“The adoption of handheld and portable body fat analyzers is expected to increase among the population, owing to sedentary lifestyle and hectic schedules, which is cumulatively expected to boost the body composition analyzers market for home users.”
As per the report published by Allied Market Research, the global body composition analyzers market accounted for $356 million in 2017 and is estimated to reach $596 million by 2025, registering a CAGR of 6.6% from 2018 to 2025. The report provides an extensive analysis of drivers & opportunities, key winning strategies, market size & projections, major segments, and competitive landscape.
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Rise in obese population, supportive initiatives by governments for promoting healthy lifestyle, and increase in health consciousness among people drive the growth of the market. However, high cost of investment and stringent regulations related to usage of body composition analyzers restrain the market growth. On the other hand, upsurge in the number of gyms and fitness clubs would create new opportunities in the industry.
The bio-impedance analyzer segment held the major share, accounting for more than two-fifths of the total share in 2017 and is estimated to maintain its dominance during the forecast period. This is due to lower cost and convenience offered by them in comparison to other analyzers. However, the air displacement plethysmography equipment segment is expected to grow at the largest CAGR of 9.6% from 2018 to 2025, owing to increase in accuracy provided by these equipment and surge in awareness regarding bod pods.
The fitness clubs & wellness centers segment held a major share, contributing for more than two-thirds of the total share in 2017, and is estimated to maintain its pole position by 2025. This is attributed to surge in health consciousness among population and considerable surge in number of health clubs and gyms worldwide. However, the home user segment is expected grow at the largest CAGR of 10.4% during the forecast period, owing to rise in adoption of handheld and portable body composition analyzers for gaining convenience and flexibility in use.
North America held the major share with nearly two-fifths of the share of the market in terms of revenue in 2017 and is estimated to continue its leadership status by 2025, owing to presence of advanced healthcare infrastructure and ongoing R&D initiatives. However, Asia-Pacific is expected to register the highest CAGR of 9.0% from 2018 to 2025, owing to the rise in healthcare expenditure, increase in fitness clubs & wellness centers, and surge in obese population in developing countries.
The key market players discussed in the report include Omron Corporation, Hologic, Inc., Cosmed S.R.L., GE Healthcare, Jawon Medical Co., Ltd., Tanita Corporation, Rjl Systems, Inc., Inbody Co., Ltd., Bodystat Ltd., and Seca GmbH & Co. Kg. They have adopted different strategies such as partnerships, expansions, mergers & acquisitions, joint ventures, collaborations, and others to gain a strong position in the industry.