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The South Korea body fat reduction market is expected to grow at a CAGR of 7.2% between 2023 and 2028. The increase in the incidences of overweight and obesity due to the sedentary lifestyle brought on by the COVID-19 outbreak is expected to foster demand for body fat reduction procedures. Moreover, stressful and unhealthy lifestyles among youth and high beauty standards in Korean society further augment the body fat reduction industry in South Korea.
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The complex connective tissue known as adipose tissue, or body fat, has particular roles in the metabolism and endocrine system. A decrease in total body mass brought on by the loss of fluid, body fat adipose tissue, or lean mass, muscle, bone mineral deposits, tendon, and other connective tissue, is referred to as body fat reduction. The removal of extra adipose tissue or fats from the body via surgical or non-surgical means is a common practice in cosmetic surgery.
The COVID-19 outbreak led to an increase in the sedentary lifestyle due to lockdown measures imposed by the government, which led to overweight and obesity concerns among population. Due to postponed cosmetic surgery in 2020, the COVID-19 pandemic had a detrimental influence on the demand for the fat reduction business. The total market was hampered by the implementation of stringent rules and criteria for accessing clinical facilities. However, the market has recovered in 2021 and has shown signs of good market development in the coming years. Factors like work-from-home culture, a sedentary lifestyle, and rising disposable income continue to boost the body fat reduction market in South Korea.
Koreans pay close attention to their looks and people are often judged based on their complexion and body type. In several industries such as in entertainment and airline industry, people are expected to match certain set beauty standards. One of the major factors that drive the fat reduction market is the entertainment industry, as celebrity influence is quite high people often undergo such procedures to get the desired body shape and look.
In addition, surgeries to lose weight or alter the body after childbirth are becoming more popular. Young people and women are becoming more conscious of their physical appearance and fitness levels in order to achieve body slimming. Therefore, it is projected that throughout the forecast period, these factors would considerably fuel the expansion of the body fat reduction market.
There is a sizable presence of several well-established market rivals that are continually creating revolutionary gadgets employing cutting-edge methods including laser lipolysis, radiofrequency therapy, and light treatment, among others. Numerous non-invasive red light therapy devices for body fat reduction have been introduced to the market by various firms. Since, they focus on minimising blood loss, reducing patient hospitalisation, safety, and convenience of use, minimally invasive therapy approaches for body fat removal are becoming more popular. Furthermore, due to its increased affordability, less invasiveness, reduced discomfort, and low risk of consequences, minimally intrusive treatments are predicted to dominate the body fat reduction market in South Korea.
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Based on procedure, the South Korea body fat reduction market is segmented into surgical and non-surgical. The surgical segment is further segmented based on type into liposuction and abdominoplasty. The non-surgical segment is sub-segmented by type into cryolipolysis, ultrasound, and laser liposuction, among others. On the basis of gender, the body fat reduction market of South Korea is divided into male and female. Based on end-user, the South Korea body fat reduction market is divided into hospitals and clinic, and medical spas, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea body fat reduction market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
The need for bougie and artistic looks in the country is driving cosmetic surgery for body fat reduction. Cosmetic surgery is a procedure that enhances one's face and body appearance. The growing popularity of surgical and non-surgical body contouring or body shaping procedures contributes to the market's expansion. The non-invasive procedure provides faster results, and fat cell reduction lasts for a longer period of time. Owing to the numerous weight loss and fat reduction treatments due to aesthetic purposes, both surgical and non-surgical segments are expected to grow during the forecast period. Among non-surgical methods, crylipolysis is getting popular because of its cost-effectiveness and campaigns by market players to popularise the procedure in the market.
Along with industrial developments, living culture is also evolving quickly, resulting in a sharp rise in nuclear families and one-person homes. Focusing on health is quickly evolving as a result of rising life expectancy and rising healthcare demand. Young people of both genders especially women are becoming more conscious of their physical appearance and fitness levels in order to achieve body slimming. Since people put a lot of effort into their outer appearance be it men or women but women segment leads the market. it is projected that throughout the forecast period, all these factors would considerably fuel the expansion of the body fat reduction market.
