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.
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.
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.
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.
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.
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.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 6.8 Billion |
| Market size forecast in 2027 | USD 17.9 Billion |
| Base Year | 2020 |
| 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 |
| Growth Drivers |
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| Restraints |
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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.
By Service Provider
By Gender
By Procedure
By Geography
The body fat reduction market size is projected to reach USD 17.9 billion by 2027.
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.
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.
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.
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.
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.
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