According to a report, “Non-invasive Fat Reduction Market Size, Share & Trends Analysis Report By Technology Type (Cryolipolysis, Ultrasound, Low Level Lasers), By End Use, By Region, And Segment Forecasts, 2020 - 2027”, published by Grand View Research, Inc., The global non-invasive fat reduction market size is expected to reach USD 1.6 billion by 2027, expanding at a CAGR of 16.4%, according to a new report by Grand View Research, Inc. Treatments like Cryolipolysis, low level lasers, and ultrasound are the most commonly used methods for noninvasive fat reduction procedures. Rising contribution of market players is playing a prominent role in promoting such procedures. Other factors like rising awareness, increasing prevalence of diabetes in developed and developing countries, rise in disposable income, change in lifestyle due to urbanization and rising demand for body contouring procedures are expected to propel market growth.
Non-invasive procedures are rapidly replacing invasive surgeries and people are opting more for aesthetic procedures like body contouring as the risks associated with these treatments are negligible and are gaining a lot of spotlight through social platforms. Behavioral factors like physical inactivity, alcohol consumption, sedentary lifestyle, and rigorous working hours has contributed to the prevalence of conditions like obesity and diabetes. CoolScultping and Kybella were the most preferred workstations for removal of fat in 2018, and more than three lack noninvasive procedures were carried out using these devices in U.S.
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Rise in the per capita disposable income also plays a pivotal role in the growth of this market. As stated by the U.S Bureau of Economic Analysis, the disposable income reached 16661.65 USD billion as of December of 2019. Combination of various factors like advancement in technology, efficacy, safety of such procedures, increasing obese population, and rigorous promotions will certainly boost the market in the following years..
Non-Invasive Fat Reduction Market Report Highlights
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Cryolipolysis emerged as the largest segment in 2019 owing to increasing the safety, efficacy, and negligible side effects during and after the treatment
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On the Basis of end use, Hospitals segment dominated the market in 2019, as hospitals are well equipped with high-end fat reduction devices with latest innovative technology and accreditation is the crucial factors that further influences patient preference of undergoing aesthetic procedure
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North America dominated the global market in 2019. With the increasing demand for new technologies, along with advanced healthcare infrastructure, North America is expected to continue to dominate the market through the forecast period
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Key market players includeFosun Pharmaceuticals Co. Ltd; Cutera Inc.; Cynosure LLC; Zeltiq Aesthetics; Syneron Candela; BTL Industries.; Lynton Lasers Ltd; and Venus concept,
Regional Insights
North America dominated the market and accounted for revenue share of 48.8% in 2019 and this trend is expected to continue through the forecast period. According to International Society of Aesthetic Plastic Surgery, U.S. is the country with most nonsurgical procedures and 2,869,485 treatments were carried out in 2018. This can be attributed to rising obese population, increasing R&D in the region, highest per capita disposable income, rising adoption of new technology, and constant awareness campaigns. Increasing need for perfect appearance and confidence through physical characteristics in the major fields of work is driving the market for non-invasive fat reduction in the region. Development of convenient procedures and easy access to healthcare facilities is proving to fuel the market for non-invasive fat reduction in the country.
In Latin America, the market for non-invasive fat reduction is expected to witness the highest CAGR of 17.7 % over the forecast period. This is attributed to low cost of treatment, rising patient awareness, availability and benefits of body contouring treatments, rising demand for aesthetics, cultural adoption from the western economies and marketing strategies implemented by the key players in the market for non-invasive fat reduction. The combination of all these factors will make Latin America emerge as the most promising market for non-invasive fat reduction in the forecast period.
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Non-invasive Fat Reduction Market Segmentation
Grand View Research has segmented the global non-invasive fat reduction market on the basis of technology type, end use, and region:
Non-invasive Fat Reduction Technology Type Outlook (Revenue, USD Million, 2016 - 2027)
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Cryolipolysis
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Ultrasound
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Low Level Lasers
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Others
Non-invasive Fat Reduction End-use Outlook (Revenue, USD Million, 2016 - 2027)
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Hospitals
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Stand Alone Practices
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Multispecialty Clinics
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Others
Non-invasive Fat Reduction Regional Outlook (Revenue, USD Million, 2016 - 2027)
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North America
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U.S.
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Canada
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Europe
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U.K.
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Germany
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France
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Spain
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Italy
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Asia Pacific
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India
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Japan
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China
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Australia
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South Korea
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Latin America
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Brazil
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Mexico
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Argentina
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Middle East & Africa
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South Africa
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Saudi Arabia
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UAE
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List of Key Players of Non-invasive Fat Reduction Market
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Fosun Pharmaceuticals Co. Ltd
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Cutera Inc.
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Cynosure LLC
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Zeltiq Aesthetics
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Syneron Candela
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BTL Industries
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Lynton Lasers Ltd.
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Venus concept
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