Breast Implants Market is anticipated to grow at a CAGR of 6.1% from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “Breast Implant Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global breast implants market is estimated to account for over US$ 2.7 billion in 2019. It is anticipated to grow at a CAGR of 6.1% from 2019 to 2030.
Significant market growth can be attributed to the increasing number of breast augmentation procedures. Moreover, factors such as the rising prevalence of breast cancer, the launch of new products, and technological advancements are anticipated to boost market growth over the forecast period. Extensive research & development activities by major companies and universities across the globe for developments in breast implant technology with an aim to increase safety and precision are expected to contribute to market expansion. In June 2019, GC Aesthetics announced the launch of Eve 4.0, a digital consultation solution that provides visualization aids to patients considering breast augmentation.
The global market is driven by an increase in the number of breast surgeries. A high number of surgeries are performed in the U.S., Brazil, and Mexico. According to the International Society of Aesthetic Plastic Surgery, 1.8 million breast augmentation surgeries were performed in 2018 out of which, 88% of total 2018 breast implants were silicone; 12% were saline. An increase in the number of surgeries is also propelling the demand for breast implants. This, in turn, aids substantial growth in the breast implant market.
The market is also driven by new product launches and technological advancements. Most players are involved in the manufacture of various types of breast implants, offering maximum advantages. For Instance, In Jan 2017 Allergan Plc. received FDA’s approval to market NATRELLE INSPIRA SoftTouch breast implants in the US. Additionally in Jan 2018 Sientra Inc., received FDA approval of the PMA supplement, allowing commercialization of its OPUS-branded breast implant products manufactured by Vesta. This is expected to propel growth of the overall breast implant market.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Breast Implants Market by Product (Silicone Breast Implants and Saline Breast Implants), Application (Breast Augmentation and Breast Reconstruction), End Users (Hospitals and Specialty Clinics) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/breast-implants-market/206
However, various complications associated with breast implants are affecting market growth to a certain extent. Breast implants do not last for a lifetime and undergoing breast implant surgeries involve complications, which may also lead to breast implants removal at points. This may hamper market growth considerably. For instance, in 2018, the American Society of Plastic Surgeons reported 29,236 breast implant removal procedures. Moreover, the high procedural cost is also a major restraint for the market.
Asia Pacific is estimated to account for the highest CAGR in the breast implant market during the forecast period owing to the increasing awareness about silicone implants and rising demands for cosmetic surgeries. Such factors are anticipated to present lucrative growth opportunities for the regional breast implant market. The U.S. is one of the largest markets for breast implants and augmentation followed by Canada in the North American region.
Some of the prominent players in the breast implants market include Allergan, Mentor Worldwide LLC, Hans biomed, Establishment Labs, Polytech Health & Aesthetics, Sientra, Inc., GC Aesthetics, Cereplas, Groupe Sebbin SAS, and Laboratories Arion, among others.
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