This particular market is one of the few to benefit from the COVID-19 pandemic. Hospitals have shown significant increase in the demand for indirect calorimeters, especially standalone calorimeters meant for critical care units. On the other hand, portable calorimeters have also seen a rise in demand from research institutes due to inclined interest in research & development by key players in this market space.
Backed by advancements in technologies of indirect calorimeters, the market is expected to witness tremendous growth due to the cost effectiveness and convenience factor of these products, especially portable indirect calorimeters.
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Indirect calorimeters have several applications in monitoring a patient’s metabolic activities, which further helps doctors provide effective treatment. Thus, wider application of indirect calorimeters coupled with increasing number of hospital admissions will favor the growth of the global indirect calorimeter market over the forecast timeframe, which is projected to expand at a CAGR of 4% through 2030.
Key Takeaways from Indirect Calorimeter Market Study
- Investments in advanced technologies of indirect calorimeters will act as an important driver, increase 1.5x value by 2025.
- Hospitals are the leading end user segment, accounting for 30% share in the indirect calorimeter market, due to significant increase in demand.
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- North America is a dominant region in the market, and accounts for 40% of the total revenue share.
- Regions such as Asia are predicted to see significant growth in the indirect calorimeter market, based on exponential increase in population and rising medical tourism in the region.
- The market is moderately consolidated in nature, with key players being COSMED, MGC Diagnostics, and KORR medicals, having a cumulative share of approximately 40% in the market.
Approval of Latest Indirect Calorimeters to Boost Market Revenues
COSMED, a leading player in the indirect calorimeter market, recently collaborated with the ICALIC Clinical Trial study group for Q-NRG+ indirect calorimeters, which got approved by the FDA, This collaboration has developed an accurate system that is simple to use, is able to solve all typical disadvantages of indirect calorimetry technology, and has a considerable improvement in functionality as compared to older and outdated products, thereby providing a significant boost to the growth of the market.
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“Increased sales of portable indirect calorimeters will boost market revenue over the coming years,” says a Fact.MR analyst.
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