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The Bone Scan market is closely influenced by the growing incidence of bone-related disorders consisting of fractures, metastatic bone cancer, and degenerative bone illnesses. As those conditions require accurate diagnostic tools, bone scans play an important role in the early detection and tracking of bone abnormalities. Technological improvements in imaging, especially nuclear medicine, affect the Bone Scan market. Improved resolution, reduced experiment instances, and better sensitivity contribute to the developing adoption of Bone Scans as a dependable diagnostic modality. The growing occurrence of osteoporosis, mainly in the aging population, drives the demand for bone scans. These scans resource the assessment of bone mineral density, facilitating early intervention and preventive measures for people at risk of fractures because of osteoporosis.
The market dynamics are stimulated through the diagnostic accuracy and sensitivity of Bone Scans. Continuous efforts to enhance imaging technologies and interpretation accuracy contribute to the reliability of Bone Scans, making them a preferred diagnostic tool for clinicians. Patient choices for non-invasive diagnostic processes make contributions to the recognition of Bone Scans. The market is shaped by the demand for imaging techniques that offer treasured diagnostic facts without the need for invasive approaches. The integration of Bone Scans with hybrid imaging technology, which includes Single Photon Emission Computed Tomography/computed tomography (SPECT/CT) and positron emission tomography/computed tomography (PET/CT), complements diagnostic capabilities. This integration influences market traits, providing more complete diagnostic records.
The market benefits from the incorporation of Bone Scans into routine screening protocols for high-danger corporations. Individuals with a history of cancer, continual kidney disorder, or certain metabolic issues undergo Bone Scans for early detection and control of bone-associated headaches. The Bone Scan market is prompted by using compensation policies and healthcare budgets. Access to Bone Scans can be impacted with the aid of the supply of reimbursement for those methods, affecting their affordability and enormous utilization. Disparities in healthcare infrastructure globally affect the Bone Scan market. Access to advanced imaging centers and skilled experts for decoding Bone Scans can vary, influencing market boom in one-of-a-kind areas.
Bone Scan Market Highlights:
Bone Scan Market Overview
The Bone Scan Market Size was valued at USD 31.22 Billion in 2023. The Global Bone Scan industry is projected to grow from USD 38.76 Billion in 2024 to USD 45.11 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.23% during the forecast period (2024 - 2032). A bone scan is a test of nuclear medicine and is mostly used to diagnose various bone diseases such as arthritis and bone cancer. It includes an injection of radioactive material and then the bone scan. Radioactive material also known as the tracer is injected into a vein. After injecting this material, the radiologist performs a bone scan. The radiologist may perform the bone scan in phases depending upon the condition to be diagnosed such as the presence of bone disease or cancer.
Rising prevalence of bone disease, increasing demand for imaging devices such as MRI, CT scan, SPECT scan, and increasing health care services are accelerating the growth of the market. Furthermore, the increasing expenditure on medical devices influences the market growth. Technological advancements in radiology devices affecting the market growth. However, the efficiency of bone scan may hinder the market growth over the forecast period. Additionally, the bone scan may determine the inaccurate cause of the abnormality.
According to the WHO, about 59% of the mortality is due to chronic diseases and almost 35 million people die of chronic diseases across the globe.
Intended Audience
- Medical Device Manufacturers
- Medical Device Suppliers
- Medical Research Laboratories
- Research and Development (R&D) Companies
- Market Research and Consulting Service Providers
- Potential Investors
Key Players in the Bone Scan Market
Some of the key players in this Bone Scan Market 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), General Electric Company (U.S.), and others.
Segments
The bone scan market is segmented on the basis of product, indication, device, and end user.
On the basis of the product, the market is segmented into radiopharmaceuticals and imaging devices. The imaging devices are further segmented into Magnetic Resonance Imaging (MRI), X-ray, Computed Tomography (CT), 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 of the Bone Scan Market
The Americas lead the bone scan market owing to the rising prevalence of bone disorders in the U.S. Furthermore, increasing demand for diagnostic services in various also influences the market growth. In North America, the U.S. is the largest market followed by Canada. Increasing penetration of orthopedic specialty hospitals and healthcare insurance is adding fuel to the market growth. Furthermore, the concentration of key players in the market along with the availability of various technologically advanced devices is boosting the market growth in the U.S.
Europe is the second largest bone scan market across the globe. The market is accelerated by the extensive use of diagnostic devices for diagnosis of various chronic diseases such as arthritis, diabetes, obesity and others. Furthermore, extensive research and development (R&D) activities carried out by clinical research and academic institutes stimulate the growth of the market. Germany and France contribute to the growth of the market owing to increasing expenditure on R&D and extensive demand for diagnostic devcies.
The Asia Pacific market is expected to grow at the fastest pace due to the high prevalence of chronic disease such as rheumatoid arthritis, osteoarthritis, obesity, diabetes, and other. Additionally, increasing number of bone injuries such as bone fractures boost the growth of the market. To add further, increasing number of skilled professionals along with increasing awareness about the bone diseases and importance of imaging tests in the diagnosis of bone diseases, and injuries. In Asia Pacific, India and China are holding the largest market share followed by Japan. Increasing expenditure on healthcare and improving healthcare infrastructure in various developing regions of Asia Pacific region are affecting the Bone Scan Market growth, positively.
The Middle East & Africa also show a steady rise in the Bone Scan Market owing to rising demand for diagnostic services and growing emphasis on diagnosis and treatment of bone disease. Developing healthcare infrastructure in the Middle East also fuels the growth of the market. In Africa, the market also shows a positive growth owing to the development of healthcare system in African countries and increasing demand for primary care services.
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