Bone Scan Market Size, Share, Competitive Landscape, and Trend Analysis Report by Product, Application, End Use, and Region: Global Opportunity Analysis and Industry Forecast, 2024-2033

The bone scan market was valued at $32,781.00 million in 2023 and is estimated to reach $56,259.89 million by 2033 exhibiting a CAGR of 5.6% from 2024 to 2033.

Market Introduction and Definition

A bone scan, also known as bone scintigraphy, is a diagnostic imaging procedure used to evaluate various bone conditions. It involves the use of a small amount of radioactive material, typically technetium-99m, which is injected into a vein. This radioactive tracer travels through the bloodstream and accumulates in the bones, particularly in areas with high metabolic activity or abnormalities.

The primary purpose of a bone scan is to detect abnormalities such as fractures, infections, bone cancer, or metastasis (spread of cancer to the bones). It is especially useful in identifying issues that may not be visible on standard X-rays, such as small fractures or early-stage bone diseases. The procedure begins with the injection of the radioactive tracer. After allowing time for the tracer to be absorbed by the bones, typically a few hours, the patient is scanned with a special camera that detects the radiation emitted by the tracer.

Key Takeaways

• The bone scan market study covers 20 countries. The research includes a segment analysis of each country in terms of value ($million) for the projected period from 2024 to 2033.
• More than 1,500 product literatures, industry releases, annual reports, and other such documents of major energy storage system industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
• The study integrates high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach intends to provide a balanced view of global markets and assist stakeholders in making informed decisions in order to achieve their most ambitious growth objectives.

Industry Trends

• On March 25, 2022, Siemens Healthineers revealed its latest innovations in Medical Imaging at IRIA 2022. The MAGNETOM Free.Star introduced a disruptively simple approach to MRI, transforming access to high-value care. Additionally, the NAEOTOM Alpha® emerged as the world’s first photon-counting CT, delivering high-resolution images at minimal doses, spectral information in every scan, and improved contrast at lower noise levels.
• On February 4, 2023, in Amritsar, FUJIFILM India, a leader in healthcare imaging and information systems, expanded its product and solutions portfolio at the 75th National Conference of the Indian Radiological and Imaging Association (IRIA). During the conference held from February 2nd to 5th, FUJIFILM India introduced revolutionary diagnostic machines, including the ultrasound systems Arietta 850 DeepInsight and Arietta 650 DeepInsight, along with the new MRI machine APERTO Lucent and the Non-DICOM printer APEOS. The company also launched “FUJIFILM Connect,” a service and support mobile application.

Key Market Dynamics

Increasing incidence of bone-related diseases such as osteoporosis, bone metastases, and arthritis drives the demand for bone scans. Conditions such as osteoporosis, bone metastases, and arthritis are becoming more prevalent. Osteoporosis, for example, is more common as populations age and as lifestyles (such as sedentary habits or poor nutrition) contribute to bone density issues. As the global population ages, there is a natural increase in the incidence of bone disorders. Older individuals are more prone to conditions like osteoporosis and arthritis, necessitating more frequent diagnostic assessments like bone scans. Modern lifestyles, characterized by factors such as decreased physical activity, poor diet, and increased stress, contribute to the rising prevalence of bone disorders. These lifestyle factors can accelerate bone density loss and increase the risk of conditions that require diagnostic monitoring. Increased awareness among both patients and healthcare providers about the importance of early detection and monitoring of bone disorders has led to more frequent screening and use of diagnostic tools like bone scans. These factors are predicted to drive the bone scan market growth during the forecast period.

Bone scanning equipment, such as Single Photon Emission Computed Tomography (SPECT) or Positron Emission Tomography (PET) scanners, can be very expensive to purchase. The initial investment required to acquire this technology can be prohibitive for healthcare facilities, especially those with limited budgets or in regions with constrained healthcare funding. Beyond the initial purchase, there are substantial ongoing costs associated with maintaining bone scanning equipment. Regular servicing, calibration, and upgrades are necessary to ensure accurate and reliable performance. These maintenance costs add to the overall financial burden of operating such equipment. The high costs involved can limit access to bone scanning services in certain regions or healthcare settings. These factors are anticipated to restrain the bone scan market growth during the forecast period.

