Global body composition analyzers market accounted for $356 million in 2017 and is estimated to reach $596 million by 2025, registering 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.
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.
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 key market players discussed in the report include Omron Corporation, Hologic, Inc., Cosmed S.R.L., GE Healthcare, Jawon Medical Co., Ltd., Tanita Corporation, Rjl Systems, Inc., Inbody Co., Ltd., Bodystat Ltd., and Seca GmbH & Co. Kg. They have adopted different strategies such as partnerships, expansions, mergers & acquisitions, joint ventures, collaborations, and others to gain a strong position in the industry.
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SOURCE: Allied Market Research
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