Weight Loss Procedures Industry | Forecast 2030
Grand View Research’s weight loss procedures industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
The Weight Loss Procedures industry data book is a combination of market data from three reports namely, liposuction surgery market, bariatric surgery market, and non-invasive fat reduction market. Liposuction surgery market was valued at USD 5.4 billion in 2022 and is growing at a CAGR of 12.6% during 2023-2030. Bariatric surgery market was valued at USD 5.2 billion in 2022 and is expanding at a CAGR of 7.4% during 2023-2030. Non-invasive fat reduction market was valued at USD 1.5 billion in 2022 and is growing at a CAGR of 14.6% during 2023-2030.
Access the Global Weight Loss Procedures Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
The increase in incidence of obesity across all age groups worldwide is one of the major factors that can be attributed to the market growth over the forecast period. Obesity or overweight are major health concerns that lead to a number of associated diseases or complications such as diabetes, cardiovascular diseases, and cancers.
Liposuction Surgery Devices Market Insights
The global liposuction surgery devices market size was valued at USD 1.2 billion in 2022 and is expected to expand at a CAGR of 13.1% from 2022 to 2030. The COVID-19 pandemic has had a considerable impact on the market. Restrictions on movement & stay-at-home orders are helping reduce the spread of COVID-19. However, this is creating an obstacle in the manufacturing of medical devices as the supply chain is disrupted due to restrictions on borders. Also, there is a shift of focus from the liposuction surgery device market to medical devices used during COVID-19 has resulted in unintended consequences that may potentially disrupt the liposuction surgery device market.
Growing beauty consciousness among a large population and increasing demand for liposuction procedures by both men and women are majorly driving the liposuction surgery devices market. In addition, the growing number of cosmetic surgeries across the globe is another driving factor for the market. Liposuction surgery is gaining popularity due to increasing promotions on social media, minimal health risks, and better results while reducing costs. Besides growing trends in non-invasive cosmetic procedures, many women prefer undergoing cosmetic surgery rather than changing their lifestyles.
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Bariatric Surgery Devices Market Insights
The global bariatric surgery devices market size was valued at USD 1.3 billion in 2014 and is projected to grow at a CAGR of 10.15% over the forecast period. Increasing incidence rate of obesity in adults due to changing lifestyle habits and excessive intake of calories are major drivers of the bariatric surgery devices market. Moreover, government support and increasing awareness about unhealthy food and drinks available in the market, and their effect on BMI is further projected to increase the bariatric surgeries demand over the forecast period.
According to the WHO data review of 2016, 1.9 billion people are overweight out of which 650 million suffer from obesity. Almost 13% of the population in the age range of 18 years and older are obese and 41 million children under the age of 5 years suffer from obesity. The American Heart Association has estimated the total medical cost to reach up to USD 957 billion from USD 861 billion by 2030. The huge healthcare spending has alarmed the government to take action to reduce the incidence of obesity and the long-term chronic diseases related to it. In 2017, the Centers for Disease Control and Prevention (CDC), funded around USD 8.5 million to 50 states along with the District of Columbia to enhance strategies to reduce obesity in areas with high-obesity levels.
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Non-invasive Fat Reduction Market Insights
The global non-invasive fat reduction market size was estimated at USD 1.3 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 16.2% from 2023 to 2030. Non-invasive fat reduction is a procedure carried out to remove excess fat from certain parts of the body by using methods, such as laser, lipolysis, cryolipolysis, and radiofrequency. Non-invasive devices used in these procedures are FDA-approved as their safety & efficiency have been tested and have shown significant results. In March 2023, the FDA approved the EON Smarter Body Contouring device manufactured by Dominion Aesthetics Technologies, Inc. for the treatment of back and thighs. The device is designed with state-of-the-art technology, which offers maximum flexibility and can be used for the treatment of all patients.
These procedures are to be carried out by professional practitioners who are technically sound to execute these treatments. Some of the famous brands for non-invasive fat reduction procedures are CoolSculpting, Kybella, Vanquish, and Sculpsure. The COVID-19 pandemic had a negative impact on the growth of this market. Since the lockdown guidelines instructed the delay of several elective procedures, the demand for non-invasive fat reduction devices was also reduced. Most of the clinics were on the verge of shutting down as a result of a lesser number of procedures and disruption in production and supply chain. However, with the easing of lockdown restrictions, a surge in aesthetic surgeries was observed in the following years.
Competitive Insights
The industry growth is directly associated with the shift in technology, demand for noninvasive procedures, and the extensive adoption of advanced healthcare technology for improved healthcare services. Moreover, the competition among major market players will turn intense in the upcoming years as they are focusing more on strategic collaborations, geographical expansion, and partnerships through mergers and acquisitions.
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