Bioimpedance Analyzers Market Size, Share, Growth Analysis, By Product(Multi-frequency Bioimpedance Analyzers, Single-frequency Bioimpedance Analyzers), By Modality(Wired Bioimpedance Analyzers, Wireless Bioimpedance Analyzers), By Usage Type(Consumer-grade Bioimpedance Analyzers, Professional-grade Bioimpedance Analyzers), By Application(Whole-body Measurement, Segmental Body Measurement), By End User(Hospitals & Clinics, Fitness Clubs & Wellness Centers), By Region(North America, Europe) - Industry Forecast 2024-2031

Bioimpedance Analyzers Market Competitive Landscape

To understand the competitive landscape, we are analyzing key Bioimpedance Analyzers Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Bioimpedance Analyzers Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

• bioimpedance analyzers market in terms of revenue was estimated to be worth $564 million in 2023 and is poised to reach $927 million by 2028, growing at a CAGR of 10.4% from 2023 to 2028. The growth in this market is attributed to the growing prevalence of diabetes, the global increase in the number of hospitals and fitness clubs, and the high rate of obese population. However, alternative methods or techniques restrain the growth of this market.
• Bioimpedance Analyzers Market Dynamics
• DRIVER: Increasing prevalence of lifestyle diseases
• The rising prevalence of various lifestyle diseases, such as obesity, high blood pressure, and diabetes, is probably due to unhealthy lifestyles, such as sedentary work environments, eating more junk food, and increased mobility automation.
• By 2035, more than 4 billion people, over 50% of the global population, may be affected by obesity, up from 2.6 billion in 2020. Obesity rates, with a BMI of 30 or higher, are anticipated to rise from 14% to 24%, impacting nearly 2 billion individuals. Urgent action is needed to address this global health challenge.
• RESTRAINT: High cost of analyzers
• The smaller healthcare facilities, clinics, and resource-constrained regions will get limited by the high cost of analyzers. Depending on the features, capabilities, and frequency, bioimpedance analyzers can range in pricing. For some healthcare facilities, fitness centers, and research institutions, especially smaller or resource-constrained organizations, the cost of acquiring and maintaining these devices can be a significant barrier. The price of bioimpedance analyzers can range from USD 2,000- USD 30,000.
• OPPORTUNITY: Integration with wearable devices
• Wearable devices, such as fitness trackers or smartwatches, to monitor body composition and hydration status could be integrated with bioimpedance analyzers. This integration will allow for real-time data collection and analysis, which will enable individuals to track their health parameters throughout the day and make informed decisions about their lifestyle and behavior.
• CHALLENGE: Inconsistency in the accuracy of different bioimpedance analyzers
• Although valuable information about body composition and hydration status can be obtained with bioimpedance analyzers, their accuracy may vary depending on age, gender, body type, and hydration level. They may not be as accurate as gold standard methods like DEXA or hydrostatic weighing in some cases. The number represents an estimate of the total body fat percentage, even though one gets an accurate reading on a bioimpedance scale. Most of the scales also cannot tell where fat is located in the body. Even though many factors can affect reading accuracy, a regular BIA scale can show changes in body fat over time. However, the obtained number may not be accurate but can still track changes to the body composition. This limitation can deter healthcare professionals and researchers who require exact measurements.
• BIOIMPEDANCE ANALYZERS ECOSYSTEM
• Prominent companies in this market include well-established, financially stable manufacturers of bioimpedance analyzers. These companies have been operating in the market for several years and possess diversified state-of-the-art technologies, product portfolios, and strong global sales and marketing networks.
• In 2022, multi-frequency bioimpedance analyzers segment to observe the highest growth rate of the bioimpedance analyzers industry, by product.
• Based on product, the bioimpedance analyzers market is classified into multi-frequency, single-frequency, and dual-frequency bioimpedance analyzers. In 2022, the multi-frequency bioimpedance analyzers segment dominated the products market. This segment is also estimated to grow at the highest CAGR during the forecast period. The large share can be attributed to features like advanced tissue differentiation and integration with other technologies.
• “In 2022, segmental body measurement segment to dominate the bioimpedance analyzers industry, by application.
• Based on application, the bioimpedance analyzers market is segmented into segmental body measurement and whole-body measurement. The segmental body measurement segment accounted for the largest share of the market in 2022. Also, this segment is estimated to witness the highest growth during the forecast period. The large share is due to tracking changes in specific body segments by athletes and monitoring the effectiveness of the training programs.
• In 2022, North America to dominate in bioimpedance analyzers industry.
• The global bioimpedance analyzers market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is expected to dominate during the forecast period, primarily due to the high promotion of healthy lifestyles, sedentary work life, and large population consuming junk food.
• Recent Developments of Bioimpedance Analyzers Industry
• In 2023, Bodystat Ltd. (UK) launched the Multiscan 5000, which incorporates the latest state-of-the-art bioelectrical impedance spectroscopy (BIS) technology based on direct digital synthesis, digital signal processing, and active shielding technology.
• In 2023, InBody Co., Ltd. (South Korea) announced it would supply the US Marine Corps with body composition analysis devices. The US Marine Corps announced refinements in its body composition assessment methods using the InBody 770 analyzer.
• In 2022, InBody Co., Ltd. (South Korea) partnered with iLoveKickboxing (US). The partnership offered iLoveKickboxing members access to high-quality data about their body fat percentage, muscle mass, and other biometrics. It enabled them to monitor changes over time via the InBody App.
• KEY MARKET SEGMENTS
• By Product
• Multi-frequency Bioimpedance Analyzers
• Single-frequency Bioimpedance Analyzers
• Dual-frequency Bioimpedance Analyzer
• By Modality
• Wired Bioimpedance Analyzers
• Wireless Bioimpedance Analyzers
• By Usage Type
• Consumer-grade Bioimpedance Analyzers
• Professional-grade Bioimpedance Analyzers
• By Application
• Whole-body Measurement
• Segmental Body Measurement
• By End User
• Hospitals & Clinics
• Fitness Clubs & Wellness Centers
• Home Users
• Other End Users
• By Region
• North America
• Europe
• Asia Pacific
• Rest of the World
• Key Players
• OMRON Corporation
• Tanita Corporation
• InBody
• RJL Systems
• Seca GmbH & Co. KG