New York , Jan. 09, 2024 (GLOBE NEWSWIRE) -- The global body composition analyzers market size is projected to grow at a CAGR of over 15.70% from 2023 to 2035. The market is expected to garner a revenue of USD 10.13 billion by the end of 2035, up from a revenue of USD 1.76 billion in the year 2022. The major element to dominate the market expansion is the growing consumption of unhealthy food. For instance, about 80 percent of people eat fast food once a week in the United States.
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This consumption of fast food has further increased the prevalence of obesity. As per the WHO, over 1 billion individuals worldwide suffer from obesity - this includes 650 million adults, 340 million teenagers, and 39 million children. This figure is still rising. Hence, the need for body composition analyzers is surging to assess body weight to prevent further complications brought on by obesity.
Body Composition Analyzers Market: Key Takeaways
- Market in North America to propel the highest growth
- Fitness clubs & wellness centers segment to garner the highest growth
- Market in Asia Pacific region to grow at a notable rate
Growing Population to Boost the Growth of Global Body Composition Analyzers Market
With over 8,045,311,446 people on the planet in 2023, the population of the world increased by over 70,206,290, or over 0.87%, from 7,975,105,155 in 2022. As a result, with the rise in population, the prevalence of various diseases also rises. This is why the demand for advancement in healthcare is also growing. Therefore, the market demand for body composition analyzers is also growing.
Body Composition Analyzers Industry: Regional Overview
The global body composition analyzers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Surge in Prevalence of Coronary Artery Disease to Influence the Market Expansion in North America
The North America marker for body composition analyzers is predicted to gather the largest share of about 32% over the coming years. This growth could be on account of the rising prevalence of coronary artery disease. Coronary artery disease is among the most prevalent kind of heart disease in the US, affecting 18.2 million adult Americans.
Rise in Consumption of Alcohol to Drive the Market Expansion in Asia Pacific
The Asia Pacific market for body composition analyzers is estimated to have notable growth over the coming years. The major factor to dominate the market growth in this region is the growing consumption of alcohol. It was predicted that India's alcohol consumption would rise from approximately 4 billion liters in 2020 to approximately 5 billion liters by 2024.
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Body Composition Analyzers Segmentation by End-User
- Fitness Clubs & Wellness Centers
- Hospitals
- Academic & Research Centers
The fitness clubs & wellness centers segment is set to gather the largest share of ~35% over the coming years. The major element estimated to influence the segment growth is the rising number of athletes. Furthermore, a large number of people are indulged in exercise which is also estimated to boost segment growth. For instance, in England, group exercise sessions are attended by nearly 3 million people.
Body Composition Analyzers Segmentation by Product
- Bioimpedance Analyzer
- Skinfold Calipers
- Hydrostatic Weighing Equipment
- Air Displacement Plethysmography (ADP)
- Dual Energy X-ray absorptiometry (DEXA)
The bioimpedance analyzer segment is predicted to gather the highest revenue in the market over the coming years. This growth could be on account of rising urbanization. Approximately five billion people resided in urban regions worldwide as of 2021, while four billion people lived in rural areas. The population of cities was estimated to be 750 million in 1950; by 2021, it had nearly doubled to about 5 billion; by 2050, it is predicted to reach over 7 billion, adding an extra 3 billion people to metropolitan regions. Urban people are expected to face more obesity owing to their sedentary lifestyle.
A few of the well-known market leaders in the global body composition analyzers market that are profiled by Research Nester are InBody Inc., GE HealthCare Technologies Inc., Cosmed srl, Tanita Corporation, Omron Corporation, Hologic Inc., RJL Systems, Inc., Seca GmbH & Co. Kg., Selvas Healthcare, Inc., Charder Electronic Co. Ltd, and others.
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Recent Development in the Market
- InBody, a leading global provider of medical device technology and professional body composition analysis, has announced the launching of their professional-grade body water analyzer, the BWA 20. The analyzer provides users with more in-depth insights that illustrate how differences in body composition and body water might affect overall well-being by building on the outputs measured by the InBody S10.
- A marketing collaboration deal has been announced between FitTrace, a major provider of cloud-based body composition analysis and reporting software, and GE HealthCare Technologies Inc.
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