Bioimpedance Devices Market Is Expected to Reach USD 1,244.2 Million by 2034 And Grow at A CAGR of 6.7% | Future Market Insights, Inc.
The global bioimpedance devices market is set to reach USD 1,244.2 million by 2034, growing at a CAGR of 6.7% due to advancements in technology and the rising prevalence of chronic diseases. Increased consumer awareness and the demand for personalized healthcare are also driving market growth, particularly in developed regions.
NEWARK, Del, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The global bioimpedance devices market is projected to achieve a value of USD 1,244.2 million by 2034, having been valued USD 650.5 million in 2024. Over the forecast period between 2024 and 2034, sales are expected to increase at a CAGR of 6.7%. In 2023, bioimpedance devices brought in USD 612.3 million in revenue.
With advancements in technology, bioimpedance devices are now more accurate, user-friendly, and cost-effective, making them accessible to a broader range of healthcare facilities. The market is experiencing significant traction due to the rising prevalence of chronic diseases, such as cardiovascular disorders, diabetes, and obesity, where continuous monitoring of body composition and fluid levels is critical.
Moreover, the growing awareness among consumers regarding the importance of regular health check-ups and personalized healthcare is fueling the adoption of bioimpedance devices. This trend is particularly strong in developed regions, where healthcare cloud infrastructure is advanced, and there is a high focus on preventive care.
Additionally, the market's expansion is supported by favorable government initiatives and funding for research and development in medical technologies. As a result, the bioimpedance devices market is expected to exhibit a robust CAGR during the forecast period.
Key Takeaways Bioimpedance Devices Market:
- The global bioimpedance devices market is projected to grow from USD 650.5 million in 2024 to USD 1,244.2 million by 2034.
- The market is expected to grow at a CAGR of 6.7% during the forecast period from 2024 to 2034.
- In 2023, the bioimpedance devices market generated USD 612.3 million in revenue.
- Growth drivers include increasing demand for non-invasive monitoring technologies and rising healthcare needs due to aging populations and chronic diseases.
“The growing adoption of bioimpedance devices is propelled by their effectiveness in non-invasive body composition analysis, fluid monitoring, and overall health assessment, particularly as aging populations and chronic diseases drive demand. Technological advancements and increased healthcare professional awareness further amplify this growth.” Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
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Competitive Landscape:
The bioimpedance devices industry is witnessing significant investment in research and development, with companies striving to innovate by incorporating advanced features and optimizing patient outcomes. A core strategic priority for these players involves seeking out partnerships to strengthen their product offerings and broaden their international market reach.
Recent Developments in the Bioimpedance Devices Industry:
In December 2023, AMPED FITNESS® collaborated with Evolt™ to provide its VIP members with state-of-the-art body composition technology. The Evolt 360 Body Composition Scanner offers over 40 personalized measurements in just 60 seconds by using a safe electrical current through the hands and feet to assess muscle mass, fat mass, water levels, and minerals.
Omron Corporation is focused on advancing bioimpedance technology to elevate diagnostic precision and patient monitoring. By driving innovation, expanding strategic global partnerships, and delivering user-centric, reliable devices, Omron is positioning itself as a key leader in the bioimpedance devices market.
Key Players of the Bioimpedance Devices Market:
- Bioparhom
- Akern
- Biodynamics Corporation
- Tanita Corporation
- Biotekna
- Omron Corporation
- InBody
- EVOLT 360
- RJL Systems
- Fook Tin Group Holding Ltd
An Old Full Report Analysis Click Here
Key Segments of the Bioimpedance Devices Market:
By Product:
In terms of product, the industry is divided into multi-frequency, single-frequency and dual-frequency.
By Modality:
In terms of modality, the industry is segregated into wired bioimpedance and wireless bioimpedance.
By Application:
In terms of application, the industry is segregated into whole-body measurement and segmental body measurement.
By Region:
Key countries of North America, Latin America, Western Europe, Eastern, South Asia and Pacific, East Asia and Middle East and Africa (MEA) have been covered in the report.
Author by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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