by The body fat reduction market consists of treatment devices and products used to reduce excess fat deposits from certain body parts like the abdomen, thighs, and back. Body fat reduction procedures utilize technologies like liposuction, cryolipolysis, ultrasound, radiofrequency, laser and others to break down fat cells through external applicators without requiring surgery. These non-invasive or minimally-invasive treatments produce minimal discomfort and enable quicker recovery than traditional liposuction. They help sculpt the body by slimming down stubborn fat bulges and firming loose or sagging skin. The rising obesity levels and increasing health and fitness awareness have boosted the demand for body contouring and body shaping procedures in recent years.
The Global Body Fat Reduction Market is estimated to be valued at US$ 7.85 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period from 2024 to 2031.
Key Takeaways
Key players: Key players operating in the body fat reduction market are Allergan Plc, Alma
Lasers, Apyx Medical Corporation, Asclepion Laser Technologies GmbH, Bausch Health Companies Inc., BTL Industries, Cutera, Inc., Cynosure, EndyMed Medical Ltd, Fotona, InMode Ltd., Lumenis, Sciton, Inc., Sientra, Inc., and Syneron Medical Ltd.
Growing demand:
Changing lifestyles and increasing prevalence of obesity are fueling Body Fat Reduction Market demand for body contouring treatments. The growing emphasis on physical appearances and the desire to achieve fit and attractive physiques is also driving more people to opt for nonsurgical body fat reduction procedures.
Global expansion: Leading market players are expanding their geographical footprint through new product launches, collaborations and acquisitions. They are targeting emerging markets in Asia Pacific, Latin America, Middle East and Africa that offer high growth opportunities. Increasing medical tourism and rising disposable income in developing countries will further aid the global expansion of body fat reduction market in the coming years.
Market Key Trends
The use of minimally-invasive technologies like laser and radiofrequency for body fat reduction has emerged as a key trend. These technologies enable localized fat removal and skin tightening with minimal discomfort and faster recovery. They are gaining widespread acceptance over traditional liposuction due to advantages like lesser bruising, swelling and pain. Ongoing R&D has led to introduction of novel devices combining dual technologies to deliver improved body contouring results. Combination therapies utilizing ultrasound, laser and radiofrequency are growing in popularity.
Porter’s Analysis
Threat of new entrants: There is moderate threat of new entrants in this market as specialized equipment and branding are required to gain customer trust. However, opportunities exist for new technologies.
Bargaining power of buyers: Buyers have moderate bargaining power in this market due to availability of substitutes however customers are increasingly willing to pay for new and premium treatments.
Bargaining power of suppliers:
In the Body Fat Reduction Market challenges and opportunities arise as suppliers have low to moderate bargaining power due to the availability of alternative equipment and raw material manufacturers.
Threat of new substitutes: Threat of substitutes exists from non-invasive aesthetic treatments, gyms and personalized diet/workout plans.
Competitive rivalry: The market has many established brands and new companies/technologies are increasing competition.
Geographical regions
North America currently dominates the global body fat reduction market with the highest market share in terms of value due to growing popularity of non-invasive procedures and availability of advanced technologies. Other major regions include Europe, Asia Pacific and Latin America.
Fastest growing region
Asia Pacific region is poised to witness the highest growth during the forecast period owing to growing middle class population, rising medical tourism industry, increasing awareness about aesthetic treatments and launch of new affordable products and technologies in India and China.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya
Ravina Pandya,Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. LinkedIn
