Body Fat Reduction Market To Reach $13,910.63 Million By 2030
Weight gain and obesity can result in serious chronic conditions such heart problems, high blood pressure, cholesterol, and diabetes. Although exercise and a healthy diet are natural ways to get rid of excess fat, pockets of fat can remain in various areas of the body. That's why more and more people are turning to plastic surgery to get rid of stubborn fat and achieve a trim, well-shaped body. Plastic surgery in NYC involves the use of advanced techniques to remove excess fat from the body. According to a report from Allied Market Research, the body fat reduction market was valued at $7,587.77 million in 2020 and is expected to reach $13,910.63 million by 2030. The market is expected to register at a CAGR of 7.5% from 2021 to 2030.
The key factors driving the demand for body fat reduction procedures are -
Increase in prevalence of obesity
Increasing focus on aesthetics among both women and men
Rise in body image awareness in developed and developing countries
Rise in demand for body sculpting or body contouring treatments
Availability of minimally invasive treatments
Closure of parks, fitness centers, educational institutions, and inculcation of work from home (WFH) culture due to COVID-19 pandemic that lead to increase in weight gain issues and obesity cases, is also expected to boost the demand for fat reduction treatments during the forecast period. However, high cost of these procedures and certain post treatment complications are expected to restrain the market growth.
Adoption of minimally invasive treatment procedures for body fat reduction is increasing, due to its emphasis on lesser blood loss, reduced patient admission, safety and ease of usage, higher affordability, less invasiveness, and less discomfort as well as minimum chance of complications.
The market is segmented on the basis of procedure type, gender, end user, and region. On the basis of procedure type, the market is categorized into surgical and non-surgical. The surgical segment is further categorized into liposuction and abdominoplasty. Moreover, the non-surgical segment is subdivided into cryolipolysis, ultrasound, and others. The surgical segment dominated the market in 2020, and is expected to continue this trend during the forecast period, due to increase in demand for weight loss & obesity treatments and rise in aesthetic enhancement procedures.
On the basis of gender, the market is segmented into male and female. The female segment led the market in 2020, and is expected to retain its dominance during the forecast period, owing to its popularity due to self-consciousness for pleasant and artful appearances.
End users of the market are - hospitals & clinics, medical spas, and others. The hospitals and clinics segment exhibited highest growth in 2020, and is expected to continue this trend during the forecast period.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
North America accounted for a majority of the market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of obesity cases, presence of key players, increase in healthcare expenditure, advancements in technology, and rise in government initiatives in the region. At the same time, Asia-Pacific is expected to witness notable growth, owing to increase in overall population, surge in facilities offering body fat reduction services and increased investments in the healthcare sector in the region. Asia-Pacific region is expected to experience growth at the highest rate, registering a CAGR of 8.5 % during the forecast period.
Key players operating in the global body fat reduction market are AbbVie Inc. (Allergan Inc.), Apollo Hospitals Enterprise Limited (Apollo Cosmetic Clinics), Bausch Health Companies Inc. (Solta Medical International Inc.), Candela Medical, Cutera Inc., Cynosure, Llc., Lumenis, Ltd., Sciton, Inc., Sisram Medical Ltd (Alma Lasers Ltd.), and VLCC Health Care Ltd.
NYC plastic surgery practices offer a wide range of minimally invasive energy assisted liposuction procedures like Smartlipo, Vaser and Bodytite as well as noninvasive procedures like BodyFX, InMode EVOKE and EVOLVE. Regardless of the treatment you are seeking, make sure that the plastic surgeon you have choose is an expert is using these fat reduction technologies.