IMARC Group, a leading market research company, has recently releases report titled “Bone and Mineral Diagnostic Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global bone and mineral diagnostic testing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the bone and mineral diagnostic testing market?
The global bone and mineral diagnostic testing market size reached US$ 1.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.67% during 2024-2032.
What is bone and mineral diagnostic testing?
Bone and mineral diagnostic testing is a specialized medical process specifically designed to identify disorders linked to the skeleton system and mineral imbalances in the body. These tests are employed to diagnose diseases like osteoporosis, kidney stone, hyperparathyroidism, and bone cancer, among others. These testing methodologies, backed by cutting-edge technology, assist medical professionals in identifying abnormal changes in bone density and mineral concentration, which may lead to serious health complications if not addressed promptly. These diagnostic procedures play a critical role in the early detection of diseases and facilitate timely therapeutic intervention, which significantly enhances the prognosis of patients. Some of the common diagnostic procedures used to evaluate bone health and mineral imbalances include bone density tests, bone biopsy, blood and urine tests, and imaging tests.
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What are the growth prospects and trends in the bone and mineral diagnostic testing industry?
The global bone and mineral diagnostic testing market is witnessing significant growth driven by a growing elderly population and the increasing prevalence of bone and mineral disorders. With aging, the risk of conditions such as osteoporosis and bone fractures amplify, leading to increased demand for diagnostic tests to ensure early detection and effective treatment. Along with this, lifestyle-induced diseases, including obesity and diabetes have shown a correlation with bone and mineral disorders, thereby further stimulating market growth. In addition, the escalating awareness of the importance of early detection in managing bone and mineral disorders and the associated healthcare costs is positively influencing the market. Apart from this, ongoing advancements in diagnostic technologies and techniques due to the substantial investment in healthcare research and development are contributing to the market. Furthermore, the emergence of novel diagnostic methodologies harnessing artificial intelligence (AI) and machine learning (ML) is creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Product:
- Assays/Consumables
- Instruments
Market Breakup by Test Type:
- Enzyme-Linked Immunosorbent Assay (ELISA)
- Clinical Laboratory Improvement Amendments (CLIA)
- Others
Market Breakup by Application:
- Vitamin D Testing
- Bone Metabolism
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Abbott Laboratories
- bioMérieux SA
- DiaSorin S.p.A.
- Epitope Diagnostics Inc.
- F. Hoffmann-La Roche AG
- QuidelOrtho Corporation
- Siemens Healthineers AG (Siemens AG)
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