Obesity and low muscle mass are major public health concerns, especially in older adults, due to their strong links to cardiovascular disease, cancer, and mortality. Beyond body mass index, body composition metrics-skeletal muscle, fat mass, and visceral adipose tissue-offer deeper insights into nutrition and disease risk. These measures are essential for both cross-sectional assessments and longitudinal tracking, providing a clearer picture of health changes over time. Selecting body composition assessment tools requires balancing cost, practicality, accuracy, and data quality. The right tools enhance research, refine clinical assessments, and inform targeted interventions. Aligning methods with specific research or clinical goals improves disease risk stratification and advances personalized treatments. This review highlights the importance of integrating body composition assessment into research and clinical practice, addressing knowledge gaps across diverse populations and emphasizing its potential in advancing precision medicine. It also highlights recent advancements in body composition assessment techniques that warrant consideration when evaluating techniques for a specific application. Future efforts should focus on refining these tools, expanding their accessibility, and developing comprehensive risk models that incorporate body composition alongside behavioral, environmental, and genetic factors to improve disease prediction and prevention strategies.