Selbyville, Delaware, Jan. 13, 2021 (GLOBE NEWSWIRE) --
According to latest report “Body Fat Reduction Market by Procedure (Surgical, Non-surgical), Gender (Female, Male), Service Provider (Hospitals, Clinics, Medical Spas), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of body fat reduction will cross $17.5 billion by 2026. Growing preferences for advanced aesthetic body sculpting procedures will spur the market growth.
The development of non-invasive procedure technologies for body fat reduction will offer the exponential market expansion during the forecast timeframe. Research and development of low-level laser therapy for body sculpting will increase the market value in the coming years. The advancements have led to time advantage, low cost and minimal risk in non-invasive procedures. Growing preference for cryolipolysis, light-based treatment and ultrasound fat reduction treatment are expected to drive the market demand. Therefore, with rise in number of aesthetic fat reduction procedures and use of innovative technologies during treatment, the market will foresee surge in forthcoming years.
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With increasing spending on surgical as well as non-surgical procedures by population in developed nations will significantly boost the body fat reduction market revenue in the coming year. According to the American Society of Plastic Surgeons, in 2018, Americans’ spending on cosmetic plastic surgeries and minimally invasive procedures accounted for over USD 15 billion. Moreover, rise in procedural volume further influences the treatment spending. Therefore, increasing expenditure on aesthetic treatments contributing to the industry value.
Surgical body fat reduction procedure segment dominated the market share of over 85% in 2019 led by growing procedural volume coupled with high customer satisfaction. According to the American Society for Aesthetic Plastic Surgery (ASPS), in 2017, more than 250,000 liposuction procedures were performed in the U.S. Along with liposuction, considerable increase in demand for tummy tuck surgeries was witnessed. Thus, owing to the rising surgical procedures in healthcare settings, the segment is projected to grow momentously during the forecast timeline.
Female body fat reduction market valued at USD 8 billion revenue in 2019 impelled by growing procedural demand due to increasing prevalence of overweight and obesity. According to the World Health Organization, in 2016, about 40% female adults were overweight, with approximately 15% obese females. This has driven the preference for fat reduction among female population. Hence, with the focus on fat elimination among females and higher awareness rate, the segment will register significant growth in the coming years.
Clinics segment held for 25% of the body fat reduction market share in 2019. Infrastructure development and integration of developed technologies in cosmetic clinics will impact patient preference for cosmetic and aesthetic settings in the forecast period. Expansion of clinical facilities to cater to the increasing procedure demand in emerging nations will foster the segment performance. Therefore, adoption of advanced devices with availability of skilled professionals will propel patient preference for clinic settings over the forecast timeframe.
U.S. body fat reduction market accounted for 80% revenue share of the North America region in 2019. According to the ASPS, in 2017, over 150,000 non-invasive fat reduction procedures were performed along with more than 130,000 tummy tuck surgical procedures in the country. Growing awareness about cosmetic treatment and high expenditure by the Americans will further enhance the procedure volume in future. Furthermore, presence of numerous cosmetic facilities and manufacturers of advanced devices for procedures in the country, the market will showcase momentous growth in the coming years.
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Major players operating in the body fat reduction market include Apollo Cosmetic Clinics, University of Texas Southwestern Medical Centre, Transform Hospital Group and VLCC Clinic among others. Established companies are broadening their market presence by adopting several strategies such as augmentation of their service portfolio and collaborations.
Table of Contents (ToC) of the report:
Chapter 3 Body Fat Reduction Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 – 2026
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.4.1 By procedure
3.4.2 By gender
3.4.3 By service provider
3.5 COVID-19 impact analysis
3.5.1 Impact analysis of COVID-19 on global market size
3.5.2 Impact analysis of COVID-19 on industry value chain
3.5.3 Impact analysis of COVID-19 on industry competition
3.6 Regulatory landscape
3.7 Technology landscape
3.8 Porter’s analysis
3.9 Competitive landscape, 2019
3.10 PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.