According to a new report published by Allied Market Research, titled,"Body Contouring Devices Market, by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global body contouring devices market was valued at $933 million in 2017 and is projected to reach $3,446 million in 2025, registering a CAGR of 17.7% from 2018 to 2025.
Body contouring is a process that performs non-surgical or surgical medical procedures to change the shape or size of the body via removal of stubborn fat or excessive flaccid skin. These surgeries are performed on body parts such as upper arms, chest, buttocks, and torso. The various body contouring devices present in the market include laser-assisted lipolysis devices, radio frequency assisted liposuction devices, radiofrequency devices, and others.
The factor that drives the growth of the body contouring devices market includes rise in obesity among people worldwide. In addition, surge in esthetic consciousness across the globe and advancements in the field of body contouring are some of the other factors that fuel the market growth. However, high cost associated with the procedures is expected to impede the growth of the market. Conversely, rise in medical tourism coupled with surge in adoption of body contouring and high market potential in untapped emerging economies is expected to provide lucrative opportunities for the growth of the global market during the forecast period.
The minimally invasive devices segment accounted for the largest market share in 2017 due to consistency and predictability in the outcomes of the procedures and increase in obesity across the globe. Furthermore, the non-invasive devices segment is expected to grow at the highest CAGR from 2018 to 2025 and is anticipated to remain dominant during the forecast period.
Based on application, skin tightening segment accounted for the largest market share in 2017 and is expected to register the highest growth rate during the forecast period.
Body contouring devices are in high demand in hospitals and clinics. However, the medical spa segment is expected to grow at a highest CAGR during the forecast period, due to increasing demand of medical spas across the globe.
Key findings of the Body Contouring Devices Market:
- The minimally invasive devices segment accounted for one-third share of the global body contouring devices market in 2017.
- The skin tightening segment is expected to grow at the highest CAGR from 2017 to 2025.
- The hospital & clinic segment accounted for around two-thirds share of the global body contouring devices market in 2017.
- Europe accounted for more than one-fourth share of the global market in 2017.
- Asia-Pacific is expected to provide lucrative growth opportunities from 2017 to 2025.
North America accounted the highest revenue share in 2017 and is expected to maintain its dominance during the forecast period. This is attributed to high purchasing power and easy availability of devices in this region. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to increase in affordability and rise in healthcare expenditure.