The demand for body fat reduction markets is limited in developing countries of the world due to a lack of information about illnesses, high product costs, poor economic conditions, and a lack of acceptable insurance systems.
The global COVID-19 pandemic reduced body fat reduction procedures, but the closure of parks, fitness centres, the introduction of the work-from-home (WFH) culture, and the educational institutions resulted in an increase in weight gain issues and obesity cases, which is expected to drive body fat reduction market growth over the forecast period. Owing to the rising frequency of venous disorders and the increasing number of new product approvals to meet this need, the body fat reduction market is expected to rise at a significant rate over the projected period. The market is expected to rise as illness awareness grows, the necessity of early diagnosis grows, and investments in chronic diseases grow.
Furthermore, the market’s major players are spending on the research and development of technologically improved goods, resulting in increasing use of body fat reduction products in both developed and developing nations. Launching new low-cost products and expanding market penetration efforts in these regions, on the other hand, might provide attractive development prospects for companies in the sales of body fat reduction.
The growing public interest in body aesthetics has fueled demand for various body fat reduction treatments. Tummy tucks (abdominoplasty), liposuction, and cry lipolysis are a few of the fat-reduction treatments that are becoming increasingly popular. Liposuction and abdominoplasty were among the top 5 aesthetic surgical operations in 2018, according to the Plastic Surgery Statistics report, with over 0.4 million treatments performed in the United States alone. With the rising popularity of cosmetic surgery, a variety of locations, including medical spas, aesthetic clinics, and hospitals, are expanding their service offerings to include such cutting-edge treatments.
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Key Takeaways
- An increase in the acceptability of fat loss procedures, an increase in discretionary money, and an expansion in the glamour industry are all projected to have a beneficial impact on the fat reduction market’s growth in the next years.
- In the coming years, however, problems connected with fat reduction procedures such as seroma, infections, necrosis, and hematoma are predicted to hamper the demand for body fat reduction
- Nonetheless, a rise in marketing and advertising by companies is projected to propel the worldwide body fat reduction market in the future years.
- Due to increasing cosmetic procedures and knowledge about aesthetics, North America has the highest body fat reduction market share. The increased popularity of contouring procedures in the region is also helping to propel regional market expansion.
- Due to rising disposable income, Europe is predicted to have massive growth with a high CAGR.
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Competitive Landscape
The study report for the global body fat reduction market provides valuable information with a focus on the global market. Apollo Hospitals, Elite Body Sculpture, The Plastic Surgery Clinics, VLCC Wellness, and Beauty Center are the key players in the body fat reduction market.
The competitive landscape section also contains a global study of the above-mentioned competitors’ major development strategies, market share, and market position.
The industrial landscape will be improved by continuous technological advancements in equipment as well as a variety of surgical and non-surgical fat loss techniques.
Moreover, there are several established local market competitors that are constantly developing revolutionary devices with novel approaches such as radiofrequency laser lipolysis, light therapy, and other technologies.
- VLCC Wellness announced a collaboration with Minor Hotels in October 2019 to develop its therapeutic wellness and beauty centres. The company’s business potential has increased as a result of this strategy.
- Lindora acquired Erchonia’s Zerona Z6 body contouring equipment in October 2019, which enables full-body fat removal The company’s body fat reduction service offering on the west coast has been expanded as a result of this.
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