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Body Contouring Market – Highlight
Body contouring market is gaining traction due to the growing awareness among the people regarding their look. Body contouring involves removal of excess body fat to improve appearance.
The segment has many procedures such as body lift, bra line back lift, body fat transfer, implants and abdominal etching that can effectively bring back the body in shape.
The global body contouring market can expect a hike by 9.8% CAGR during the forecast period (2017-2023) expresses Market Research Future (MRFR) in a detailed study that also includes possible body contouring market drivers and segmental analysis for a better understanding of the market in the near future. Among the major reasons, obesity is one of the major factors, along with technological advances and improved surgical treatment. The success rate of surgeries has gone up which can further cement the segment’s foothold.
However, the body contouring market has its loopholes as well. The surgical process incurs a high cost which can pull back the market growth during the forecast period.
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Due to increasing prevalence of obesity across the globe many of the companies are in the race to introduce better treatment for obesity. Companies are using a trend of strategic alliance and acquisition to gain the market and minimize the competition in the market.
Non-invasive and minimally invasive body contouring treatments are on the rise continuously. In the US alone, revenue from body contouring treatments was more than $361 million in 2014 and demand for the product is projected to grow 15.4% per year through 2019.
The revenue of company was $277.9 million in 2015, compared to $255.8 million in 2014 with the growth of 9%.
The body contouring market is intensely competitive as the trend is hitting a home run among the populace. Companies are bringing in strategies that include merger, acquisition, collaboration and other methods to stay afloat in the market. For instance, CVC Capital Partners is planning to buy Lumenis.
Prominent players in the global body contouring market are Alma Lasers (Israel), Meridian (Michigan), Cynosure (US), Syneron Medical (Israel), Lumenis (Israel), Palomar Medical Technologies (US), Valeant (Canada), GlobalMed Technologies (US), Asclepion Laser Technologies (Germany), Andrew Technologies (Canada), BTL Industries (US), Cutera (US), Fotona (Slovenia), GlobalMed Technologies (US), Chromogenex (UK), Human Med (Germany), InMode (US), Invasix Aesthetic Solutions (US), Erchonia (US), Wells Johnson Company (US), and others.
Body Contouring Market – Segment Analysis
The global body contouring market is segmented by type of devices into invasive devices, minimally invasive devices & non-invasive devices.
Non-Invasive devices segment is further sub-segmented into radio frequency lipoplasty devices, and high intensity focused ultrasound lipoplasty devices.
Minimally invasive devices are sub-segmented into laser-assisted lipolysis devices, and radio frequency assisted liposuction devices, and invasive devices are sub-segmented into ultrasound assisted liposuction devices and other.
Detailed Regional Analysis
Region-specific analysis of the global body contouring market includes North America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
North America has the largest market share, and its position is going to remain the same in the coming years as well. The region gets the upper-hand as it is technologically superior and provides excellent medical facility to its customers. Furthermore, the spending capacity of the region is quite high which can provide the necessary boost to the regional market.
Europe holds the second position. First-rate medical infrastructure is something that can significantly impact the regional market growth. The APAC market is to catch up soon as the market has the potential to become the fastest growing one during the forecast period.
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Some Points from Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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