Bioimpedance Analyzers Market Sluggish Growth Rate Foreseen by 2024-2033

The global bioimpedance analyzer market size was USD 0.6 billion in 2023 and it is anticipated to reach USD 1.3 billion in 2033, growing at a rate of 7.8% from 2024 to 2033.

Bioimpedance measuring devices are used to measure the level of fluids in living tissue. These devices use electrical conductivity and reactance, which is a property of an object that opposes any change in the electric current flowing through it. This type of device can provide vital information regarding fluid buildup or dehydration for athletes and those with chronic health conditions like heart disease.

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Market Trends and Drivers

Bioimpedance analyzer demand is expected to be driven primarily by the rising incidence and prevalence of metabolic disorders, including but not limited to diabetes, phenylketonuria (PKU), maple syrup urine disease (MSUD), hereditary hemochromatosis, glucose-galactose malabsorption, and Gaucher’s disease. For example, 537 million individuals worldwide, aged 20 to 79, had diabetes in 2021, according to data released by the International Diabetes Federation (IDF) in 2021. The same source also stated that it is anticipated that 783 million people worldwide will have diabetes. Furthermore, the November 2021 update to the Gaucher’s Institute article said that the global prevalence of 0.70 to 1.75 cases per 100,000 people annually is reported for both males and females with the disease.

Over the course of the forecast period, growing government programs to support healthy living, reach a healthy weight, and enhance overall wellbeing are also anticipated to fuel market expansion. For example, the National Health Service (NHS) Digital Weight Management Programme was introduced by the UK government in July 2021 and was made possible by government financing totaling EUR 12 million (USD 12.75 million). Through referrals from general practitioners (GPs) and primary care teams, this program offers free online support to those with obesity who are also diagnosed with diabetes, high blood pressure, or both conditions.

Unhealthy lifestyles, such as sedentary work environments, consumption of junk food, and increased mobility automation have increased the prevalence of certain lifestyle diseases, like obesity, high blood pressure, and diabetes. Likewise, emerging economies such as India, China, and Brazil are likely to see high growth in the bioimpedance analyzers market. This can be attributed to the increasing prevalence of lifestyle diseases, growing awareness about health and obesity, and infrastructural improvements in these countries. China is a prominent market in this regard, given its recent infrastructural improvements, rapid economic growth, rising domestic demand, and public-private initiatives to support healthcare research. China’s State Council approved the 2016-2020 National Fitness Plan, which has motivated all national fitness levels and increased sports participation. Due to these factors, the global bioimpedance market is witnessing significant growth opportunities.

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Market Restraints & Challenges

One of the primary challenges in the growth of the global bioimpedance analyzers market is inconsistency in the accuracy of different bioimpedance analyzers. Although the technology is improving, it is difficult to obtain accurate body fat measurements from most commercially available body fat analyzers. The working of analyzers comprises passing an electric current. However, a large amount of fat underneath the skin is not detected by these analyzers. Adding to that, body impedance varies among different ethnic groups and influences the accuracy of body composition analyzers.

COVID-19 Analysis

According to the International Monetary Fund (IMF), due to the epidemic of a novel coronavirus, the worldwide economy decreased by over 3.0% in 2020. Several nations were under strict lockdowns in 2020 & 2021, which have impacted the supply of raw materials. Therefore, due to this, the manufacturing activities of bioimpedance analyzer producers have ceased. While some bioimpedance analyzers are considered urgent, others have been postponed and delayed since the beginning of the global pandemic. The other aspect negatively affecting the market is the drop in the diagnosis of obesity owing to healthcare resources being reserved for COVID-19 patients. Besides, several medical device companies have suffered losses in their medical device businesses owing to the pandemic. To cite an instance, Medtronic plc announced a reduction of nearly one-third in its cardiac and vascular business sector in its 2020 quarterly financial results. Moreover, demand for bioimpedance analyzers from wellness centers has been dropped amid their stopped operations, due to government-imposed lockdown measures. This is anticipated to hamper the bioimpedance market growth during the forecast period.

Bioimpedance Analyzers Market Segmentation

The report analyses the bioimpedance analyzers market based on product, modality, application, end-user, and region.

Bioimpedance Analyzers Market by Product

On the basis of type, it is segmented into multi-frequency analyzers, single-frequency analyzers, and dual-frequency analyzers. The multi-frequency analyzers segment is likely to dominate the market during the forecast period. Multi-frequency bioelectrical impedance analysis (MF-BIA) may be a relatively simple, quick method to measure body composition, for instance, fat mass and fat-free mass, having the advantage of being portable, relatively cheap, and not requiring specialist training for use. The growth of this segment can be attributed to the increasing preference for multi-frequency bioimpedance analyzers is high among end-users as they are both segmental and whole-body measurements, unlike single-frequency bioimpedance analyzers.

Bioimpedance Analyzers Market by Modality

Based on modality, it is segmented into wired bioimpedance analyzers and wireless bioimpedance analyzers. The wired bioimpedance analyzers are likely to dominate the market during the forecast period. The key factors boosting the market growth are the increasing prevalence of lifestyle diseases coupled with initiatives by governments and private organizations to promote healthy lifestyles is boosting the growth of the segment in the market. The impedance analyzer measures the difference between the maximum current and the minimum current, but also the time difference between the potential and the current wave-forms.