The advances in imaging technologies such as Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET) have enhanced the accuracy and resolution of bone scans. These improvements allow for earlier detection and more precise diagnosis of bone diseases and conditions. The advancements in SPECT and PET enable more precise diagnosis of various bone diseases and conditions. This includes detecting metastases, evaluating bone fractures, assessing bone infections, and diagnosing metabolic bone diseases such as osteoporosis. With improved imaging quality, bone scans can be used not only for diagnostic purposes but also for monitoring treatment effectiveness and disease progression. This expanded utility enhances the overall value of bone scans in clinical practice. As healthcare providers recognize the benefits of advanced imaging technologies in bone scans, there is a growing demand for these services. This trend contributes to market growth as facilities invest in upgrading their imaging capabilities to offer state-of-the-art bone scan services. These factors are anticipated to create opportunities in the bone scan market during the forecast years.

Acts and Initiatives in the Global Bone Scan Market

The market is experiencing rapid growth and transformation, driven by factors such as technological advancements, increasing healthcare costs, aging populations, and the demand for efficient and accessible healthcare services. A bone scan typically refers to a medical imaging technique used to diagnose bone diseases and conditions such as fractures, infections, or cancer metastases.

• Health Insurance Portability and Accountability Act (HIPAA): HIPAA ensures patient confidentiality and privacy in healthcare settings, including those involving medical imaging such as bone scans.
• American College of Radiology (ACR) Guidelines: ACR provides guidelines and standards for the performance and interpretation of bone scans to ensure consistency and quality in medical practice.
• Radiation Safety Acts and Regulations: These include national and international regulations that set standards for the use of ionizing radiation in medical imaging, including bone scans. For instance, in the United States, the Radiation Control for Health and Safety Act regulates the use of radiation-emitting devices.

Market Segmentation

The bone scan market is segmented into product, application, end user, and region. On the basis of product, the market is divided into radiopharmaceuticals and imaging devices. On the basis of application, the market is divided into fractures, arthritis, paget's disease of bone, and cancer originating in bone. On the basis of end user, the market is divided into hospitals, clinics, and diagnostic centers. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Regional Market Outlook

The prevalence of bone-related diseases such as osteoporosis, bone fractures, and bone cancers is rising in North America due to factors like aging populations and sedentary lifestyles. This drives the demand for bone scans for early detection, diagnosis, and monitoring of these conditions. Advances in imaging technologies, such as positron emission tomography (PET), single-photon emission computed tomography (SPECT), and hybrid imaging systems like PET-CT and SPECT-CT, enhance the accuracy and capabilities of bone scans. These technologies attract healthcare providers and patients alike, fostering market growth.

On July 13, 2022, Canon Medical unveiled the Vantage Fortian at ECR 2022. This new MRI system featured innovative workflow solutions, image enhancement, and accelerated scan technology, which together helped reduce the time required for MRI procedures.

Competitive Landscape

The major players operating in the bone scan market include Carestream Health, Inc., FUJIFILM Holdings Corporation, General Electric Company, Hitachi, Ltd. Hologic, Inc., Koninklijke Philips N.V., Samsung Electronics Co., Ltd., Shimadzu Medical (India) Pvt. Ltd., Siemens, and Toshiba Corporation.

Recent Key Strategies and Developments

• On January 18, 2024, Orthofix Medical Inc., a leading global spine and orthopedics company, entered into an agreement with MRIguidance to distribute its BoneMRI™ imaging software in the U.S. The company also announced the successful completion of the world’s first eight cases utilizing BoneMRI software with 7D’s FLASH™ Navigation System. BoneMRI created a synthetic CT from an MRI exam without harmful radiation, allowing surgeons, staff, and patients to benefit from completely radiation-free preoperative imaging and spinal navigation using BoneMRI with the 7D FLASH Navigation System.
• On July 13, 2022, Canon Medical introduced the Vantage Fortian at ECR 2022. This advanced MRI system showcased new workflow solutions, improved image quality, and faster scan technology, collectively decreasing the time needed for MRI procedures.

