PORTLAND, Oregon, January 7, 2019 /PRNewswire/ --
Upsurge in obese population, rise in government initiatives to promote healthy lifestyle, and increase in health consciousness among people facilitate the growth of the global body composition analyzers market.
Allied Market Research published a report, titled, Body Composition Analyzers Market by Product (Bio-Impedance Analyzer, Dual Energy X-Ray Absorptiometry Equipment, Skinfold Calipers, Air Displacement Plethysmography Equipment, and Hydrostatic Weighing Equipment) and by End User (Hospitals, Fitness Clubs & Wellness Centers, Academic & Research Centers, and Home Users) - Global Opportunity Analysis and Industry Forecast, 2017-2025. 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.
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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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.
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.
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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.
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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SOURCE Allied Market Research