Market Trends of Bioimpedance Analyzers Industry
This section covers the major market trends shaping the Bioimpedance Analyzers Market according to our research experts:
Multi-frequency Bioimpedance Analysis Segment Expected to Witness the Highest Growth During the Forecast Period
Multi-frequency Bioelectrical Impedance Analysis (MF-BIA) is a relatively simple and quick method to measure body composition. It also enables the estimation of the percentage of muscle tissues, hydration levels, bone weight, metabolic rate, and fitness levels. In addition, MF-BIA devices are relatively cheap, portable, and do not require specialist training for use.
The factors propelling the growth of multi-frequency bioimpedance analyzers are increasing the utilization of these analyzers in assessing body composition and rising product launches. For instance, according to an article published by the BMC Journal, in February 2022, it has been observed that when comparing the body fat mass of COPD patients, multi-frequency bioelectrical impedance devices can be a reliable substitute. Similarly, according to an article published by Frontiers in Cardiovascular Medicine in April 2021, it has been observed that multi-frequency bioimpedance analyzers provide accurate and distinct measurements in patients with and without heart diseases. It provides a unique additional tool to aid in clinical decision-making for the patients. Thus, such evidence from increasing research studies proves the potential benefits of multi-frequency bioimpedance analyzers are likely to increase their demand, thereby fueling segment growth.
Moreover, the increasing product launches and rising company activities for the development of technologically advanced bioimpedance analyzers are expected to boost segment growth over the forecast period. For instance, in January 2022, Withings launched Withings Body Scan with multi-frequency Bioelectrical Impedance Analysis. The product contains four weight sensors and promises body weight accuracy to within 50 grams (or, for a 200-pound person, accuracy to an impressive 0.025%). The device also has 14 ITO electrodes within the platform and four stainless steel electrodes in a retractable handle. These sensors gather data for the six-lead ECG and segmental body composition analysis.
Thus, the aforementioned factors are expected to increase the demand and utilization of multi-frequency bioimpedance analyzers to assess the body composition among the population, thereby boosting segment growth over the forecast period.
North America is Expected to Hold Significant Market Share During the Forecast Period
North America is expected to account for the largest share of the bioimpedance analyzers market. The growth of the bioimpedance analyzers market in the region is attributed to various factors, such as increases in obesity rates, increasing healthcare spending, a growing number of fitness centers and health clubs, and an increasing geriatric population.
The growing geriatric population who are more likely to develop various metabolic disorders such as diabetes, Gaucher's disease, and others are expected to increase the demand for assessing body composition for further treatment, thereby boosting the market growth. For instance, in the report published by America Health Ranking 2022, there were more than 55.6 million adults aged 65 and older in the United States in 2021, and this number is expected to reach 73.1 million by 2030. Additionally, the data published in the National Library of Medicine in December 2021, mentioned that with an incidence of 1 in 300 to 500 people annually, hereditary hemochromatosis is the most prevalent autosomal recessive condition among Americans. Such prevalence of metabolic disorders is also expected to contribute to the growth of the studied market.
Furthermore, the article published in Nature Journals in April 2021 mentioned that the prevalence of metabolic disorder syndromes in Canada was 25% in 2021. Such a high prevalence of metabolic disorders is expected to contribute to the demand for bioimpedance analyzers, thereby contributing to the growth of the market in this region.
