Market Research Report
Bioimpedance Analyzers Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)
|Bioimpedance Analyzers Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)|
Published: April 28, 2022
Mordor Intelligence Pvt Ltd
Content info: 114 Pages
Delivery time: 2-3 business days
The bioimpedance analyzers market is expected to register a CAGR of 10.2% during the forecast period, 2021-2026.
The COVID-19 pandemic is expected to have a significant impact on market growth. In July 2020, medRxiv published a research paper suggesting obesity can be a viable risk factor for COVID-19. Therefore, the demand for bioimpedance analyzers is likely to be increased, as the risk of contraction COVID-19 remains high for obese patients. Additionally, due to lockdowns and work-at-home orders, people's lifestyles have become even more stationary. Also, due to lifestyle changes and increased home-delivered food, many people are consuming non-healthy food. Furthermore, many individuals are now turning toward home fitness workshops and exercise regimens with increased health consciousness. These developments are likely to affect the demand for bioimpedance analyzers.
Unhealthy lifestyles, such as consumption of junk food, deskbound work environments, and increased mobility automation have increased the prevalence of various diseases, such as high blood pressure, obesity, and diabetes.
According to the key facts published by World Health Organization (WHO) in June 2021, about 13% of the world's adult population were obese in 2016. According to a report published by WHO, obesity is termed a global epidemic; wherein approximately 55% - 60% of adults are predictable to be obese by 2030. Besides developed countries, obesity is now prevalent in middle - and low-income countries. Moreover, according to the same source, the prevalence of childhood obesity under the age of five in Africa has increased by approximately 24% in 2019 since 2000. Bioimpedance analyzers offer an accurate measurement of fat, muscle, and bone in the human body. This will fuel the growth of the bioimpedance analyzers market.
According to the Organisation for Economic Co-operation and Development (OECD) Health Policy Studies, in 2019, more than half the population was overweight in 34 out of 36 OECD countries. Almost one in four people was estimated to be obese. Moreover, according to the OECD analysis, overweight and related diseases will reduce life expectancy by about three years across Organisation for Economic Co-operation and Development (OECD), European Union 28, and the Group of Twenty (G20) between 2020 to 2050. The study further proposed that a rise in the number of people with a high body-mass index (BMI) is likely to affect health budgets for many countries. This is mainly because of the high treatment costs of chronic diseases which arise due to being overweight.
Moreover, OECD countries were estimated to spend about 8% - 9% of their health budget to treat overweight-related diseases. Many governments are thus initiating awareness programs through which obesity can be challenged, which is likely to increase the demand for bioimpedance analyzers. Although the technology is improving, it is difficult to attain accurate body fat measurements from most commercially available bioimpedance analyzers as these analyzers do not detect a large amount of fat underneath the skin. Moreover, body impedance varies among different ethnic groups and affects the accuracy of bioimpedance analyzers.
Multi-frequency bioelectrical impedance analysis (MF-BIA) is a relatively simple, 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 MF-BIA involves measuring impedance at multiple frequencies (three, five, or six different frequencies). As a result, the MF-BIA provides an exceptional level of accuracy compared to single frequency monitors. The test is done by placing two electrodes on a patient's right hand and foot. A low-level and impalpable electrical current is sent through the patient's body. The amount of water composition forces the flow of the current through a patient's body. The MF-BIA essentially measures how this signal is hindered through different types of tissue. Generally, the tissues that contain large amounts of fluid and electrolytes have high conductivity.
On the other hand, bone and fat slow the signal down. Since bioelectrical impedance analysis is used to determine the resistance to flow of the current as it passes through the body, it can provide estimates of body water from which body fat is then calculated using specific tools. Many companies like InBody Technology and Tanita manufacture MF-BIA devices.
For example, one of Tanita's products, MC-780U, can be used to measure a patient's bioimpedance. This can then measure muscle quality, muscle mass, visceral fat, and body fat percentage. Additionally, MF-BIA can be used in various settings. Hospitals are one of the most significant users of these devices. These meters can easily measure parameters such as fat mass, muscle mass, and body water. Devices like these are expected to see increased demand due to their convenience.
The North American region is expected to account for the largest share of the bioimpedance analyzers market. The growth of bioimpedance analyzers in the region has been attributed to various factors, such as increased obesity rates and the number of fitness centers and health clubs.
The United States contributes a significant share in the North American bioimpedance analyzers market. In September 2020, the Centers for Disease Control and Prevention (CDC) stated that adult obesity is increasing, and ethnic and racial disparities persist due to the current circumstances of work from home, less physical activities, and financial and other stress among the adult population. According to the CDC finding in 2017-18, around 42.5% of the US adults aged 20 and over have obesity. This high prevalence of obesity in the US population is expected to create demand for bioimpedance analyzers, further fueling the need for the market.
As per the data published in the State of Obesity 2018 report, obesity costs in the United States were USD 149 billion in medical expenses annually. Moreover, the study found that about half of these expenses were paid for by publicly financed Medicaid and Medicare programs. Lesser physical activity and higher consumption of fast food have led to the increasing trends in obesity. They are projected to fuel the demand for bioimpedance analyzers in the coming years.
The bioimpedance analyzers market is highly competitive and consists of a number of major players. Companies like Tanita Corporation, Akern, Biodynamics Corporation, Bioparhom, Biotekna, Bodystat Ltd, Charder Electronic Co. Ltd, EVOLT 360, Fook Tin Group Holding Ltd, InBody Co. Ltd, Lumsail Industrial Inc., Maltron International, Omron Corporation, RJL Systems, SECA GMBH & CO. KG, SELVAS Healthcare Inc., Sino-Hero, and Withings hold substantial market shares.