Fat to Fit: Exploring the Lucrative Body Fat Reduction Market's Journey to US$ 25.6 Billion by 2033 with a Resilient 9.6% CAGR | FMI Inc.

The Body Fat Reduction Market is anticipated to expand its roots at a steady CAGR of 9.6% between 2023 and 2033. The market is expected to have a market share of US$ 25.6 billion by 2033 while it is likely to be valued at US$ 10.65 billion in 2023.

-The higher penetration of lazy lifestyles and people of all age groups getting obese is pushing them to look for different alternatives to exercise for faster fat loss. Thus, the demand for body fat reduction therapies is increasing.
-New additions of artificial intelligence, easy fat detection, and robotics have advanced the industry. However, the rising awareness around organic fat reduction is also pushing vendors to widen their product and service portfolio.
-The rising obese population in developed and developing countries is leading them to chronic diseases like health problems, diabetes, and uneven blood pressure. Therefore, people are going for invasive and non-invasive surgeries.
-Highly advanced concepts like the approval of diabetes drugs for fat loss along with fat-dissolving injections are shaping the growth trends of the market. Alongside this, social media trends, better marketing of the vendors, and the display of aesthetically pleasing bodies are pushing end-users to adopt these services.
-The private healthcare sector extending its research and development facilities to deliver better services and products for fat reduction is also expected to garner market growth.

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How does the Body Fat Reduction Market Future Outlook (2023-2033) compare to the Historical Pattern (2018-2022)?

>Short-term Growth (2023 to 2026): Due to laziness and a high-carbohydrate and fat diet, a large portion of the population has become obese. Outside of their homes, the number of people consuming high-calorie junk food is rising. Thus, there is a growing market for body fat reduction techniques as well as instruments for reducing body fat. The market is anticipated to hold US$ 10.65 billion in 2023 and US$ 14.02 billion by 2026 thanks to these diverse applications.

>Growth in the mid-term (2026 to 2029): The expansion of healthcare technologies and the popularity of beautification techniques. The use of cell therapy and minimally invasive procedures is rising in popularity. As a result, the market value increases from $14.02 billion in 2026 to $8.46 billion in 2029.

>Long-term Growth (2029-2033): The market is being driven by the incorporation of robots, machine learning, and artificial intelligence for invasive surgeries. Furthermore, the many methods describe the integrated diet system and "Do's and Don'ts." During this long-term growth phase, the emphasis on processed goods is also driving market expansion. So, from 2023 and 2033, the market is expected to grow at a little lower CAGR of 9.6%.

Key Points

-The United States market leads the body fat reduction market in terms of market share in North America. The United States region held a market share of 25.7% by 2022. The growth in this region is attributed to the increased obese population, idle lifestyle, and advanced aesthetic healthcare units. The North American market held a market share of 38% in 2022, putting it as a leading region in terms of market share.
-The United Kingdom's body fat reduction market is another significant market in the European region. The market thrives at a CAGR of 6.5% between 2023 and 2033. The growth is attributed to social media trends, enhanced marketing campaigns, and the growing obese population.
-The Chinese body fat reduction market thrives at a CAGR of 8.9% during the forecast period. The growth is attributed to a higher obese population and affordable healthcare services.
-The surgical procedure leads the procedure type segment as it held a market share of 85.70% in 2022. The growth is attributed to it being an effective, fast, and on-time process.
-Based on the end-user type, the hospital segment leads as it held a market share of 32% in 2022.

Competitive Landscape

The key vendors work on adding the latest healthcare technology while making the surgeries and therapies minimally invasive and natural. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.

Recent Market Developments

-Elite Body Sculpture has introduced its body fat reduction platform with next-generation body contouring that also offers virtual consultation.
-VIDA Wellness & Beauty has launched its body fat reduction service that includes different types of services including face, breast, body, and men.

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Segmentation

By Procedure:

>Surgical
--Liposuction
--Abdominoplasty
>Non-surgical
--Cryolipolysis
--Ultrasound
--Laser Lipolysis
--Others

By Gender:

-Female
-Male

By Service Provider:

-Hospitals
-Clinics
-Medical Spas
-Others

Key Regions Covered:

>North America
-UNITED STATES
-Canada
>Latin America
-Brazil
-Mexico
-Rest of Latin America
>Europe
-Germany
-United Kingdom
-France
-Spain
-Russia
-Rest of Europe
>Japan
>APEJ
-China
-India
-Malaysia
-Singapore
-Australia
-Rest of Asia Pacific Excluding Japan (APEJ)
>MEA
-GCC Countries
-Israel
-South Africa
-Rest of Middle East Asia (MEA)

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This release was published on openPR.