05 Mar 2021
Posted in Medical Devices
Increasing desire to enhance physical appearance propelling body contouring market in South Korea, says GlobalData
With a greater number of patients seeking alternatives to traditional diet and exercise to achieve their ideal body image, there is a rising demand for body contouring devices market in South Korea making it the third largest market in Asia-Pacific (APAC), says GlobalData a leading data and analytics company.
GlobalData’s report, ‘Body Contouring Devices (General Surgery) – Global Market Analysis and Forecast Model (COVID-19 market impact)’, reveals that the body contouring devices market in South Korea is expected to grow at a compound annual growth rate (CAGR) of 7.1% between 2020 and 2030.
Medha, Medical Devices Analyst at GlobalData, comments: “Increasing number of cosmetic clinics, influence of social media, increasing desire for ideal body image, medical tourism, social acceptance, hike in the number of patients with obesity and high body mass index are some of the factors driving the body contouring devices market in South Korea.”
In APAC, China accounted for the largest market share in 2020, followed by Japan and South Korea. However, South Korea will be the fastest growing market in the region as physical appearance is an important part of the Korean culture. Hologic Inc. and InMode Ltd. are the leading players of body contouring devices market in South Korea.
There is an increasing demand for non-invasive body contouring methods such as CoolSculpting as they offer a non-surgical option for fat removal. High cost of surgical treatments, surgery complications and preference to non-surgical methods are propelling the non-invasive body contouring devices market in South Korea.
Ms Medha concludes: “Besides advancements in the accessibility and quality of treatment, social media is also playing a major role in driving the body contouring devices market forward. However, it is crucial to improve the quality and integrity of the information available online to avoid any negative effects of such treatments.”