Breast Implants Market Estimated to Garner up to US$ 1,671.3 Million by 2027 | CAGR: 4.2%: Coherent Market Insights
Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global breast implants market was assessed at US$ 1,201.4 Mn in 2019 and is further projected to demonstrate a robust CAGR of 4.2% during the forecast period (2020-2027).
Increasing incidence of breast cancer, coupled with the rising adoption of cosmetic and aesthetic procedures, is projected to spur the global breast implants market development in the foreseeable future. According to the breastcancer.org 2018, at least one of every eight women develops invasive breast cancer in her entire lifetime. Increasing initiatives for the assurance of product safety and the launch of new devices are foreseen to elevate the global breast implants market growth.
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Rapid product development by key manufacturers is rapidly augmenting the growth of the global breast implants market. For instance, in May 2016, Sientra, Inc. received the FDA approval for four new breast implants, with additional profiling and sizing options for nine existing implants. Furthermore, in October 2016, a Breast Implant Register was launched in Europe to keep a track of faulty implants as a result of Breast Implant Scandal in 2010.
Technological enhancements and improvements in designs, materials, construction, and fill volumes, are indispensable factors poised to accelerate the global market growth in the coming years. For instance, in April 2017, Mentor Worldwide LLC received an FDA approval for MemoryGel XTRA silicone gel-filled breast implant that will act as a first tissue breast expander with Dynamic Control Technology to provide precise and controlled expansion. Furthermore, in June 2017, G&G Biotechnology introduced innovative B-Lite lightweight breast implants. These implants are the first and only lightweight breast implants.
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Key Takeaways of the Global Breast Implants Market:
- Escalating demand for cosmetic surgeries and breast augmentation procedures being carried out worldwide are among the most significnat factors fuelling the global market expansion.
- Among product types, the silicone breast implants segment held a dominant position in the breast implants market in 2016, due to the lesser risk of hard scar tissue formation associated with these implants, and a more natural look offered by them.
- In terms of application, the cosmetic surgery segment holds the highest market share in the global breast implants market, owing to the emergence of advanced cosmetic surgeries that helps enhance the aesthetic appeal of an individual.
- The round shaped implants segment dominated the global breast implants market in 2016, as these devices are symmetrical in shape and eliminate problems associated with implant rotation.
The most prominent players operating in the global breast implants market are Allergen, Inc., Mentor Worldwide LLC, GC Aesthetics Plc, Sientra, Inc., POLYTECH Health and Aesthetics GmBH, Establishment Labs S.A., LABORATORIES ARION, HANSBIOMED Co. Ltd., Groupe Sebbin SAS, and GG Biotechnology Ltd.
The aforementioned companies are currently adopting strategies, such as collaborations and acquisitions, to expand their product portfolios. For instance, in June 2017, Allergen, Inc. acquired Keller Medical. Its product, called Keller Funnel, is an innovative component in cosmetic breast implant procedures, as it helps reduce patient-surgeon contact during the surgical procedure. Furthermore, in August 2016, Sientra, Inc. collaborated with Vesta for the large-scale manufacture of breast implants in a safe and sterile environment.
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