Global Bioimpedance Device Market 2024-2031

Global Bioimpedance Device Market 2024-2031

Bioimpedance Device Market Size, Share & Trends Analysis Report by Product Type (Single-Frequency Bioimpedance Devices, and Multiple-Frequency Bioimpedance Devices), by Modality (Wired Bioimpedance Devices, and Wireless Bioimpedance Devices), and by End-Users (Hospitals, Specialty Clinics, Rehabilitation Centers, and Others) Forecast Period (2024-2031)

Bioimpedance device market is anticipated to grow at a CAGR of 9.6% during the forecast period (2024-2031). Bioimpedance devices are used instead of radiation to determine body composition, as they employ a safe electrical current. These are easier to operate, faster, more compact, and require no training some of them are even handheld. Numerous therapeutic domains, such as gastroenterology, chronic inflammation, postoperative surveillance, sports science, and many more, make extensive use of bioimpedance devices.

Market Dynamics

Growing demand for fitness and weight management gadgets

The gadgets' capacity to provide detailed information on body composition, a parameter that is becoming more and more important for weight management and fitness enthusiasts, led to their widespread adoption. The occurrence of long-term health conditions like diabetes and obesity is driving up demand. The percentage of muscle mass and body fat can be tracked non-invasively with bioimpedance analysis, which helps manage these disorders.

Rising usage of bioimpedance devices

Bioimpedance devices offer an incredibly attractive value proposition by putting the power of proactive monitoring firmly in the hands of the end-user in an era of cost-effective healthcare system solutions. Over the next years, it is anticipated that this trend and the expansion of preventative measures will further fuel the market for bioimpedance devices.

Market Segmentation

Based on product type, the market is bifurcated into single-frequency bioimpedance devices and multiple-frequency bioimpedance devices.

Based on modality, the market is bifurcated into wired bioimpedance devices, and wireless bioimpedance devices.

Based on end-users, the market is segmented into hospitals, specialty clinics, rehabilitation centers, and others including ambulatory surgical centers.

Hospitals are Projected to Emerge as the Largest Segment

Bioimpedance devices are used by doctors to conduct body composition analyses, the results of which are utilized to monitor the fluid status of critically ill patients, evaluate lung function, and provide the proper nutritional intervention. Additionally, the integration of these devices in standard hospital operations is highly promoted as they produce patient care data points with extra value.

Regional Outlook

The global bioimpedance device market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Asia-Pacific countries to invest in affordable healthcare devices.

China's large population makes it a strong market with a range of bioimpedance device manufacturers catering to varying budgets and needs. These factors can present a favorable prospect for producers of bioimpedance devices.

North America Holds Major Market Share

The presence of advanced healthcare infrastructure, high healthcare expenditure, and the growing prevalence of diabetes among the population are some of the key contributors to the high share of the regional market growth. Apart from these, the presence of major hospitals that are the primary end-users of bioimpedance devices further caters to the regional market growth.

Market Players Outlook

The major companies serving the global bioimpedance device market include Inbody Co., Ltd., General Electric Company, Omron Corp., Fresenius Medical Care, and ImpediMed Ltd. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions among others to stay competitive in the market. For instance, in September 2022, GlucoRx announced the first multi-sensor non-invasive glucose monitoring. The GlucoRx BioXensor uses patented radio frequency technology alongside a multiple-sensor approach to measure blood glucose levels every minute reliably, accurately, and non-invasively.