REPORT HIGHLIGHT
Bioimpedance device market size was valued at USD 490.8 Million in 2022, expanding at a CAGR of 11.3% from 2023 to 2030.
Bioimpedance Device is defined as a lifting device that can be utilized to lift any large object. Additionally, bioimpedance device can carry and use by a single person since it is safe, flexible, and strong. Moreover, the increase in the number of prevalent cases of chronic and lifestyle diseases and the increasing population becoming more health-conscious have driven the adoption of Bioimpedance Devices. Furthermore, to ensure better access to their devices and increase sales, endorsers in the bioimpedance devices market, are focusing on promotional strategies and online marketing. In line with this, a broad selection of high-quality Bioimpedance systems at more affordable costs is offered by these online marketing websites.
Bioimpedance Device Market- Market Dynamics:
- Healthy lifestyle and growing incidence of lifestyle diseases will propel the market growth.
- The demand for the bioimpedance device market is rising owing to factors including growing healthcare coupled with responsiveness regarding a healthy lifestyle and an increasing number of organizational and government initiatives for promoting physical activity. Additionally, the rising prevalence of metabolic disorders along with the increasing volume of obese patients is significantly raising the market growth. Moreover, in the modern era, changing the way of living may lead to unhealthy lifestyles including sedentary work environments, growing mobility automation, and rising consumption of junk foods. In line with this, the growing incidence of lifestyle diseases such as obesity, diabetes, and high blood pressure acts as a primary driving factor for market growth. However, the lack of skilled & awareness professionals and the high cost of devices may hinder the bioimpedance device market demand. Furthermore, advancements in technology, growing spending on healthcare services, and increasing fitness clubs as well as sports rehabilitation centers are offering fruitful opportunities for market development of the bioimpedance device.
Bioimpedance Device Market- Key Insights:
- As per the analysis shared by our research analyst, the global bioimpedance device market is estimated to grow annually at a CAGR of around 11.3% over the forecast period (2023-2030)
- The bioimpedance device industry is projected to grow at a significant rate due to the growing awareness of healthy lifestyles and advancements in technology
- Based on product type segmentation, multi-frequency analyzer was predicted to show maximum market share in the year 2022
- Based on modality segmentation, wireless bioimpedance analyzers was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Bioimpedance Device Market- Segmentation Analysis:
- The global bioimpedance device market is segmented on the basis of product type, modality, end users, and region.
- The market is divided into three categories based on product type: multi-frequency analyzers, dual-frequency analyzers, and single-frequency analyzers. The multi-frequency analyzers segment is likely to maintain its dominance in the market over the forecast period due to these devices can calculate impedances at diverse frequencies. Moreover, rising awareness and popularity for the availability of multiple-frequency bioimpedance devices as well as the features of the devices including precisely computing the body composition is likely to increase the segment growth. Additionally, these devices can easily operate by the house settings for monitoring the health of the entire family as these devices are small in size and lightweight which is positively impacting the segment demand.
- The market is divided into two categories based on modality: wireless bioimpedance analyzers and wired bioimpedance analyzers. The wireless bioimpedance analyzers segment is expected to hold the largest market share over the forecast period due to the capability of the bioimpedance device to transfer information wirelessly. Additionally, various types of wireless bioimpedance include Bluetooth connectivity and Wi-Fi connectivity.
- The market is divided into three categories based on end-users: hospitals, home users, fitness clubs & wellness centers, and others. The fitness clubs & wellness centers segment is expected to possess the market share over the forecast period. The key driving factor for the market demand is increasing awareness regarding health and fitness across the world. Additionally, the presence of wellness centers and fitness clubs has grown significantly, this in turn; among the population, the rising focus on health and fitness has resulted in boosting the segment demand.
Bioimpedance Device Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Bioimpedance Device Market- Competitive Landscape:
In the global Bioimpedance Device Market, numerous market players are now more focused on acquisitions, setting-up effective joint ventures and collaborations to expand their respective consumer bases. Based on this, they stand to increase their given target bases by being able to serve them on a global as well as domestic level. Furthermore, the element in conjunction with favorable prospects emerging from developing nations is anticipated to offer a surge in business prospects for market players throughout this forecast period. For instance, in January 2022, Onera Health launched the biomedical lab-on-chip. Additionally, the biomedical sensor system-on-chip acquires & processes multiple biosignals and is manufactured for a broad range of wearable devices & applications, providing various opportunities and solutions for innovation in the wellness, medical, and fitness space.
Recent Developments:
For instance, in March 2022, Analog Devices, Inc. introduced a low-power, high-performance analog front end (AFE) built for wearable bioimpedance monitoring. Additionally, Medical professionals are currently exploring this approach for body composition measurements required for disease diagnosis.
Key features of the study:
- This proposed research study on bioimpedance device market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
- The report provides the client the latest up-to-date and trending insights about the bioimpedance device market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for bioimpedance device market.
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the bioimpedance device market.
- Impact of COVID-19 on bioimpedance device market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on bioimpedance device market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the bioimpedance device market, we have also included competitive landscape and key innovator analysis for the bioimpedance device market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the bioimpedance device market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global bioimpedance device market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL BIOIMPEDANCE DEVICE MARKET KEY PLAYERS
- Tanita Corporation
- Analog Devices Inc.
- RJL Systems
- Biodynamics Corporation
- BIOPAC Systems Inc. and NIMedical
- Bodystat
- General Electric Company
- RJL Systems Inc.
- ImpediMed
- OMRON Healthcare
- Seca
- SMT medical technology GmbH&Co. KG
- Nutrilog SAS
- Omron Corporation
GLOBALBIOIMPEDANCE DEVICE MARKET, BY PRODUCT TYPE
- Multi-Frequency Analysers
- Dual-Frequency Analysers
- Single-Frequency Analysers
GLOBAL BIOIMPEDANCE DEVICE MARKET, BY MODALITY
- Wireless Bioimpedance Analyzers
- Wired Bioimpedance Analyzers
GLOBAL BIOIMPEDANCE DEVICE MARKET, BY END-USERS
- Hospitals
- Home Users
- Fitness clubs & Wellness Centers
- Others
GLOBAL BIOIMPEDANCE DEVICE MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA