According to MRFR analysis, Body Composition Analyzers Market is expected to register a CAGR of 7.6% during the forecast period and was valued at USD 460.27 million in 2018.
Key Drivers and Deterrents
All over the world, there has been significant growth in health consciousness, with a rising focus on personal grooming and fitness. However, people interested in losing weight are not able to track their progress solely with the help of weighing scales. As a result, the demand for body composition analyzers has surged considerably in the past few years. The booming fitness sector is also responsible for the market growth in recent years. Given the heightened demand for quick results, fitness centers and gyms are increasingly adopting BCAs (body composition analyzers) to achieve precise results without any time wastage. BCAs’ demand is also bolstered by the prevalence of sedentary or inactive lifestyles and the rising obesity cases and related diseases.
A few other potential growth boosters in the global market include the increased funding from the government bodies across countries as well as global healthcare institutions such as World health organization. The advanced degree of fitness and health provided by these devices can be favorable for the market, as members of gyms and fitness clubs will be motivated by other’s progress. As a result, BCAs have emerged as the latest trends in the health and wellness industry, which can expand by leaps and bounds in the years to come. The global market also has a remarkable growth scope within the sports industry with sports authorities, centers and sports scientists, and personal instructors increasingly adopting these analyzers.
Research and academic centers are progressively carrying out studies to understand and evaluate the preciseness of different types of body composition analyzers. In the past couple of years, various studies have confirmed that body composition is essential in determining the fitness level of an individual. Thus, several researches have been conducted that focuses primarily on relevant data with regard to body composition to prevent obesity and related diseases. Technological innovations and the user-friendly property of body composition analyzers have fostered their adoption among home-users. Home-users are a key end-user in the market as they find these devices quite simple to use, eliminating the need for professional assistance. Besides, firms are constantly taking up strategic hacks such as acquisitions, product launches and mergers to introduce modern technologies as well as products in the market and gain the upper hand, from a competitive point of view.
Some of the key players in the Global Body Composition Analyzers Market are GE Healthcare Inc., Hologic Inc., Beurer GmbH, Inbody Co. Ltd., Bodystat, Cosmed S.R.L, Jawon Medical Co., Ltd, Maltron International Ltd., Omron Healthcare Inc., Seca GmbH Co. Kg., Tanita Corporation, AccuFitness, LLC, and others.
The global market for body composition analyzers has been considered for product type, mobility, and end user.
The product types analyzed in the market study are skinfold calipers, air displacement plethysmography, hydrostatic weighing equipment, bioimpedance analyzer, dual-energy X-Ray absorptiometry, and others. Bioimpedance analyzers are most likely to gain maximum traction in the global market over the conjectured period. These analyzers are touted to gain the top spot owing their benefits over other product types, including low cost, higher accuracy and easy operations.
The mobility-based segments are stationary body composition analyzers as well as portable body composition analyzers.
The top end users identified in the study are academic and research centers, hospitals, home users, fitness centers, and more. Hospitals are expected to be the most significant end-user in the global market as these facilities are mostly preferred by the patients undergoing treatment.
The global report on the body composition analyzers market has several demographic insights and inputs to provide a better view of various growth pockets that can be used in the coming years to develop enriched strategies. The Americas is helming the market where the US and Canada are making significant contributions. This is due to the growing number of obese people who need proper care. At the same time, the market allows different types of body scrubs easy integration of various technologies to enable smooth growth.
In Europe, the market is getting backed adequately by government initiatives, public interests, better planning for preventive measures, increasing investment in researches, and others. Germany, the UK, France, Russia, and others would contribute significantly.
In the Asia Pacific region, this growth of the market would be possible with the developing healthcare sectors in countries like China, South Korea, India, Australia, and others. Japan’s well-set healthcare sector would ensure a strong uptake of various products. However, this growth would be sluggish in the Middle East Africa (MEA) as governments are reluctant to spend much in the healthcare sector due to their poor economic condition.
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