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Osteoporosis, Paget's disease, and osteogenesis imperfecta are examples of common bone diseases that are caused due to the acute shortage of minerals like calcium, phosphorus, and vitamin D. Technavio’s market research analyst has estimated factors like the growing awareness of diagnostic testing among the populace, rapid advances in technology, and increased number of product launches and approvals from regulatory authorities to result in this market’s steady growth rate of more than 4.3% by 2019.
Geographically, the Americas are expected to account for more than 50% of the total market share by 2019. High market dominion of this region can be attributed to the prevalence of diseases such as Paget's disease and osteoporosis in the US. Also, the recent rise in laboratory automation and increased FDA approval for new products also boost the prospects for growth in this market during the forecast period.
In this market research report, analysts estimate the vitamin D testing segment to account for more than 77% of the total market share by 2019. Its ability to determine bone weaknesses, bone malformation, or abnormal metabolism of calcium is expected to account for its high market share during the forecast period.
The assays/consumables segment is expected to account for a market share of close to 85% during the period of 2014 and 2019. Their usefulness in detecting the presence and type of elements such as hormones, vitamins, and specific proteins in a patient’s blood sample results in its high market share during the forecast period. Additionally, their ability to generate high ROI for manufacturers is expected to result in this segment’s growth in the next four years.
This market is highly fragmented due to the presence of multiple medium- and small-sized manufacturers who provide immunodiagnostic test kits for bone and mineral metabolism. The large companies in this market face intense competition from the smaller vendors as they provide cost-effective products to the patients. Vendors in this market compete on the basis of price, quality, range of products, and distribution capabilities to gain prominence in this market during the forecast period.
Leading vendors in this market are -
Other prominent vendors analyzed in this market study are Alere, ALPCO, Beckman Coulter, Biomedica Immunoassays, Bio-Rad Laboratories, Calbiotech, DIAsource ImmunoAssays, DRG INSTRUMENTS, Eagle BioSciences, Enzo Life Sciences, Epitope Diagnostics, IBL International, Immundiagnostik, Immunodiagnostic Systems, IASON, ORGENTEC Diagnostika, Orion Diagnostica, Ortho-Clinical Diagnostics, and TECOmedical.
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