Body Fat Reduction Market Expected to Reach $13.92 Billion by 2030

According to a new report published by Allied Market Research, titled, "Body fat reduction market by procedure, gender, end user and region: global opportunity analysis and industry forecast, 2021–2030," the global body fat reduction market was valued at $7,587.77 million in 2020, and is projected to reach $13,910.63 million by 2030, registering a CAGR of 7.5% from 2021 to 2030.

Body fat reduction is a procedure commonly characterized by decreasing or eliminating excess, unwanted stubborn fats from different parts of the body. Deposition of fats is the main reason of weight gain, which further leads to obesity. Obesity among the population adults, and children is rising at an alarming rate globally. It poses a number of health risks, including cardiac disease, high blood pressure, hypertension, cholesterol, diabetes, and immobility. As a result, there has been an increase in use of body fat reduction treatments and body reshaping using a variety of non-invasive and surgical techniques.

Rise in consumption of carbohydrate-based foods, poor eating habits among younger generation, unhealthy lifestyle, and stress are the major factors that lead to obesity. In addition, aesthetic enhancement is on the rise, owing to self-consciousness among the population, especially in developed and developing countries. The industry is benefiting from increased awareness that is required to reshape and tone bodies, as well as to eliminate excess body fat content.

Obesity is on the rise as a result of bad eating habits, lifestyle changes, and lack of exercise. Rise in awareness among adolescents and women about their body shape and fitness is the  primary driver for the body fat reduction market growth. Availability of various techniques such as liposuction and abdominoplasty, cryolipolysis, laser lipolysis, ultrasound, red light therapy, various injectables and others is on the rise.

At the same time, various technological advancements like cool sculpting technique for body contouring further drives growth of the market significantly.

According to the annual audit report in 2019 of The British Association of Aesthetic Plastic Surgeons (BAAPS); organization that is solely dedicated to advancing safety, innovation and excellence in cosmetic surgery, over 28,000 procedures took place in 2018 and the biggest increase was from women for liposuction, which increased by 12%. Approximately 2,286 liposuctions in females and 232 in males were performed. Similarly, abdominoplasty treatment in women increased by 5% as compared to the previous year.

Adoption of sedentary lifestyle, less physical activity, and growth in work from home (WFH) culture is on rise. Furthermore, post pregnancy body weight loss and transformation of body shape back to its original also propels growth of the body fat reduction market. Launch of various minimally invasive treatments that are less painful and cause less blood loss are in demand. Moreover, complications associated with the use of procedures such as skin discoloration, lumps, pulmonary edema, and high cost of these treatments is expected to restrain growth of the market. However, rise in disposable income, unmet demands in the emerging market, and rise in number of facilities that provide these services is expected to offer potential growth opportunities for the market during the forecast period. Furthermore, the COVID-19 pandemic led to decrease in body fat reduction procedures globally, but at the same time closure of parks, fitness centers, educational institutions, and inculcation of work from home (WFH) culture led to increase in weight gain issues and obesity cases, which is anticipated to boost the market growth during the forecast period.

The body fat reduction market is segmented on the basis of procedure type, gender, end user, and region. On the basis of procedure type, the market is categorized into surgical and non-surgical. The surgical segment is further categorized into liposuction and abdominoplasty. Moreover, the non-surgical segment is subdivided into cryolipolysis, ultrasound, and others. On the basis of gender, the market is segregated into male and female. By end user, it is fragmented into hospitals & clinics, medical spas, and others.

Region wise, the body fat reduction market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

On the basis of procedure, the surgical segment was the major shareholder in 2020, as various minimally invasive treatments are painless for body fat reduction. Depending on gender, the female segment acquired the largest share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to rise in aesthetic enhancement worldwide.

North America accounted for the largest share of the global body fat reduction market in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to presence of large population base, increase in body fat reduction treatment service providers, and rise in healthcare expenditure.

Key Findings Of The Study

• By procedure type, the surgical segment was the highest contributor to the market in 2020.
• On the basis of gender, the female segment dominated the market in 2020
• Depending on end user, the hospitals and clinics exhibited the highest growth in 2020, and is expected to continue this trend during the forecast period.
• Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.