Breast Implants Market Size | Grow at 5% CAGR | $41.5.86 billion by 2024

MaketStudyReport.com adds a New Breast Implants Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at 2024.
Breast Implants Market size is set to exceed USD 4 billion by 2024; according to a new research study.
Rising number of breast augmentation procedures coupled with increasing breast cancer incidence will drive market size over the forecast timeframe. Augmentation procedures enable women to increase their breast size and improves bust and hip contour balance. Reconstruction procedures help to restore one or both breasts to near normal size, shape and appearance.
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Breast Implants Market by Product: Silicone Implant, Saline Implant.
Breast Implants Market by Shape: Round, Anatomical.
Breast Implants Market by Application: Breast Augmentation, Breast Reconstruction.
Breast Implants Market by End Use: Hospitals, Clinics, Others.
The above information is provided for the following regions/countries: North America, U.S, Canada, Europe, Germany, UK, France, Italy, Spain, Russia, Asia Pacific, China, India, Japan, South Korea, Australia, Latin America, Brazil, Mexico, Argentina, Middle East and Africa, South Africa, Saudi Arabia, Egypt.
Growth drivers:
Increasing number of breast augmentation procedures, Growing breast cancer incidence, Technological advancements, Increasing number of plastic surgeons, Industry pitfalls & challenges, High cost of implantation procedure, Risk of complications, Emergence of alternative techniques.
High cost of implantation procedure will impede industry expansion. Risk of complications in the case of both saline and silicone implants further limits procedure adoption. Complications associated with the procedure include infection, scarring, capsular formation and contraction, sensation changes to breast and nipple and chances of implant rupture. Additional surgeries may be required for treating the same.
Silicone implants accounted for the largest revenue share due to its resemblance to natural breast tissue. Other benefits such as reduced probability of rippling and wrinkling further boosts adoption. However, difficulty of detecting device rupture restrains segment expansion. The rupture can only be detected after conducting an MRI.
Anatomical implants are poised to grow at a lucrative pace owing to its sloped contour with more implant material located at the bottom that provides a more natural appearance. These inserts provide greater projection with same volume as compared to round shaped ones. However, risk of rotation and rippling coupled with higher costs restrains segment growth.
Application of the inserts in breast reconstruction will grow at a rapid rate over the forecast time frame due to increasing incidence of breast cancer. Growing awareness regarding reconstruction surgery has resulted in increasing procedure adoption. Advantages of the reconstruction surgery such as short duration and less complex nature along with little scarring should further escalate demand. However, risks of complications such as infections, bleeding and delayed healing limits adoption rate to some extent.
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U.S. breast implants market held significant industry share. Increasing number of women opting for augmentation procedures will drive growth. Increasing per capita expenditure on cosmetic procedures will serve to be a high impact rendering factor.
South Korea breast implants market is slated to witness robust growth over the forecast years. Increasing number of clinics and hospitals catering to plastic surgery coupled with increasing number of plastic surgeons is driving industry growth. Increasing desire to look attractive for excelling in professional life further fuels demand. Furthermore, growing influx of overseas patients especially from neighboring countries augments industry expansion.
Prominent industry players include GC Aesthetics, Sientra, Allergan, Mentor, Arion Laboratoires, Ideal Implant, Groupe Sebbin, Cereplas, Establishment Labs and HansBiomed. The industry players resort to strategic initiatives such as agreements, acquisition and strong emphasis on product development and innovation in order to broaden their product portfolio and strengthen industry presence. For instance, in June 2016, Establishment Labs entered into a ten year distribution agreement with Human Wellness Corporation to market its Motiva Implants.
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