Metabolic Testing Market Helps Foster Fitness and Wellness Trends in 2022
The metabolic testing market facilitates fitness and preventive healthcare needs through accurate measurement of metabolic rate and cardiorespiratory fitness. Metabolic tests evaluate energy expenditure at rest and during physical activity to gain insights for weight management, nutrition, and exercise prescription. They help optimize performance for athletes while promoting health and wellness for general individuals.
The Global Metabolic Testing Market is estimated to be valued at US$ 3.9 Billion in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024-2032.
Metabolic tests are conducted at diagnostic labs and healthcare facilities using indirect calorimetry devices to measure oxygen consumption, carbon dioxide production, and respiratory exchange ratio. They help estimate how many calories the body burns both during rest and different activities. The tests support diverse health applications from evaluating nutritional status, treatment effect of medications on metabolic conditions, to improving fitness routines. They are increasingly being used for preventive care to address obesity, diabetes, cardiovascular diseases affecting populations worldwide.
Key Takeaways
Key players operating in the metabolic testing market are COSMED, Vyaire Medical, MGC Diagnostics, Parvo Medics, and KORR Medical Technologies.
The growing prevalence of lifestyle diseases and focus on preventive healthcare is driving greater for Metabolic Testing Market Size. Increased health expenditures, growing geriatric population, and awareness about fitness are supporting market growth.
Major players are focusing on partnerships, acquisitions and geographic expansion to capitalize on opportunities in emerging markets of Asia Pacific, Latin America, and Middle East & Africa regions experiencing high disease burden.
Market Key Trends
One of the key trends in the metabolic testing market is the emergence of portable and wearable metabolic analyzing devices. Compact metabolic analyzing systems integrated with advanced technologies like AI and cloud computing are being developed to facilitate remote and home-based testing. This increases accessibility and allows for continuous 24/7 metabolic monitoring during daily routines and activities. Portable devices are expected to witness high demand especially from fitness enthusiasts and individual seeking real-time fitness data for lifestyle changes.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as heavy capital investments and expertise are required to establish presence in this market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative offerings in the market. However, differentiated services provided by vendors reduces impact of bargaining power.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials required are easily available. Switching costs are low for suppliers.
Threat of new substitutes: Threat of substitutes is moderate as alternate diagnosis methods like blood tests can be used. However, metabolic testing is preferred due to non-invasive nature.
Competitive rivalry: The Metabolic Testing Market opportunities are highly competitive with major presence of few global players. Pricing pressure exists due to intense competition.
Europe is currently the largest geographical region for the metabolic testing market in terms of value. Factors such as increasing favorable reimbursement policies, rising incidence of metabolic disorders, and growing adoption of advanced testing procedures drive the market in Europe.
Asia Pacific is expected emerge as the fastest growing region during the forecast period owing to surging healthcare expenditure, growing awareness regarding metabolic testing, and increasing patient pool of metabolic disorders in countries like China and India.
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*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
