InBody wins order to supply its health analyzers to U.S. Marine Corps

“InBody 770” [Image source: InBody]

InBody Co., the global leader in body composition analysis and body weight scales, has signed a contract with the U.S. Marine Corps to supply a range of its high-end products.

Maeil Business Newspaper learned on Thursday that the Korean health device company has agreed to provide the U.S. Marine Corps with 250 “InBody 770” body composition analyzers. The deal is estimated to be worth about 4.6 billion won ($3.6 million).

“Our InBody devices are sold to various customers, from fitness centers and medical centers to sports clubs and corporations, and we’re glad that we can help monitor the health of the U.S. Marine Corps members,” the company said.

The InBody 770 is one of the company’s higher-end models. Designed for professionals, it can measure not only the body fat and muscle mass, but it also helps measure body water and edema. The device provides analyses of muscles by body part, which is particularly beneficial for athletes and members of the military who need to manage their body composition. About 270 sports clubs around the world use this device, according to InBody, to monitor and manage their athletes’ condition and to further improve their performance. The machine costs around 17 million won per device in the home market.

InBody machines are widely used at football clubs in the Premier League, LaLiga, and Serie A. The company added that their machines are also popular in other sports leagues, including those of baseball, basketball, ice hockey, automobile racing, rugby and handball.

The biggest market for the company is the U.S., which has the largest body composition analysis market among its markets, and InBody machines account for 80 percent of the U.S. market, the company said. Looking solely at fitness centers and gyms in the U.S., the company says its share is still 50 percent. The company exports to more than 110 countries.

With nine overseas subsidies, including those in the U.S., the Netherlands, Japan, China, Malaysia, India and Mexico, the company is seeing healthy sales growth, with more than 200 billion won in sales expected for this year.

Analysts estimate 2022 sales to have been 160 billion won, following a steady uptrend in sales from the 107.1 billion won seen in 2020 and the 137.8 billion won seen in 2021. InBody’s overseas sales accounts for 86 percent of its total sales. Some analysts say, though, that the rapid growth trend has only been due to immature global markets and that they may soon be saturated.

InBody is now eyeing more markets in Asia, based on its dominance in the U.S. and Europe. The company says its cumulative sales as of the third quarter last year in the Asian market grew 49 percent year-on-year.

“We are aggressively promoting our business in Asia, particularly aiming at countries with poor medical environments,” InBody said. “In the Philippines, for example, we’ve sold our products to about 100 hospitals and medical facilities over the past five years, as we’ve found that they don’t really have an advanced medical environment for kidney dialysis.”

InBody also saw many buyers and professionals showing interest in its products during Arab Health 2023, a healthcare and medical expo that took place at the Dubai World Trade Center between Jan. 30 and Feb. 2. In the Middle East, InBody sells in 17 countries, including the United Arab Emirates, Kuwait and Qatar. Looking to Africa, the company is in 25 markets there. “There has been a 66 percent increase in inquiries about our products compared to the year before,” the company said.