Bioimpedance Analyzers Market by Type (Single, Multi & Dual Frequency), Modality (Wired, Wireless), Application (Segmental Body Measurement, Whole Body Measurement), End User (Fitness Clubs, Home Users, Hospitals), & Region- Global Forecast to 2028
The global 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 new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. 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.
Attractive Opportunities in the Bioimpedance Analyzers Market
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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.
According to the World Obesity Atlas 2023, over 4 billion people may be affected by 2035, compared with over 2.6 billion in 2020. Thus, there is an increase from 38% of the world’s population in 2020 to over 50% by 2035. The prevalence of obesity (BMI ≥30kg/m²) alone is anticipated to rise from 14% to 24% of the population over the same period, affecting nearly 2 billion adults, children, and adolescents by 2035.
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.
Although bioimpedance monitoring is not a new concept, wearable bioimpedance monitoring for chronic conditions is a relatively new field [Source: Journal of Medical Internet Research (JMIR)].
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. Prominent companies in this market include OMRON Corporation (Japan), Tanita Corporation (Japan), InBody (South Korea), RJL Systems (US), and Seca GmbH & Co. KG (Germany).
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.
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The bioimpedance analyzers market is dominated by players such as OMRON Corporation (Japan), Tanita Corporation (Japan), InBody (South Korea), RJL Systems (US), and Seca GmbH & Co. KG (Germany)
Scope of the Bioimpedance Analyzers Industry
Report Metric |
Details |
Market Revenue in 2023 |
$564 million |
Projected Revenue by 2028 |
$927 million |
Revenue Rate |
Poised to Grow at a CAGR of 10.4% |
Market Driver |
Increasing prevalence of lifestyle diseases |
Market Opportunity |
Integration with wearable devices |
This research report categorizes the bioimpedance analyzers market to forecast revenue and analyze trends in each of the following submarkets:
By Region |
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By Product |
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By Modality |
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By Usage Type |
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By Application |
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By End User |
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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.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global bioimpedance analyzers market?
The global bioimpedance analyzers market boasts a total revenue value of $927 million by 2028.
What is the estimated growth rate (CAGR) of the global bioimpedance analyzers market?
The global bioimpedance analyzers market has an estimated compound annual growth rate (CAGR) of 10.4% and a revenue size in the region of $564 million in 2023.
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The objective of the study is to analyze the key market dynamics, such as drivers, opportunities, challenges, restraints, and key player strategies. To track company developments such as acquisitions, product launches, expansions, collaborations, agreements, and partnerships of the leading players, the competitive landscape of the bioimpedance analyzers market to analyze market players on various parameters within the broad categories of business and product strategy. Top-down and bottom-up approaches were used to estimate the market size. To estimate the market size of segments and subsegments, the market breakdown and data triangulation were used.
The four steps involved in estimating the market size are
Collecting Secondary Data
The secondary research data collection process involves the usage of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B), annual reports, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the bioimpedance analyzers market. A database of the key industry leaders was also prepared using secondary research.
Collecting Primary Data
The primary research data was conducted after acquiring knowledge about the bioimpedance analyzers market scenario through secondary research. A significant number of primary interviews were conducted with stakeholders from both the demand side (such as hospitals, clinics, fitness centers, home users, and academic & research institutes) and supply side (such as included various industry experts, such as Directors, Chief X Officers (CXOs), Vice Presidents (VPs) from business development, marketing, and product development teams, product manufacturers, wholesalers, channel partners, and distributors) across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Approximately 40% of the primary interviews were conducted with stakeholders from the demand side, while those from the supply side accounted for the remaining 60%. Primary data for this report was collected through questionnaires, emails, and telephonic interviews.
A breakdown of the primary respondents is provided below:
Breakdown of Primary Participants
Note 1: *Others include sales managers, marketing managers, and product managers.
Note 2: Tiers are defined based on a company’s total revenue as of 2022: Tier 1=> USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3=< USD 500 million.
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Market Size Estimation
All major product manufacturers offering various bioimpedance analyzers were identified at the global/regional level. Revenue mapping was done for the major players and was extrapolated to arrive at the global market value of each type of segment. The market value bioimpedance analyzers market was also split into various segments and subsegments at the region and country level based on:
- Product mapping of various manufacturers for each type of bioimpedance analyzers market at the regional and country-level
- Relative adoption pattern of each bioimpedance analyzers market among key application segments at the regional and/or country-level
- Detailed primary research to gather qualitative and quantitative information related to segments and subsegments at the regional and/or country level.
- Detailed secondary research to gauge the prevailing market trends at the regional and/or country-level
Global Bioimpedance analyzers Market Size: Top Down Approach
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Global Bioimpedance analyzers Market Size: Bottom-Up Approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the Bioimpedance analyzers industry.
Market Definition
Bioimpedance analysis (also known as bioelectric impedance analysis) is a method of assessing body composition, which measures body fat in relation to lean body mass. It determines the resistance to the flow of electric current as it passes through the body. Bioimpedance analyzers are medical devices that are used to measure the impedance of biological tissues. The opposition that tissue or substance presents to the flow of an alternating electrical current is known as impedance.
Key Stakeholders
- Senior Management
- Finance/Procurement Department
- Nutritionist/Dietitian/Physiotherapist/Fitness Trainer
Report Objectives
- To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To define, describe, segment, and forecast the bioimpedance analyzers market by product, modality, usage type, application, end-user, and region
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall bioimpedance analyzers market
- To forecast the size of the bioimpedance analyzers market in five main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific, Rest of the world.
- To profile key players in the bioimpedance analyzers market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments, such as acquisitions; product launches; expansions; collaborations, agreements, & partnerships; and R&D activities of the leading players in the bioimpedance analyzers market.
- To benchmark players within the bioimpedance analyzers market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of the Bioimpedance analyzers market
- Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the Bioimpedance Analyzers Market
Growth opportunities and latent adjacency in Bioimpedance Analyzers Market