The Global Body Fat Measurement Market is expected to reach USD 640.3 million by 2020, growing at an estimated CAGR of 8.4% from 2014 to 2020, according to a new study by Grand View Research, Inc.
The growing prevalence of obesity and other metabolism related disorders is expected to fuel demand for body weight management and body fat measurement market. The availability of a number of body fat measurement techniques & products in the market, technological developments enhancing cost effectiveness and expected implementation of market expansion plans set in place by major market players are the key factors expected to drive the growth of this market throughout the forecast period.
Global Body Fat Measurement market, by products, 2013 – 2020 (USD Million)
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Further key findings from the report suggest:
- Bioimpedance analyzers dominated the market in terms of revenue in 2013 due to the fact that they optimally combine the two major parameters for body fat measurement which are accuracy and price.
- Owing to the increasing occurrence of body weight and metabolism associated disorders and escalating negative lifestyle habits promoting overweight and obese body conditions, it is expected that the demand for BIA devices and body fat skinfold calipers will grow at a steady rate through to 2020.
- The newer technological advancement in the BIA segment making segmental body fat analysis more accurate and cost effective is also expected to boost the demand for BIA devices over the next six years. An already present high market penetration level is expected to support the growth of this segment over the longer duration
- North America accounted for the largest revenue share in the market for 2013 and accounted for over one third of the revenue generated in the global body fat measurement market. This large share can be accounted for by the presence of sizeable base of population dealing with obesity and other metabolism related disorders and technologically advanced healthcare infrastructure present in the region.
- Asia Pacific is the center of operations for a couple of major market players of this market specializing in BIA devices. It is expected that the Asia Pacific region will witness a lucrative growth throughout the forecast period. The presence of an increasingly medically aware population in the emerging economies of India and China is also expected to drive regional market growth over the forecast period.
- Some key participants in the body fat measurement market include Beurer GmbH, Jawon Medical Co. Ltd., Omron Global Healthcare Business, Tanita Corporation, Inbody Co. Ltd., GE Healthcare, L’Accessorio Nucleare S.r.l., The Diagnostic Medical Systems (DMS) Group, Hologic Inc., COSMED S.r.l., Exertech and AccuFitness LLC.
For more information: http://www.grandviewresearch.com