Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Metabolic Testing Market, by Product Type (Metabolic Carts (Portable and Bench-top), Body Composition Analyzers (Portable and Bench-top), and ECGs/EKGs (Portable and Bench-top)), by Test Type (VO2 Max Analysis, RMR Analysis, and Body Composition Analysis), by End User (Hospitals & Clinics, Sports Performance Lab, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 451.5 Mn in 2018 and is estimated to exhibit a CAGR of 7.6% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
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The increasing launches of advanced metabolic testing devices by market players and rising prevalence of lifestyle diseases are the factors that are expected to drive the global metabolic testing market growth over the forecast period. Moreover, key players in the market are focusing on investing in research and development of novel metabolic testing devices. For instance, InBody Co., Ltd. launched InBody band 2, which is a fusion of body composition analyzers and fitness trackers, in 2017. Additionally, in March 2018, Cosmed srl launched Q-NRG, a metabolic monitor that is utilized for measuring energy expenditure in spontaneous breathing and mechanically ventilated patients admitted in ICU.
Browse 35 Market Data Tables and 34 Figures spread through 179 Pages and in-depth TOC on Global Metabolic Testing Market, by Product Type (Metabolic Carts (Portable and Bench-top), Body Composition Analyzers (Portable and Bench-top), and ECGs/EKGs (Portable and Bench-top)), by Test Type (VO2 Max Analysis, RMR Analysis, and Body Composition Analysis), by End User (Hospitals & Clinics, Sports Performance Lab, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) – Global Forecast to 2026
To know the latest trends and insights prevalent in the Metabolic Testing market Press Release, click the link below: https://bit.ly/2F5zVhB
The increasing prevalence of lifestyle diseases is expected to fuel demand for metabolic testing systems, which is further expected to drive global metabolic testing market growth over the forecast period. For instance, according to a report published by Stroke Alliance for Europe (SAFE) in 2017, incidence of stroke is expected to increase by 34% in Europe during 2015-2035. Moreover, according to the same source, number of people living with stroke is expected to increase by around 25% between 2015 and 2035 from 3,718,785 million in 2015 to 4,631,050 by 2035. Furthermore, key players in the market are focusing on adopting growth strategies such as mergers and acquisitions, in order to expand their product portfolio and strengthen their market position. For instance, in May 2018, GE Healthcare entered into a collaboration agreement with FitTrace, a company that offers cloud-based software for analysis and reporting of body composition.
Moreover, lifestyle diseases are still not considered as extremely serious and fatal in developed as well as emerging economies. However, low awareness among people about metabolic testing and need for screening, prevention, and monitoring of lifestyle diseases are expected to restrain the market growth over the forecast period. Two tests that are majorly conducted/used in metabolic testing include Resting Metabolic Rate (RMR) analysis and VO2 max analysis. Resting Metabolic Rate (RMR) analysis is required in ICUs for hospitalized patients to track their health status and to devise precise nutritional requirements for such patients on the basis of their RMR analysis. VO2 max analysis is required by sports professionals and athletes. Body composition analysis is not performed extensively other than by fitness enthusiasts (to have high muscle to fat ratio for a muscular physique) and other purposes. These above mentioned factors are expected to hamper growth of the market up to certain extent, over the forecast period.
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Key Takeaways of the Metabolic Testing Market:
- The global metabolic testing market is expected to exhibit a CAGR of 7.6% over the forecast period (2018-2026), attributed to increasing product launches and approvals and robust pipeline of novel metabolic testing devices by market players
- Among regions, North America is expected to hold dominant position in the global metabolic testing market over the forecast period. This is attributed to presence of large customer base and key players in the region, which are increasingly focusing on new product launches. For instance, in January 2019, KORR Medical Technologies launched Metabolic Meal Plan application, which aids clinicians to implement, manage, and track clients’ weight-loss regimens.
- Among regions, Europe is expected to account for the second largest market share in the global metabolic testing market over the forecast period. This is attributed to presence of key manufacturers in the region and their increasing focus on research and development of new products. For instance, in November 2017, Vizient, Inc., a major healthcare performance improvement company, bestowed ‘2017 Innovative Technology designation’ to COSMED srl’s K5 wearable metabolic system.
- Key players operating in the metabolic testing market include COSMED srl, Vyaire Medical, Inc., Geratherm Medical AG, MGC Diagnostics Corporation, CORTEX Biophysik GmbH, General Electric Company, Microlife Medical Home Solutions, Inc., OSI Systems, Inc., AEI Technologies, Inc., and KORR Medical Technologies, Inc.
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