Global Bone Scan Market Players, Opportunities and Forecast Analysis to 2032
The Bone Scan Market is expected to reach USD 45.11
Billion by 2032 at 4.1% CAGR during the forecast period 2023-2032.
From the last few
years, the radioactive imaging market has been growing rapidly due to the
extensive use of radiology imaging devices. A bone scan is used to determine
the bone fractures if any as well as to diagnose various diseases related to
the bone such as arthritis and bone cancer. MRI, X-ray, PET, SPECT scan are
used for bone scanning. A radioactive material is injected into the body
through the vein near the arm before performing the bone scan.
Rising prevalence
of chronic diseases such as rheumatoid arthritis, diabetes, and other diseases,
extensive demand for the treatment of bone scan, and increasing number of
orthopedic or joint replacement centers stimulate the growth of the market.
Additionally, increasing demand for diagnostic devices as well as the
concentration of key players in the region is boosting the growth of the market
both in developing and developed regions across the world. However, the
accuracy of the bone scan and its inability to correctly determine the disease
condition may hamper the market growth during the review period.
Major Key
Players:
The prolific contenders in the Key Market
Players are Siemens (U.S.), Hitachi, Ltd. (Japan), Carestream
Health, Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Toshiba
Corporation. (Japan), Koninklijke Philips N.V. (Netherlands), and General
Electric Company (U.S.).
Segment Analysis
The global bone scan market is segmented on the basis
of product, application, and end user
On the basis of the products, the market is segmented
into radiopharmaceuticals and imaging devices. The imaging devices are further
segmented into Magnetic Resonance Imaging
(MRI), X-ray, Computed Tomography Scan (CT scan),
Single-Photon Emission Computerized Tomography (SPECT), and others.
On the basis of the application, the market is
segmented into fractures, arthritis, Paget's disease of bone, cancer
originating in bone, and others.
On the basis of the end user, the market is segmented
into hospitals, clinics, diagnostic centers, and others.
Regional Analysis
Europe is the second largest bone
scan market across the globe owing to the rising prevalence of rheumatoid
arthritis and obesity in European countries and availability of funds for
research and development activities. According to the World Health Organization
(WHO), in European Union countries, nearly 30%-70% of the population is obese.
The Asia Pacific market is
expected to grow at the fastest pace owing to rising geriatric population and
high prevalence of chronic diseases such as diabetes and obesity. Diabetes is
one of the major problems in the Asia Pacific region, which is further creating
opportunities for the market growth. According to the International Diabetes
Foundation, 98.4 million and 65.1 million diabetic population live in China and
India respectively.
The Middle East & Africa also
shows a steady rise in the market owing to the increasing prevalence of
diabetes and other chronic diseases. In the Middle East, the U.A.E is the largest
market followed by Saudi Arabia.
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