Osteoporosis Testing Market Share, Segment and Gross Margin Analysis Up to 2028
Osteoporosis testing is a type of procedure that allows physicians/rheumatologists to examine bone density in the outpatient clinic. Osteoporosis is a disease identified by thinning and deterioration of bone tissue with loss of calcification and density.
[UKPRwire, Wed Jul 31 2019] Growing number of incidence of Osteoporosis are driving the growth of Osteoporosis testing market. Rapid turnaround time, lower cost of procedure over conventional methods also fuel the growth of Osteoporosis testing market. Also, the varied application of Osteoporosis testing procedures in analyzing/tracking bone density and increasing adoption in a routine check of Osteoporosis is harnessing the growth of Osteoporosis Testing Market.
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Osteoporosis testing is a type of procedure that allows physicians/rheumatologists to examine bone density in the outpatient clinic. Osteoporosis is a disease identified by thinning and deterioration of bone tissue with loss of calcification and density. Osteoporosis can increase over time. This can cause the bone to become brittle and increasingly porous. Women and older adults are more at risk of being affected by osteoporosis. Heredity, low body weight, and chronic use of certain medications (steroids) may also risk factors for the disease. Lifting, bending, bumping, sneezing can also cause a bone to break in people affected by osteoporosis. Osteoporosis testing helps to estimate the density of bones and the chances of breaking a bone. Osteoporosis testing check the bone density, physicians usually refer to bone densitometer. Bone loss can occur because of different disorders, including rheumatoid arthritis, hyperparathyroidism, chronic kidney disease, multiple myeloma or drugs such as anti-epileptics and glucocorticoids.
Osteoporosis testing is a technological integration of existing bone densitometer or scanning techniques have further reduced the risk associated with kyphoplasty or vertebroplasty procedures. However, potential side effects associated with the kyphoplasty or vertebroplasty procedures such as nosebleed, fainting, blood pressure fluctuation or reactions due to the anesthesia would hamper the adoption rate. Lack of awareness between joint pain and osteoporosis and limitations of DEXA leads to restrains the osteoporosis testing market.
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According to the International Osteoporosis Foundation, globally, 8.9 million people suffer from fractures annually because of osteoporosis. Approximately one-tenth of 60-year-olds, one-fifth of women aged 70, two-fifths of 80-year-old women and two-thirds of women aged 90. Osteoporosis affects an estimated 75 million people in Europe, North America and Japan. Increasing number of patients have been visiting for osteoporosis testing, and its growing demand exhibits lucrative growth opportunity for companies investing in this market.
Geographically, Osteoporosis testing market is segmented into regions viz. North America, Europe, Asia-Pacific excluding Japan, Middle East and Africa and Japan. North America & Europe region exhibits a healthy growth in terms of revenue due to increased awareness of checking osteoporosis as a part of routine checkup. The lower cost of the procedure compared with other alternative treatment and low risk associated with the procedure is boosting the growth of osteoporosis testing market. The developing cluster of North America, Asia, and Africa region is likely to gain momentum in late 2020. Patient population suffering from osteoporosis testing are mostly prescribed with alternative medicine treatment in the region, which results in chronic side effects due to treatment.
Some of the players identified in the Osteoporosis testing market include GE Healthcare, Merck & Company, B.M.Tech. Worldwide Co. Ltd, DMS Imaging, Swissray, Hologic Inc. Pfizer Inc., CompuMed, Inc., Eli Lilly and Company
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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