Bioimpedance Analyzers Market by Application

By application, it is segmented into whole-body measurement and segmental body measurement. The demand in the bioimpedance market for segmental body measurement is expected to grow significantly in the forecast period. The segmental body measurement is expected to hold a significant share of the market in 2023 due to the increasing prevalence of obesity and metabolic disorders. Thus, the demand in the bioimpedance market would rise during the forecast period.

Bioimpedance Analyzers Market by End User

By end user, it is divided into fitness clubs and wellness centers, home users, hospitals, and others. The demand for bioimpedance analyzers in fitness clubs and wellness centers is expected to grow significantly during the forecast period. The increasing number of fitness clubs and wellness centers and the growing awareness about health and fitness across the globe are boosting the growth of the market.

Geographical Analysis of Bioimpedance Analyzers Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. It is anticipated that North America will hold the most market share for bioimpedance analyzers. Numerous reasons, including rising obesity rates, rising healthcare costs, an increase in the number of exercise facilities and health clubs, and an aging population, are contributing to the growth of the bioimpedance analyzers market in the region.

The need for body composition assessments for additional treatment is anticipated to rise due to the aging population’s increased risk of developing a number of metabolic diseases, including diabetes, Gaucher’s disease, and others. This will accelerate the market’s expansion. For example, according to the America Health Ranking 2022 study, there were over 55.6 million persons in the US who were 65 years of age or older in 2021; by 2030, this number is predicted to rise to 73.1 million. Furthermore, according to statistics released by the National Library of Medicine in December 2021, hereditary hemochromatosis is the most common autosomal recessive disorder in the United States, affecting 1 in 300 to 500 individuals annually. In addition, it was stated in the April 2021 Nature Journals report that 25% of Canadians had a metabolic disease syndrome in 2021. Because metabolic illnesses are so common, there should be a rise in demand for bioimpedance analyzers, which will fuel the market’s expansion in this area.

Major Players of the Global Bioimpedance Analyzers Market

The global bioimpedance analyzers market report includes players such as Omron Corporation, Tanita Corporation, InBody, RJL Systems, seca GmbH & Co. KG, EVOLT 360, SELVAS Healthcare, Charder Electronic Co. Ltd., Fook Tin Group Holding Ltd., Bodystat Ltd., Maltron International, Biotekna, Withings, Biodynamics Corporation, Akern, Xiaomi, Sino-Hero (Shenzhen) Bio-Medical Electronics Co., Ltd., and Bioparhom among others.

Moreover, the market’s expansion is anticipated to be aided throughout the forecast period by the growing rate of technological breakthroughs and the rising number of product releases. For example, BodyPedia used Kickstarter to fund the development of their 97% accurate smart scale for measuring body fat in November 2021 to revive bioelectrical impendence analysis technology. The reputation of bio-electrical impedance analysis technology is being restored by this instrument, which gives precise body composition reports together with body circumference measurements.

Recent Developments

The Multiscan 5000, developed by Bodystat Ltd. (UK) in 2023, features the most recent advancements in bioelectrical impedance spectroscopy (BIS) technology, which are based on digital signal processing, active shielding, and direct digital synthesis.

The South Korean company InBody Co., Ltd. declared in 2023 that it will provide body composition analysis equipment to the US Marine Corps. The US Marine Corps revealed improvements to their InBody 770 analyzer-based body composition evaluation techniques.

InBody Co., Ltd. (South Korea) and iLoveKickboxing (US) partnered in 2022. Members of iLoveKickboxing now have access to high-quality information on their body fat percentage, muscle mass, and other biometrics thanks to the partnership. It allowed them to use the InBody App to track changes over time.

In January 2022, Withings, introduced the Withings Body Scan, a novel smart scale at the Consumer Electronics Show. The scale comprises ECG capabilities via a series of electrodes and four weight sensors.

In August 2021, Samsung, introduced its latest ‘Galaxy Watch 4 Classic’ and Galaxy Watch 4’ in India. The company has included the body composition capability for the first time in this new series to revolutionize the smartwatch industry.

In June 2021, Seca, announced a strategic marketplace partnership with PointClickCare Technologies. Through the partnership, the companies plan to deliver a seamless integration that will improve provider and patient safety by tightly integrating to reduce the risk of data transfer, transcription and conversation errors, and costly time delays.

In January 2020, Inbody USA officially launched the InBody 970 at CES Las Vegas. The InBody 970, paired with the Yscope, uses new patented technology to analyze and categorize abdominal fat and total body water.

In May 2019, Fresenius Medical Care, announced that the companyplans to invest around 60 million euros in Unicyte AG which is an independent affiliate of Fresenius Medical Care.

Bioimpedance Analyzers Market Report Coverage

The report offers a comprehensive quantitative as well as qualitative analysis of the current Bioimpedance Analyzers Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.

The report also covers qualitative as well as quantitative analysis of Bioimpedance Analyzers Market in terms of revenue ($Million).

Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Bioimpedance Analyzers Market .

A thorough analysis of market trends and restraints is provided.

By region as well as country market analysis is also presented in this report.

Analytical depiction of the Bioimpedance Analyzers Market along with the current trends and future estimations to depict imminent investment pockets. The overall Bioimpedance Analyzers Market opportunity is examined by understanding profitable trends to gain a stronger foothold.

Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Bioimpedance Analyzers Market are also analyzed.