The body composition analyzer market is expected to reach USD 668.1 million in 2021 from USD 366.7 million in 2016 at a CAGR of 12.7%.
Over the years, the body composition analyzers market, has witnessed various technological advancements. These advancements have led to a growth in adoption of body composition analyzers across the globe. Some of the other factors driving the growth of the market are the rise in obese population, growing health and fitness consciousness among people and increasing government initiatives to encourage physical activity. On the other hand, inconsistency in the accuracy of different analyzers and high cost of equipment is likely to restrain the growth of the market during the forecast period. However, growing fitness clubs, weight loss clinics, and sports rehabilitation centers are posing lucrative opportunities for the body composition analyzers market.
In 2016, bio-impedance analyzer is estimated to account for the largest share of the body composition analyzer market and is expected to grow at the highest rate during the forecast period. This large share can be attributed to the simplicity, low cost, and better accuracy as compared to other body composition analyzers.
In 2016, the hospitals segment is estimated to account for the largest share of the body composition analyzer market and is expected to grow at the highest rate during the forecast period. The growth of this segment can be attributed to the rise in osteoporosis cases, increasing adoption of body composition analyzers to assess the nutritional status in patients and increasing health consciousness among masses.
In 2016, North America is expected to account for the largest share of the global body composition analyzer market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Its large share can be attributed to rising obesity rates, rising health clubs and fitness centers in the U.S., increasing government initiatives to encourage physical activity in North America. However, in the coming years, the body composition analyzer market is expected to witness the highest growth rate in the Asia-Pacific region due to rising trend of overweight and obesity in China, and foothold of local players in Japan.
The global body composition analyzers market witnesses various product offerings offered by big and small firms. New Product launches, product deployments, partnerships, market expansions were the key developments undertaken by the companies to increase their market shares and to establish a strong foothold in the global market.
The report provides a picture on body composition analyzers across various regions. It aims at estimating the market size and future growth potential of this market across different segments such as product type, end-users and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, and recent developments.
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