Global Body Fat Reduction Market By Service Provider (Hospitals & Clinics, Medical spas and Others), By Gender (Female and Male), By Procedure (Surgical and Non-Surgical), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Body Fat Reduction Market
Market Report Description
The Global Body Fat Reduction Market size is expected to reach $17.9 billion by 2027, rising at a market growth of 11.9% CAGR during the forecast period. Body fat reduction refers to the treatment which majorly includes reducing or removing excessive, undesirable fats from various areas of the body. One of the major causes of weight gain is the deposition of fats which further leads to obesity. Obesity among the kids, young and older generation is drastically increasing across the world. Moreover, obesity increases the occurrence of various kinds of health issues such as cardiac disease, hypertension, high blood pressure, diabetes, cholesterol, and immobility. Thus, there is high popularity of body fat reduction and body reshaping procedures which have been performed with the help of non-invasive and surgical techniques.
Some of the growth catalysts for the body fat reduction market are the rise in demand for body contouring treatments, increasing healthcare spending, and the increase in the obese population. In addition, an inactive lifestyle is a common cause of obesity, physical inactivity, with behavioral risk factors such as smoking, alcohol consumption, and stress are also significantly responsible for the rising cases of obesity around the world. Moreover, some of the key drivers for the market are an increase in awareness of such health hazards, increasing concerns among the people about healthcare, and growing spending in the healthcare industry. Further, the growth of the body fat reduction market would witness bright growth prospects due to the surge in demand, increased adoption of body contouring procedures, and rising obsessed population.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has severely impacted the whole aesthetic and beauty market. The demand for all the noninvasive and invasive aesthetic processes was negatively affected during the pandemic, which also include the body fat reduction market. As governments imposed different kinds of rules and regulations like the travel ban, lockdown, and others, due to which medical treatments other than COVID-19 were put on complete halt. Moreover, as body fat reduction is merely a procedure to reduce fat and is non-fatal, many hospitals and clinics were not performing these procedures. In addition, as body fat reduction procedures are considered as non-essential activities, people had reduced their expenditure on these procedures which had hampered the growth of the market during the pandemic.
Market Growth Factors:
Emerging trend and popularity of cosmetic surgeries
As the demand for Cosmetic surgeries has gained high momentum around the world, the demand for body fat reduction procedures and techniques has been increased in the last couple of years. People are highly shifting towards these procedures in order to remove extra fat, thereby improving their overall appearance. Moreover, the rise in aesthetic awareness has motivated a considerable number of people to choose these procedures. Additionally, professionals perform several procedures to improve any particular area of the body that has excess fat or untoned skin.
Rise in disposable income of the consumers
The surge in disposable income has motivated many consumers to spend on different luxurious activities and cosmetic products. In addition, people have started to give more time and energy to their looks and appearance. As a result, the demand for body contouring procedures including body fat reduction has increased drastically in the last couple of years. In addition, the demand for beauty and aesthetic products is also increasing globally. Additionally, with the higher living standard, people have also increased their spending on beauty & appearance which has directly motivated them to prefer body fat reduction techniques.
Market Restraining Factor:
High cost of these procedures
The procedure performed for body fast reduction includes a number of different devices, tools, and medications. As a result, these procedures become highly costly for reshaping or contouring a person’s body. Additionally, the rise in technological developments of body contouring devices is eventually contributing to the overall cost of these procedures and thus, making it difficult for middle-class people to opt for body contouring procedures including body fat reduction. Thus, these factors are instrumental in hampering market growth.
Service Provider Outlook
Based on Service Provider, the market is segmented into Hospitals & Clinics, Medical spas and Others. The hospitals and clinics segment displayed the highest growth rate in 2020 and the trend is likely to unfold even during the forecast years. This is majorly due to the fact that hospital settings are highly infused with advanced technologies, fat reduction devices, the required infrastructure to perform these procedures, and professional practitioners.
Based on Gender, the market is segmented into Female and Male. The Female market dominated the Global Body Fat Reduction Market by Gender 2020, and would continue to be a dominant market till 2027. The Male market is expected to witness highest CAGR of 13.6% during (2021 - 2027).
Based on Procedure, the market is segmented into Surgical and Non-Surgical. In 2020, the surgical segment procured the maximum revenue share of the body fat reduction market and would exhibit a similar trend even during the forecasting period. This is attributed to the growing demand for weight loss & obesity procedures and increased aesthetic improvement procedures.
|Market size value in 2020||USD 6.8 Billion|
|Market size forecast in 2027||USD 17.9 Billion|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 11.9% from 2021 to 2027|
|Number of Pages||189|
|Number of Tables||330|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Service Provider, Gender, Procedure, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The APAC region is likely to exhibit a promising growth rate in the body fat reduction market during the forecast period. This is attributed to the increasing regional population, rising number of clinics and other centers that provide body fat reduction services, and massive investments in the healthcare industry.
Free Valuable Insights: Global Body Fat Reduction Market size to reach USD 17.9 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allergan PLC (AbbVie), Bausch Health Companies, Inc., Cutera, Inc., Alma Lasers Ltd. (Sisram Medical Ltd.), Vlcc Health Care Limited, Apollo Hospitals Enterprise Limited, Candela Medical Corporation, Sciton, Inc., Lumenis Ltd. and Cynosure, LLC.
Recent Strategies Deployed in Body Fat Reduction Market
- Jul-2021: Cynosure announced the release of LIPOcel. The product is developed for focal fat reduction and precision body contouring in areas that are difficult to alter with the help of diet, exercise, and lifestyle alone including the flanks, stomach, knees, arms, and back of thighs.
