Global Body Fat Reduction Market 2023-2030

Global Body Fat Reduction Market 2023-2030

Global Body Fat Reduction Market Size, Share & Trends Analysis Report by Procedure (Surgical and Non-Surgical), and by Service Provider (Hospitals, Clinics, Plastic Surgery Centers and Others), Forecast Period (2023-2030)

The global body fat reduction market is anticipated to grow at a CAGR of 9.2% during the forecast period (2023-2030) owing to the rising obesity problem in developed as well as developing countries, majorly owing to unhealthy stressful lifestyle among the population. Thus, individuals aim to reducing body fat through both surgical and non-surgical approaches. Overweight is the main reason for the chain of other significant diseases. Obesity is caused by a combination of genetic, physiological, and environmental variables, as well as diet, and physical activity. Thus, rise in cases of obesity due to poor eating habits, lifestyle changes, adoption of sedentary lifestyle, lack of exercise, favorable government policies, and programs for obesity that are promoting the adoption of body fat reductions procedures are anticipated to drive growth of the body fat reduction market. Additionally, rise in focus on aesthetics for beautification in males and specifically females for improving appearances are one of the major factors that drives the market growth.

Segmental Outlook

The global body fat reduction market is segmented by the procedure, and service provider. Based on the procedure, the market is sub-segmented into surgical and non-surgical. Further, based on service provider, the market is sub-segmented into hospitals, clinics, plastic surgery centres and others. Among the service provider, the hospital sub-segment is anticipated to hold a considerable share of the market due to presence of sophisticated infrastructure in hospitals, coupled with high demand for surgical procedures.

Non-Surgical Sub-Segment is Anticipated to Hold a Considerable Share of the Global Body Fat Reduction Market

Among the procedure, the non-surgical sub-segment is expected to hold a considerable share of the global body fat reduction market owing to enhancement of aesthetics, and various body shape contouring procedures due to self-consciousness in individuals, especially females rising prevalence of obesity, and growing awareness of health problems. According to the World Health Organization (WHO), most of the global population live in countries where overweight and obesity kills more people than underweight individuals and 39 million children under the age of 5 were overweight or obese in 2020 globally. The demand for various body fat reduction techniques has increased due to the rising prevalence of obesity among women globally. For instance, according to the World Obesity Atlas 2022, 1 in every 5 women will be obese by 2030 one billion people will be living with obesity worldwide, including 1 in 5 women and 1 in 7 men. Non-Surgical procedures have increased in recent times. Surgical procedures, such as liposuction and abdominoplasty can be prohibitively expensive, deterring many potential patients from seeking these treatments. Moreover, the economic uncertainties caused by events, including the COVID-19 pandemic have exacerbated the treatment costs. Non-Surgical procedure such as Ultra sound have increased due to its easy application and less risk. Ultrasonic liposuction liquefies fat cells prior to removal from the body. Targeting fat cells is accomplished by mixing an ultrasound with ultrasonic waves. The segment's expansion is being fueled by the introduction of numerous ultrasonic fat removal technologies by major market participants. For instance, in April 2021, Alma launched Alma PrimeX for non-invasive fat removal procedures. The patented ultrasound and radiofrequency technology known as PrimeX by Alma targets adipose tissue specifically to reduce fat thickness.

Regional Outlook

The global body fat reduction market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to increase in obesity cases, the presence of key market players, technological improvements, and rise in government initiatives in the region.

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Body Fat Reduction Market

Among all regions, the Asia-Pacific regions is anticipated to grow at a considerable CAGR over the forecast period due to the rising obesity cases and increasing construction of hospitals and specialized clinics to offer effective fat reduction solutions. According to Global Obesity Observatory, in Asia two out of every five adults are either overweight or obese. The most obese countries in Asia are Kuwait, Jordan and Saudi Arabia. These countries have a high childhood obesity rate, especially Kuwait and Saudi Arabia. Between 2010 and 2030, it is expected that the prevalence of obesity would double across South and Southeast Asia. By the same year, 45 million South and Southeast Asian children over the age of five may be affected by childhood obesity, which is rising sharply in the region along with adult rates. When children with stunted growth due to micronutrient or macronutrient deficiency are later exposed to high energy‐density food and develop obesity. Additionally, Asia-Pacific will witness notable growth, owing to increase in overall population, and increased investments in the healthcare sector in the region.

Market Players Outlook

The major companies serving the body fat reduction market include Adobe Systems Incorporated, Google Inc. (DoubleClick), AOL Inc. (Verizon Communications Inc.), Yahoo Inc., Beeswax, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2022, AirSculpt Technologies, Inc., a provider of body contouring procedures launched AirSculpt Smooth, its state-of-the-art cellulite removal technology. This single, minimally invasive, FDA-cleared procedure does not involve the use of needles, scalpels, or stitches, helping clients to resume their regular activities in 24 to 48 hours.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global body fat reduction market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.