Bioimpedance Devices Market - Forecast(2024 - 2030)

Bioimpedance Devices Market Overview

Bioimpedance Devices Market size is estimated to reach $675.4 million by 2027, growing at a CAGR of 4.5% during the forecast period 2022-2027. BIA analysis can be delineated as an overall measurement of body composition or cellular health of the body. Bioimpedance devices play a significant role in measuring appendicular lean mass, glomerular filtration rate, and others. From time to time, it confers an assessment about “Which way the health is trending?” Bioimpedance devices are used to measure important biomarkers like metabolic rate, oxidative stress, muscle mass, body water, and body fat. Let’s take metabolism rate (calories burn by metabolism for 24 hours when the body remains at rest) as an example which is affected by muscle mass, thyroid, and adrenals; and anytime when a patient has a disorder with any of those, the metabolic rate goes down; therefore, Bioimpedance devices are of utmost importance in determining all these measurements. Moreover, a legitimate question arising here is “Why muscle mass measurement is crucial for health?” the answer is that it is important not just for looks, not just for strength but it also drives the metabolism, regulates hormones, helps the testosterone level, and soaks up toxins. Muscle mass is usually affected or declined by poor nutritional status like malabsorption and scarcity of protein problems. Soaring prevalence of health complications like diabetes, kidney problems, obesity, thyroid issues, HBT, and others because of poor ingestion habits and desk-bound working environment are factors set to drive the growth of the Bioimpedance Devices Market for the period 2022-2027.

Report Coverage

The report: “Bioimpedance Devices Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Bioimpedance Devices Market.

Key Takeaways

• Geographically, the North America Bioimpedance Devices Market accounted for the highest revenue share in 2021. The growth is owing to the presence of potential players that are involved in various research and developmental activities, the innumerable flow of hard cash from the government to refine healthcare infrastructure, and the health-conscious public.
• Bettering healthcare infrastructure in developing countries, the rising purchasing power of people, the overwhelming surge in chronic illnesses because of poor lifestyles of people in the modern world, and health consciousness among people are the factors said to be preeminent drivers driving the growth of Bioimpedance Devices Market. The problem of inaccurate measurements is said to reduce the market growth.
• Detailed analysis of the Strengths, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Bioimpedance Devices Market report.

Bioimpedance Devices Market Share, By Region (%) in 2021

For more details on this report - Request for Sample

Bioimpedance Devices Market Segment Analysis-By Modality

The Bioimpedance Devices Market based on the device type can be further segmented into Wired and Wireless. The wireless segment held the largest share in 2021. The growth is owing to hassle-free usage because of portability, low storage space requirement, being suitable for traveling, quick as compared to traditional Bi techniques, low power consumption, and hand-held conveniences. For example, Impedimed SFB7, a wireless tetrapolar BI device commonly taken into account for the measurement of tissue composition. Similarly, the wireless segment is estimated to be the fastest-growing with a CAGR of 5.7% over the forecast period 2022-2027. This growth is owing to a rising surge in chronic illnesses, growing awareness among people regarding the presence of such devices, and soaring health proactiveness among people. Moreover, the capability of wireless bioimpedance devices to efficiently analyze abdominal fatness is another region behind the market hold.

Bioimpedance Devices Market Segment Analysis-By End-User

The Bioimpedance Devices Market based on end-user can be further segmented into Hospitals, Ambulatory Surgical Centers (ASCs), Clinics, Homecare, and Others. The hospital segment held the largest share in 2021. The growth is owing to broadening hospitalization trends as chronic illnesses are on the loose. The COVID-19 spread has played a significant role in upsurging the hospitalization rates. Many COVID patients witness lower levels of oxygen in the blood which can ensure the adverse effect on essential organs of the body. As a result, it becomes utterly important to constantly measure body composition to avert such calamities. Moreover, better-equipped nature and top-flight professionals are other reasons that gravitate patients toward hospitals. In today’s world hospitals have a more inclusive presence in both rural and metropolitan areas. Nevertheless, the hospital along with home care is estimated to be the fastest-growing segment with a CAGR of 6.2% over the forecast period 2022-2027. This growth is owing to rising health attentiveness among people, technological breakthroughs, and the emergence of wireless portable devices.