- May-2021: Cynosure expanded its geographical footprint by establishing its new Cynosure Experience Centre in London. The new center is equipped with research & training facilities, treatment demonstration rooms, and operational commercial spaces, and would act as a collaborative workspace for Cynosure and its customers, partners, and employees around the globe.
- Jan-2021: Cutera expanded its geographical footprints by launching the latest truBody concept to the UK. This concept integrates body sculpting platforms, truSculpt iD, and truSculpt flex, to achieve an average 24% fat reduction and 30% muscle mass.
- Jan-2021: Allergan Aesthetics unveiled CoolSculpting Elite, an advanced fat reduction system with applicators developed to support the body's natural curves. Through this launch, the company aimed to treat various body areas and customize the treatment plan of every patient.
- Sep-2020: Lumenis expanded its geographical reach by introducing revolutionary NuEra Tight with FocalRF technology, in Europe and the Middle East. NuEra Tight with FocalRF technology was designed to offer customized body sculpting treatments to a patient's varied requirements. Moreover, this technology provides treatment providers with sophisticated tools for aesthetic patients.
- Sep-2019: Cutera received regulatory approval from Health Canada. The approval was given for expanding the indications for utilization for truSculpt iD to include reduction of circumference of the abdomen and non-invasive lipolysis.
- Jul-2019: Cutera received regulatory approval by Agência Nacional de Vigilância Sanitária (ANVISA), Brazil's healthcare regulatory authority, for truSculpt iD and truSculpt 3D systems. The devices fall under the truSculpt family and utilize advanced monopolar radiofrequency technology to increase tissue temperature for fat reduction and are approved by ANVISA for circumferential reduction, body sculpting and contouring, the treatment of skin laxity, and for the enhancement in the appearance of cellulite.
- Jul-2019: Cynosure unveiled two latest products viz. TempSure Firm handpiece and a petite mask for SculpSure submental treatments. Through this launch, the company aimed to expand its current offerings of advanced aesthetic treatments. The latest 60 mm handpiece enables practitioners to treat bigger areas of the body at a rapid rate, without surgery or downtime. By using the petite mask, they can assist even more men and women feel their best with non-surgical fat reduction in that area.
- Apr-2019: Alma introduced BeautiFill, the first laser-assisted fat harvesting platform on the market. The new platform aimed to produce high-quality autologous fat for holistic body and face contouring, with the additional advantages of decreasing surgical procedure time and related risks.
- Nov-2018: Sciton rolled out ALLURATM, a micro-invasive laser module. This product allows quick fat reduction and skin contraction1 in the submental, neck, and chin areas.
- Oct-2018: Allergan received FDA clearance for CoolSculpting treatment to treat the submandibular area. This approval makes CoolSculpting the first and only non-surgical fat reduction treatment to contour the area below the jawline and enhance the appearance of lax tissue along with submental fat treatments.
- Jul-2018: Cutera rolled out truSculpt iD, the next evolution in body sculpting with innovative hands-free capability and the capability to treat a complete abdomen in as little as 15 minutes. Through this launch, the company would further strengthen its mission to develop innovative technologies that advance the medical aesthetics industry and assists clinicians expand their body sculpting practice.
- Jul-2018: Alma rolled out TuneFace and MiniSpeed. TuneFace is the latest treatment protocol that blends two applicators a radiofrequency handpiece and MiniSpeed is a miniature ultrasound applicator. Through this launch, the company would complement long-lasting skin tightening and fat reduction in areas that are highly challenging to reach.
- May-2017: Cutera introduced truSculpt 3D, the latest advancement in non-surgical body sculpting, providing approximately 24 percent fat reduction in a single treatment. The truSculpt 3D mainly focuses on three main properties i.e. dimension, definition, and depth, and provides an optimized and tailored approach to body sculpting for a majority of size areas, small or large.
- Apr-2017: Allergan acquired ZELTIQ Aesthetics, a medical technology company behind a proprietary controlled-cooling fat-reducing treatment, CoolSculpting. The acquisition aimed to expand the company's leading global aesthetic business into the highly complementary and growing body contouring segment.
Scope of the Study
Market Segments Covered in the Report:
By Service Provider
- Hospitals & Clinics
- Medical spas
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Allergan PLC (AbbVie)
- Bausch Health Companies, Inc.
- Cutera, Inc.
- Alma Lasers Ltd. (Sisram Medical Ltd.)
- Vlcc Health Care Limited
- Apollo Hospitals Enterprise Limited
- Candela Medical Corporation
- Sciton, Inc.
- Lumenis Ltd.
- Cynosure, LLC
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What would be the size of the body fat reduction market by 2027?
The body fat reduction market size is projected to reach USD 17.9 billion by 2027.
What are the key driving factors and challenges in the body fat reduction market?
Emerging trend and popularity of cosmetic surgeries are driving the market in coming years, however, high cost of these procedures have limited the growth of the market.
What are the major top companies in the competitive landscape?
Allergan PLC (AbbVie), Bausch Health Companies, Inc., Cutera, Inc., Alma Lasers Ltd. (Sisram Medical Ltd.), Vlcc Health Care Limited, Apollo Hospitals Enterprise Limited, Candela Medical Corporation, Sciton, Inc., Lumenis Ltd. and Cynosure, LLC.
Which segment dominated the body fat reduction market in 2020?
The Hospitals & Clinics market dominated the Global Body Fat Reduction Market by Service Provider 2020, and would continue to be a dominant market till 2027.
Which segment shows a high revenue share of the body fat reduction market in 2020?
In 2020, the female segment garnered the maximum revenue share of the market. Moreover, the segment is expected to showcase the same trend during the forecast period.
Which region is leading the market?
In 2020, North America emerged as the leading region in the body fat reduction market. The region would maintain its dominance even during the forecasting period.