Body contouring is growing in popularity with the availability of advanced non-invasive fat reduction procedures and minimally invasive options like laser liposuction. According to the report from Global Market Insights, body fat reduction market, which was USD 8.5 billion in 2019, is expected to reach $17.5 billion by 2026, The market is set to expand at a CAGR of more than 10.4% during the forecast period 2020-2026, owing to the increasing focus of the people on body aesthetics.
The key factors driving the growth of the fat reduction market are:
- Increasing prevalence of obesity globally
- Rising customer preference for non-invasive procedures
- Growing focus on aesthetics in North America and Latin America
- Technological advancements and new product development for fat reduction
- Increasing number of facilities offering body contouring services
However, risk of postoperative complications and high cost of surgical procedures are factors that could restrain market growth.
Innovations in devices for performing non-invasive and minimally invasive fat reduction procedures will drive the industry’s expansion. Several global and local players are have developed novel devices for a wide range of new procedures such as cryolipolysis, radiofrequency laser lipolysis, and ultrasound among others.
The report divides the market on the basis of procedure, gender, service providers and regions. By procedure, the market is segmented into Surgical (Liposuction, Abdominoplasty) and Non-surgical (Cryolipolysis, Ultrasound, Laser Lipolysis and Others).
The rising number of tummy tuck procedures will expand revenue. Abdominoplasty helps the patients to get rid of undesired fat deposits in the abdominal area. The procedure helps women to reduce excess post-pregnancy fat. Tummy tuck surgery can also diminish effects of drastic weight loss. However, post-procedure complications including haematoma, pain and blood clots among several others may limit this segment’s growth to some extent.
By gender, the market is divided into Female and Male. It has been predicted that with advancements in fat removal cosmetic surgeries, the procedure adoption among women is likely to expand in the upcoming years.
- Demand for several body fat reduction techniques is higher among women.
- Women are becoming increasingly conscious about their appearance and opt to have various body shaping procedures.
- The prevalence of obesity is found to be higher among the females than males.
- The acceptance and awareness rate of available fat reducing and body sculpting procedures that provide aesthetically favorable results is greater among women.
Body fat reduction service providers include Hospitals, Clinics, Medical Spas and Others. Of these, the Hospital segment is predicted to boost the market expansion, owing to factors such as increasing number of patient admissions and presence of sophisticated infrastructure and equipment to support patient admission, recovery, procedural expertise and broad range of offerings. With advanced facilities, patients can undergo better post-procedure recovery in hospitals, thereby fuelling patient volume.
Region and country-wise, the market is divided in to North America (U.S., Canada), Europe (Germany, UK, France, Spain and Italy), Asia Pacific (China, Japan, India, Australia, South Korea), Latin America (Brazil, Mexico), Middle East & Africa (South Africa, Saudi Arabia). It is reported that the rising acceptance of body shaping procedures in Brazil among adults will boost the Latin American market size. Cosmetic treatments, including body contouring have witnessed huge upsurge owing to growing importance about aesthetics in Brazil.