Bioimpedance Devices Market Segment Analysis-By Geography

The Bioimpedance Devices Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 39% of the overall market in 2021. The growth in this segment is owing to the factors such as the overwhelming presence of health complications like diabetes, obesity, asthma, HBT, and others because of ultra-modern lifestyles and ineffective eating habits of people. A major chunk of the American population is battling bronchial asthma due to widespread obesity. According to the American Lung Association, being overweight can narrow the lungs by encircling pressure and set breathing difficulties in motion and as of 2022, nearly 36 percent of adults in the US are obese. On another hand, well-established healthcare infrastructure, high research, and development spending, better consciousness, and high purchasing power of people are some other factors driving the growth of the aforementioned market in the said segment. However, Asia-pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the rising population, soaring geriatrics in Japan and China, growing inclination of people toward western lifestyle, refining distribution channels, enlarging proactiveness among people regarding health with the rising quality of lives as economic affluence of countries like India, China, and Indonesia is increasing.

Bioimpedance Devices Market Drivers

The devastating surge in chronic diseases' pervasiveness is anticipated to boost market demand.

Owing to desk-bound work-life, little to no exercise, immoderate intake of junk food, and rising stress in order to cope with ever-growing competition, various illnesses like diabetes, obesity, heart complications, chronic kidney disease, and asthma have come to the limelight like never before. According to a report, the Cook Islands, Nauru, Samoa, Tonga, Tuvalu, Kiribati, Saint Lucia, Micronesia, and Egypt are the 10 most obese countries in the world. All these nations have a body mass index (BMI) of over 29.5 and over 45 percent of adults in these countries are falling obese. Moreover, the U.S. ranked 12th on the list with more than 36 percent of adults being obese. In addition to that, a report by the International Diabetes Federation, the number of diabetes cases is likely to soar from 783 million by the year 2045. The number is whirling at around 535 to 545 million. Also, the rise in prevalence of chronic kidney disease has propelled the demand for bioimpedance devices. Every 1 in 7 adults in America, which is nearly 35 to 37 million people, had chronic kidney disease in 2021. The number is likely to surge in near future.

Soaring healthcare spending and augmenting per capita income of developing countries are expected to boost market demand.

With rapid modernization and altering lifestyles, people are turning quite proactive rather than reactive regarding their health; as a result, the overall demand for bioimpedance devices has witnessed a sheer rise in the last couple of years. On another hand, soaring GDP per capita income in developing nations have its fair share in driving the aforementioned market. Many European nations per capita have crossed the $60,000 whereas, Asian nations are too on the same track. As of 2021, Bangladesh's GDP per capita (PPP terms) was whirling around $5,733 whereas, Indian GDP per capita (PPP terms) was $7,319. Additionally, China’s GDP per capita crossed the $12,000 mark in 2021. On another hand, rising health spending by the government of different countries is likely to fuel the growth of the aforementioned market. For instance, India raised its total healthcare spending by 137 percent in 2021. Moreover, U.S. healthcare spending is assessed to cross $6 trillion in foreseeable future.

Bioimpedance Devices Market Challenges

Inaccurate reading and lack of awareness among people residing in rural areas are anticipated to hamper the market growth.

Nearly 40 to 43 percent of the world population (over 3.3 billion people) resides in rural areas. Therefore, the lack of basic healthcare infrastructure and scarcity of awareness among people regarding the presence of bioimpedance devices and their function is likely to challenge the market growth. Even though not all the rural are in squalid conditions and deprived of basic needs but a majority of them are. In addition to that, the shortage of medical professionals and the complication of inaccurate readings are likely to challenge the steady growth of the bioimpedance market.

Bioimpedance Devices Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Bioimpedance Devices market top 10 companies include-

1. Cerebrotech Medical Systems
2. RJL Systems
3. Fresenius Medical Care
4. SMT Medical
5. General Electric
6. Omron Corporation
7. Tanita Corporation
8. ImpediMed Ltd
9. Maltron International Ltd.
10. Bodystat Ltd.

Recent Developments/Product Launches:

Relevant Links: