The North America fat reduction market is expected to grow in the forecast period due to the increasing demand for minimally invasive and non-invasive procedures and decreased disparity between men and women for aesthetic functions. The market is also influenced by the growing aesthetic consciousness and beauty standards and growing technological advancement. However, the North America fat reduction market is expected to be hampered by the high cost of procedures, increased risks associated with the procedures, and product recall.
The customized treatment plans and integration with other aesthetic procedures, beliefs, and trends of fat reduction in young adults and focus on inclusivity and diversity and expansion of product lines are expected to act as opportunities for market growth. However, low term efficacy and sustainability and longer recovery time of the procedure is expected to challenge market growth.
The demand for the fat reduction market has increased in both developed and developing countries, and the reason behind this is its effectiveness and availability. Thus, many market players offer fat reduction products with innovations that pave the way for the growth of the North America fat reduction market.
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Data Bridge Market Research analyses that the North America Fat Reduction Market is expected to grow at a CAGR of 9.9% in the forecast period of 2023 to 2033 and is expected to reach USD 11,773.56 million by 2033. The type segment is expected to dominate the market due to growing technological advancements.
Key Findings of the Study
Growing Aesthetic Consciousness and Beauty Standards
People in both developed and developing countries are becoming more conscious of their appearance. With the increasing standard of living and the growing importance of physical appearance in Western culture, there is a rise in demand for aesthetic surgeries every year.
The awareness towards aesthetic procedures has increased the demand and improved the purchasing power of people, due to which increasing aesthetic consciousness and awareness is expected to boost the demand of the market.
Beauty standards are a set of values applied to the appearance of both men and women to be regarded as beautiful and handsome in order to rightly fit in the community. Setting beauty ethics is one of the major reasons that forcefully made people change their lifestyles in this ever-changing world hence is expected to drive market growth.
There are numerous reasons for increasing consciousness and awareness towards the appearance of people it includes constant bombardment with advertisements and information on new devices, and improving lifestyle which has boomed in the industry leading to increased awareness of people about their appearance.
The high prevalence, accessibility, and evolution of cosmetic surgeries have been seen as people are largely influenced by the media. Moreover, an increased number of surgeons and the evolution of interest of people has created more demand for these procedures, both surgical and minimally invasive. Therefore, increased awareness of cosmetic procedures among people is expected to drive the North America fat reduction market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2033
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Type (Surgical Fat Reduction, Non-Invasive Fat Reduction, and Minimally Invasive), Application (Abdominal Fat, Thighs Fat, Buttock Fat, Upper-Arm Fat, Facial Fat-Deposits, and Knee Fat), Gender (Female and Male), Age Group (Adult, Geriatric, and Child), End User (Hospitals, Multi-Specialty Clinics, Dermatology Centers, Medical Spas and Beauty Centers, and Others), Distribution Channel (Direct Tender, Retail Sales, Third Party Distributors and Others)
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Countries Covered
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U.S., Canada, Mexico, Costa Rica, Dominican Republic, Panama, El Salvador, Guatemala, Honduras, and Nicaragua
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Market Players Covered
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Hironic Co Ltd (South Korea), AbbVie Inc. (U.S.), Cynosure (U.S.), Alma Lasers (Isreal), Candela Corporation (U.S.), Solta Medical (Subsidiary of Bausch & Lomb Incorporated) (U.S.), Cutera (U.S.), MicroAire Surgical Instruments, LLC. (U.S.), Mentor Worldwide LLC (U.S.), Venus Concept (Canada), Erchonia Corporation (U.S.), BTL Group of Companies (Canada), Fotona (Slovenia), and Implantech (U.S.), among others.
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The North America fat reduction market is categorized into type, application, gender, age group, end-user, and distribution channel.
- Based on type, North America fat reduction market is segmented into surgical fat reduction, non-invasive fat reduction, and minimally invasive.
In 2023, the surgical fat reduction segment is expected to dominate the fat reduction market
In 2023, the surgical fat reduction segment is expected to dominate the fat reduction market with 82.06% market share due to increasing demand for minimally invasive and non-invasive procedures.
- Based on application, North America fat reduction market is further segmented into abdominal fat, thighs fat, buttock fat, upper-arm fat, facial fat-deposits, and knee fat. In 2023, the abdominal fat segment is expected to dominate the fat reduction market with 34.89% market share.
- Based on gender, North America fat reduction market is segmented into male and female. In 2023, the female segment is expected to dominate the fat reduction market with 86.86% market share.
- Based on age group, North America fat reduction market is segmented into adult, geriatric, and child. In 2023, the adult segment is expected to dominate the fat reduction market with 47.98% market share.
- Based on end user, North America fat reduction market is segmented into hospitals, multi-specialty clinics, dermatology centers, medical spas and beauty centers, and others.
In 2023, the hospitals segment is projected to hold the largest share of end user segment in the fat reduction market
In 2023, the hospitals segment is expected to dominate the fat reduction market with 44.52% market share due to avaliblity of highly skilled professional.
- Based on the distribution channel, North America fat reduction market is segmented into direct tenders, retail sales, third party distributors, and others. In 2023, the direct tenders segment is expected to dominate the fat reduction market with 40.81% market share.
Major Players
Data Bridge Market Research recognizes the following companies as the major players in North America fat reduction market Hironic Co Ltd (South Korea), AbbVie Inc. (U.S.), Cynosure (U.S.), Alma Lasers (Isreal), Candela Corporation (U.S.), among others.
Market Developments
- In October 2023, MOLLER Medical is going to organize an event named SOFCEP Congress 2023 from 1 June to 3rd June 2023. This event is themed on aesthetic medicine and the complementarity between aesthetic medicine gestures and interventions. This would help the company to reach a bigger customer base.
- In August 2023, Implantech is going to organize the event at the Second Multispecialty Aesthetics Conference at the Marriot Marquis Hotel in San Diego, U.S. This conference would help the company in showcasing its innovation in the field of implants.
- In May 2023, Hironic Co., Ltd. announced that it had won the grand prize in the beauty and medical device category at the Money Today '2023 Consumer Satisfaction Awards' held at the Korea Press Center in Jung-gu, Seoul on the 27. This helps the organization in developing brand image among others.
- In January 2023, Fotona announced that it showcased its aesthetics product portfolio at the IMCAS congress. It stated that its aesthetic portfolio, the SP Dynamis Nx Line laser system with built-in CoolMist skin cooling and optional Dynamic Vacuum Technology, as well other Fotona products and applications, such as AvalancheLase, TimeWalker Fotona4D were showcased which would help the company in reaching the higher customer base.
- In June 2019, Cutera launched its new product named truSculpt Flex for the muscle-sculpting market. This new product launched by the company increases its product portfolio in the medical aesthetic segment leading to increased demand for its product in the market.
Regional Analysis
Geographically, the countries covered in the North America fat reduction market report are U.S., Canada, Mexico, Costa Rica, Dominican Republic, Panama, El Salvador, Guatemala, Honduras, and Nicaragua.
As per Data Bridge Market Research analysis:
The U.S. is the dominant and the fastest growing country in the North America fat reduction market
The U.S. dominated the fat reduction market owing to the higher level of investments by various manufacturers and increasing technological advancements in the region and will continue to dominate the fat reduction market in terms of market share and market. Also, The U.S. is estimated to be the fastest growing region in fat reduction market due to the growing adoption of advanced technology and launch of new products in this region.
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