Key Sources Referred

1. Medical Imaging Companies
2. European Association of Nuclear Medicine (EANM)
3. Society of Nuclear Medicine and Molecular Imaging (SNMMI)
4. World Health Organization (WHO)
5. American College of Radiology (ACR)

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the bone scan market segments, current trends, estimations, and dynamics of the bone scan market analysis from 2024 to 2033 to identify the prevailing bone scan market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the bone scan market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global bone scan market statistics.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

Apart from the points mentioned above, the report includes the analysis of the regional as well as global medical camera, key players, market segments, application areas, and market growth strategies.

1. Research Methodology

1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation

1.5.1. Top-down approach
1.5.2. Bottom-up approach

2. Report Scope

2.1. Market definition
2.2. Key objectives of the study
2.3. Market segmentation

3. Executive Summary
4. Market Overview

4.1. Introduction
4.2. Growth impact forces

4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities

4.3. Market value chain analysis

4.3.1. List of raw material suppliers
4.3.2. List of manufacturers 
4.3.3. List of distributors

4.4. Innovation & sustainability matrices

4.4.1. Technology matrix
4.4.2. Regulatory matrix

4.5. Porter’s five forces analysis

4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive Rivalry Intensity

4.6. PESTLE analysis

4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Legal
4.6.6. Environmental

4.7. Impact of COVID-19 on Bone Scan Market 

4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario

5. Bone Scan Market Analysis, by Product

5.1. Overview
5.2. Radiopharmaceuticals

5.2.1. Definition, key trends, growth factors, and opportunities
5.2.2. Market size analysis, by region, 2022-2032
5.2.3. Market share analysis, by country, 2022-2032

5.3. Imaging Devices

5.3.1. Definition, key trends, growth factors, and opportunities
5.3.2. Market size analysis, by region, 2022-2032
5.3.3. Market share analysis, by country, 2022-2032

5.4. Research Dive Exclusive Insights

5.4.1. Market attractiveness
5.4.2. Competition heatmap

6. Bone Scan Market Analysis, by Application

6.1. Overview
6.2. Fractures

6.2.1. Definition, key trends, growth factors, and opportunities
6.2.2. Market size analysis, by region, 2022-2032
6.2.3. Market share analysis, by country, 2022-2032

6.3. Arthritis

6.3.1. Definition, key trends, growth factors, and opportunities
6.3.2. Market size analysis, by region, 2022-2032
6.3.3. Market share analysis, by country, 2022-2032

6.4. Paget's Disease of Bone

6.4.1. Definition, key trends, growth factors, and opportunities
6.4.2. Market size analysis, by region, 2022-2032
6.4.3. Market share analysis, by country, 2022-2032

6.5. Cancer Originating in Bone

6.5.1. Definition, key trends, growth factors, and opportunities
6.5.2. Market size analysis, by region, 2022-2032
6.5.3. Market share analysis, by country, 2022-2032

6.6. Research Dive Exclusive Insights

6.6.1. Market attractiveness
6.6.2. Competition heatmap

7. Bone Scan Market Analysis, by End User

7.1. Overview
7.2. Hospitals

7.2.1. Definition, key trends, growth factors, and opportunities
7.2.2. Market size analysis, by region, 2022-2032
7.2.3. Market share analysis, by country, 2022-2032

7.3. Clinics

7.3.1. Definition, key trends, growth factors, and opportunities
7.3.2. Market size analysis, by region, 2022-2032
7.3.3. Market share analysis, by country, 2022-2032

