The key drivers in the Body Composition Analyzers Market are growing the obese population, growing health and fitness consciousness among people, increasing government initiatives to encourage physical activity and technological advancements.
The Major Players Operating in the Body Composition Analyzers Market:
Key players in this market include Tanita Corporation (Japan), Omron Corporation (Japan), InBody Co., Ltd (South Korea), Hologic, Inc. (U.S.) and GE Healthcare (U.S.) among others. These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the Body Composition Analyzers Market.
The high cost of equipment is likely to restrict the growth of the market. Body Composition Analyzers Market are equipped with advanced features and functionalities and are therefore priced at a premium. The cost of an instrument is based on its applications. Furthermore, it is difficult for academic research laboratories to afford these systems as they have limited budgets.
The cost of air displacement plethysmography equipment ranges from USD 30,000–40,000, the purchase of which is very expensive even for health clubs. Moreover, the cost of dual-energy X-ray absorptiometry is also high. Thus, high equipment cost is likely to restrict market growth.
Geographical Detailed Analysis for Body Composition Analyzers Market:
On the basis of region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
North America is expected to account for the largest share of the Body Composition Analyzers Market. Its large share can be attributed to rising obesity rates and increasing health clubs and fitness centers in the U.S. However, the Asia-Pacific market is slated to grow at the highest CAGR during the forecast period due to a rising trend of overweight and obesity in China, and foothold of local players in Japan.
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