Portland, OR, Jan. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global body composition analyzers market generated $398.22 million in 2020, and is expected to hit $618.71 million by 2030, registering a CAGR of 4.5% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Rise in obese population, increase in government initiatives to promote healthy lifestyle, and surge in health awareness drive the growth of the global body composition analyzers market. On the other hand, high equipment cost and stringent regulatory framework regarding the use of body composition analyzers restrain the growth to some extent. However, rise in number of gyms and fitness clubs is anticipated to create lucrative opportunities in the industry.
Impact of COVID-19 on Body Composition Analyzers Market-
- Extended lockdowns and stay-at-home orders made it difficult for people to bask in the convenience of home-delivered food and consume carbohydrated beverages and non-healthy fat outside, especially during the initial phase of the pandemic. This factor, in turn, dwindled the demand for body composition analyzers for monitoring health throughout lockdowns, thereby, impacting the global body composition analyzers market negatively.
- However, as the global situation gets back to normalcy, the market is anticipated to recoup very soon.
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The global body composition analyzers market is analyzed across product type, end-user, and region. Based on product type, the bio-impedance analyzer segment accounted for the major share in 2020, holding more than two-fifths of the global market. The same segment would also exhibit the fastest CAGR of 5.6% throughout the forecast period. The research also analyzes segments such as dual energy X-Ray absorptiometry (DEXA) equipment, air displacement plethysmography equipment, and Hydrostatic weighing equipment.
Based on end-user, the fitness clubs & wellness centers segment generated the highest share in 2020, accounting for more than two-thirds the global market. The home users segment, however, would exhibit the fastest CAGR of 5.6% from 2021 to 2030.
Based on region, the market across North America held the lion’s share in 2020, garnering more than two-fifths of the global market. The Asia-Pacific region would cite the fastest CAGR of 5.4% by the end of 2030. The other provinces studied in the report include Europe and LAMEA.
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The key market players analyzed in the global body composition analyzers market report include COSMED Srl., Hologic, Inc., Inbody Co., Ltd., Omron Corporation, Bodystat Ltd., RJL Systems, Inc., SELVAS AI Inc. (Jawon Medical Co., Ltd.), Tanita Corporation, General Electric Company (GE Healthcare), Seca GmbH & Co.Kg. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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