Global Body Fat Measurement Market by Technology, Application & Geography – Analysis & Forecast to 2024
MaketStudyReport.com adds a new Body Fat Measurement Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at 8% CAGR to 2024.
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Development of technologically advanced BIA devices and growing prevalence of metabolic disorders will fuel demand for body fat measurement solutions. Growing prevalence of obesity has been a rising concern, worldwide. The metabolic disorders are closely associated with several life-threatening diseases such as stroke, diabetes and other heart disorders. Body Fat Measurement Market size is estimated to reach USD 798 million by 2024; as per a new research report.
The development of technologically advanced BIA devices and their improved adoption should boost industry size. Technological developments such as introduction of four-eight sensors and electrode segmental analysis along with growing use of DEXA bone densitometers for body composition analysis should further enhance the accuracy of testing. U.S. dominated the industry revenue share, with target market size slated to exceed USD 274 million by 2024. High market penetration rates, presence of large unmet needs in terms of body weight management in the population, and lucrative adoption of technologically advanced products are some key factors accounting for its large share.
APAC will register a healthy 8.9% CAGR owing to increased healthcare spending, rising per capita disposable income levels and increased buying power of healthcare consumers in this region.
The entry of established players with their expansion strategies in the emerging economies has made Asia-Pacific and Latin America lucrative growth markets. Moreover, comparatively less stringent regulatory landscape and strong labor force in the regions of China and India should offer smooth entry to industry players.
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Global body fat measurement market is projected to reach USD 798 million by 2024, from an estimated USD 402.6 million in 2015, at an anticipated CAGR of 8% from 2016 to 2024. Bioimpedance analyzers segment attributed to largest share with USD 144 million in 2015. The large share is accredited to its technological advancements resulting into increased accuracy.
Europe body fat measurement market size valued at USD 126.7 million in 2015, accounted for the 31.5% of overall revenue share. Germany and UK were responsible for regional share of 23.5% and 14% respectively.
The threat of new entrants is high owing to simple development process of the BIA and caliper devices. However, it is relatively difficult for the new players to develop DEXA or ADP.
China, and Japan will drive the industry growth due to presence of large patient population base, and rising screening for obesity.
The industry is fragmented with the presence of several key players such as GE Healthcare, COSMED and Tanita Corporation. Other key industry players include Omron, Beurer, Inbody and Hologic.
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