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.
Increase in obese population, proactive initiatives by government to promote healthy lifestyle, and rise in health consciousness among people facilitate the growth of the market. However, high initial cost and strict regulations regarding usage of body composition analyzers hinder the market growth. On the other hand, increase in the number of gyms and health clubs would create new opportunities in the market.
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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.
Fitness clubs & wellness centers segment to lead in terms of revenue through 2025
Fitness clubs & wellness centers segment accounted for more than two-thirds of the total market share in 2017 and is expected to continue its lead in terms of revenue by 2025. This is due to increase in health consciousness among the population and significant surge in the number of health clubs and gyms across the globe. Home user segment would register the highest CAGR of 10.4% from 2018 to 2025, owing to the greater adoption of handheld and portable body composition analyzers to gain constant access. The research also analyzes hospitals and others.
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.
North America to maintain its lion’s share by 2025
North America contributed nearly two-fifth share of the total market in terms of revenue by 2017 and would maintain its lead by 2025 due to the presence of well-established healthcare infrastructure and continuous R&D initiatives. However, Asia-Pacific would grow at the highest CAGR of 9.0% from 2018 to 2025, owing to the increase in healthcare expenditure, surge in fitness clubs & wellness centers, and rise in obese population across developing countries.
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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.
Frontrunners in the industry
The leading market players analyzed in the report include Omron Corporation, Cosmed S.R.L., Hologic, Inc., Jawon Medical Co., Ltd., GE Healthcare, Rjl Systems, Inc., Tanita Corporation, Bodystat Ltd., Inbody Co., Ltd., and Seca GmbH & Co. Kg. These players have implemented various strategies including partnerships, mergers & acquisitions, expansions, collaborations, joint ventures, and others to gain a stronghold in the industry.
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