Indirect Calorimeter Market: Technological Advancements in the Indirect Calorimeter and its Cost-effectiveness are Likely to Propel the Market
Transparency Market Research (TMR) has published a new report titled, ‘Indirect Calorimeter Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global indirect calorimeter market was valued at US$ 39.01 Mn in 2017. It is projected to expand at a CAGR of 4.0% during forecast period. The global indirect calorimeter market is anticipated to be driven by technological advancements and rise in awareness about indirect calorimeter among end-users. The indirect calorimeter market in Asia Pacific is expected to expand at a high CAGR of 4.9% due to a significant patient pool, development in the health care sector, and increase in disposable income.
Rise in adoption of indirect calorimeter drives the market
Accurate estimation of energy expenditure is crucially important for proper assessment of nutritional needs. The techniques utilized currently are likely to lead to overfeeding or underfeeding in individuals, which is expected to have a detrimental effect on the health. Indirect calorimeter is a highly accurate, reliable, and noninvasive device to measure energy expenditure. It offers a scientific approach that customize patient’s nutrient delivery and energy needs to maximize the benefits of nutrition therapy. The usage of indirect calorimeter is limited, mostly due to its high price, shortage of trained manpower, and lack of training or education. However, recent advancements in technology have made indirect calorimeters highly portable, easy to operate, and cost effective. This, in turn, has fueled the adoption of the indirect calorimeter, which is anticipated to drive the market during the forecast period.
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Rise in patient pool for obesity
According to the WHO, around 650 million people around the world are affected by obesity. Rise in incidence and prevalence rate of obesity has propelled the demand for personalized weight management tools that are convenient, accurate, and reliable, which in turn, is propelling the demand for indirect calorimeter.
Surge in patient awareness for indirect calorimeter for proper assessment of nutritional needs
Critically-ill patients have higher energy expenditure as compare to healthy individuals, thereby assessing their energy requirements is crucial in order to prevent risk of malnutrition in critically-ill patients. Determining the energy needs and nutritional requirements in critical care is essential for proper nutritional support. Some predictive equations, such as Harris-Benedict (HB), are utilized to calculate the energy expenditure in critical care. However, several studies have found that these equations are inaccurate and have high error rate, which may lead to overfeeding or underfeeding. Thus, usage of indirect calorimeter is recommended in order to provide proper nutritional support and reduce complications and mortality rate in critical care. The indirect calorimeter provides highly accurate, reliable, and noninvasive measurement of energy. Thus, surge in awareness among end-users about the benefits of indirect calorimeter, over conventional methods, is projected to drive the market during forecast period.
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In terms of type, the global indirect calorimeter market has been divided into standalone and portable. The standalone segment is likely to account for a leading share of the global market during the forecast period, owing to the rise in adoption of standalone indirect calorimeter in critical care units. However, the portable indirect calorimeter segment is expected to expand at a higher CAGR during the forecast period owing to its easy operability and cost-effectiveness. Moreover, developments in technology in portable indirect calorimeters are estimated to boost the segment during the forecast period. Based on end-user, the indirect calorimeter market has been classified into hospital (critical care), diagnostic centers, research institutes, and others (sports centers, etc.). The hospital (critical care) segment is expected to hold a significant share of the global indirect calorimeter market, due to a rise in adoption of indirect calorimeter in intensive care units.
Escalating disposable income and large untapped population in Asia Pacific to create opportunities in market
In terms of region, the global indirect calorimeter market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for a leading share of the global market during the forecast period, owing to high adoption of indirect calorimeter and high health care expenditure. Europe is anticipated to account for a significant share of the global market between 2018 and 2026. Increase in the incidence of obesity, rise in awareness about the usage of indirect calorimeter, and increase in government initiatives that mandate the utilization of indirect calorimeter for proper assessment of energy expenditure are expected to fuel the market in the region during the forecast period.
The market in Asia Pacific is likely to expand at a rapid pace during the forecast period, due to a rise in health care expenditure. Moreover, increase in focus of key players on expansion in Asia Pacific, a large untapped population, and rise in awareness about indirect calorimeter in Asia Pacific are likely to boost the market. The indirect calorimeter market in Latin America and Middle East & Africa is anticipated to expand at a steady pace from 2018 to 2026.
Key players operating in the global indirect calorimeter market include Cosmed srl, MGC Diagnostics, Microlife USA, Pacific Medico, Korr Medical Technologies, Maastricht Instruments BV, GE Healthcare, Vyaire Medical, and Parvo Medics. Companies operating in the global Indirect Calorimeter market focus on strategic collaborations to develop new products in developing regions such as Asia Pacific and Latin America.
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