Body Contouring Devices Market | An insight on the important factors and trends influencing the market
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Victims of obesity and bariatric surgery patients being the high probable targets of the global body contouring devices market
Body contouring is usually adopted by obese population or the people who have undergone bariatric surgeries. According to WHO, in 2014, over 1.9 billion adults were reported to be overweight, out of which 600 million were obese. This accounts for 13% share of the total world population and are people that would potentially utilize body contouring facilities. Moreover, the annual report of Bariatric Surgery Registry in 2015, suggests that 120 sites in Australia are performing bariatric surgeries on regular basis leading to high probabilities of this population opting for body contouring.
Europe and Asia as upcoming competitors in the global body contouring devices market
Based on regional segmentation, the global body contouring devices market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to dominate the market owing to increasing inclination of the populace towards high awareness of body posture and shape. Europe and Asia are target markets for non-invasive body contouring devices. Though North America offers tremendous opportunity, the FDA is yet to approve these devices. Moreover, the non- invasive nature and lower costs of these treatments add up to growing sales of body contouring devices in Asian and European countries.
Increasing inclination of the populace, especially in emerging economies, towards maintaining aesthetic appeal creates a highly conducive environment for market growth
The body contouring devices market is majorly driven by increase in the rate of obesity at a global scale. The fact sheet of WHO in the year of 2016 states that the global obesity has more than doubled since 1980. The other factors driving the market include advancements in the field of aesthetics and increasing awareness among people regarding fitness. However, the high treatment costs of body contouring could hinder the market growth. The reimbursement policies of these procedures does not include the cost of aesthetic products that are used in the process which is another restraint for the global body contouring devices market.
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The key players operating global body contouring devices market are Cynosure, Meridian Co. Ltd., Syneron Medical Ltd., Lumenis, Alma Lasers, Ltd and Palomar Medical Technologies.
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