7.4. Diagnostic Centers

7.4.1. Definition, key trends, growth factors, and opportunities
7.4.2. Market size analysis, by region, 2022-2032
7.4.3. Market share analysis, by country, 2022-2032

7.5. Research Dive Exclusive Insights

7.5.1. Market attractiveness
7.5.2. Competition heatmap

8. Bone Scan Market , by Region

8.1. North America

8.1.1. U.S.

8.1.1.1. Market size analysis, by Product, 2022-2032
8.1.1.2. Market size analysis, by Application, 2022-2032
8.1.1.3. Market size analysis, by End User, 2022-2032

8.1.2. Canada

8.1.2.1. Market size analysis, by Product, 2022-2032
8.1.2.2. Market size analysis, by Application, 2022-2032
8.1.2.3. Market size analysis, by End User, 2022-2032

8.1.3. Mexico

8.1.3.1. Market size analysis, by Product, 2022-2032
8.1.3.2. Market size analysis, by Application, 2022-2032
8.1.3.3. Market size analysis, by End User, 2022-2032

8.1.4. Research Dive Exclusive Insights

8.1.4.1. Market attractiveness
8.1.4.2. Competition heatmap

8.2. Europe

8.2.1. Germany 

8.2.1.1. Market size analysis, by Product, 2022-2032
8.2.1.2. Market size analysis, by Application, 2022-2032
8.2.1.3. Market size analysis, by End User, 2022-2032

8.2.2. UK

8.2.2.1. Market size analysis, by Product, 2022-2032
8.2.2.2. Market size analysis, by Application, 2022-2032
8.2.2.3. Market size analysis, by End User, 2022-2032

8.2.3. France

8.2.3.1. Market size analysis, by Product, 2022-2032
8.2.3.2. Market size analysis, by Application, 2022-2032
8.2.3.3. Market size analysis, by End User, 2022-2032

8.2.4. Spain

8.2.4.1. Market size analysis, by Product, 2022-2032
8.2.4.2. Market size analysis, by Application, 2022-2032
8.2.4.3. Market size analysis, by End User, 2022-2032

8.2.5. Italy

8.2.5.1. Market size analysis, by Product, 2022-2032
8.2.5.2. Market size analysis, by Application, 2022-2032
8.2.5.3. Market size analysis, by End User, 2022-2032

8.2.6. Rest of Europe

8.2.6.1. Market size analysis, by Product, 2022-2032
8.2.6.2. Market size analysis, by Application, 2022-2032
8.2.6.3. Market size analysis, by End User, 2022-2032

8.2.7. Research Dive Exclusive Insights

8.2.7.1. Market attractiveness
8.2.7.2. Competition heatmap

8.3. Asia-Pacific

8.3.1. China

8.3.1.1. Market size analysis, by Product, 2022-2032
8.3.1.2. Market size analysis, by Application, 2022-2032
8.3.1.3. Market size analysis, by End User, 2022-2032

8.3.2. Japan 

8.3.2.1. Market size analysis, by Product, 2022-2032
8.3.2.2. Market size analysis, by Application, 2022-2032
8.3.2.3. Market size analysis, by End User, 2022-2032

8.3.3. India

8.3.3.1. Market size analysis, by Product, 2022-2032
8.3.3.2. Market size analysis, by Application, 2022-2032
8.3.3.3. Market size analysis, by End User, 2022-2032

8.3.4. Australia

8.3.4.1. Market size analysis, by Product, 2022-2032
8.3.4.2. Market size analysis, by Application, 2022-2032
8.3.4.3. Market size analysis, by End User, 2022-2032

8.3.5. South Korea

8.3.5.1. Market size analysis, by Product, 2022-2032
8.3.5.2. Market size analysis, by Application, 2022-2032
8.3.5.3. Market size analysis, by End User, 2022-2032

8.3.6. Rest of Asia-Pacific

8.3.6.1. Market size analysis, by Product, 2022-2032
8.3.6.2. Market size analysis, by Application, 2022-2032
8.3.6.3. Market size analysis, by End User, 2022-2032

