Body Fat Reduction Market 2022 | Rising Prevalence of Obesity and sedentary lifestyle

According to Precision Business Insights (PBI), the latest report the global body fat reduction market is expected to be worth USD 8,643.1 million in 2021 and projected to grow at a 9.3% CAGR over 2022 to 2028. One of the key reasons driving market growth is the increased emphasis on aesthetics for beautification in males and particularly ladies for better looks. Increase in cosmetic operations for body fat reduction due to increased desire for pleasing, artistic appearances in developed and emerging countries drives market expansion. The procedure of enhancing the appearance of the face and body is known as aesthetic plastic surgery (also known as cosmetic surgery). Furthermore, an increase in demand for body shaping or body contouring surgical and non-surgical procedures propels market expansion.

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The Cryolipolysis technology Segment is Dominating the Body Fat Reduction Market:
The Cryolipolysis technology segment is expected to account for a larger revenue share and the market is expected to grow at double digit growth rate over the forecast years owing to a growth in the obese population, an increase in customer demand for non-invasive choices, and an increase in public awareness According to the CDC, approximately 35% of the adult population in the United States is obese, with an additional 40% being overweight. During the projected period, demand for cryolipolysis technology segment is likely to be driven by the ongoing expansion of the obese population.

North America Leads Body Fat Reduction Market:
North America is expected to hold significant market share in the global body fat reduction market and is projected to grow at a prominent growth rate over the forecast years. This is owing to increase in the incidence of obesity cases, the presence of key players, an increase in healthcare expenditure, technological improvements, and an increase in government activities in the region. However, Asia-Pacific is expected to rise significantly due to an increase in total population, a spike in facilities offering body fat reduction therapies, and greater investments in the region's healthcare industry.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
The global Body Fat Reduction market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region. For instance, In October 2019, VLCC Wellness has collaborated with Minor Hotels to expand their therapeutic wellness & beauty centers. This strategy has expanded the company's business potential.

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The body fat reduction market is segmented based on procedure, gender, end user and geography.
Based on the procedure, the market is segmented into the following:
• Surgical
• Liposuction
• Abdominoplasty
• Non-Surgical
• Cryolipolysis
• Ultrasound
• Others

Based on the gender, the market is segmented into the following:
• Male
• Female

Based on the end user, the market is segmented into the following:
• Hospitals & Clinics
• Medical spas
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Key player's profiles in the body fat reduction market report are AbbVie Inc. (Allergan Inc.), Apollo Hospitals Enterprise Limited (Apollo Cosmetic Clinics), Bausch Health Companies Inc. (Solta Medical International Inc.), Candela Medical, Cutera Inc., Cynosure, Llc., Lumenis, Ltd., Sciton, Inc., Sisram Medical Ltd (Alma Lasers Ltd.), VLCC Health Care Ltd.

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