Non-invasive Fat Reduction Industry Overview
The global non-invasive fat reduction market size was valued at USD 1.1 billion in 2021 and is anticipated to register a compound annual growth rate (CAGR) of 16.1% from 2022 to 2030. Non-invasive fat reduction is a fat reduction procedure that is done to decrease or eliminate the stubborn fat pockets in specific areas of the body by using methods like cryolipolysis, radiofrequency, and laser lipolysis. Non-invasive devices that are used in these procedures to permanently abolish fat cells are FDA approved as their efficiency and safety have been tested and the results have been proven to show significant results.
The advent of the COVID-19 pandemic has hugely affected the overall market. But many aesthetic professionals believe that the pandemic might most likely propel the overall aesthetic industry. Many dermatology clinics have witnessed a boost in the number of future appointments and consultations for different skin treatments and this is expected to boost the market growth. These procedures are to be carried out by professional practitioners who are technically sound to execute these treatments. Some of the famous brands for non-invasive fat reduction procedures are CoolSculpting, Kybella, Vanquish, and Sculpsure.
Gather more insights about the market drivers, restraints, and growth of the Global Non-invasive Fat Reduction Market
The Cryolipolysis technology segment is expected to witness a high CAGR of 16.5% over the forecast period. According to WHO, a sedentary lifestyle is a major underlying cause of obesity, disease, and disability. Approximately 2 million deaths every year are attributable to obesity. Physical inactivity, tedious & long working hours, behavioral risk factors like alcohol consumption, smoking, as well as stress are increasing the risk of an unhealthy lifestyle which has, in turn, led to conditions like diabetes and obesity. With the increase in urbanization, people have limited time to focus on their physical health and, therefore, look for alternate options to reduce stubborn fat.
Factors such as increasing acceptance and rising demand for body contouring treatments, rise in health care expenditure, and surging prevalence of the obese population are the key factors boosting the growth of the market. According to the U.S. Bureau of Economic Analysis, in 2019, Americans had 16.65 trillion dollars in Disposable Personal Income and per capita personal disposable income was $43,828. As there is an increase in the amount of money people possess for their expenses, they often tend to opt for an aesthetic procedure.
According to the International Society of Aesthetic Plastic Surgery, around 120,707 non-surgical fat reduction treatments were carried out on the male population, globally in 2020. The adoption of such procedures witnessed an increase in the male population and is expected to witness high demand in the future as well. This is because there are technological advancements that are taking place in this segment backed by quick dramatic results and benefits which leads to an increase in acceptance by people. The ease of conducting such procedures and their affordability are captivating millennials, even more, to opt for such treatments.
Despite the COVID-19 pandemic negatively impacting several industries, the market has witnessed an increase in procedures. In 2021, the market has witnessed high demand due to the backlog of 2020 and increased interest from people related to dermatological procedures. The non-invasive fat reduction market has witnessed high volatility during the past few months and is expected to return to its normal growth trend by 2023.
As reported by the International Society of Aesthetic Plastic Surgery, in 2020, the non-invasive fat reduction procedure witnessed a 21.2% growth indicating that adoption of the procedure has been on the rise globally.
Browse through Grand View Research's Medical Devices Industry Related Reports
Facial Fat Transfer Market - The global facial fat transfer market size was valued at USD 1.9 billion in 2021 and is expected to expand at a CAGR of 10.8% from 2022 to 2030.
Intravascular Ultrasound Market - The global intravascular ultrasound market size was valued at USD 771.9 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030.
Non-invasive Fat Reduction Industry Segmentation
Grand View Research has segmented the global non-invasive fat reduction market based on technology, end-use, and region:
Non-invasive Fat Reduction Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Cryolipolysis
- Ultrasound
- Low-Level Lasers
- Others
Non-invasive Fat Reduction End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals
- Stand Alone Practices
- Multispecialty Clinics
- Others
Non-invasive Fat Reduction Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
September 2020: Cutera announced the launch of truSculpt flex, which is the company’s body sculpting platform, in Canada.
Key Companies profiled:
Some prominent players in the global Non-invasive Fat Reduction Industry include
- Cynosure
- Fosun Pharmaceuticals Co. Ltd
- Cutera Inc
- Zeltiq Aesthetics
- Candela Corporation
- BTL Industries
- Venus Concept
- Lynton Lasers Ltd.
Order a free sample PDF of the Non-invasive Fat Reduction Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment