Global Non-invasive Fat Reduction Market: Snapshot
The global non-invasive fat reduction market is consolidated owing to a few players holding a substantial share in it. Prominent names in the market have established a stronghold by expanding their geographical outreach by offering multiple non-invasive fat reduction devices. Keen players are also seen growing their marketing spends in order to build solid brand awareness and subsequently attract more customers. Besides, emerging players in the market are seen contributing majorly to its growth.
Serving to drive demand in the global non-invasive fat reduction market is the alarming rise in obesity and health hazards posed by them. This has resulted in people increasingly going for fat reduction and body contouring both through non-invasive and surgical procedures. Demand for better products which are easier to use and yield faster results has resulted in manufacturers focusing on research and development of innovative products. This is also having a positive influence on the market.
A report by Transparency Market Research predicts the global non-invasive fat reduction market to rise at a CAGR of 15.9% CAGR from 2017 to 2025 to become worth US$2.50 bn by 2025 from US$693.2 mn in 2016.
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Rising Instances of Obesity Stoke Demand
Catalyzing growth in the global non-invasive fat reduction market is the alarming rise in obesity worldwide due to consumption of calorie-laden fast foods and beverages and a sedentary lifestyle. In order to get rid of the excess body fat, which besides distorting the appearance is also harmful for health, people are increasingly opting for fat reduction and body contouring both through non-invasive and surgical procedures.
“In addition, increase in prevalence of diseases associated with obesity such as diabetes, growing preference of customers for aesthetic procedures, and their willingness to spend more on them has boosted the market growth of the global non-invasive fat reduction market,” explains the lead analyst of the TMR report.
Focus on Product Innovation Drives Growth
Constant thrust on product innovation on account of demand for technologically superior products that are hassle-free to use and yield faster results, is also having a positive impact on the non-invasive fat reduction market globally. For example, cryolipolysis treatment by coolsculpting device is completed in 30 to 60 minutes, eliminating about 25 to 30% fat circumference.
Currently non-invasive fat reduction devices are expensive and account for a small part of the medical aesthetic market. Eventually, their demand will rise significantly due to the growth of the obese population, aging population, expendable income, product innovation, and cultural acceptance of aesthetic procedures.
This review is based on the findings of a TMR report, titled, “Non-Invasive Fat Reduction Market (Technology – Cryolipolysis, Ultrasound, and Low Level Lasers; End User – Hospitals, Dermatology Clinic, and Cosmetic Centers) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025.”
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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This post was originally published on The Market Plan