8.3.7. Research Dive Exclusive Insights

8.3.7.1. Market attractiveness
8.3.7.2. Competition heatmap

8.4. LAMEA

8.4.1. Brazil

8.4.1.1. Market size analysis, by Product, 2022-2032
8.4.1.2. Market size analysis, by Application, 2022-2032
8.4.1.3. Market size analysis, by End User, 2022-2032

8.4.2. UAE

8.4.2.1. Market size analysis, by Product, 2022-2032
8.4.2.2. Market size analysis, by Application, 2022-2032
8.4.2.3. Market size analysis, by End User, 2022-2032

8.4.3. Saudi Arabia

8.4.3.1. Market size analysis, by Product, 2022-2032
8.4.3.2. Market size analysis, by Application, 2022-2032
8.4.3.3. Market size analysis, by End User, 2022-2032

8.4.4. South Africa

8.4.4.1. Market size analysis, by Product, 2022-2032
8.4.4.2. Market size analysis, by Application, 2022-2032
8.4.4.3. Market size analysis, by End User, 2022-2032

8.4.5. Rest of LAMEA

8.4.5.1. Market size analysis, by Product, 2022-2032
8.4.5.2. Market size analysis, by Application, 2022-2032
8.4.5.3. Market size analysis, by End User, 2022-2032

8.4.6. Research Dive Exclusive Insights

8.4.6.1. Market attractiveness
8.4.6.2. Competition heatmap

9. Competitive Landscape

9.1. Top winning strategies, 2022

9.1.1. By strategy
9.1.2. By year

9.2. Strategic overview
9.3. Market share analysis, 2022

10. Company Profiles

10.1. Carestream Health, Inc.
10.1.1. Overview
10.1.2. Business segments
10.1.3. Product portfolio
10.1.4. Financial performance
10.1.5. Recent developments
10.1.6. SWOT analysis

10.2. FUJIFILM Holdings Corporation

10.2.1. Overview
10.2.2. Business segments
10.2.3. Product portfolio
10.2.4. Financial performance
10.2.5. Recent developments
10.2.6. SWOT analysis

10.3. General Electric Company

10.3.1. Overview
10.3.2. Business segments
10.3.3. Product portfolio
10.3.4. Financial performance
10.3.5. Recent developments
10.3.6. SWOT analysis

10.4. Hitachi, Ltd.

10.4.1. Overview
10.4.2. Business segments
10.4.3. Product portfolio
10.4.4. Financial performance
10.4.5. Recent developments
10.4.6. SWOT analysis

10.5. Hologic, Inc.

10.5.1. Overview
10.5.2. Business segments
10.5.3. Product portfolio
10.5.4. Financial performance
10.5.5. Recent developments
10.5.6. SWOT analysis

10.6. Koninklijke Philips N.V.

10.6.1. Overview
10.6.2. Business segments
10.6.3. Product portfolio
10.6.4. Financial performance
10.6.5. Recent developments
10.6.6. SWOT analysis

10.7. Samsung Electronics Co., Ltd.

10.7.1. Overview
10.7.2. Business segments
10.7.3. Product portfolio
10.7.4. Financial performance
10.7.5. Recent developments
10.7.6. SWOT analysis

10.8. Shimadzu Medical (India) Pvt. Ltd.

10.8.1. Overview
10.8.2. Business segments
10.8.3. Product portfolio
10.8.4. Financial performance
10.8.5. Recent developments
10.8.6. SWOT analysis

10.9. Siemens

10.9.1. Overview
10.9.2. Business segments
10.9.3. Product portfolio
10.9.4. Financial performance
10.9.5. Recent developments
10.9.6. SWOT analysis

10.10. Toshiba Corporation

10.10.1. Overview
10.10.2. Business segments
10.10.3. Product portfolio
10.10.4. Financial performance
10.10.5. Recent developments
10.10.6. SWOT analysis

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