SAN FRANCISCO, Aug. 10, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled «Body Composition Analyzers – Global Market Trajectory & Analytics». The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: May 2021
Executive Pool: 483
Companies: 87 – Players covered include AccuFitness, LLC; Beurer GmbH; Bodystat Limited; COSMED srl; GE Healthcare; Hologic, Inc.; InBody Co., Ltd; Maltron International Ltd.; Omron Corporation; RJL Systems, Inc.; Seca GmbH&Co. KG; Selvas Healthcare lnc.; Tanita Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product (Bio-Impedance Analyzers, Skinfold Calipers, Hydrostatic Weighing, DEXA, Other Products); End-Use (Hospitals, Fitness & Wellness Centers, Home-Users, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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Global Body Composition Analyzers Market to Reach $886.1 Million by 2026
Body composition analysis helps clinicians detect altered balance in an individual’s body composition, enabling early intervention as well as prevention. Body composition analyzers are widely used to assess the amount of fat, bone and muscle in the body. These devices are used to estimate fat and non-fat mass of the body including analysis of proteins, minerals and water. The process provides precise measurement regarding the body fat in association with lean body mass to help users evaluate the risk linked with high or low level of body fat. These analyzers are commonly used at fitness clubs, hospitals, homes and academic & research centers. Some of these technologies analyze beyond just body fat by analyzing body fluids providing a better analysis of current state of health of the patient.
Body mass index, bioelectrical impedance and skin fold caliper testing are some of the most common approaches to body composition analysis. Various parameters assessed by these systems include body fat percentage, waist-to-hip ratio, fat free mass, fat mass, bioelectrical impedance, lean body weight and basal metabolic rate among others. The different methods and systems used show significant differences with respect to accuracy, ease of use and price, with each one of them typified by presence of strengths and weaknesses. Of the various technologies used in analyzing body composition, bioimpedance analyzers represent the largest segment with a market share of around 42.5% of the market in value terms. The strength of bioimpedance analyzers lies in their ability to combine accuracy and prices, which are critical components in the area of body fat measurement.
Amid the COVID-19 crisis, the global market for Body Composition Analyzers estimated at US$544 Million in the year 2020, is projected to reach a revised size of US$886.1 Million by 2026, growing at a CAGR of 8.3% over the analysis period. Bio-Impedance Analyzers, one of the segments analyzed in the report, is projected to record a 9.6% CAGR and reach US$352 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Skinfold Calipers segment is readjusted to a revised 8.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $258.3 Million in 2021, While China is Forecast to Reach $94.3 Million by 2026
The Body Composition Analyzers market in the U.S. is estimated at US$258.3 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$94.3 Million by the year 2026 trailing a CAGR of 10.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.5% and 8.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.
The emergence of obesity as a global epidemic is anticipated to create strong demand for body composition analyzers. With increasing cases of obesity, around 47%, 35% and 39% of the population in the US, the UK and Mexico is estimated to be obese by 2030. The growing prevalence of obesity among adults and children can be credited to factors including sedentary lifestyles, hypertension, high blood lipids and diabetes mellitus. These incidents along with rising awareness about healthy lifestyles are expected to provide a major impetus to the global market for body composition analyzers. As more number of people turn towards fitness approaches to shed excess weight, and stay fit and active, demand for solutions that assist in determining metabolic rate and calorie calculations is expected to surge in the following years. Body composition analyzers are used to determine the risk of specific conditions related to obesity. For instance, capacitive and impedance analyzers are capable of producing values for individuals on the basis of their ethnicity and age. The trend is driving the demand for these devices in various applications in the field of medical research, sports and research projects related to epidemiology, nutrition and anthropology. The market is anticipated to receive a major impetus from the sports industry due to increasing adoption of body composition analyzers.
With the concepts of wellness and mindfulness becoming ever more important for consumers, fitness has become a more relevant goal for many people. The health and fitness industry in the US witnessed a steady pace of growth over the years. Currently, nearly 20% of adults in the US hold a fitness club membership. In addition to growing health consciousness, rise in per capita disposable income is a key factor driving growth in the space. The increase in time spent on leisure and sports is also expected to expand the potential pool of consumers and thus demand for fitness centers. This in turn bodes well for body composition analyzers. The emerging demand for results-driven fitness centers that aid in achieving individual fitness goals is also expected to augment growth.
Hydrostatic Weighing Segment to Reach $144.5 Million by 2026
In the global Hydrostatic Weighing segment, USA, Canada, Japan, China and Europe will drive the 7.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$83.9 Million in the year 2020 will reach a projected size of US$137.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$10.8 Million by the year 2026, while Latin America will expand at a 7.8% CAGR through the analysis period. More
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SOURCE Global Industry Analysts, Inc.