Bioimpedance Analyzer Market: Current Analysis and Forecast (2021-2027)
Emphasis on Application (Whole-body Measurement, and Segmental Body Measurement); Product Type (Multi-frequency Analyzer, Single-frequency Analyzer, and Dual-frequency Analyzer); End-user (Fitness Clubs and Wellness Centre, Home Users, Hospitals, and Others); and Region/Country
The Bioimpedance Analyzer market is predicted to grow at a CAGR of ~9% between 2021 and 2027. Key factors influencing the growth of the fitness market are the growing population around the world, industrialization in developing economies, and increased consciousness about health and healthy lifestyle around the world. With the increasing population and rapid urbanization in most countries, the lifestyle-associated diseases generated all over the world are increasing. These diseases can lead to other serious diseases. According to CDC, obese people are 36% more vulnerable to a heart attack than people with other disorders. Furthermore, increasing awareness programs on physical health coupled with the increasing investment in animal or human research by various institutions contribute to the market expansion of bioimpedance analyzers. Additionally, the technological advancements in the sector can also be expected to increase the market of the bioimpedance analyzer market.
The ongoing COVID-19 pandemic across the world has had a tremendous impact on different spectra of society, the market for Bioimpedance analyzer no less. The market for bioimpedance analyzers faced an impact due to movement restrictions, which have forced people to stay home, and, thus, there has been a huge decline in the hospital and clinic visits and fitness clubs. This has affected the trade of bioimpedance analyzers due to the reduced demand and widespread financial distress.
Insights Presented in the Report
“Amongst Product Type, multiple-frequency bioimpedance devices had a significant market share in 2020
On the basis of Product Type, the market is categorized into multi-frequency analyzers, single-frequency analyzers, and dual-frequency analyzers. Among them, multiple-frequency bioimpedance devices, which can measure impedances at various frequencies, accounted for the greatest revenue market share in 2020. Bioelectrical impedance analysis may also be used to determine the appendicular lean mass (BIA). It improves the accuracy and efficiency of fat-free mass, total body water, and intra- and extra-cellular water calculations. The increased popularity and recognition of multiple-frequency bioimpedance devices is likely to support market growth throughout the forecast period.
Amongst Applications, Segmental Measurement dominated the market in 2020
Based on application, the market is bifurcated into whole-body measurement and segmental body measurement. In 2020, the segmental body measurement had a major share in the market because of its accuracy. The segmented body analyzes each part of the body and provides the result that can be utilized for analyzing the body and identifying the abnormality. Furthermore, the segmental body measurement is also used in sports to train athletes by identifying the strength of the organs and to spot internal injuries during sports. In addition, with growing awareness regarding personal fitness, major players in the market are expanding across geographies and are offering new and advanced products. For instance, in April 2022, Inbody launched its product BWA 2.0 body water analyzer that measures the body water composition, its segmental breakdown, and fluctuations to determine its long-term effects on health and vitality.
“Amongst End-user, the fitness clubs and wellness centers is likely to capture significant market share during the foreseeable future
Based on End-user, the market has been segmented into fitness clubs and wellness centers, home users, hospitals, and others. Among them, the fitness clubs and wellness centers are expected to grow significantly in the projected future owing to the expanding global awareness of health and fitness. The number of fitness clubs and wellness centers has expanded dramatically in last decade, resulting in a greater emphasis on health and fitness among the population, which stimulates the growth of the segment. The home user category is also expected to expand at a quick rate in the industry. The segment demand is being influenced favorably by ongoing technological advancements and the expanding utilization of bioimpedance analyzers. The usage of a bioimpedance analyzer is increasing as a means of determining body composition in order to preserve health and fitness. This tool may be used without the assistance of a professional. As a result, it might function as a catalyst for sector demand in the near future.
“Asia-Pacific holds the lion’s share in the Bioimpedance Analyzer market”
During the forecast period, APAC is expected to have significant growth due to ongoing industrialization and growing health concerns, which have fueled manufacturing output levels, positively influencing the global fitness equipment market. Rising R&D activities along with emerging economies such as China and India attributes to the development of the market of the region. Moreover, with rising awareness about health care and fitness along with the increasing public participation in professional sports in the region, surging obesity cases, attracts investors in the region. Additionally, the active participation of government and private players in healthcare and fitness activities promotes the growth of local players in the country. Furthermore, the presence of the major market players in China and Japan makes APAC an ideal region for market growth in the projected future. For instance, Fook Tin Group Holding Ltd, and OMRON Corporation are the major players in the bioimpedance market in the APAC region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
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Table of Contents
Research Methodology for the Bioimpedance Analyzer Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the bioimpedance analyzer market were the three major steps undertaken to create and analyze the adoption of bioimpedance analyzer in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the bioimpedance analyzer market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the bioimpedance analyzer through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the bioimpedance analyzer market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product type, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of Bioimpedance Analyzer in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the bioimpedance analyzer market. Further, we conducted factor analysis using dependent and independent variables such as increasing digitalization of industries and urbanization in developing countries. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Bioimpedance Analyzer sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Bioimpedance Analyzer market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Bioimpedance Analyzer across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Bioimpedance Analyzer market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Bioimpedance Analyzer market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Product Type, and End User of the Bioimpedance Analyzer market.
The main objective of the Bioimpedance Analyzer Market Study
The current & future market trends of Bioimpedance Analyzer were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from the first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of bioimpedance analyzer in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of application, product type, end-user, and Region.
- Define and analysis of the regulatory framework for the bioimpedance analyzer industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the bioimpedance analyzer market for the major region
- Major regions studied in the report include North America (U.S, Canada, and the Rest of North America), Europe (Germany, United Kingdom, France, Spain, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Others), and the Rest of the World
- Company profiles of the bioimpedance analyzer market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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