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The body fat reduction devices industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products based on different technologies is among a key market strategy. Some of the leading industry players including Allergan Plc, Cynosure, Lumenis, Syneron Medical Ltd., among others have a notable presence in the market.
Some of the eminent market participants operating in the body fat reduction devices industry include:
Allergan Plc, Syneron Medical Ltd., Alma Lasers, Sientra, Inc., Apyx Medical Corporation., Sciton, Inc., Asclepion Laser Technologies GmbH, Lumenis, Bausch Health Companies Inc., Fotona, BTL Industries, EndyMed Medical Ltd., Cutera, Inc. and Cynosure.
Global market for body fat reduction devices was valued at around USD 4.2 billion in 2023 and is estimated to reach over USD 8.7 billion by 2032, owing to the increasing prevalence of obesity and the ongoing advancements in the body fat reduction devices.
North America body fat reduction devices market accounted for USD 1.4 billion in 2023 and will continue to grow over 2024 to 2032, attributed to the increasing emphasis on health and wellness.
The medical spas segment accounted for around USD 634.8 million revenue size in 2023, driven by a holistic approach to body fat reduction, providing a range of non-invasive and minimally invasive procedures.