Body Fat Reduction Market to Witness Robust Growth by 2028

March 14, 2023/Industry News Global/ -- This new report from Stratview Research analyses the Body Fat Reduction Market over the forecast period from 2022 to 2028. The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.

Body Fat Reduction Market Overview:

The body fat reduction market was estimated at US$ 8.8 million in 2021 and is expected to grow at a CAGR of 10.1% during 2022-2028 to reach US$ 17.31 million in 2028.

Drivers

The following are the major players in the body fat reduction market:

• Amirlak Plastic Surgery
• JK plastic surgery center
• Apollo cosmetic clinics
• Elite Body Sculpture
• The Plastic Surgery Clinics
• Transform Cosmetic Surgery
• VIDA Wellness & Beauty
• Elite Body Sculpture
• Waldman Schantz Plastic Surgery Centerm
• VLCC Wellness & Beauty Center

Segment Analysis

The market is divided based on procedure type, and end user. On the basis of procedure type, the market is further segmented into surgical and non-surgical. The surgical segment is further divided into liposuction, abdominoplasty. The non surgical segment is divided into cryolipolysis, ultrasound, laser lipolysis.

On the basis of end user, the market is segmented into hospitals, aesthetic clinics, and others. In 2021, the hospital segment led the body fat reduction market. According to the American Society of Plastic Surgeons, around 18 million people in the United States underwent minimally invasive aesthetic procedures in 2018, with the number gradually increasing since then. Because medical facilities in many established and developing countries are robust, they are well equipped with cutting-edge technology and high-end technologies. A considerable number of trained aesthetic practitioners are linked with hospitals since they provide all of the necessary facilities to carry out such treatments. Furthermore, consumer choice comes into play, as people feel more secure having treatments from a well-known hospital because they have insurance coverage for such treatments. Several specialty hospitals have collaborations with reputable organisations.

Aesthetic clinics, on the other hand, are expected to expand rapidly during the forecast period. Aesthetic clinics are becoming more popular as a result of their higher service quality, personalised focus to clients, as well as lower treatment costs compared to other venues. Aesthetic clinics also provide comprehensive treatment for skin, hair, body, and facial disorders, as well as basic spa and beauty treatments like waxing and manicures, dentistry, and removal of skin tags, warts, freckles, birthmarks, among others. This is the key indirect source of market growth.

The body fat reduction market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to be the largest body fat reduction market region in 2021. North America dominated the body fat reduction market and accounted for the largest revenue share in 2021, owing to technological developments and an increase in the number of people choosing for procedures in the industry. The region has a high level of aesthetic awareness, and the number of people opting for cosmetic procedures has increased as well. According to estimates from the International Society of Aesthetic Plastic Surgery, the region has the largest pool of cosmetic professionals in the country, and it has one of the highest treatment volumes for body fat reduction treatments. During the forecast period, body fat reduction is expected to grow at the quickest rate in Asia Pacific. This is mainly attributable to the region's increasing urbanisation. Because this location has such a vast population, many individuals are interested in cosmetic enhancement. Furthermore, the region has a strong social media presence, which, along with low treatment prices and high-quality procedure service, is driving market growth. In 2019, approximately 11,184 surgical body fat reduction procedures were performed in India.

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