Body composition analysis implicates a series of tests to measure the ratio of different body compounds. These tests reveal the percentage of water in the body, the ratio of fat to lean muscle tissue, metabolic rate (BMR), and body mass index (BMI).
The global body composition analyzer market is anticipated to grow at a CAGR of 12.09% between 2019 and 2027 and generate revenue of $1301.5 million by 2027. The growing popularity of e-commerce, the rising prevalence of obesity, and the governmental and institutional initiatives are predominantly driving the expansion of the market.
The global body composition analyzers market is expected to register substantial growth in the near future, owing to the significant rise in health awareness among the population. However, factors such as high equipment cost and stringent regulatory framework regarding the use of body composition analyzers are expected to restrain market growth. Conversely, the surge in the number of gyms and fitness clubs is expected to offer profitable opportunities for the market players soon.
With the relatively long life of body composition analyzers, along with rapid innovations in this product segment, the resale of these products will enhance significantly. Although there are several methods to estimate body fat level, none of them provide a high degree of accurate results. They have limitations in measuring other parameters such as body water level and muscle mass. Even with the inaccuracy of results in these methods, there are very insignificant numbers of substitute products available in the market.
Geographically, the global body composition analyzer market has been segmented on the basis of four major regions, namely, North America, Europe, Asia Pacific and the remaining countries collectively forming the Rest of World regional segment.
The Asia-Pacific market for body composition analyzer is projected to be the fastest-growing region for the body composition analyzer market. The largest share of the revenue for body composition analyzers in the APAC market came from healthcare facilities, followed by weight loss and therapy facilities. The surge in disposable income and hasty economic development have led to increased spending on fast foods, leading to unhealthy existences.
Jawon Medical Co., Ltd., InBody Co., Ltd., SECA GmbH & Co. KG., Cosmed S.R.L., Hologic, Inc., Omron Corporation, General Electric Company (GE Healthcare), RJL Systems, Inc., Tanita Corporation, Bodystat Ltd., and Selvas AI Inc. (Jawon Medical Co., Ltd.) are the major market players that are exhaustively profiled in the report.
One of the companies, namely, Bodystat Ltd. (Bodystat) is engaged in researching bioelectrical impedance technology to manufacture advanced electronics that can measure body composition and hydration accurately within the human body, noninvasively.