According to the latest market research study titled Breast Implants Market Forecast to 2027 – Covid-19 Impact and Global Analysis by Product, Applications, and Surface Type, the global breast implants market was valued at US$ 1,535.96 million in 2019 and is estimated to reach US$ 2,278.40 million by 2027, and the market is expected to grow at a CAGR of 5.2%. The report highlights the trends prevalent in the global breast implants market and the factors driving the market along with those that act as deterrents to its growth.
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The global breast implants market is a significant market in the developed and developing economies worldwide. The advancement in cosmetic procedures is constantly increasing in recent days due to the advantages of the breast implants such as light weighted, smooth & textured shells, and lower risk of complications. The demand for breast implants is high in cosmetic procedures followed by reconstructive surgery. Additionally, growing advancements in surgical technologies and declining cost of procedures are expected to be a drive the growth of the breast implants market.
Breast implants are used a part of treatment of breast cancer. Rising prevalence of breast cancer in developed as well as developing countries has led to an increase in the demand for breast implants. As per the Breastcancer.org, in 2018, nearly 266,120 new cases of invasive breast cancer are expected to be diagnosed in women along with 63,960 new cases of non-invasive breast cancer in the US. Death rate due to breast cancer among women in the US is high than other types of cancer. In 2018, nearly 40,920 women died in the US due to breast cancer. The number of new cases of breast cancer in men is less compared to women. Beastcancer.org stated that in 2018, around 2,550 new cases of invasive breast cancer were recorded to be diagnosed in men.
Allergan plc. Mentor Worldwide LLC (J&J), GC Aesthetics, Sientra, Inc., Polytech Health & Aesthetics GmbH, Ideal Implant Incorporated, Silimed, Group Sebbib SAS, Guangzhou Wanhe Plastic Materials Co., Ltd, and HANSBIOMED CO. LTD are among the key players operating in the breast implants market.
Market Insights
Increasing Prevalence of Breast Cancer
Rising prevalence of breast cancer among women across the world has led to an increase in the demand for breast implants. The disease is common in developed and developing countries across the globe. As per the Breastcancer.org, in 2018, in the US, nearly 266,120 new cases of invasive breast cancer are expected to be diagnosed in women along with 63,960 new cases of non-invasive breast cancer. Deaths rates due to breast cancer among the women in the US are high than other types of cancer. In 2018, nearly 40,920 women in the US died due to breast cancer. The number of new cases for breast cancer in men isless compared to women. Beastcancer.org stated that in 2018, about 2,550 new cases of invasive breast cancer were diagnosed in men.
New Product Launches & FDA Approvals
The market for breast implants is also driven by new product launches and FDA approvals. Most of the market players are engaged in manufacturing various types of breast implants offering maximum advantages with high quality. For instance, in January, 2018, Sientra, Inc. received the US Food and Drug Administration (FDA) approval of the site-change PMA supplement for its contract manufacturer “Vesta” to manufacture Sientra’s silicone gel breast implants. Moreover, in January, 2017, Allergan plc received approval from the FDA to market NATRELLE INSPIRA SoftTouch breast implants in the US. Additionally, in October 2017, Mentor Worldwide LLC announced the availability of MemoryGel Xtra breast implants in the US.
The report segments the global breast implants market as follows:
By Product
By Application
By Surface Type
By Geography