Body fat measurement industry to collect huge revenue via healthcare applications over 2016-2024, U.S. to drive the regional landscape
High awareness about health & fitness along with the rise in the number of gyms & health clubs will spur body fat measurement market growth. Rising cases of metabolic dysfunctions and obesity along with high demand for modern BIA equipment will contribute remarkably towards the business revenue. As per CDC (Centers for disease control and prevention) over 36.5% of adult population in the U.S. were obese during the period of 2011-2014 and the projected overall medical costs in the country amounted to USD 147 billion in 2008. According to the Global Market Insights, Inc., “Body fat measurement industry revenue, worth USD 402.6 million in 2015, is set to hit USD 798 million by 2024. “
Strong economic development along with heavy healthcare funding across the developing nations is expected to sketch a new path for body fat measurement industry. Hefty utilization of DEXA bone densitometers to check body composition and high usage of four-eight sensors to improve the accuracy of the medical tests will create an escalated demand for the systems. Life threatening disorders such as cardiac arrests, strokes, and diabetes will further boost the industry trends over the years ahead.
U.S. Body Fat Measurement Market size, by Product, 2012- 2024 (USD Mn)
Taking into consideration the topographical landscape, U.S. body fat measurement industry, which accumulated a revenue of over USD 146 million in 2015, is predicted to hit USD 274 million by 2024. Large patient population affected by obesity and increase in the percentage of people undergoing fitness training activities to remain healthy will drive the regional share.
Asia Pacific body fat measurement market is predicted to grow at an annual rate of 8.9% over the coming seven years, supported by high purchasing power along with heavy investments across healthcare sector. Japan, India, and China are likely to be the major regional revenue drivers.
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Body fat measurement industry size in Europe, evaluated at USD 126.7 million in 2015, is forecast to observe a noticeable expansion over the coming years. The growth can be attributed to favorable government policies predicted to build a strong foundation/base for healthcare sector. UK and Germany are projected to drive the regional growth.
Dual Emission X-ray Absorptiometry, Bioimpedance Analyzers, Air Displacement Plethysmography, Hydrostatic Weighing, and Body Fat Skinfold Calipers are the key products of body fat measurement industry. Bioimpedance analyzers, which amassed a revenue of USD 144 million in 2015, are expected to significantly drive body fat measurement market share over the next few years. Introduction of new technologies to enhance the level of accuracy along with effective caliper & hydrostatic weighing blend will drive the product demand.
Market players will try to enhance their geographical presence and ROI through product differentiation and high investments in R&D activities for introducing new/additional product features. AccuFitness LLC, L’Accessorio Nuclear S.r.l., GE Healthcare, COSMED, Jawon Medical Company Limited, Hologic Incorporation, Beurer GmbH, Inbody Company Limited, The Diagnostic Medical Systems Group, Tanita Corporation, Exertech, and Omron Global are the major participants of body fat measurement industry.
Author Name :Dhananjay Punekar