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.
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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.
Rising at a robust 15.9% CAGR from 2017 to 2025, the global non-invasive fat reduction market, valued at US$693.2 mn in 2016 will likely attain a value of US$2.50 bn by 2025, finds a report by Transparency Market Research.
The different types of non-invasive fat reduction technologies in the market are ultrasound, cryolipolysis, radiofrequencies, low level lasers, etc. The cryolipolysis devices, at present lead the market with maximum share owing to their wide array of uses. As a result, doctors, aesthetic surgeons, dermatologists, patients, etc. prefer them over other devices.
Geographically, the key segments of the global non-invasive fat reduction market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, among them, with a large proportion of obese population, currently holds a dominant share in the market vis-à-vis revenue. Presence of numerous new and established manufacturers in the region, who are coming up with advanced products quite frequently, along with the high spending capacity of people, is serving to drive the market. By registering a CAGR of 15.4%, the North America market is expected to hold on to its dominant share in the upcoming years as well.