PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1168302
PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1168302
The global body contouring devices market is expected to grow at a CAGR of 13.96% during 2021-2027.
MARKET OVERVIEW
The growing demand for medical aesthetics treatments is propelling the growth of the body contouring devices market. The medical aesthetic is one of the rapidly growing industries because of the rising aging population and advanced procedure launches that deliver the market a new opportunity for growth. At present, micro-needling and skin tightening treatments are some of the medical aesthetic treatments that are witnessing the highest growth worldwide.
Body contouring devices aim to improve body appearance. Body contouring treatments are MI and non-invasive surgical procedures that enhance body shape and skin texture, such as skin tightening, resurfacing, and other benefits. These procedures require highly skilled medical professionals. Abdominoplasty or liposuction, removal of man breasts, and arm lifts are some procedures performed by body contouring devices.
KEY DRIVING FACTORS IN THE BODY CONTOURING DEVICES MARKET:
TECHNOLOGICAL ADVANCEMENTS
Some technological advancements made by several companies in body contouring devices include innovations in temperature-controlled fat reduction devices, cellulite treatment devices, non-invasive sclerotherapy treatment, and developments in laser-based techniques. Alma Lasers (FOSUN PHARMA) product, the Accent Prime body contouring device, is used for skin tightening and aesthetic enhancement. Accent Prime merges the latest Ultrasound and RF technologies innovations to deliver effective, highly customized treatments and naturally long-lasting results.
SEGMENTATION ANALYSIS
INSIGHTS BY APPLICATION
The non-surgical skin tightening is the dominating segment in the application and holds the highest share in the global body contouring devices market; and is estimated to grow at the fastest rate with a CAGR of 14.81% during the forecast period. The rising demand for skin tightening devices is attributed to the increasing aging population, which leads to increasing sagging skin issues and growing concern about skin problems. American Society for Dermatologic Surgery (ASDS) reported that in 2018 about 70% of consumers considered a cosmetic procedure, with 57% specifically considering non-surgical skin tightening treatments. The segment is also experiencing continuous technological advancements.
North America accounts for the highest market share of the global skin resurfacing market owing to the increased adoption of technologically advanced devices, the presence of skilled labor, and higher disposable incomes. APAC is projected to grow faster during the forecast period owing to its increasing economy, medical tourism market, and higher disposable incomes.
The growing obese population has created huge opportunities and demand for liposuction/lipolysis and cellulite treatment devices. Non-surgical fat reduction was in most demand in 2018 after injectables, according to the American Society for Aesthetic Plastic Surgery (ASAPS). However, numerous companies are focused on developing and offering minimally invasive lipolysis devices due to the high complications linked with surgical liposuction procedures and their high cost. For instance, Bausch Health Companies' Solta Medical and Alma Lasers are now offering next-generation liposuction systems that are minimally invasive (ultrasound and laser).
Segmentation by Application
INSIGHTS BY GENDER
The demand for non-surgical skin tightening and fat reduction dominates among females. The most common cosmetic procedures that witnessed the highest growth since 2018 among females include botulinum toxin, hyaluronic acid, and non-surgical fat reduction procedures. About 92% of females in the US underwent cosmetic surgeries. In contrast, only 8% of males had cosmetic surgeries in 2020, thus showing females are the dominating consumer population in the global body contouring devices market.
However, in recent years, body contouring treatments have become one of the men's most important procedures. There is a growing demand for jawline contouring, abdominoplasty, and gynecomastia; body contouring treatments have witnessed significant growth among the male population in the last few years.
Segmentation by Gender
INSIGHTS BY AGE GROUP
The 35 and 50 age group dominates the global body contouring devices market under the age group segment. This age group is seeking the most cosmetic procedures, such as liposuction, abdominal fat reduction, and breast reduction. The 35-50 age group is expected to grow at the highest CAGR of 14.35% during the forecast period. In comparison, the segment of the under 34 age group, anti-aging surgical and non-surgical procedures that minimize wrinkles and rejuvenate the face are most popular.
Segmentation by Age Group
INSIGHTS BY END-USER
Hospitals and skin clinics dominate the end-user segmentation with the highest body contouring devices market share of 63.31%, as hospitals and skin clinics are the primary care centers in medical aesthetics. This segment is highly adopting minimally invasive body contouring devices. Skin tightening, fat reduction, cellulite treatment, etc., are common procedures performed at hospitals and skin clinics. Medical professionals such as plastic surgeons and dermatologists at hospitals and skin clinics provide patients with a well-scheduled treatment plan.
Medical spas and beauty centers are the second leading end-users of the body contouring devices market. They are anticipated to be the fastest-growing segment, with the highest CAGR of 14.59% during the forecast period. Its growth is attributed to its low cost and convenient treatment plans. Several vendors now offer body contouring devices for skin tightening, skin rejuvenation, and fat reduction products online at affordable costs that individuals can safely use without any instructions or consultations from professionals.
Segmentation by End-User
GEOGRAPHICAL INSIGHTS
The growing medical tourism from other countries in the region is also one of the driving factors for the region's body contouring devices market growth.
Segmentation by Geography
VENDOR LANDSCAPE
The global body contouring devices market is highly dynamic and competitive. Several international, regional, and local vendors offer a diverse and comprehensive range of body contouring devices with wide applications. Most industry vendors offer a wide range of minimally invasive (MI) body contouring devices. Some of the key vendors in the market include AbbVie, Cutera, Bausch Health Companies, Hologic, and FOSUN PHARMA.
A surge in innovations and investments in developing body contouring devices can be witnessed to increase profits. There is also a surge in product launches in recent years. In 2020, InMode launched its Morpheus8 body multipulse burst RF vulcanization technology, an RF micro-needling device with a minimum penetration of about 7mm. A number of next-generation body contouring devices have been developed, and many are in the pipeline. BTL has developed EMSCULPT NEO, released in October 2020. This device combines pulses of the two technologies without heating the magnet and causing a thermal burn. In addition, Emsculpt NEO is a hands-free treatment that can achieve an average of 30% fat reduction and 25% muscle volume growth.
The competition in this global body contouring devices market is expected to strengthen during the forecast period. Leading players have a wide range of product portfolios in various applications, mainly for skin tightening as the aging population is rising. These companies are making huge R&D investments and developing innovative and technologically advanced products. Some prominent vendor activities in the body contouring devices market include:
The leading companies with a strong footprint in the developed nations are strategically expanding their business in low- and middle-income countries, which is attributed to the growing awareness and
Key Vendors
Other Prominent Vendors
KEY QUESTIONS ANSWERED
LIST OF TABLES