Body Composition Analyzers Market To See Record Break Revenue $596 Million By 2025, At CAGR of 6.6%
Pune, Maharashtra, India, November 24 2020 (Wiredrelease) Allied Analytics –:The report offers detailed analyses of the drivers & opportunities, top winning strategies, market size & estimations, and competitive landscape. As per the report, the global body composition analyzers market contributed nearly $356 million in 2017, and is expected to garner $596 million by 2025, growing at a CAGR of 6.6% from 2018 to 2025.
Drivers, restraints, and opportunities-
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.
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Rise in obese population, supportive initiatives by governments for promoting healthy lifestyle, and increase in health consciousness among people drive the growth of the market. However, high cost of investment and stringent regulations related to usage of body composition analyzers restrain the market growth. On the other hand, upsurge in the number of gyms and fitness clubs would create new opportunities in the industry.
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.
The fitness clubs & wellness centers segment held a major share, contributing for more than two-thirds of the total share in 2017, and is estimated to maintain its pole position by 2025. This is attributed to surge in health consciousness among population and considerable surge in number of health clubs and gyms worldwide. However, the home user segment is expected grow at the largest CAGR of 10.4% during the forecast period, owing to rise in adoption of handheld and portable body composition analyzers for gaining convenience and flexibility in use.
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Bio-impedance analyzers to continue its dominance throughout the forecast period
Bio-impedance analyzer segment contributed more than two-fifths of the total market share in 2017 and is expected to continue its dominance throughout the forecast period. This is attributed to low cost and convenience offered by them as compared to other analyzers. However, air displacement plethysmography equipment segment would register the highest CAGR of 9.6% from 2018 to 2025, owing to the higher accuracy provided by them and rise in awareness about bod pods. The research also analyzes skinfold caliper, dual energy X-Ray absorptiometry, hydrostatic weighing equipment, and others.
North America held the major share with nearly two-fifths of the share of the market in terms of revenue in 2017 and is estimated to continue its leadership status by 2025, owing to presence of advanced healthcare infrastructure and ongoing R&D initiatives. However, Asia-Pacific is expected to register the highest CAGR of 9.0% from 2018 to 2025, owing to the rise in healthcare expenditure, increase in fitness clubs & wellness centers, and surge in obese population in developing countries.
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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