Competitive Scenario: Breast Implant Market Revenue, Growth Rates, and Industry Challenges in 2027
Pune, New York, USA, November 24 2020 (Wiredrelease) Research Dive –:Breast Implant Market size will exceed $4.9 Billion by 2026, growing at a CAGR of over 10.3% from 2019 to 2026; according to a new research study by Research Dive.
An increase in the number of breast augmentation processes, along with the rise in breast cancer incidences across the world will significantly drive the global breast implant market size over the forecast period. The breast augmentation processes enable women to improve their breast size, and also to improve their hip contour balance. These are also called as reconstruction procedures, which help to restore the breasts’ size to near normal size. They also help in improving the appearance of the breasts. Rapid growth in these procedures will significantly spur the global breast implant market growth during the projected timeline.
Rapid growth in the incidences of breast cancer across the world will boost the growth of breast implant market growth in the coming years. As a result of this, the majority women are preferring mastectomy procedures during their breast cancer treatment.
However, the high cost of implantation procedures, coupled with the rising implications post-surgeries will impede the breast implant market growth.
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The silicone breast implant market size held the largest share in 2018 and is projected to grow at a CAGR of over 10.2% over the projected timeframe. The dominant market size is expected throughout the forecast period, owing to the product’s capability to look natural. Some of the other benefits such as reduced wrinkling will further provide a significant boost to product adoption.
The breast implant market for reconstruction procedure will increase at a CAGR of more than 10.7% during the projected period. This is majorly due to the increasing incidences of breast cancer, and also to avoid them. An increase in awareness about reconstruction surgery to overcome the cancer incidences has resulted in significant growth in procedure adoption.
The majority of the patients are preferring clinics as their place of surgery. This is majorly due to the presence of skilled professionals, coupled with the less cost associated with the comparison with the hospital sector. Breast implant procedures in clinics will grow at a CAGR of over 9.8% during the projected period. Expanding infrastructure in the healthcare sector in the emerging economies will further enhance the market growth. This segment will further grow on account of the availability of skilled plastic surgeons in the clinics.
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North America market held a significant market share in 2018 and accounted for more than 40% in 2018. An increase in the number of the female population preferring the augmentation procedures will further drive the market growth. Growth in per capita expenditure, coupled with the rise in disposable income will further serve to be one of the high impacting factors for the growth of North America breast implant market growth.
The Asia-Pacific market is projected to witness a robust growth at 11.0% CAGR during the forecast period. The rise in the number of hospitals and clinics offering plastic surgery procedures, coupled with the increase in the number of plastic surgeons in this region will enhance the regional market growth during the coming years.
Some of the prominent companies in the global breast implant market include GC Aesthetics, Allergan, Mentor Worldwide LLC, Laboratoires Arion, Groupe Sebbin, Hansbiomed Co. Ltd., Sientra Inc., Silimed, Groupe Sebbin SAS, and CEREPLAS among many others. Some of the strategies preferred by the operating companies are product development and acquisitions.
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