Rise in obesity among people worldwide, surge in aesthetic consciousness, and advancements in field of body contouring are the factors driving the growth of the global body contouring devices market.
The global body contouring devices market generated $933 million in 2017 and is estimated to reach $3.45 billion by 2025, registering a CAGR of 17.7% from 2017 to 2025. The report offers a detailed analysis of the key segments including top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
A surge in aesthetic consciousness along with increasing obesity among people worldwide drives the body contouring devices market growth. Furthermore, advancements in the field of body contouring supplement market growth. However, the higher cost associated with body contouring procedures is expected to hamper the global body contouring devices market growth. On the other hand, the rise in medical tourism and a surge in adoption of body contouring and high market potential in untapped emerging economies are anticipated to create lucrative opportunities in the near future.
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Based on product type, the non-invasive devices segment held the highest position accounting for nearly three-fifths of the total market share in 2017 and is expected to dominate throughout the forecast period. Moreover, this segment is expected to grow at the highest CAGR of 18.1% from 2017 to 2025. The reason behind this is that these devices are less risky and cause less pain when compared to traditional surgical procedures and devices. These devices do not require incisions on the surface of the skin as they work externally to achieve the desired results, eliminating the risks associated with administration of general anesthesia as the procedure is non-surgical and requires no anesthesia. Moreover, the procedure does not result in any visible scars on the surface of the skin and the recovery time is shorter when compared to the traditional surgical procedures.
Based on application type, the skin tightening segment held the highest market share in terms of revenue in 2017, contributing to nearly three-fifths of the total share. This segment is expected to continue its dominant share during the forecast period and grow at the highest CAGR of 18.3% from 2017–2025. This is due to the rise in obesity worldwide which leads to more patients opting for weight loss treatments resulting in loose skin.
North America region contributed to almost two-fifths of the total share in 2017 in the body contouring devices market, owing to various factors such as rise in obese population and recent government approvals to various devices in the region. In addition, the rise in the aesthetic consciousness also serves as a growth factor. However, Asia-Pacific region is expected to continue its dominant share during the forecast period and is estimated to grow at the highest CAGR of 5.6% from 2017-2025, owing to the factors such as an increase in obesity in various countries of the region.
Leading market players analyzed in the research include Hologic, Inc., Cutera, Inc., Allergan plc, Sciton, Inc., Erchonia Corporation, El.En. S.p.A. (Asclepion Laser Technologies GmbH), Bausch Health Companies Inc., InMode Aesthetic Solutions, Shanghai Fosun PharmaceuticalGroupCo., Ltd., and MicroAire Surgical Instruments, LLC. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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