Global Bone Sonometer Market to surpass US$ 1.2 Billion by 2026 – Coherent Market Insights
Seattle, Nov. 21, 2018 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global bone sonometer market is estimated to be valued at US$ 864.3 million in 2017, and is projected to exhibit a CAGR of 5.32% over the forecast period (2018 – 2026).
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Key Trends and Analysis of the bone sonometer market:
Bone sonometer is viable alternative to dual X-ray absorptiometry equipment as it does not use of radiation, therefore it can be applied to assess bone health of even neonates and pediatric population. It is especially used to assess the bone density in peripheral skeletal sites such as calcaneus, phalanges of the hand, and tibia. This equipment has long been introduced into the market, however recently there is growth clinical data and documents that presents comparable profile of bone sonometer with X-ray absorptiometry equipment is creating higher use of this equipment amongst its end users.
Increased incidence of osteoporosis amongst elderly population and subsequent fracturing creates huge economic burden over healthcare insurance provider. Therefore, preventive bone health approaches are rapidly getting adopted amongst patients by assessing bone mineral density. According to International Osteoporosis Foundation statistics in 2012, over 8.9 million fractures are caused due to osteoporosis, annually. Furthermore, around 200 million postmenopausal women suffer from osteoporosis, globally. According to the same source, one in three women over 50 years of age will experience osteoporotic fractures, as compared to one in five men aged over 50 years, worldwide in the coming decade. Nutritional deficiency amongst newborn and children increases risk of osteoporosis, therefore assessing bone health in this age group would reduce this condition.
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Key Market Takeaways:
- The bone sonometer market is expected to exhibit a CAGR of 5.32% during the forecast period (2018– 2026), attributed to increased incidence rate of osteoporosis across all age groups, especially amongst geriatric population
- Market growth is attributed to increasing fracture incidence, awareness about preventive bone health, as well as new innovative bone sonometer products launched into market by key players, which are compact, easy to use and economic
- Some of the major players operating in the global bone sonometer market include Hologic, Inc., GE Healthcare, Echolight, DMS Imaging, Osteocys Co. Ltd., BeamMed Ltd., Medilink, and Furuno Electric Co., Ltd.
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