Portland, OR, Nov. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global body fat reduction market generated $7.58 billion in 2020, and is expected to reach $13.91 billion by 2030, witnessing a CAGR of 7.5% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Surge in prevalence of obesity, focus on aesthetics and cosmetic surgeries, technological advancements, and increase in adoption of minimally invasive procedures drive the global body fat reduction market. However, high cost of procedures coupled with post treatment complications hinders the market growth. On the other hand, new developments and a rise in the number of facilities offering fat reduction services are expected to create opportunities in the next few years.
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Impact of Covid-19 on Body Fat Reduction-
- The Covid-19 pandemic resulted in a decline in body fat reduction procedures across the globe as hospitals shifted their staff to take care of increase in number of Covid-infected patients. Moreover, non-emergency surgeries were postponed to avoid possibility of cross-contamination.
- Owing to lockdown measures implemented by the governments in many countries, there has been closedown of parks, educational institutions, and fitness centers along with adoption work from home (WFH) culture. This increased weight gain issues and obesity cases.
- Post-lockdown, medical spas and gyms would open and body fat reduction activities would increase. This, in turn, will lead to growth of the market.
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The report offers detailed segmentation of the global body fat reduction market based on procedure type, gender, end-user, and region.
Based on procedure type, the surgical segment accounted for the largest share in 2020, contributing to more than 90% of the total share, and is estimated to maintain its lead position throughout the forecast period. However, the non-surgical segment is expected to register the fastest CAGR of 10.2% from 2021 to 2030.
Based on end-user, the hospitals and clinics segment contributed to the highest share in 2020, holding more than half of the total share of the global body fat reduction market, and is expected to continue its leadership status during the forecast period. However, the medical spas segment is projected to witness the highest CAGR of 8.6% from 2021 to 2030.
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Based on region, North America accounted for the highest share in 2020, contributing to nearly one-third of the total share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is expected to portray the largest CAGR of 8.5% during the forecast period.
Leading players of the global body fat reduction market analyzed in the research include AbbVie Inc. (Allergan Inc.), Bausch Health Companies Inc. (Solta Medical International Inc.), Apollo Hospitals Enterprise Limited (Apollo Cosmetic Clinics), Cutera Inc., Candela Medical, Lumenis, Ltd., Cynosure, Llc., Sisram Medical Ltd (Alma Lasers Ltd.), Sciton, Inc., and VLCC Health Care Ltd.
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