Portland, OR, November 09, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the body fat reduction market generated $ 7.58 billion in 2020 and is expected to reach $ 13.91 billion by 2030, with a CAGR of 7.5% from 2021 to 2030. The report offers a detailed analysis of changing market trends, major segments, key investment pockets, value chain, regional landscape and competitive scenario.
Rising prevalence of obesity, emphasis on cosmetic and cosmetic surgeries, advancements in technology, and increasing adoption of minimally invasive procedures are driving the global body fat reduction market. However, the high cost of procedures associated with post-treatment complications is hindering the growth of the market. On the other hand, new developments and an increase in the number of establishments offering fat reduction services are expected to create opportunities in the coming years.
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Impact of Covid-19 on reducing body fat-
- The Covid-19 pandemic has led to a drop in body fat reduction procedures across the world, with hospitals moving staff to support the increasing number of patients infected with Covid. In addition, elective surgeries have been postponed to avoid any possibility of cross-contamination.
- Due to the lockdown measures implemented by the governments of many countries, there has been the closure of parks, educational establishments and fitness centers as well as the Work From Home (WFH) culture. . This has increased the problems of weight gain and cases of obesity.
- After the lockdown, medical spas and gyms would open and body fat reduction activities would increase. This, in turn, will lead to the growth of the market.
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The report offers detailed segmentation of the global body fat reduction market on the basis of procedure type, gender, end-user, and region.
Based on the type of procedure, the surgical segment accounted for the largest share in 2020, contributing over 90% of the total share, and is expected to maintain its leading position throughout the forecast period. However, the non-surgical segment is expected to register the fastest CAGR of 10.2% from 2021 to 2030.
On the basis of end user, the hospital and clinic segment contributed the highest share in 2020, holding more than half of the total share of the global body fat reduction market, and is expected to retain its leadership status during the forecast period. However, the medical spa segment is expected to experience the highest CAGR of 8.6% from 2021 to 2030.
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Based on region, North America accounted for the highest share in 2020, contributing almost a third of the total share, and is expected to retain its dominant share by 2030. However, Asia- Pacific is expected to account for the largest CAGR of 8.5% during the forecast period.
The major global body fat reduction market players analyzed in the research include AbbVie Inc. (Allergan Inc.), Bausch Health Companies Inc. (Solta Medical International Inc.), Apollo Hospitals Enterprise Limited (Apollo Cosmetic Clinics), Cutera Inc., Candela Medical, Lumenis, Ltd., Cynosure, Llc., Sisram Medical Ltd (Alma Lasers Ltd.), Sciton, Inc. and VLCC Health Care Ltd.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR offers its services in 11 vertical sectors, including Life sciences, consumer goods, materials and chemicals, construction and manufacturing, food and beverage, energy and electricity, semiconductors and electronics, automotive and transportation, ICT and media, aerospace and defense, and BFSI.
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