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Breast Implant Market Industry Overview, Trends and Growth Opportunities Forecasted till 2025

, 15 June 2018 -- Breast implants are medical devices that are used to augment the size of breasts, either for cosmetic applications or reconstruction purpose, following mastectomy or to correct a congenital abnormality.

Breast implants are medical devices that are used to augment the size of breasts, either for cosmetic applications or reconstruction purpose, following mastectomy or to correct a congenital abnormality. Breast augmentation, commonly known as breast enlargement, is a popular surgical procedure that improves the size and shape of the breast. The procedure involves the use of breast implants and fat, called as fat transfer breast augmentation, in order to enhance and improve the size of the breasts. In clinical terms, breast augmentation is referred as augmentation mammoplasty. According to a statistics by American Society of Plastic Surgeons (ASPS), the average cost of a breast augmentation surgery was US$ 3,708 in 2014. Socioeconomic status is a primary factor creating a high demand for breast implants globally.

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The primary customer base for breast augmentation are women belonging to middle- and high-income families. The World Bank estimates that the global annual disposable income per capita for women is expected to increase at a CAGR of approximately 6% in the next few years, driving the expansion of the aesthetic market globally. Additionally, significant rise of the world’s middle-class population over the last few years, resulting in increase in purchasing power and discretionary spending, is indicative of the stability and growth of the global breast implant market. It has been estimated that much of this growth in purchasing power is likely to come from emerging markets, which is attributed to rising disposable income.

Rise in global disposable income and growth in reimbursement rates for reconstructive procedures are expected to propel the market growth for breast implant during the forecast period. In addition, availability of premium-priced products, expansion of product portfolio, and increase in prevalence of breast cancer are factors driving the global market growth for breast implant. As per data released by the World Health Organization (WHO), in 2012, 1.7 million women were diagnosed with breast cancer, leading to approximately 522,000 deaths during the same year. Hence, increase in breast cancer prevalence is a major factor contributing to revenue growth of the breast implant market across the globe. However, risk of developing serious complications and lack of skilled nursing facilities in developing regions may hamper the market share. Large amount of documented evidences supporting the possibility of developing breast cancer after getting breast implants is one of the prime reasons hampering the growth of the market. In 2011, FDA indicated possible association between breast implants (saline and silicone) and anaplastic large-cell lymphoma (ALCL). Anaplastic large-cell lymphoma is a rare type of non-Hodgkin’s lymphoma (NHL), characterized by abnormal growth of T-lymphocytes. According to the National Cancer Institute, the disease affects 1 in 500,000 women globally. However, in the U.S., ALCL affects 3 in 100 million women who have undergone breast implants surgery.

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The global breast implant market is segmented on the basis of implant type, application, end-user, and region. Based on implant type, the market is categorized into saline breast implants and silicone breast implants. The silicone breast implants segment is expected to account for a significant share of the market in the near future. The large share of the segment are attributed to comparatively less adverse reactions associated with it, availability of expanded product line, and premium-priced products. On the basis of application, the market is divided into cosmetic surgery and reconstructive surgery. Breast augmentation remains one of the top cosmetic surgical procedures globally; hence, the cosmetic surgery segment held a major share of the market in 2016 and the trend is expected to continue in the near future. Rise in emphasis on physical appearance and studies reporting increased self-esteem and confidence in women with cosmetic breast augmentation are expected to drive the growth of the market for breast implant in cosmetic applications. Further, adoption of reconstructive surgery is expected to increase significantly in women undergoing mastectomy.

On the basis of end-user, the market is segmented into hospitals, dermatology clinics & cosmetic centers, and ambulatory surgical centers. The hospitals segment is expected to be the most attractive end-user segment of the market during the forecast period owing to the rising popularity of surgical procedures that are performed in hospitals rather than cosmetology clinics. According to the International Society of Aesthetic Plastic Surgery, majority of surgical procedures are performed in hospitals accounting for approximately 66.5% share of the global market.

Based on geography, the market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global breast implant market during the forecast period owing to rise in awareness and adoption of various silicone breast implant services, growth in health care infrastructure, and increase in incidence of breast cancer.

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Key players operating in the market include Allergan, Plc, Mentor Worldwide LLC, GC Aesthetics plc, Sientra, Inc., Groupe Sebbin SAS, POLYTECH Health & Aesthetics GmbH, Establishment Labs S.A., CEREPLAS, and HansBiomed Co. Ltd.

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Submitted by hawer on Friday, 15 June 2018 at 8:32 PM
Category: Government & Policy
 
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