Bioimpedance Spectroscopy Market is Anticipated to Grow To US$ 1.4 Billion by 2033: Improving Healthcare Access and Affordability | FMI

The Bioimpedance Spectroscopy Market was valued at US$ 469.8 million in 2022 and is anticipated to grow to US$ 1.4 billion by 2033. By 2023, sales are predicted to reach US$ 512.5 million. With a market share of around 73.0% in 2022, the single-frequency bioimpedance spectroscopy segment led the global market within the product category and is anticipated to expand at a CAGR of almost 10.4% from 2023 to 2033.

Nowadays, most people are health-conscious, and they are concerned with sustaining fat mass growth and obesity.  Bioimpedance spectroscopy is suitable since it is rapid, noninvasive, and reasonably priced. Adults retain their hydration of fat-free mass steadily, hence there is a need for an affordable, transportable, and user-friendly technology to measure body composition. Regarding some of the most critical clinical issues in intensive care, there are several interesting BIA research fields. It has been employed to assess body fat and nowadays to detect various chronic illnesses. This wide range of applicability is the key factor driving the bioimpedance spectroscopy market in the predicted period (2023-2033).

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Bioimpedance spectroscopy has gained acceptance in both research and clinical settings. It is being utilized in various fields, including oncology, nephrology, cardiology, sports medicine, and nutrition. The expanding body of evidence supporting the clinical utility of BIS has increased its adoption by healthcare professionals and researchers.

Governments and healthcare organizations worldwide are focusing on improving healthcare infrastructure and services. This increased investment in healthcare, coupled with the cost-effectiveness and clinical benefits of BIS, has contributed to its growing adoption in clinical practice.

Key Takeaways from Market Study:

• By product, single-frequency bioimpedance spectroscopy accounted for 0% of the total market share in 2022. Since this product is quite accurate in providing insights at the tissue level so, it is the dominant one.
• By modality, hand-held BIA accounted for 7% market share in 2022. In a comparative study published in the Journal Of Strength and Conditioning Research 2021, it was observed hand-held BIA showed higher accuracy than hand-to-foot BIA hence it is preferred.
• Considering end users, hospitals accounted for 8% of the global market share in 2022. The primary point of contact for any chronically ill, cancer patients and individuals with obesity is the hospital, making it a profitable end user.
• By region, North America contributed significantly to the market with 3% market share globally in 2022. This could be attributed to the significant prevalence of obesity (41.9% of individuals in the United States are obese) as statistics published by the Centers for Disease Control and Prevention in 2022.

 “The need for non-invasive and personalized diagnostic tools, advancements in technology, increasing prevalence of chronic diseases, and a growing focus on improving patient outcomes and healthcare efficiency is driving the market growth.” says an analyst of Future Market Insights.

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Market Competition:

The bioimpedance spectroscopy market is highly innovative, with key players including Tanita Corporation and PalmSens. These companies are constantly innovating their products and marketing strategies to gain a larger market share, with a focus on compatibility, convenience, and effectiveness.

• In April 2020, The PalmSens4 potentiostat by PalmSens, a highly durable and accurate BIA was chosen for NASA Expedition 63. It was launched into orbit, as an aspect of a research investigation carried out by the International Orbit Station. This supplied it with a large market and branding in the form of advertising.
• In September 2022, CTIBiotech and Gattefossé created Bioimpedance 3D bioprinted skin chips that connect cosmetics testing in laboratories to human trials. This innovation has added to the applicability of BIA, opening a new field for its usage in the healthcare sector.

Key Companies Profiled:

• 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
• Withings
• ImpediMed Ltd.
• Samsung

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Key Market Segments Covered in the Bioimpedance Spectroscopy Industry Research:

By Product:

• Single Frequency Bioimpedance Spectroscopy
• Multiple Frequency Bioimpedance spectroscopy

By Modality:

• Hand-held BIA
• Hand-to-Foot BIA
• Leg-to-Leg BIA

By End User:

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Rehabilitation Center

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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