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Global Body Composition Analyzers market is expected to witness a CAGR of 7.2% during the forecast period. Certain factors that are driving the market growth include large pool of obese patients and increasing prevalence of metabolic disorders, technological advancements, and rising awareness for health and fitness.
Obesity is a metabolic dysfunction and is often associated with a wide range of chronic illnesses, which cause significant increases in mortality and comorbidity. The percentage of obese population involved in regular testing of body composition is increasing. The sales of body composition analyzers have witnessed an increasing pattern because of the obese population’s vulnerability to lifestyle disorders. According to the OECD Obesity Update 2017, obesity levels are particularly high in North America. In the United States and Mexico, 47% and 39% of the population respectively is projected to become obese by 2030. As of 2017, 32.4% of males aged 15 years and over is obese in Mexico, whereas in the United States and Canada, an estimated 38.2% and 25.8% of males over 15 are obese. According to the World Health Organization’s 2016 report, approximately 13% of the world’s population could be characterized as obese. Moreover, predictions state that these numbers are likely to increase exponentially in the near future.
Key Market Trends
Bioimpedance Analyzer is Expected to Hold a Significant Market Share in the Product Segment
The Bio-impedance Analysis (BIA) is a screening tool used to determine body composition and in particular body fat. It is a non-invasive tool used by medical practitioners to measure the percentage of body fat. It also enables the estimation of percentage of muscle tissues, percentage of hydration levels, bone weight, metabolic rate, and fitness levels. BIA works on the principle of electrical conductivity. The Bio-impedance Analysis (BIA) is a screening tool used to determine body composition and in particular body fat. It is a non-invasive tool used by medical practitioners to measure the percentage of body fat. It also enables the estimation of percentage of muscle tissues, percentage of hydration levels, bone weight, metabolic rate, and fitness levels. BIA works on the principle of electrical conductivity.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to account for the largest share of the body composition analyzer market. The growth in the region has been attributed to the reasons, such as increase in the obesity rates, increase in the investments made by the government, and rise in the number of health clubs and fitness centers to encourage people for physical activities to stay fit. As per the data published in the State of Obesity 2018 report, obesity costs the United States USD 149 billion in medical expenses annually, with about half of those expenses paid by publicly financed Medicare and Medicaid programs. The trends in obesity have witnessed a relatively larger increment in the past few years, owing to the lesser physical activity and higher consumption of fast food. This trend is more prevalent in high income countries and is projected to impel the demand of body fat measurement devices and analyzers in the coming years.
The global Body Composition Analyzers market is highly competitive and consists of a number of major players. Companies like Bodystat, Cosmed S.R.L, GE Healthcare Inc., Hologic Inc., Inbody Co. Ltd., Jawon Medical Co., Ltd., Maltron International Ltd., Omron Healthcare Inc., Seca GmbH & Co. Kg., Tanita Corporation, among others, hold the substantial market share in the Body Composition Analyzers market.
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