Bioimpedance Analyzers Market worth $927 million

Aug 14, 2023

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02 Aug, 2023, 16:15 BST

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CHICAGO, Aug. 2, 2023 /PRNewswire/ -- In the near future, the bioimpedance analyzers industry is poised for substantial growth and innovation. Advancements in sensor technology and data processing are expected to lead to more accurate and user-friendly devices, while integration with smartphones and wearables may become increasingly common. Bioimpedance analyzers are likely to find expanded applications in healthcare, aiding in the diagnosis and management of various health conditions. Moreover, their popularity in the fitness and wellness sectors is expected to rise, empowering individuals to monitor body composition changes and set personalized health goals. As the industry expands, regulatory bodies may establish more specific guidelines, and increased market competition could drive further advancements and accessibility of these devices.

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 according to a new report by MarketsandMarkets™. The growth of this market is majorly driven by rising initiatives by government in promoting healthy lifestyle to curb obesity, growing number of gyms and wellness centers, strong presence of local players in China, and innovation in bioimpedance analyzers technology by integrating with wearable devices.

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Bioimpedance Analyzers Market Scope:

Report Coverage

Details

Market Revenue in 2023

$564 million

Estimated Value by 2028

$927 million

Growth Rate

Poised to grow at a CAGR of 10.4%

Market Size Available for

2021–2028

Forecast Period

2023–2028

Forecast Units

Value (USD Million)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Product, Modality, Usage Type, Application, and End User

Geographies Covered

North America, Europe, Asia Pacific, Rest of the World

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Integration with wearable devices

Key Market Drivers

Increasing prevalence of lifestyle diseases

Multi-frequency bioimpedance analyzers segment is expected to account for the largest share in 2022.

The bioimpedance analyzers market, by product, has been segmented 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 is due to the accurate and precise measurements as compared to single and dual frequency bioimpedance analyzers.

The professional grade bioimpedance analyzers segment held the largest market share in the bioimpedance analyzers market.

By usage type, the global bioimpedance analyzers market is broadly segmented into into consumer-grade and professional-grade bioimpedance analyzers. The professional grade bioimpedance analyzers segment accounted for the largest share of the market in 2022. The large share of this segment can be attributed to various factors, such as rising fitness awareness, growing number of obese population, and the growing number of hospitals which is the major end user for professional-grade bioimpedance analyzers.

North America dominates the global bioimpedance analyzers market

Based on the region, the bioimpedance analyzers market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America market is driven by rising adoption of bioimpedance analyzers by atheletes to track progress and fitness initiatives by government and local groups. The Asia Pacific segment is projected to register the highest CAGR during the forecast period. The presence of a large population base, strong presence of local players, and increasing rate of obesity are some of the major factors driving the growth of this regional market.

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Bioimpedance Analyzers Market Dynamics:

Drivers:

Restraints:

Opportunities:

Challenges:

Key Market Players:

Major players in bioimpedance analyzers market include OMRON Corporation (Japan), Tanita Corporation (Japan), InBody (South Korea), RJL Systems (US), and seca GmbH & Co. KG (Germany).

Recent Developments:

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Bioimpedance Analyzers Market Advantages:

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