Press release
Body Composition Analyzers Market by Product (Bio-impedance Analyzer, Skinfold Calipers, Dual Energy X-Ray Absorptiometry Equipment, Hydrostatic Weighing Equipment, Air Displacement Plethysmography Equipment, and Others) and End User (Fitness Clubs & Well
Body Composition Analyzers Market
Body Composition Analyzers Market by Product (Bio-Impedance Analyzer, Dual Energy X-Ray Absorptiometry Equipment, Skinfold Calipers, Air Displacement Plethysmography Equipment, and Hydrostatic Weighing Equipment) and by End User (Hospitals, Fitness Clubs & Wellness Centers, Academic & Research Centers, and Home Users) - Global Opportunity Analysis and Industry Forecast, 2017-2025. The report offers detailed analyses of the drivers & opportunities, top winning strategies, market size & estimations, and competitive landscape. As per the report, the global body composition analyzers market contributed nearly $356 million in 2017, and is expected to garner $596 million by 2025, growing at a CAGR of 6.6% from 2018 to 2025.
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Increase in obese population, proactive initiatives by government to promote healthy lifestyle, and rise in health consciousness among people facilitate the growth of the market. However, high initial cost and strict regulations regarding usage of body composition analyzers hinder the market growth. On the other hand, increase in the number of gyms and health clubs would create new opportunities in the market.
Bio-impedance analyzer segment contributed more than two-fifths of the total market share in 2017 and is expected to continue its dominance throughout the forecast period. This is attributed to low cost and convenience offered by them as compared to other analyzers. However, air displacement plethysmography equipment segment would register the highest CAGR of 9.6% from 2018 to 2025, owing to the higher accuracy provided by them and rise in awareness about bod pods. The research also analyzes skinfold caliper, dual energy X-Ray absorptiometry, hydrostatic weighing equipment, and others.
Fitness clubs & wellness centers segment accounted for more than two-thirds of the total market share in 2017 and is expected to continue its lead in terms of revenue by 2025. This is due to increase in health consciousness among the population and significant surge in the number of health clubs and gyms across the globe. Home user segment would register the highest CAGR of 10.4% from 2018 to 2025, owing to the greater adoption of handheld and portable body composition analyzers to gain constant access. The research also analyzes hospitals and others.
North America contributed nearly two-fifth share of the total market in terms of revenue by 2017 and would maintain its lead by 2025 due to the presence of well-established healthcare infrastructure and continuous R&D initiatives. However, Asia-Pacific would grow at the highest CAGR of 9.0% from 2018 to 2025, owing to the increase in healthcare expenditure, surge in fitness clubs & wellness centers, and rise in obese population across developing countries.
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The leading market players analyzed in the report include Omron Corporation, Cosmed S.R.L., Hologic, Inc., Jawon Medical Co., Ltd., GE Healthcare, Rjl Systems, Inc., Tanita Corporation, Bodystat Ltd., Inbody Co., Ltd., and Seca GmbH & Co. Kg. These players have implemented various strategies including partnerships, mergers & acquisitions, expansions, collaborations, joint ventures, and others to gain a stronghold in the industry.
Analyst Review:
Utilization of body composition analyzers is anticipated to witness a significant rise with technological advancements. Increase in prevalence of metabolic disorders and constant development in this field fuel the growth of the market.
The key factors, such as increase in prevalence of obesity, rise in economic strength of the developing nations, such as Japan, China, India, Indonesia, Thailand, and others as well as rise in healthcare expenditure are expected to drive the market growth during the forecast period.
However, high equipment costs and inaccuracy in readings of various body composition analyzers restrict the market growth. Rapid growth was observed in the adoption of technologically advanced medical devices across developing economies, and this is expected to offset the challenging conditions in mature markets, such as North America and Europe. Moreover, North America and Europe are expected to dominate during the forecast period, while emerging countries in Asia-Pacific and Latin America are expected to offer significant growth opportunities to the market.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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