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Body Contouring Devices
Body Contouring Devices
The Global Body Contouring Devices Market is Forecast to Reach $2 billion by 2017
Hyderabad,
AP,
India
(prbd.net)
12/04/2011
The global market for body contouring devices was valued at $857.5m in 2010, and is forecast to reach $2 billion by 2017 at a CAGR of 13%. The market is mainly driven by increasing patient awareness of procedures available to them. This is supplemented by a number of factors relating to the supply side of the market. The number of players in the body contouring market has increased and consequently led to intense competition between companies. This is expected to lead to a reduction in prices in the near future, in turn increasing affordability for patients. Non Invasive devices will be the fastest growing category in the body contouring device market. Non Invasive devices are driven by their associated benefits, such as zero downtime, cost effectiveness and better efficacy in fat reduction. Emerging economies will be the focal point for the new entrants and existing companies in this market. Emerging markets have huge potential for body contouring procedures due to rising income levels which will in turn facilitate better affordability. The recovery of developed economies is a key factor for the growth of the body contouring device market. In 2010, revenue from body contouring devices in the US and Europe grew by approximately 30%-40% in 2009. Lack of reimbursement for aesthetic procedures along with the need for multiple treatments is the major restraint for this market.
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The US contribution to the global body contouring device market was $330m in 2010, and is forecast to reach $700m by 2017 at a CAGR of 11%. The US is the biggest market for body contouring devices and will remain so in the future. The US market for body contouring devices is currently dominated by minimally invasive devices, unlike Europe and Asia Pacific. This is due to the fact that many non Invasive devices which are approved and available for use in Europe and Asia Pacific are still awaiting FDA approval in the US. As a result, FDA approval for more non Invasive devices in the near future is expected to drive the market for body contouring devices in the US. According to the American Society for Aesthetic Plastic Surgery (ASAPS), 80% of US residents are unhappy with their physical appearance and make use of aesthetic procedures. 90% of these patients opt for non Invasive devices due to cost effectiveness and minimal patient discomfort. The fusion of minimally invasive and non Invasive devices will drive the market for body contouring devices in the US.
GlobalData’s new report, “Body Contouring Devices - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global body contouring devices market. The report provides market landscape, competitive landscape and market trends information on the body contouring devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.
This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.
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