Body Contouring Devices Market To Hit USD 3.00 Billion By 2029 With 11.4% CAGR | Marketsandmarkets™

(MENAFN- GlobeNewsWire - Nasdaq) Delray Beach, FL, Oct. 31, 2024 (GLOBE NEWSWIRE) -- The global body contouring devices market is expected to grow from USD 1.74 billion in 2024 to USD 3.00 billion by 2029, at a CAGR of 11.4%. This rapid growth is driven by the increasing demand for non-invasive procedures, such as fat freezing, radiofrequency, and HIFU, which offer quicker recovery times and fewer complications compared to traditional surgical options like liposuction. Emerging markets in the Asia Pacific, known for their booming medical tourism, offer affordable treatments, contributing to the market's expansion. However, high treatment costs and a lack of reimbursement, especially in North America, are key challenges. Opportunities lie in the improving healthcare infrastructure in countries like India and Brazil, while strict regulatory standards in regions like Europe and North America may limit market entry for smaller players. Non-invasive devices, particularly for fat reduction, are projected to dominate the market, with individuals aged 35 to 50 years and women being the largest demographic groups. North America currently holds the largest market share, but the Asia Pacific is expected to see significant growth due to increasing demand and lower costs.

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By product, the body contouring devices market is segmented into non-invasive and invasive devices. In 2023, the non-invasive devices segment held the majority share in the body contouring devices market. The largest portion of non-invasive segment is driven by added benefits offered by the non-invasive device, predominantly increase in demand for the procedures with lowest risk and highest yield in short time and rising geriatric population.

By application, the market is primarily segmented into fat reduction, skin tightening, cellulite treatment and body toning and sculpting. In 2023, fat reduction accounted for the highest share of this market. The large share is attributed to the increase in obesity among men and women, changing lifestyle leading to increased heart risk, body consciousness of the people particularly in women to look aesthetic and appealing and increase in people's perspective for easy way of reducting body fat with less efforts and lifestyle changes.

By age group, the market is primarily segmented into below 35 years, between 50 to 50 years and above 50 years. The between 35 to 50 years segment accounted for the largest share of the body contouring devices market in 2023. The dominant presence in this segment is fueled by the increasing the target population due to lower birth rate, acceptance of the natural body by the population below 35 years or young population and peer pressure of the fellow age mates triggering a need of aesthetic body for the people above 35 years.

By gender, the market is based segmented into male and female. Female dominated the largest share of the body contouring devices market in 2023. The aesthetic need of women is higher than men since always, access to easy available body contouring procedures or surgeries to women with appropriate consultations and the increased competition among women for aesthetic appearance is majorly the striving force for this market.

By end user, the market is primarily segmented into hospitals, specialty clinics and medical spas and beauty centers. The specialty clinics segment accounted for a larger share of the body contouring devices market in 2023. The substantial portion of this market segment is attributable to the considerable volume of specialty doctors/surgeons that operate in the aesthetic segment of medical, rising demand of the experts to guide the target population safely to body contouring demands and government regulations of the licenced person to conduct these procedures.

The body contouring devices market is segmented into six major regions-North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa and GCC Countries. North America is the largest regional market for body contouring devices. North America's significant share in this market is due to the escalating healthcare expenditures, the advanced healthcare infrastructure in both the US and Canada and increased research and development expenses in the region.

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The major players in this market are Abbvie, Inc. (US), Cutera (US), Bausch Health Companies Inc. (Canada), InMode Ltd. (Israel), Venus Concept (Canada), ENDYMED Medical (US), Cynosure Lutronic (US), Lumenis BE Ltd. (Israel), Alma Lasers (Israel), Candela Corporation (US).

Abbvie, Inc. (US):
Abbvie, Inc. is the leading player in the body contouring devices market. It has its major geographic presence in US and internationally particularly in the aesthetics market. It has its sales and distribution globally for its body contouring devices. The company adopts multiple strategies like product launches and approval by US FDA and acquisitions of the small players for expanding the market even further. These strategies help in maintaining the leading position in the market. In 2022, the company received FDA approval for its derma filler.

InMode Ltd. (Israel):
InMode Ltd. Held the second largest position in the body contouring devices market. The company has a diversified variety of products that fulfils the need of the market along with wide distribution network. The company provides all range of body contouring procedures including non-invasive, invasive and minimally invasive products used for the variety of applications. Company has its highest presence in US and Europe.

Bausch Health Companies, Inc. (Canada):
The dominant market position is attributed to heightened sales of advanced non-invasive instruments provided under its dedicated subsidiary for aesthetic devices. Additionally, the widespread distribution network of the company throughout the globe is supporting the market growth. Moreover, the strategic escalation of investments aimed at broadening the array of product offerings within the surgical robot's market significantly bolsters this leading position. The company expands its presence through the product approvals in different countries.

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