The growing consumer desire for both a youthful appearance and minimally invasive procedures will fuel the North American laser-assisted liposuction device market

September 3, 2009—Waltham, Massachusetts— According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the growing consumer desire for both a youthful appearance and minimally invasive procedures will fuel the North American laser-assisted liposuction device market. MRG’s North American Markets for Body Contouring Devices 2009 report finds that over the next five years, many competitors will enter the liposuction device market to capitalize on revenue potential and gain market share.

Available in North America since November 2006, laser-assisted liposuction uses thermal and photodisruptive action to reduce small deposits of fat. In 2008, several laser-assisted liposuction devices were granted Food and Drug Administration (FDA) approval, including CoolTouch’s CoolLipo, Cynosure’s Smartlipo MPX, Elemé Medical’s SmoothLipo, Palomar Medical Technologies’ SlimLipo, Sciton’s ProLipo PLUS, and Syneron’s LipoLite. In Canada, only Cynosure’s Smartlipo MPX was approved, however, making it the second such device available for sale in the country. Nevertheless, other competitors are anticipated to enter the Canadian market through 2013; Palomar Medical Technologies’ SlimLipo, for example, received Health Canada approval in January 2009.

“In the coming years, the laser-assisted liposuction market will continue to grow robustly and remain the most lucrative fat reduction capital equipment market in North America,” says Kevin Flewwelling, Manager of the Aesthetics division at MRG. “Market growth will be accompanied by an expansion in the number of competitors and continuous product innovation, with firms attempting to differentiate their products to gain share.”

MRG’s North American Markets for Body Contouring Devices 2009 report covers the markets for cellulite reduction, skin tightening, fat reduction, and gastric bands in the US and Canada. The report provides full breakdowns of body contouring procedures by type and device unit sales by subtype, including five-year forecasts, up-to-date market shares, and in-depth qualitative insights. Additionally, physician opinions regarding fat reduction devices, purchasing patterns, and competitors within the US market for fat reduction devices are presented within the report. This information was gathered by MRG in October 2008 at the American Society of Plastic Surgeons conference in Chicago, Illinois.