Market Trends of Global Metabolic Testing Industry
This section covers the major market trends shaping the Metabolic Testing Market according to our research experts:
Body Composition Analyzers are Expected to Hold a Significant Market Share in the Market Over the Forecast Period
Body composition analyzers (BCA) measure various body components and offer their respective values at the examination location. Body composition analyzers have numerous uses in sports and medical research, particularly causal association studies in anthropology, nutrition, epidemiology, etc. The segment is driven by rising in the prevalence of lifestyle diseases and product launches by the key market players.
According to the World Obesity Atlas 2022, 40 million females will be diagnosed with obesity by 2030 in India. Furthermore, because emerging countries have a larger obesity illness burden, the market for fat monitoring equipment such as body composition analyzers is likely to rise.
Furthermore, studies demonstrating the efficacy of body composition analyzers expand the opportunities for segment growth because people are becoming more aware of their nutritional intake, increasing the demand for the BCA, thereby fueling the market growth over the forecast period. For instance, as per the article published in May 2022 in PubMed, the study depicted the importance of assessing body composition and its usefulness in predicting cardiopulmonary fitness as an indicator of overall health. Furthermore, implementing important strategic plans such as mergers and acquisitions to extend the product portfolio and regional presence will fuel market growth. For instance, in April 2022, InBody introduced the BWA 2.0 body water analyzer, which gives statistics on how body composition and body water affect well-being. This new professional-grade device expands on the InBody S10's outputs, which use attachable electrodes to assess body composition and body water in individuals who are immobilized or have amputated limbs. Therefore, the increasing prevalence of lifestyle diseases such as cardiovascular disease, obesity, and diabetes, technological advancements, and body composition analyzer product launches are the key driving factors in the segment growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant market share in the metabolic testing market due to the robust healthcare infrastructure, technological advancements in metabolic testing, increase in awareness of metabolic diseases and surge in lifestyle diseases such as cardiovascular diseases, obesity, and type 2 diabetes in the region. For instance, as per the IDF Diabetes Atlas 10th edition published in 2021, the number of people living with diabetes in Mexico was 14,123.2 thousand in 2021. This number is estimated to increase to 17,062.7 thousand by 2045. Similarly, according to the same source, the diabetic population in the United States was 32,215.3 thousand in 2021. This figure is expected to rise to 36,289.9 thousand by 2045. In Canada, the number of diabetics reached 2,974 thousand in 2021. This figure is expected to rise to 3,468.5 thousand by 2045 in Canada. Hence, such an increase in metabolic diseases like diabetes is anticipated to increase the demand for metabolic testing in the region, thereby driving market growth over the forecast period.
Additionally, as per the CDC January 2023 update, nearly half of the adults in the United States (47%, or 116 million) have hypertension, defined as a systolic blood pressure greater than 130 mmHg or a diastolic blood pressure greater than 80 mmHg or are taking medication for hypertension. Moreover, investments in developing metabolic devices are expected to fuel the market growth in the studies region. For instance, in December 2022, Lumen raised USD 62M for its handheld weight-loss hardware. Lumen developed a handheld hardware device that contains a built-in sensor that measures the level of CO2 produced to determine 'metabolic fuel usage', whether the body is burning carbs or fat for fuel. It connects to a smartphone and the associated app gives personalized food, exercise, and sleep recommendations. Hence, due to the rising incidence of lifestyle disorders like diabetes, obesity, and heart disease as well as an increase in investments and fundraising to develop metabolic devices, North America is expected to hold a notable share in the market studied over the forecast period.
