are increasingly investing in product development, marketing, and promotional activities. However, owing to the growing to brand loyalty, the position of large players is likely to remain unmoved over the forecast period. Additionally, the key players are increasingly taking initiatives for business expansion and expanding geographical reach, which is fuelling growth of the global bone densitometers market. 

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This information is encompassed in the new report by TMR, titled “Bone Densitometers Market (Technology - Axial Bone Densitometry (Dual Energy X-Ray Absorptiometry and Quantitative Computed Tomography) and Peripheral Bone Densitometry (Single Energy X-Ray Absorptiometry, Peripheral Dual Energy X-Ray Absorptiometry, Radiographic Absorptiometry, Quantitative Ultrasound, and Peripheral Quantitative Computed Tomography); End User - Hospitals, Diagnostic Centers, and Specialty Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”          

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About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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