Body Fat Reduction Market size to exceed $17bn by 2028

Body Fat Reduction Market size is expected to surpass USD 17 billion by 2028, according to a new research report by Global Market Insights Inc.
 

Rising focus on body aesthetics especially in North America and Latin America will augment the demand for several body fat reduction procedures. Increasing adoption of several fat reduction procedures such as liposuction, abdominoplasty, cryolipolysis, and light therapy among others will contribute to the overall market revenue size. For instance, according to the International Society of Aesthetic Plastic Surgery, in 2020, abdominoplasty and liposuction were included in the top 5 aesthetic surgical procedures worldwide, with over 0.8 million and 1.5 million procedures respectively. Moreover, high adoption of body contouring procedures in several settings including aesthetic clinics, hospitals, and medical spas are expected to fuel the market statistics.
 

Increasing number of invasive as well as non-invasive and minimally invasive body fat reduction procedures will spur overall market growth in forthcoming years. For instance, according to the American Society of Plastic Surgeons, in 2020, over 15.6 million cosmetic procedures were performed in the U.S. In addition, rising customer preference for non-invasive as well as minimally invasive fat reduction procedures will accelerate the demand for body fat reduction market.
 

Further, increasing healthcare spending ability of population in developed and developing regions coupled with high disposable income is expected to positively influence the market share. Strong presence of numerous service providers with wide range of service portfolio and availability of advanced technologies will propel the overall market forecasts.
 

The COVID-19 pandemic has negatively impacted on the body fat reduction market growth to an extent. Sudden fall in aesthetic procedures due to safety concern and temporary ban on elective procedures during the start of pandemic. Moreover, movement restrictions in several nations has led to decrease in patient visits in clinical settings. Further, less spending on elective procedures among population has hampered overall market growth during initial stages of pandemic. However, with reduction in COVID-19 cases in 2021, and resumption of clinics and cosmetic services across the world, the market has observed recovery in the number of procedures and revenue in 2021.
 

Growing emphasis for non-invasive cosmetic procedures will accelerate the overall market size

Based on procedures, body fat reduction market is segregated into surgical and non-surgical. Further, non-surgical segment is sub divided into ultrasound, cryolipolysis, laser liposuction, and others. Non-surgical procedure segment is projected to exhibit 15% CAGR during projected timeline. The growth is primarily attributable to rising customer preference towards noninvasive body fat reduction procedures.
 

As per the International Society of Aesthetic Plastic Surgery, in 2020, around 560,000 nonsurgical body fat reduction procedures were performed worldwide. Also, these procedures offers several advantages such as reduced pain, minimal post complications, shorter span and enhanced success rate, thus stimulating segmental landscape. Moreover, continuous developments in non-surgical approaches and integration of advanced technologies such as laser and light technology in body fat reduction treatments will proliferate the overall market size.
 

Browse key industry insights spread across 150 pages with 259 market data tables & 13 figures & charts from the report, “Body Fat Reduction Market Forecasts By Procedure (Surgical {Liposuction, Abdominoplasty}, Non-surgical {Cryolipolysis, Ultrasound, Laser Lipolysis}), By Gender (Female, Male), By Service Provider (Hospitals, Clinics, Medical Spas), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/body-fat-reduction-market
 

Growing number of tummy tuck procedures among men will impel segment demand

Based on gender, body fat reduction market is segmented into female and male. Male segment held more than 6% revenue share in 2021. Increasing adoption of sedentary lifestyle that leads to obesity is expected to contribute to segment expansion. Growing awareness about body shaping and related aesthetic procedures among male population will strengthen market growth potential. For instance, as per the American Society of Plastic Surgeons, plastic surgery statistics report, male abdominoplasty procedures recorded around 63% increase between 2000 to 2020.
 

Developing sophisticated infrastructure and expanding network will accelerate customer preference for cosmetic procedure in medical spas

Based on service provider, body fat reduction market is segregated into hospitals, clinics, medical spas, and others. Medical spas segment accounted for over USD 1 billion in 2021 and is estimated to grow significantly during the anticipated timeframe. Expanding network of medical spas with developing infrastructure in developing economies is expected to spur market statistics. Medical spas catering numerous specialized body fat reduction procedures has positively influenced industry outlook. Furthermore, availability of extensive cosmetic services portfolio, skilled professionals, and patient convenience will bolster the customer preference towards medical spas thus boosting the segment demand.
 

Rising prevalence rate of obesity coupled with increasing adoption rate will offer lucrative growth opportunities for European market

Europe body fat reduction industry exceeded 14% market share in 2021 and is anticipated to grow at moderate rate over forecast timeframe. Growing adoption of advanced technologies in settings will propel the regional market share. Rising demand for body fat reduction procedures owing to high prevalence of obesity in the region will drive the market trends. For instance, according to the OECD health statistics report, in 2018, the average prevalence rate of obesity is 24% in EU countries. Moreover, growing preference for medical tourism for cosmetic surgeries in numerous European countries will impel regional market size.
 

Development of novel devices and treatment approaches by the service providers will create procedural demand in the body fat reduction industry

Some of the notable industry players involved in the body fat reduction market are Amirlak Plastic Surgery, University of Texas Southwestern Medical Centre, Elite Body Sculpture, Apollo Cosmetic Clinics, Transform Hospital Group, JK plastic surgery center, The Plastic Surgery Clinic, Transform Cosmetic Surgery, VIDA Wellness & Beauty, Elite Body Sculpture, Waldman Schantz Plastic Surgery Center and VLCC Wellness & Beauty Center among others.
 

These market players are undertaking numerous growth strategies such as collaborations and service extension to broaden their customer base. For instance, in October 2020, Elite Body Sculpture launched AirSculpt, an innovative method to transfer or remove unwanted body fat. This has helped to expand service offerings of the company.