Global Metabolic Testing Market, by Product Type (Metabolic Carts (Portable and Bench-top), Body Composition Analyzers (Portable and Bench-top), and ECGs/EKGs (Portable and Bench-top)), by Test Type (VO2 Max Analysis, RMR Analysis, and Body Composition Analysis), by End User (Hospitals & Clinics, Sports Performance Lab, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 451.5 Mn in 2018, and is projected to exhibit a CAGR of 7.6% during the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights.
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Increasing launch of advanced metabolic testing devices and high prevalence of lifestyle diseases is expected to support the global metabolic testing market growth. Major players in the market are also focused on investing in research and development of novel metabolic testing devices. For instance, in 2017, InBody Co., Ltd. introduced InBody band 2, which is a fusion of body composition analyzers and fitness trackers.
In March 2018, Cosmed srl launched Q-NRG — a metabolic monitor for measuring energy expenditure in spontaneous breathing and mechanically ventilated patients admitted in ICU.
Browse 35 Market Data Tables and 34 Figures spread through 179 Pages and in-depth TOC on Global Metabolic Testing Market by Product Type (Metabolic Carts (Portable and Bench-top), Body Composition Analyzers (Portable and Bench-top), and ECGs/EKGs (Portable and Bench-top)), by Test Type (VO2 Max Analysis, RMR Analysis, and Body Composition Analysis), by End User (Hospitals & Clinics, Sports Performance Lab, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) – Global Forecast to 2026
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High prevalence of lifestyle diseases is expected to propel demand for metabolic testing systems which in turn is expected to support global metabolic testing market growth over the forecast period. For instance, according to a report published by Stroke Alliance for Europe (SAFE) in 2017, incidence of stroke is expected to increase by 34% in Europe during 2015-2035. Moreover, according to the same source, number of people living with stroke is expected to increase by around 25% between 2015 and 2035 from 3,718,785 million in 2015 to 4,631,050 by 2035.
Key players in the market are focused on adopting merger and acquisition strategies in order to expand their product portfolio and enhance their market share. For instance, In May 2018, GE Healthcare announced a marketing collaboration agreement with FitTrace, a company that offers cloud-based software for analysis and reporting of body composition.
Lifestyle diseases are still not considered as extremely serious and fatal in developed as well as emerging economies. Low awareness among people regarding metabolic testing and need for screening, prevention, and monitoring of lifestyle diseases is also expected to restrain the market growth.
Two test are majorly conducted/used in metabolic testing. Resting Metabolic Rate (RMR) analysis is required in ICUs for hospitalized patients to track their health status and to devise precise nutritional requirements for such patients on the basis of their RMR analysis. VO2 max analysis is required by sports professionals and athletes. (so, these two tests have limited target population which may restrain growth of the market). Body composition analysis is not performed extensively other than by fitness enthusiasts (to have high muscle to fat ratio for a muscular physique) and other purposes. These factors are expected to restrain growth of the market up to certain extent.
Key Takeaways of the Metabolic Testing Market:
- The global metabolic testing market is expected to exhibit a CAGR of 7.6% during the forecast period (2018 – 2026), owing to increasing product launches and approvals and robust pipeline of novel metabolic testing devices
- North America metabolic testing market is expected to hold dominant position in the global metabolic testing market over the forecast period. This is due to presence of large customer base and key players in the region that are increasingly focused on new product launches. For instance, in January 2019, KORR Medical Technologies launched Metabolic Meal Plan application, which can help clinicians to implement, manage, and track clients’ weight-loss regimens.
- Europe metabolic testing market is expected to account for the second largest market share in the global metabolic testing market due to presence of key manufacturers and their active focus on research and development of new products. For instance, in November 2017, Vizient, Inc., a major healthcare performance improvement company, bestowed ‘2017 Innovative Technology designation’ to COSMED srl’s K5 wearable metabolic system.
- Major players operating in the metabolic testing market include, COSMED srl, Vyaire Medical, Inc., Geratherm Medical AG, MGC Diagnostics Corporation, CORTEX Biophysik GmbH, General Electric Company, Microlife Medical Home Solutions, Inc., OSI Systems, Inc., AEI Technologies, Inc., and KORR Medical Technologies, Inc.
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