Bone Metabolism Test Market
Number of pages: 100 | Report Format: PDF | Published date: May 19, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
CAGR |
9.7% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Test Types, Application, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global bone metabolism test market is expected to register a revenue CAGR of 9.7% during the forecast period of 2023 to 2031.
Bone Metabolism Test Market Fundamentals
A bone metabolism test, also known as a bone turnover test or bone resorption test, is a medical procedure used to assess the health and functioning of the skeletal system. It measures the rate at which bone is broken down and rebuilt, providing valuable information about bone density, strength, and the balance between bone resorption and formation. Bone metabolism tests are used for various purposes, including diagnosis of osteoporosis, monitoring treatment, and assessment of fracture risk. Bone density tests, particularly DXA scans, are commonly used to diagnose osteoporosis, a condition characterized by reduced bone density and increased fracture risk. These tests help monitor osteoporosis treatments' effectiveness and evaluate bone metabolism changes over time. Serial measurements of bone turnover markers can provide valuable information about treatment response.
The research study on the bone metabolism test market overview thoroughly analyzes the market, along with the aspects that either help or hinder the market's growth, such as its drivers, challenges, and opportunities. The research also discusses the list of businesses that operate in this market and their efforts to establish themselves as major players through expansion plans and innovative ideas. It also emphasizes current events that support the market's revenue expansion. The research also analyses how the COVID-19 pandemic has affected society.
This report is an important tool for the industry stakeholders to gather all the information about the market, customers, and competition. The report also provides the readers with valuable insights on the segmentation, regions, market size & forecast, revenue CAGRs, and other valuable data to help make informed strategic decisions. The study compiles information gathered from industry participants and specialists across the industry value chain. The report also taps into the qualitative and quantitative assessments by industry analysts. Our reports use different methods for estimating the market size and forecast, including secondary research, surveys and interviews, and statistical modeling. With these steps, our reports provide the most accurate market data. These datasets will cumulatively provide in-depth bone metabolism test market forecast to the industry stakeholders.
Bone Metabolism Test Market Dynamics
Osteoporosis is a widespread condition characterized by reduced bone density and increased fracture risk; with aging populations and changing lifestyles, the prevalence of osteoporosis is rising globally. This increase in the number of individuals at risk of osteoporosis drives the demand for bone metabolism tests market for early diagnosis, monitoring, and treatment evaluation. For instance, according to the International Osteoporosis Foundation’s article, osteoporosis affects an estimated 75 million individuals in Europe, the United States, and Japan. Furthermore, advances in diagnostic technologies have improved bone metabolism tests' accuracy, convenience, and availability. Dual-energy X-ray absorptiometry (DXA) scanners, used for bone mineral density measurements, have become more sophisticated and efficient. The development of novel biomarkers and laboratory techniques for assessing bone turnover has expanded the options for evaluating bone metabolism.
Additionally, limited awareness and access in developing regions, and alternative diagnostic approaches, are some of the restraints impeding the overall bone metabolism test market growth.
Bone Metabolism Test Market Ecosystem
Bone Metabolism Test Market, by Test Types
Bone Metabolism Test Market, by Application
Bone Metabolism Test Market by Test Type
[75656]
The bone marker test segment accounted for a prominent share in 2022. A bone marker test, also known as a bone turnover marker test, is a component of the broader bone metabolism test market. It involves measuring specific substances or markers in the blood or urine that reflect the activity of bone cells and the rate of bone turnover. Bone marker tests are performed by collecting blood or urine samples from the individual. The samples are then analyzed in a laboratory using specific assays or immunoassays to measure the concentration of the bone markers. The results are usually reported as absolute values or as ratios to creatinine levels in urine samples.
Segmentation of the market refers to the division of the industry into subgroups based on factors such as test type and application. Market segmentation data helps businesses to understand the preferences and unique needs of different customer groups and develop targeted sales strategies. This information also helps in identifying potential bone metabolism test market growth opportunities.
Bone Metabolism Test Market by Region
North America dominated the global bone metabolism test market with the largest revenue share in 2022 and is expected to register a CAGR of 9.8% during the forecast period, owing to the presence of advanced healthcare infrastructure, the increasing prevalence of osteoporosis, and a growing aging population. The market is expected to expand further due to rising awareness of bone health and the availability of advanced diagnostic technologies. For instance, according to the Office of Disease Prevention and Health Promotion article, an estimated 10 million people aged 50 years and older have osteoporosis in the United States. Additionally, North America possesses a well-developed healthcare infrastructure with advanced diagnostic facilities and a strong presence of research and academic institutions. This infrastructure supports the availability and accessibility of bone metabolism tests.
Based on the regions, the global bone metabolism test market is segmented into:
Regional demarcation of the industry will provide information on geographic pockets regarding bone metabolism test market outlook, size, share, and growth rate. This data helps businesses evaluate the expansion potential into new regional markets, understand the competitive threats across different regions, and develop localized sales and expansion strategies.
Key Components of the Report
Bone Metabolism Test Market Competitive Landscape
The market competitive landscape is performed by collecting and analyzing information about the key competitors, the present industry trends, and market dynamics. It includes information collection and analysis on factors such as products, pricing, geographic outreach, customer demographics, marketing strategies, and recent developments. Competitive landscape assessment will help businesses identify the current prevalent or potential opportunities and threats, keeping in mind the bone metabolism test industry trends.
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Reasons to Buy this Report
A bone metabolism test, also known as a bone turnover test or bone resorption test, is a medical procedure used to assess the health and functioning of the skeletal system.
Product Development and Innovation are the major strategies adopted by key market players.
North American region will have the largest bone metabolism test market size during the forecast period from 2023 to 2031.
The revenue CAGR of the bone metabolism test market during the forecast period will be 9.7% from 2023 to 2031.
Increasing focus on preventive healthcare is the most prominent bone metabolism test industry trend.
The limited awareness and access in developing regions and technological limitations and accuracy concerns are key challenges hampering the growth of the global bone metabolism test market.
The growing awareness of bone health and the increasing prevalence of osteoporosis are growth opportunities in the global bone metabolism test market.
Some prominent bone metabolism test market players are bioMérieux SA, Quidel Corporation, Abbott Laboratories Ltd., Thermo Fisher Scientific, Bio-Rad Laboratories, Inc., and Enzo Life Sciences, Inc.
The bone marker test segment has the highest share in the global bone metabolism test market.
*Insights on financial performance are subject to the availability of information in the public domain