The rising incidences of metabolic disorders along with a steep rise in the obese population is anticipated to benefit body fat measurement market development. For instance, the obese population across the globe has risen tremendously since 1980, with a record of more than 1.4 billion obese adults in 2014. In addition, innovations in BIA equipment along with growing consumer consciousness regarding the benefits of health & fitness is expected to create a strong platform for the expansion of body fat measurement industry. According to Global Market Insights, Inc., “Body fat measurement market value, which was evaluated at USD 402.6 million in 2015, is projected to hit USD 798 million by 2024.”
Taking into consideration the geographical trends, Europe body fat measurement industry, which produced a revenue of nearly USD 126.7 million in 2015, is expected to experience a notable surge over the coming seven years. UK and Germany body fat measurement markets, which contributed nearly 14% and 23.5% respectively toward the regional revenue in 2015, are more likely to influence the business trends across Europe.
U.S. Body Fat Measurement Market size, by Product, 2012- 2024 (USD Mn)
Asia Pacific body fat measurement market is projected to register significant gains of 8.9% during 2016 to 2024. A huge patient base along with a substantial increase in the number of screening activities for checking obesity levels will lucratively impact the business growth graph. Mounting presence of reputed BIA equipment manufacturers across the region coupled with the rise in consumer disposable incomes will further boost the regional revenue. China and Japan are predicted to majorly drive the regional share, fueled by the strong economic development in both the countries.
Popular use of ADP (Air Displacement Plethysmography) and DEXA (Dual Emission X-ray Absorptiometry) products across the Asia Pacific is also expected to create lucrative avenues for the industry players to make heavy investments and thus expand their business across the continent. The enforcement of beneficial reforms such as the twelfth five-year plan by the Chinese government to improve the healthcare services are expected to boost body fat measurement market trends across the region.
U.S. body fat measurement industry size, which was evaluated at over USD 146 million in 2015, is slated to favorably influence the business trends over the next few years. The industry is projected to surpass USD 274 million by 2024. The rise in the proportion of metabolism associated ailments along with the surge in life-threatening disorders such as heart problems, stroke, and diabetes is forecast to benefit the business progression. According to the observations recorded by the Central Drugs Standard Control Organization, more than 33% of the U.S. population were obese in 2014.
Governments in various regions of Europe and North America have introduced several schemes to combat and overcome the obesity problems, thereby impelling body fat measurement market.
Dual emission x-ray absorptiometry, air displacement plethysmography, body fat skinfold calipers, bioimpedance analyzers, and hydrostatic weighing are the major products of body fat measurement market. Bioimpedance analyzers, which contributed nearly USD 144 million toward body fat measurement market share in 2015, are expected to further drive the industry growth over the span of the next few years. The development can be credited to technological breakthroughs that suitably help to raise the body fat measurement accuracy of the product.
Mounting use of DEXA (Dual Emission X-ray Absorptiometry) bone densitometers to check the body composition has led to high demand for DEXA software. Additional testing abilities of the product are forecast to beneficially influence the development of body fat measurement industry over the coming timeframe.
Global body fat measurement industry is highly fragmented with heavy participation of both the SMBs and the large enterprises, thus leading to an aggressive competitive landscape pertaining to market share as well as sustainability. Industry participants are focusing on implementing key business growth strategies such as product benchmarking and value differentiation to stay ahead of the competition. Omron Global, Hologic Incorporation, Diagnostic Medical Systems (DMS) Group, Jawon Medical Company Limited, L’Accessorio Nucleare S.r.l., Beurer GmbH, AccuFitness LLC, Inbody Company Limited, GE Healthcare, Tanita Corporation, and COSMED are the major participants of body fat measurement market.