The body fat measurement market in a recent report. As per the report, the market can register a 6.6% CAGR through 2033. Sales in the market are anticipated to reach US$ 1283.85 million by 2023, from US$ 677.55 million in 2022.
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Manufacturers of body fat measurement devices can benefit while holding their investments into BIA to gain lucrative revenue opportunities. However, diversification towards developing DEXA can increase the device’s relatively high adoption rate.
While numerous end users surface in the body fat measurement device market, hospitals and clinics are expected to reign through 2033. Effective partnerships with hospitals and clinics and collaborations with gymnasiums are potent tools for market sizing.
Increasing obesity among the millennial populace leading a fast-paced yet sedentary lifestyle is a key influence on adopting these devices. Since millennials ride the dual balance between health and technology consciousness, manufacturers find wearable an attractive passage to sweep in. Besides wearable technology, the focus on manufacturers has also been on enhancing the accuracy of these devices to promote precise patient outcomes. However, the modest growth is impeded by several restraints in the market.
The body fat measurement market has been growing steadily over the past decade due to increasing awareness about maintaining a healthy body weight and body composition.
Cultural limitations and stigma around using body fat analyzers may not be that prominent of a restraint. However, the limited availability of these devices in developing countries may not offer cost leadership to local players. As a result, high cost, in turn, is a deal breaker for end users operating at low and mid-level budgets.
Lack of awareness about such devices further prevents players from the developed markets from penetrating developing markets. All-in-all, the market scenario looks promising with the anticipated adoption of these devices in hospitals and fitness centers.
Key Highlights of the Body Fat Measurement Market
- The body fat measurement market was valued at US$ 492.22 million in 2018.
- North America is the leading market with a share of 33% through 2033.
- Asia Pacific holds a prominent CAGR of 8% through 2033.
- BIA is likely to account for a 22% share of the market.
- Dual-energy X-ray absorptiometry is one of the significant product types with high growth potential.
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Top Body Fat Measurement Market Players
The key players in the body fat measurement market deploy numerous strategies as a resort to market sizing. Players’ Key strategies include entering into partnership agreements, acquisitions, mergers, and expansions into new markets.
Product diversification is a crucial key to entering the developing markets for manufacturers of body fat measurement devices. In addition, collaborations with key end users can bode well for the market players during the forecast period.
Key Players in the Market
- GE Healthcare
- OMRON Healthcare Co., Ltd.
- The Diagnostic Medical Systems (DMS) Group
- Hologic Inc.
- Xiaomi
- Garmin Ltd.
- Beurer GmbH
- InBody Pvt. Ltd.
- AccuFitness LLC
- Bodystat
Recent Developments:
In October 2022, Inbody Ltd. entered into a partnership with iLoveKickboxing for offering on-site body composition testing at the United States and Canada locations.
In January 2022, Inbody Ltd. collaborated with Orangetheory Fitness for providing reliable and accurate body composition information across its chain of studios.
Key Segments in the Market
By Product:
- DEXA
- BIA
By End User:
- Gyms
- Fitness Centers
- Hospitals and Clinics
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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