Body Composition Analyzers Market - Global Industry Insights, Trends, Outlook, 2017–2025
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Body Composition Analyzers Market Dynamics
New product launches through increasing R&D activities by key market players is expected to aid in growth of the body composition analyzers market. For example, InBody Co., Ltd. is one of the key players on the market that is engaged in manufacturing body composition analyzers. In October 2017, InBody Co., Ltd. launched band 2, which is fusion of body composition analyzers and fitness trackers. Integration of technologies such as Bluetooth wireless technology, BMI indicator, and past record tracker are expected to aid in increasing adoption of these devices. Furthermore, SELVAS Healthcare launched next generation body composition analyzer, ACCUNIQ BC380 with innovative software technologies and better product design, UI screens and result sheet in comparison to its old models. In addition to this, in 2015, this same company changed its name to Jawon Medical Co., Ltd. through a merger with HEAMS International, and launched two new products named X-SCAN PLUS 970, a body fat analyzer and COZY-930 Candy 5 HD II, a body composition and body water monitoring system.
According to WHO, 2016, 13% of the global population was overweight, which comprises 11% of men and 15% of women. Furthermore, according to OECD's Obesity Update 2017 report, obesity rates of the U.S. was 38.2% and ranked the first, while Mexico ranked the second with 32.4%. Obese population is more prone to metabolic as well as weight related disorder such as osteoarthritis, heart diseases, diabetes, high blood pressure etc. Overweight and obesity as well as their related diseases are largely preventable. So awareness for weight related health issues and governmental initiatives for healthier life will aid in growth of body composition analyzer market. Increasing prevalence of obesity is one of the major factors fuelling growth of body composition analyzer market. However, high cost of the devices is expected to be a major factor hindering growth of body composition analyzers market.
Body Composition Analyzers Market - Regional Analysis
In terms of geography, the body composition analyzers market is segmented into North America, Europe, Asia Pacific, Middle East, Latin America, and Africa. U.S. is estimated to be dominant market in forecast period due to government initiatives to promote physical activity and advancement in technology. Asia Pacific is expected to be fastest growing body composition analyzer market due to increasing awareness about importance of weight management and fast development in healthcare sector.
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Body Composition Analyzers Market - Competitors
Key players in the global body composition analyzers market are Omron Corporation, Beurer GmbH, Tanita, InBody Co., Ltd, GE Healthcare, SECA, AccuFitness LLC, and Selvas Healthcare lnc. (Jawon medical Co. Ltd.).
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