BONE SONOMETER MARKET ANALYSIS

The global bone sonometer market is estimated to be valued at US$ 1,192.1 million in 2023 and is expected to exhibit a CAGR of 5.9% during the forecast period (2023-2030).

Analysts’ Views on Global Bone Sonometer Market:

Various purposes associated with bone sonometers is expected to propel market growth over the forecast period. For instance, bone sonometers are used for various purposes, which are mentioned below:

• Diagnosis of Osteoporosis: Bone sonometers are often used to diagnose osteoporosis by measuring the density of bones, particularly in the heel, shin bone, and kneecap.
• Monitoring Bone Density: Bone sonometers can be used to monitor changes in bone density over time, which can help in assessing the effectiveness of treatment for osteoporosis or other bone diseases.
• Screening Tool: Bone sonometers are sometimes used as a screening tool for osteoporosis, particularly in postmenopausal women who are at high risk of the disease.
• Research Studies: Bone sonometers are often used in research studies investigating bone health and diseases.
• Non-Invasive Test: The use of a bone sonometer is a non-invasive test, meaning it does not require any incisions or injections.

Figure 1. Global Bone Sonometer Market Share (%), By Portability, 2023

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Global Bone Sonometer Market– Drivers

• Increasing prevalence of Osteoarthritis (OA)The rising prevalence of osteoarthritis is expected to drive market growth over the forecast period. For instance, on May 22, 2023, according to the Centers for Disease Control and Prevention (CDC), over 32.5 million adults in the U.S. live with OA. Globally, OA affects more than 500 million people, which is around 7% of the world's population every year.

Rising Healthcare Expenditure

• One of the significant factors influencing the growth rate of the bone sonometer market is the growing healthcare expenditure, which helps in improving its infrastructure. For instance, according to the International Health Care System of the U.S., in June 2020, U.S. government organizations aim to improve the healthcare infrastructure by increasing funding, setting legislation and national strategies, and cofounding and setting basic requirements and regulations for the Medicaid program.
• Furthermore, in December 2022, according to a report published by the Centers for Medicare & Medicaid Services, U.S. health care spending grew 2.7% in 2021, reaching US$ 4.3 trillion, or US$ 12,914 per person, while, as a share of the nation's gross domestic product, health spending accounted for 18.3%.
• Similarly, in November 2022, the Canadian Institute for Health Information reported that the total health spending in Canada was US$331 billion in 2022, or US$ 8,563 per Canadian, while health expenditure represented 12.2% of Canada's gross domestic product (GDP) in 2022, following a high of 13.8% in 2020.

Figure 2. Global Bone Sonometer Market Share (%), By Region, 2023

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Global Bone Sonometer Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global bone sonometer market over the forecast period. North America is estimated to hold 33.5% of the market share in 2023. The global bone sonometer market is expected to witness significant growth in the coming years, owing to the increasing prevalence of various bone disorders such as rheumatoid arthritis and others, which is expected to propel the market growth over the forecast period. For instance, on January 28, 2023, according to a report published by the World Health Organization, in 2020, 18 million people worldwide were living with rheumatoid arthritis, while approximately 70% of people living with rheumatoid arthritis were women, and 55% were older than 55 years.

Global Bone Sonometer Market– Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
• COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems with the transportation of things from one place to another.
• The supply chain and manufacturing activities in India, China, the U.S., and other countries have been disrupted due to lockdown, while countries such as Thailand, Indonesia, and Singapore have faced problems with regards to the transportation of drugs and medical devices.
• Thus, the impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global bone sonometer market during the forecast period, owing to the decrease in production and supply of the drugs during the pandemic.

Global Bone Sonometer Market Segmentation:

The global bone sonometer market report is segmented into portability, extremity, technology, application and end user.

• By portability, the market is segmented into stationary and portable. Out of which, the portable segment is expected to hold a dominant position in the global bone sonometer market during the forecast period, as portable bone sonometers are typically small and portable, making them convenient for use in various settings, including clinics, hospitals, and health fairs.
• By extremity, the market is segmented into axial bone sonometry and peripheral bone sonometry. Out of which, the axial bone sonometry segment is expected to hold a dominant position in the global bone sonometer market during the forecast period, and this is attributed to various reasons, such as its provides comprehensive analysis: Axial bone sonometry, which measures bone density in the hip and spine, provides a more comprehensive analysis of overall skeletal health. These sites are most likely to be affected by osteoporosis and are more predictive of a future fracture. On the other hand, Axial bone sonometry is often considered the 'gold standard' for diagnosing osteoporosis. The World Health Organization's diagnostic criteria for osteoporosis are based on measurements of bone density in the hip and spine obtained through axial bone sonometry.
• By technology, the market is segmented into Dual Energy X-Ray Absorptiometry (DEXA), Ultrasound, Quantitative Computed Tomography (QCT), Quantitative Ultrasound (QUS) and Others (Peripheral Quantitative Computed Tomography (pQCT)). Out of which, Dual Energy X-Ray Absorptiometry (DEXA) segment is expected to dominate the market over the forecast period, as Dual Energy X-Ray Absorptiometry (DEXA) is the most commonly used technology to study bone density measurement technology
• By application, the market is segmented into osteoporosis (osteopenia diagnosis and fracture risk assessment, body composition measurement, RA & osteoarthritis diagnosis & prognosis, pediatric applications and others (Orthopedic & Rheumatologic Assessments). Out of which, osteoporosis segment is expected to dominate the market over the forecast period, owing to prevalence of osteoporosis (Osteoporosis is a common disease, especially among older adults, and its prevalence is increasing as the population ages)
• By end user, the market is segmented into hospitals, specialty clinics, diagnostic centers, ambulatory surgical centers, research institutions, and others (physician offices). Out of which, hospitals segment is expected to dominate the market over the forecast period, and this is attributed to the rising number of hospitals globally, which will subsequently demand the need for hospital pharmacies.
• Among all the segmentation, the portability segment is expected to dominate the market over the forecast period, and this is attributed to the increasing research and development activities.

