(EMAILWIRE.COM, February 08, 2019 ) According to the new market research report "Body Composition Analyzers Market by Product (Bio-impedance analyzer/DEXA/Skinfold calipers/ADP/Hydrostatic weighing), & End-users (Hospitals/Fitness & wellness centers/Academic & Research Center/Home-users) - Analysis & Global Forecasts to 2021", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

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This report studies the global body composition analyzers market for the forecast period of 2016 to 2021. The market is expected to reach USD 668.1 Million by 2021 from USD 366.7 Million in 2016 at a CAGR of 12.7% during the forecast period. Body composition analysis is the process to evaluate the amount of fat, muscle, and bone in the body. It gives the precise measurement of body fat in relation to lean body mass. Evaluation of body composition is essential to determine the risks associated with high or low levels of body fat.

The growth of the overall body composition analyzers market can be contributed to rise in obese population across the globe, growing health and fitness consciousness among people, increasing government initiatives to encourage physical activity and technological advancements. In the coming years, the body composition analyzers market is expected to witness the highest growth rate in the Asia-Pacific region. North America is expected to account for the largest share of the global body composition analyzers market. However, inconsistency in the accuracy of different analyzers and high cost of equipment is likely to restrain the growth of the market during the forecast period.

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The demand for body composition analyzers has been on the rise due to the growing obese population across the globe. Other drivers include growing health and fitness consciousness among people, increasing government initiatives to encourage physical activity and technological advancements.

The body composition analyzers market is segmented based on product, by end users and region. By product, the market comprises of Bio-impedance analyzers, Dual energy X-ray absorptiometry (DEXA), Skinfold calipers, Air displacement plethysmography (ADP), and Hydrostatic weighing. In 2016, bio-impedance analyzer is estimated to account for the largest share of the body composition analyzer market and is expected to grow at the highest rate during the forecast period. This large share can be attributed to the simplicity, low cost, and better accuracy as compared to other body composition analyzers.

By end users, the body composition analyzers market comprises of hospitals, fitness clubs & wellness centers, academic & research centers and home users. In 2016, the hospitals segment is estimated to account for the largest share of the body composition analyzer market and is expected to grow at the highest rate during the forecast period. The growth of this segment can be attributed to the rise in osteoporosis cases, increasing adoption of body composition analyzers to assess the nutritional status in patients and increasing health consciousness among masses.

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High cost of equipment is likely to restrict the growth of the market. Body composition analyzers 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, cost of dual-energy X-ray absorptiometry is also high. Thus, high equipment cost is likely to restrict the market growth.

Key Players:
The major players in body composition analyzers market include Tanita Corporation (Japan), Omron Corporation (Japan), InBody Co., Ltd (South Korea), Hologic, Inc. (U.S.) and GE Healthcare (U.S.) among others.