SEATTLE, April 16, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the metabolic testing market was valued at US$ 451.5 million in 2018, and is projected to exhibit a CAGR of 7.6 % over the forecast period (2018–2026).
Key Trends and Analysis of the Metabolic Testing Market:
Increasing launch of advanced metabolic testing devices is expected to significantly support the metabolic testing market growth over the forecast period. For instance, 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.
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In October 2017, InBody Co., Ltd. launched InBody BAND 2, which is fusion of body composition analyzers and fitness trackers. InBody BAND 2 is capable of measuring percent body fat, fat mass, muscle mass, sleep monitoring, heart rate monitoring, and fitness tracking.
Furthermore, increasing prevalence of lifestyle diseases is expected to lead to high demand for metabolic testing devices for screening organ functions and disease conditions, which in turn is expected to boost the metabolic testing market growth. For instance, according to the World Health Organization (WHO), 2017, around 17 million deaths are recorded worldwide, annually due to cardiovascular diseases, of which over three quarters are recorded in low- and middle-income countries.
Key players in the market are focused on strategic collaborations and partnerships in order to expand their product portfolio. 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.
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https://www.coherentmarketinsights.com/market-insight/metabolic-testing-market-1652
Key Market Takeaways:
- The market is expected to exhibit a CAGR of 7.6% during the forecast period (2018–2026). This growth is attributed to increasing launch of advanced metabolic testing devices and high prevalence of lifestyle diseases
- North America metabolic testing market is expected to hold dominant position in the global metabolic testing market over the forecast period due to presence of large customer base and manufacturers that are focused on receiving approvals for their novel products
- Europe metabolic testing market is expected to hold the second largest position in the global metabolic testing market due to presence of key manufacturers and their focus on research and development of novel products
- Key players in the market are focused on offering products as well as various services to enhance their market share. For instance, in January 2019, KORR Medical Technologies launched Metabolic Meal Plan application, which helps clinicians to implement, manage, and track clients’ weight-loss regimens.
- The U.S. Food and Drug Administration (FDA) classifies metabolic testing devices into class II of medical device classification system
- Some of the major players operating in the global 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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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.