Global body fat reduction market is expected to cross US $16.5 billion by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
Growing inclination of population towards weight shedding and aesthetic enhancement in countries like Brazil and U.S. is the main factor driving the body fat reduction market. Increasing demand to look fit and easy accessibility of cosmetic treatments will amplify the demand for body fat reduction procedures in the upcoming years, cites the study.
Brazil accounted for 10% of global cosmetic procedures in 2017, cites a study by ISAPS. It also published a survey claiming the increase in the number of plastic surgeons by 400 within a year from 43,100 in 2016. This fact highlights the availability of skilled workforce and medical facilities for performing body fat reduction procedures, thereby enhancing market growth prospects in the approaching years.
Though, the growing disposable income will favor the procedure market, but post-operative complications & care, along with high cost of cosmetic procedure will hamper the growth of body fat reduction market.
Based on the type of procedure, surgical segment dominated the body fat reduction market with revenue share of more than 80% in 2018, owing to ability of different surgical procedures to provide target area fat elimination and contouring of body. Moreover, availability of varied procedures such as abdominoplasty, tumescent liposuction, laser liposuction, and ultrasound liposuction will boost the segmental growth owing to increasing cases of obesity around the globe.
Body fact reduction market from male segment is predicted to grow with a CAGR of 11% over the forecast timeframe, pertaining to surging trend among men to attain desirable body. Procedures such as laser liposuction and cryolipolysis are enabling men aged over 40 years to reduce unwanted abdominal fat to look fit.
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Considering the service providers, clinic-based body fat reduction market is expected to grow at significant pace with 11.2% CAGR over the analysis period. Clinical settings offer cost-effective specialized services. Rising number of clinics and new service offerings will foster segmental growth.
Based on regional landscape, Europe body fat reduction market was dominated by Germany with a valuation of US $280 million in 2018. The regional growth is attributed to the high pervasiveness of obesity in Germany, wherein 22% of country’s adult population is obese. Adoption of new procedures along with the increasing demand for body fat reduction will augment the European market, claims the report.
On the other hand, body fat reduction market in South Korea is projected to grow with 12% CAGR over the forecast period. The factors contributing towards the regional growth are inclination towards cosmetic surgery, plastic surgery tourism, and lower procedural cost in the region.
Main contenders operating the body fat reduction market profiled in the report include VLCC, Apollo Cosmetic Clinics, Transform Cosmetic Surgery, and The Plastic Surgery Clinic.