The availability of several facilities offering these operations is a growing opportunity for major companies to invest in the body fat reduction industry, which promotes market growth. In the coming future, the body fat reduction market would see more growth in the hospitals and clinics sector. These infrastructures offer a wide variety of services and improved technological support for patient admission. Due to these advantages, patients recover quickly after operations, thereby increasing the number of patients having procedures during the anticipated time period.
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Hironic Co. Ltd.- Hironic Co.,Ltd. manufactures medical equipment for skin care and obesity treatment. The business sells both medicinal and cosmetic items, such as EASYMO, DOUBLO, MICOOL, DOUBLO-S, MIRACLEAR, MIXEL, New Midas, MIDEPI and MIPL. Products from Hironic Co.,Ltd. are utilised in face lifting, body contouring, laser therapy for periorbital and perioral wrinkles, melasma, surgical scars, acne scars, burn scars, pigmented lesions, big pores, and burn scars. The business is headquartered in Seongnam, South Korea. It was founded in 2006 as Hironic Co.,Ltd.
Daeyang Medical Co., Ltd- Daeyang Medical is a medical equipment manufacturing and technical solution provider that develops innovative products that lead the market in the field of aesthetic/physical/rehab treatment by appropriately combining the medical device manufacturing know-how of the past five decades with the latest modern technology. Daeyang Medical, a professional medical device manufacturer, supplies a variety of aesthetic and physiotherapy equipment to the global market that meets certification standards. The company was established in 1978 in Gangwon-do, South Korea.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Procedure||
|Breakup by Gender||
|Breakup by End-User||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 South Korea Body Fat Reduction Market Overview
8.1 Key Industry Highlights
8.2 South Korea Body Fat Reduction Historical Market (2018-2022)
8.3 South Korea Body Fat Reduction Market Forecast (2023-2028)
9 South Korea Body Fat Reduction Market by Procedure
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.1.4 Breakup by Type
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
9.2.4 Breakup by Type
22.214.171.124.3 Laser Lipolysis
10 South Korea Body Fat Reduction Market by Gender
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
11 South Korea Body Fat Reduction Market by End-User
11.1 Hospitals and Clinics
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Medical Spas
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
12 Market Dynamics
12.1 SWOT Analysis
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Allergan Aesthetics
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.2 Fytexia Group
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.3 Hironic Co. Ltd.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.4 Daeyang Medical Co., Ltd.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.5 EMShape Korea
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Body Fat Reduction Market: Key Industry Highlights, 2018 and 2028
2. South Korea Body Fat Reduction Historical Market: Breakup by Procedure (USD Billion), 2018-2022
3. South Korea Body Fat Reduction Market Forecast: Breakup by Procedure (USD Billion), 2023-2028
4. South Korea Body Fat Reduction Historical Market: Breakup by Gender (USD Billion), 2018-2022
5. South Korea Body Fat Reduction Market Forecast: Breakup by Gender (USD Billion), 2023-2028
6. South Korea Body Fat Reduction Historical Market: Breakup by End-User (USD Billion), 2018-2022
7. South Korea Body Fat Reduction Market Forecast: Breakup by End-User (USD Billion), 2023-2028
8. South Korea Body Fat Reduction Market Structure
The South Korea fat reduction market is projected to grow at a CAGR of 7.2% between 2023 and 2028.
The rising disposable income, sedentary lifestyle, work-from-home culture due to COVID-19 restrictions, increased influence of entertainment and celebrities, high beauty standards, and improved standards of living are the major drivers of the South Korea body fat reduction market.
The high demand for fat reduction procedures and the surge of non-invasive procedures due to their numerous benefits and convenience is the key trend of the market.
The dominant types of body fat reduction procedures in the industry are surgical and non-surgical.
The major players in the industry are Allergan Aesthetics, Fytexia Group, Hironic Co. Ltd., Daeyang Medical Co., Ltd., and EMShape Korea, among others.
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