Global Body Composition Analyzers Market is expected to reach USD 1,790.50 million by 2024 from USD 998.36 million in 2016, at a CAGR of 7.6%. The new market report contains data for historic years 2015, the base year of calculation is 2016 a nd the forecast period is 2017 to 2024.
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Segmentation: Global Body Composition Analysers Market
By Product (Bioimpedance Analyzer, Skinfold Caliper, Dual Emission X-Ray Absorptiometry (DEXA), Hydrostatic Weighing, Air Displacement Plethysmography), End-User (Private Clinics, Offices, Health Clubs, Hospitals, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)
Drivers: Global Body Composition Analysers Market
Some of the major factors driving the market for body composition analysers market, areaging population globally, rising obesity globally, government initiatives, and key players are taking strategic decisions to gain market share,increasing health club memberships, growing health and fitness consciousness and increasing diseases due to changing lifestyle.
AGING POPULATION GLOBALLY
The rising aging population and the change in lifestyle have resulted in increase in the health consciousness which acts as a driving factor for the body composition analyzer market. The growth of the aging population globally has led to the growth for medical devices, especially diagnostic equipment that focus on finding the constituents present in the body.
RISING OBESITY GLOBALLY
The rise in obesity is going to boost the growth of the body composition market as people are becoming excessively health conscious. The obesity is on rise around the globe due to modern lifestyles, unhealthy eating habits, desk bound jobs and others. The growth in the obesity depends upon economic crisis because during the economy crisis people are forced to cut their food expenditures and switch to lower price and less healthy foods.
GOVERNMENT INITIATIVES
The obesity menace around the globe is on the rise. Due to the rising obesity the government around the world has been taking several initiatives to create awareness regarding the ill effects of obesity and taking necessary steps such as imposing tax on the products, labeling them with statutory warnings to reduce the excess intake of the products which are leading to obesity.
KEY PLAYERS ARE TAKING STRATEGIC DECISIONS TO GAIN MARKET SHARE
The mergers and acquisition of any company plays a very important role in expanding the business and reaching the ultimate customer. For instance, Tanita a Japan based company and also the market leader in the body composition analyzers market partnered with the U.K., based company called Boditrax. Boditrax has installed most of the body composition analyzers equipments in hospitals, health clubs, leisure clubs and premier league football clubs.
INCREASING DISEASES DUE TO CHANGING LIFESTYLE
The sedentary lifestyle among the younger generation, long working hours, and unhealthy eating habits has given rise to obesity in the developing and the developed countries such as U.S., and Germany. With the rise of obesity many serious diseases too follow such as cardiovascular diseases, diabetes, osteoarthritis and many more.
Major Players: Global Body Composition Analysers Market
Some of the major players operating in this market are:
- Tanita (Japan),
- InBody CO. LTD. (South Korea)
- Omron Healthcare, Inc. (Japan),
- Selvashealthcare (Korea),
- Bodystat (U.K.),
- Hologic, Inc. (U.S.),
- GE Healthcare (U.K.),
- COSMED (Italy),
- Beurer GmbH (Germany),
- seca (Germany),
- RJL SYSTEMS (U.S.A),
- Maltron International Ltd. (U.K.),
- LaicaSpA (Italy)among others.
