Non-invasive Fat Reduction Industry Overview
The global non-invasive fat reduction market size is expected to reach USD 4.3 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 16.1% from 2022 to 2030. Treatments like Cryolipolysis, low-level lasers, and Ultrasound are the most commonly used method for noninvasive fat reduction procedures. The rising contribution of market players is playing a prominent role in promoting such procedures is driving the market. Other factors like rising awareness, increasing prevalence of obesity 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 the market further.
Non-invasive procedures are rapidly replacing invasive surgeries and people are opting more for aesthetic procedures like body contouring as the risk 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 have contributed to the prevalence of conditions like obesity and diabetes. CoolScultping and Kybella were the most preferred workstations for the removal of fat in 2020.
The 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, disposable income reached 16661.65 USD billion as of December 2019. A combination of various factors like advancements in technology, efficacy, and safety of such procedures, increasing obese population, and rigorous promotions will certainly boost the market in the following years.
The onset of Covid-19 disrupted the aesthetic market in the first and second quarters of 2020 due to low patient footfall and the risk of virus transmission. However, the market witnessed a recovery as the procedure volume increased as the demand for aesthetic treatments escalated post-pandemic.
Non-invasive Fat Reduction Market Segmentation
Grand View Research has segmented the global non-invasive fat reduction market based on technology, end-use, and region:
Based on the Technology, the market is segmented into Cryolipolysis, Ultrasound, Low-Level Lasers, and Others.
- The cryolipolysis segment held the highest market share of 34.1% in 2021. Cryolipolysis is a non-invasive method where cold temperatures are used to freeze and kill the fat in the targeted area which is then drained out of the body over two to six months by the metabolic pathways.
- The cryolopolysis segment demand is expected to boost also because it is more affordable, has very common complications like temporary discomfort, no downtime and a lot of campaigns have been launched by various key players for awareness regarding the safety and benefits of these devices.
Based on the End-use, the market is segmented into Hospitals, Stand Alone Practices, Multispecialty Clinics, and Others.
- The hospital segment held the highest market share of 52.2% in 2021. This is mainly because the hospital settings are well equipped with high-end technology, fat reduction devices, professional practitioners, and the necessary infrastructure to carry out such procedures, moreover, there is a sense of trust and reliability when the treatment is conducted in a hospital.
- Hospital accreditation is a crucial factor that positively further influences the patient preference for undergoing aesthetic procedures. The multispecialty clinic segment is also showing significant growth in the forecast period as they serve all the needs of the patients in one convenient location with procedural variations and the availability of skilled practitioners.
Key Companies Market Share Insights
The global market is highly competitive. Some of the players operating in the market are Fosun Pharmaceuticals Co. Ltd; Cutera Inc.; Cynosure LLC; Zeltiq Aesthetics; Syneron Candela; BTL Industries.; Lynton Lasers Ltd; and Venus concept. One of the key factors driving competitiveness among market players is the rapid adoption of advanced technology and improved result output.
Moreover, the competition between key players will turn intense in the coming years as they are focusing more on geographical expansion, strategic collaborations, and partnerships through mergers and acquisitions. The major players in the market are rigorously promoting their fat reduction workstations by making use of various marketing strategies For instance, In September 2020, Cutera announced the launch of truSculpt flex, which is the company’s body sculpting platform, in Canada. Some of the key players in the global non-invasive fat reduction market 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.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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