LAMEA 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 Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa Body Fat Reduction Market would witness market growth of 14.4% CAGR during the forecast period (2021-2027).
The rise in the elderly population and the launch of the latest devices that can perform complex body fat reduction are anticipated to boost the growth of the regional body fat reduction market during the forecast period. Additionally, factors like growing health consciousness among people and the growing expenditure of the consumer on maintaining their body appearance are acting as growth catalysts for the regional body fat reduction market.
Furthermore, the ever-growing occurrence of obesity in this region would support the regional market growth in the coming years. However, the high treatment costs of these body contouring procedures and a lack of awareness among people regarding these procedures would hinder the growth of the regional body contouring devices market. Also, the availability of various substitute methods to reduce fats would restrict the demand for body fat reduction procedures over the forecast period.
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 & appearances which has directly motivated them to prefer body fat reduction techniques. Moreover, the penetration of high-end body enhancing procedures such as body contouring and body fat reduction has increased in developed as well as developing regions, which is likely to boost the growth & demand for body fat reduction procedures worldwide.
The Hospitals & Clinics market dominated the South Africa Body Fat Reduction Market by Service Provider 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $172.3 million by 2027. The Medical spas market is showcasing a CAGR of 15.9% during (2021 - 2027). Additionally, The Others market is expected to witness highest CAGR of 16.5% during (2021 - 2027).
Based on Service Provider, the market is segmented into Hospitals & Clinics, Medical spas and Others. Based on Gender, the market is segmented into Female and Male. Based on Procedure, the market is segmented into Surgical and Non-Surgical. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
Scope of the Study
Market Segments Covered in the Report:
By Service Provider
- Hospitals & Clinics
- Medical spas
- 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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