According to a new report published by Allied Market Research, titled,"Body Composition Analyzers Market by Product and by End Users: Global Opportunity Analysis and Industry Forecast, 2018 - 2025",the market was valued at $356 million in 2017, and is projected to reach $596 million by 2025, growing at a CAGR of 6.6% from 2018 to 2025. North America is anticipated to be the highest revenue contributor throughout the forecast period.
Body composition is the ratio of fat and fat-free mass in the body. Body composition analysis is required to measure and to assess health and fitness level of obese patients or other fitness-conscious people. Body composition analyzer is a device, which provides fast in-depth information for personalized health or fitness consultations. In addition, it is used to strategize an exercise plan as per the requirement of the end user. Multiple ways are available to measure body composition, and each method has its pros and cons.
Body composition analyzers also help calculate different compounds present within the body and provide their specific values at the point of analysis. Some of the analyzers can target cumulative changes in body composition for a definite period of time. Furthermore, precise body composition analyzers can adjudicate an individual's risk of developing definite disease, such as obesity. Moreover, skin fold measurements can be used for threat factor analysis in cohort studies for obesity-related diseases.
The global body composition analyzers market is anticipated to grow considerably in the near future, owing to various factors, such as growing fitness & health awareness among people, technological advancements, and new government initiatives to boost physical activity. However, high costs associated with body composition analyzers is the key factor expected to impede the market growth. On the contrary, emerging markets, such as India and China, are anticipated to provide lucrative growth opportunities to the market players during the forecast period.
By product, bio-impedance segment accounted for more than two-fifths share of the global body composition analyzers market in 2017. These analyzers garnered the largest share in the body composition analyzers market in 2017, owing to their low cost and convenience. On the other hand, the fitness clubs and wellness centers end user segment occupied the largest market share in 2017. Increase in number of health clubs and gyms in the near future is anticipated to significantly drive the growth of the global body composition analyzers market during the forecast period. Based on region, North America generated the highest revenue in the global body composition analyzers market in 2017.
Key Findings of the Body Composition Analyzers Market:
- Based on product, the air displacement plethysmography equipment segment is expected to experience rapid growth in the market, and is projected to grow at a CAGR of 9.6% from 2018 to 2025.
- By end user, the fitness clubs & wellness centers segment held the largest market share in 2017, and is expected to remain dominant throughout the forecast period.
- Based on region, North America generated the highest revenue in the global body composition analyzers market in 2017, accounting for near about two-fifths share of the global market.
- Based on region, Asia-Pacific is anticipated to grow at the highest rate in the market during the forecast period.
North America held the highest market share in 2017, and is expected to remain dominant throughout the forecast period. The Asia-Pacific region is expected to grow at the highest CAGR of 9.0% during the forecast period, due to surge in obese population and increase in health awareness in this region.
The report provides an extensive competitive analysis and profiles of the key market players, which include Bodystat Ltd., COSMED S.r.l., General Electric Company, Hologic, Inc., Inbody Co., Omron Corporation, RJL Systems, Inc., SELVAS AI Inc., Seca GmbH & Co.Kg., and Tanita Corporation. The other players included in the value chain analysis (and not included in the report) are Accufitness Llc., Beurer GmbH, and Maltron International Ltd.
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