Global Bone Sonometer Market- Cross Sectional Analysis:

The hospitals sub segment is dominating in North America owing to the increasing number of hospitals in the region, as they are much more affordable for  patients, which, in turn, is expected to propel market growth over the forecast period. For instance, in March 23, 2023, according to the American Hospital Association, the total number of all U.S. hospitals are 6,129 as of march 2023, with 5,157 community hospitals.

Global Bone Sonometer Market: Key Developments

• In April 2022, the International Osteoporosis Foundation announced that they had initiated LiftOffForBoneHealth, a new online public awareness campaign in cooperation with the European Space Agency (ESA), and celebrated ESA astronauts.
• In January 2021, Osteoporosis Canada, a national organization, serving affected people in Canada, launched a new awareness campaign in November 2021 for Osteoporosis Month named Break the Myths, Not Bones. The motive of this awareness is to break the myths associated with osteoporosis. According to the same source, it is estimated that the disease has nearly affected 2 million Canadians.

Global Bone Sonometer Market: Key Trend

• Rising Number of Awareness Campaigns : Increasing initiatives such as awareness campaigns and others for patients suffering from sarcopenia are expected to boost market growth over the forecast period. For instance, on August 23, 2023, the U.S. Department of Health and Human Services, Office on Women’s Health (OWH) announced the launch of a new nationwide campaign, “Stronger than Sarcopenia,” to raise awareness of sarcopenia in women, a condition characterized by loss of muscle mass, strength, and function in adults 65 and older. Sarcopenia can significantly decrease a person’s quality of life and lead to other health problems, including an increased risk of debilitating falls and fractures.

Global Bone Sonometer Market: Restraint

• Disadvantages associated with Dual-energy X-ray Absorptiometry (DXA, previously DEXA) used in Bone Sonometer: Disadvantages associated with the dual-energy X-ray absorptiometry (DXA, previously DEXA) used in bone sonometer is expected to hinder market growth over the forecast period.  For instance, in March 2022, according to a report published in the National Center for Biotechnology Information, various risks of dual-energy X-ray absorptiometry (DXA, previously DEXA) were mentioned below:
  • There is always a slight chance of cancer from excessive exposure to radiation
  • Women should always inform their radiologist if there is any possibility that they could be pregnant.
  • The effective radiation dose for this procedure varies.
• Counterbalance: To avoid these kinds of risks, patients must inform the radiologist of all their historic medical background to avoid further complications.

Global Bone Sonometer Market - Key Players

Major players operating in the global bone sonometer market include GE Healthcare, Hologic Inc., Furuno Electric, Osteosys, DMS Imaging, Swissray International Inc., BeamMed Ltd., Scanflex Healthcare (Demetech AB), Osteometer Meditech, Xianyang Kanrota, L’can, BM Tech, Lone Oak Medical Technologies, Medilink, Osteosys Co. Ltd., AMPall Co., Ltd, Lone Oak Medical Technologies LLC and Medi-cal Diagnostic

*Definition: Bone sonometer is also called bone densitometry equipment, in which sound waves in interaction with bone tissue give information about the elastic and structural properties of tissue. Bone faces slow degradation over a period of time by microscopic fracture, fatigue damage, loss of bone mass with aging, or nutritional deficiency at birth. By assessing bone health, bone sonometer can predict the risk for osteoporosis and fracture due to this condition. Various peripheral skeletal sites that can be assessed with bone sonometer include calcaneus, phalanges of the hand, and tibia. In addition, it can also assess the structural and biomechanical properties of bones that contribute to bone strength. The bone sonometer is a comparatively safer technique against other densitometry equipment such as dual energy X-ray absorptiometry and peripheral quantitative computed tomography, which cause exposure to ionizing radiation. It is also simple to use and easy to move due to its portability features. Moreover, a bone sonometer measures bone in two dimensions, providing only an estimation of bone density. It is used to check mineral status in all age groups, including children, adults, and the geriatric population.