Market for Body Fat Measurement is Expected to Grow at a 6.6% CAGR by 2033 | FMI

The body fat measurement market in a recent report. As per the report, the market holds the potential to register a 6.6% CAGR through 2033. Sales in the market are anticipated to reach US$ 1283.85 million by 2023, from US$ 677.55 million in 2022.

The manufacturers of the body fat measurement devices can also gain while keeping investments into BIA to offer lucrative opportunities for revenue generation. Yet the shift towards DEXA diversification may generate more performance since adoption of the device is high for this particular market.

Although a plethora of end users emerge in the body fat measurement device market, hospitals and clinics are projected to lead through 2033. Highly effective collaboration with the hospitals and clinics as well as collaborations between gymnasiums form great means of assessing market size.

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One of the main drivers for these devices is rising obesity among mobile millennial individuals balancing a fast-paced and sedentary lifestyle. Because millennials share this dual balance between health and technology awareness, manufacturers view wearable as an appealing route to enter the stream. In addition to wearable technology, manufacturers has also concentrated on increasing the accuracy of these devices aimed at enhancing precise patient outcomes. But the slow-paced growth is limited by some market restraints.

Cultural limitations and stigma around the use of body fat analyzers may not be that prominent of a restraint. However, the limited availability of these devices in developing countries may not offer cost leadership to local players. As a result, high cost, in turn, is a deal breaker for end users operating at low and mid-level budgets.

Lack of awareness pertaining to such devices further prevent players from the developed markets from penetrating developing markets. All-in-all, the market scenario looks promising with the anticipated adoption of these devices in hospitals and fitness centers.

Key Highlights of the Body Fat Measurement Market

• The body fat measurement market was valued at US$ 492.22 million in 2018.
• North America is the leading market with a share of 33% through 2033.
• Asia Pacific holds the prominent CAGR of 8% through 2033.
• BIA is likely to account for a 22% share of the market.
• Dual-energy X-ray absorptiometry is one of the significant product types with high growth potential.

Top Body Fat Measurement Market Players

The key players in the body fat measurement market deploy numerous strategies as a resort to market sizing. Key strategies followed by players include entering into partnership agreements, acquisitions, mergers, and expansions into new markets.

Product diversification is a crucial key to entering the developing markets for manufacturers of body fat measurement devices. In addition to this, collaborations with key end users can bode well for the market players during the forecast period.

In October 2022, Inbody Ltd. entered into a partnership with iLoveKickboxing for offering on-site body composition testing at the United States and Canada locations.

In January 2022, Inbody Ltd. collaborated with Orangetheory Fitness for providing reliable and accurate body composition information across its chain of studios.

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