RISING NUMBER OF GERIATRIC POPULATION
The rise in 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 has led to the growth for medical devices, especially diagnostic equipment that focus on finding the constituents present in the body.
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Some of the statistics for the aging population worldwide are as follows:
The increase of the old age population will increase the demand for the body composition analyzers and this will in turn lead to the growth of the market.
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 occurrence rate of is increasing day by day in the Europe region. With the increase in obesity and the obesity related diseases led to the increase demand for the body composition analyzers which become a major driver of the body composition analyzers market.
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, labelling them with statutory warnings to reduce the excess intake of the products which are leading to obesity. The European Commission has taken some strategy to tackle overweight, nutrition and obesity-related health problems. European Union member states approximately 17% of the total adult population are obese and 52% of the total adult people are overweight.
Some examples taken by the government initiatives are as follows:
The government initiatives taken to create awareness and reduce the cases of obesity is fueling the market for the diagnosis devices used to measure the body composition such as bio electrical impedance analyzers and skinfold caliper among others.
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.
To attract more consumers and to create new marketing opportunities for body composition analyzers, manufacturing companies are developing new innovative products and this is leading to the growth of body composition analyzers market.
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.
Some of the recent statistics on Cardio Vascular Diseases (CVDs) are:
The encouragement is given to healthcare specialists who identify obesity related treatment, as millions of people affected with this can be saved. The increased demand for the obesity recognition leads to the increased demand for the body composition analyzers.
The regulatory framework is one of the main restrain for the body composition analyzers market. The body composition analyzers come under the medical class II devices (class II devices has the higher risk devices than Class I and require regulatory controls that offers assurance about the device’s safety and effectiveness) which have to be approved by FDA before they are brought in the market for the use of general public.
The Medical Device Directive is intended to harmonize the laws relating to medical devices within the European Union. The manufacturers of medical device have to meet the requirements of the MD Directive in order to legally place a medical device on the European market. The manufacturers of medical device have to meet the requirements of the EMC rules as the Electromagnetic Compatibility (EMC) Directive 2014/30/EU confirms that electronic and electrical equipment does not cause any electromagnetic disturbance.
The regulatory compliance issue acts as a barrier for the growth of the market.
HIGH COST OF EQUIPMENT
The main restraint for the body composition analyzers market is the high price of the full body composition analyzers. Some of the top end bio impedance analyzers are very expensive which are not affordable by the average earning population, though there are low priced devices available in the market but when it comes to the accuracy they fall far apart as compare to the high priced devices.
The high cost of the body composition analyzers is not affordable by the population with low income. Hence the high cost of body composition is constraining the growth of the market.
RISING FITNESS INDUSTRY
The rise in the fitness industry is one of the opportunities for the body composition analyzers market. For instance, according to the 2016 April issue of fitness news Europe, the European gym market is on the rise.
Some of the statistics in favor of the rise in fitness industry are as follows:
So, with this we can say that the increased number of the fitness centers increased the demand for the body composition analyzers.
GROWING NUMBER OF WEIGHT LOSS CLINICS
The rise in obesity around the world is increasing the number of weight loss centers. The weight loss clinics help in providing a healthy solution which includes programs like exercises and diet components which help in curbing the obesity. The weight loss clinics use the body composition analyzers devices in order to know the accurate body composition of the body and take necessary steps to help the patient lose weight.
The increased number of obesity and weight loss clinics fuels the demand for the body composition analyzers.
REQUIREMENT OF TRAINED STAFF
The requirement of a trained staff is a big challenge for estimating the correct composition of body fat and other minerals. The techniques like skinfold caliper are practical, economical and administratively feasible field technique for body composition analysis. However, the accuracy of the skinfold method is dependent on the technician’s skill as well on the type of caliper and the skinfold prediction equation being used. When choosing a skinfold caliper for health or fitness setting, the durability, cost, and degree of precision of the caliper are important considerations. The reasonably priced plastic calipers have less precise measuring scale and often provides variable pressure and minute range of measurement.
The whole human body is not uniform either in length, cross-sectional area or ionic composition and this automatically affects the accuracy of bio electrical impedance analyzers (BIA) measurements. In addition the body impedance varies among different ethnic groups and thus influences the accuracy of BIA.
Also, sometimes the electrical current of BIA doesn’t even pass through fat underneath the skin, so one could lose a lot of fat and BIA would not be able to detect it. Similarly, is the case for the DEXA, the interpretation of the results of a DEXA bone densitometry can sometimes be difficult. For instance, it may not be easy to interpret the results of the scan of the spine when the patient is suffering from the degenerative condition, such as spondylosis. Also, the spinal abnormalities or a previous spinal fracture can give vague results. Moreover, DEXA won’t be able to record the cause of low bone mineral density is due to osteoporosis or osteomalacia.
Thus, these challenges might hamper the growth of body composition and analyzers market. Necessary steps must be taken to reduce the machine error and for employing trained staffs
On the basis of product type, the market is segmented into bio impedance analyzers (BIA), skinfold caliper, dual energy x-ray absorptiometry (DEXA), air displacement plethysmography (ADP), others. The BIA analyzer is sub-segmented into single frequency BIA and multi frequency BIA. In 2019, bio impedance analyzers segment is expected to dominate the Europe body composition analyzers market with 42.1% market share and is expected to reach USD 355.99 million by 2026 from USD 151.30 million in 2018, growing at the highest CAGR of 11.4% in the forecast period of 2019 to 2026.
On the basis of compartment model type, the market is segmented into two-compartment model, three-compartment model, multi-compartment model. In 2019, two-compartment model segment is expected to dominate the Europe body composition analyzers market with 47.6% market share and is expected to reach USD 375.75 million by 2026 from USD 172.76 million in 2018, growing with a CAGR of 10.3% in the forecast period of 2019 to 2026. Howerver, Multi-compartment models segments are growing at the highest CAGR of 11.7% in the forecast period of 2019 to 2026.
On the basis of end-user, the market is segmented into hospitals & clinics, health fitness club, academy, others. In 2019, health fitness club segment is expected to dominate the Europe body composition analyzers market with 49.2% market share and is expected to reach USD 414.69 million by 2026 from USD 176.68 million in 2018, growing at the highest CAGR of 11.4% in the forecast period of 2019 to 2026.
Some of the prominent players operating in this market are COSMED srl, GENERAL ELECTRIC, OMRON Corporation, seca, Tanita, Bodystat, RJL SYSTEMS Inc, Hologic Inc., Maltron International Ltd, InBody CO., Ltd, SELVAS Healthcare, Inc., beurer, LAICA S.p.A, AKERN SRL and many others.
Europe Body Composition Analyzers Market – Industry Trends and Forecast to 2028
Asia-Pacific Body Composition Analyzers – Industry Trends and Forecast to 2024
North America Body Composition Analyzers Market – Industry Trends and Forecast to 2026
Middle East and Africa Body Composition Analyzers Market – Industry Trends and Forecast to 2026
Asia-Pacific Body Composition Analyzers Market – Industry Trends and Forecast to 2027
Global Body Composition Analyzers Market – Industry Trends and Forecast to 2026
Body Composition Analyzers Market to Witness High Demand Due to Rising Ageing Population
Body Composition Analyzers Market is Driven by Increasing Diseases Due to Changing Lifestyle
Rising Number of Geriatric Population and Rising Obesity are expected to drive the Global Body Composition Analyzers Market in the forecast period of 2019-2026
Growing functionality of Weight Loss Clinics, transforming the market of Body Composition Analyzers