Dublin, Jan. 21, 2022 (GLOBE NEWSWIRE) -- The "Global Body Fat Reduction Market By Service Provider, By Gender, By Procedure, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
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 is expected to 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.
Gender Outlook
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 is expected to continue to be a dominant market till 2027. The Male market is expected to witness highest CAGR of 13.6% during (2021 - 2027).
Procedure Outlook
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 is expected to 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.
Regional Outlook
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.
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.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Body Fat Reduction Market by Service Provider
3.1 Global Hospitals & Clinics Market by Region
3.2 Global Medical spas Market by Region
3.3 Global Others Market by Region
Chapter 4. Global Body Fat Reduction Market by Gender
4.1 Global Female Body Fat Reduction Market by Region
4.2 Global Male Body Fat Reduction Market by Region
Chapter 5. Global Body Fat Reduction Market by Procedure
5.1 Global Surgical Market by Region
5.2 Global Non-Surgical Market by Region
Chapter 6. Global Body Fat Reduction Market by Region
Chapter 7. Company Profiles
7.1 Allergan PLC (AbbVie)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Acquisitions and Mergers:
7.1.5.2 Product Launches and Product Expansions:
7.1.5.3 Approvals and Trials:
7.2 Bausch Health Companies, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.3 Cutera, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Product Launches and Product Expansions:
7.3.5.2 Geographical Expansions:
7.3.5.3 Approvals and Trials:
7.4 Alma Lasers Ltd. (Sisram Medical Ltd.)
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.4.5 Recent strategies and developments:
7.4.5.1 Product Launches and Product Expansions:
7.5 Vlcc Health Care Limited
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.6 Apollo Hospitals Enterprise Limited
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental Analysis
7.7 Candela Medical Corporation
7.7.1 Company Overview
7.8 Sciton, Inc.
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Product Launches and Product Expansions:
7.9 Lumenis Ltd.
7.9.1 Company Overview
7.9.2 Recent strategies and developments:
7.9.2.1 Geographical Expansions:
7.10. Cynosure, LLC
7.10.1 Company Overview
7.10.2 Recent strategies and developments:
7.10.2.1 Product Launches and Product Expansions:
7.10.2.2 Geographical Expansions:
For more information about this report visit https://www.researchandmarkets.com/r/emlptn
