Award winning market research company Fact.MR is conducting a study on the global osteoporosis testing market for the upcoming decade. As per its findings, the market is poised to witness credible gains across 2021, as the frequency of chronic bone diseases witness an escalating trend. Rising prevalence in different disorders such as rheumatoid arthritis, hyperparathyroidism, chronic kidney disease causing bone loss and osteopenia, providing an impetus to osteoporosis testing.
According to the study, lower cost of procedure and increased adoption in osteoporosis testing to provide a further boost to the demand. The U.S study of frequency of bone disease 2020 estimates, underpinned by the ageing population, the prevalence of osteoporosis and osteopenia was recorded to nearly 14 million cases of osteoporosis and over 47 million cases of low bone mass. Acknowledging the burden, the government incorporated various awareness campaign for osteoporosis testing, thus aiding the growth.
Furthermore, the study shows North America and Europe to emerge as the fastest growing and most lucrative market backed by the increasing number of patients visiting for osteoporosis testing. For instance, according to osteoporosis foundation by 2050, worldwide incidence of hip fracture in men is projected to rise by 310% and 240% in women. Hence, market players are investing in osteoporosis testing industry creating growth opportunities.
“Increasing number of chronic bone diseases and rising demand from the healthcare sector for advanced procedure, thereby widening the revenue prospects for key players operating within the market,” says the Fact.MR analyst.
Request Brochure at https://www.factmr.com/connectus/sample?flag=B&rep_id=1219
Key Takeaways
- By product type, Dual energy x-ray absorptiometry (DEXA) expected to emerge as a lucrative segment, followed by FRAX tool
- North America and Europe to collectively exhibit healthy growth
- Asia Pacific to emerge as a potential market through 2021 and beyond
- Breakthroughs in testing procedures expected to accelerate growth prospects across U.S.
- Hospitals is anticipated to emerge as highly sought after end-user, attributed to the increased number of patients visiting for osteoporosis testing
Prominent Drivers
- Fast reversal time and low cost procedure to boost the demand
- Diverse application of osteoporosis testing procedures in tracking bone density to create growth prospects
- Increasing cases of osteopenia is increasing bone tissue deterioration, bolstering osteoporosis testing prospects
Key Restraints
- Lack of awareness between joint pains and osteoporosis and limitation to DEXA to hinder the growth
- Potential side effects such as nosebleed, blood pressure fluctuations associated with the procedure to hamper the adoption rate
Request more information about Report Customization: https://www.factmr.com/connectus/sample?flag=RC&rep_id=1219
Competitive Landscape
GE Healthcare, Merck & Company, B.M.Tech Worldwide Co. Ltd., DMS Imaging, Swissray, Hologic Inc., Pfizer Inc., CompuMed Inc., and Eli Lilly & Company are some of the key players profiled by Fact.MR. According to the study, the market is fragmented in nature and key players are focusing on strategies like mergers and acquisition for future growth prospects.
For instance, in February 2021, Hologic acquired Biotheranostics, enabling entry into growing oncology market for approximately US$ 230 million.
In September 2020, U.S. FDA approved Pfizer’s XELJANZ® (TOFACITINIB) for the treatment of children with active polyarticular course juvenile idiopathic arthritis (pcJIA). However in January 2021, Pfizer shared the results to be negative and the criteria were not met for rheumatoid arthritis (RA).
More Insights on the Osteoporosis testing Market
In its latest report, Fact.MR offers unbiased analysis of the global osteoporosis testing market. The report divulges essential insights on osteoporosis testing market on the basis of product type (dexa-scan, FRAX tool, CT scans, X-rays, Ultrasounds), end-user (hospitals, orthopedics clinic, and ambulatory surgical centers), and regions (North America, Latin America, Europe, Japan, APEJ, and Middle East and Africa)
Explore Fact.MR’s Coverage on the Healthcare Domain
Preimplantation Genetic Testing Market: A recent study by Fact.MR on the Preimplantation Genetic Testing market offers an unbiased analysis on the opportunities and challenges for the forecast period. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players.
Rift Valley Fever Testing Market: Fact.MR has published a new study to elucidate the potential growth parameters of the Rift Valley Fever Testing market. The study has been authored by a team of seasoned analysts who studied various geopolitical, macro and microeconomics, and sociological factors that can influence the growth of the market in order to reach valuable and reliable conclusions.
Nipah Virus Testing Market: Fact.MR’s expansive nipah virus testing market report sheds light on the prominent dynamics expected to shape future growth. The study explicates on the prominent drivers, opportunities and trends prevailing across key segments in prominent geographies. Also, information regarding prominent manufacturers has been embedded in the report.
About Us:
Fact.MR Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com
