NEW YORK, May 30, 2022 (GLOBE NEWSWIRE) -- The global mastopexy market size is projected to arrive at a value of around USD 2,175 Million by 2030, with a CAGR of above 5.8% from 2022 to 2030.
According to the Aesthetic Society Organization, a mastopexy (breast lift) is an aesthetic operation that elevates or repositions loose, drooping breasts while also improving the shape and size of the breasts. Thousands of women have effective breast lift procedures each year.
The surge in medical tourism fuels the global mastopexy market
The surge in medical tourism is one of the factors driving the market growth. In a developed country, the cost of medical treatment is exorbitant. Although the treatments are thought to be of high quality, the operations are thought to be on the pricey side. In addition, the key healthcare products are relatively expensively priced. Medical tourism has provided a way for people who cannot afford to wait in their home country for treatment to circumvent huge lines by traveling abroad for treatment. As a result, many people rely on medical tourism and travel overseas to nations that offer procedures instantly in order to save time and prevent aggravating their medical difficulties. Furthermore, several governments are concentrating on encouraging health and wellness tourism in their own countries through various tactics. As a result, strong government backing is expected to promote market expansion.
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COVID-19 Impact on Mastopexy Industry
The unprecedented effect of the COVID-19 pandemic and its impact on the global economy has created havoc on various businesses due to significant ambiguity in the prices of goods for medical and industrial applications, along with increased variability in supply chain and manufacturing productivity. The COVID-19 outbreak that has swept the globe has had a significant impact on the mastopexy business. The COVID 19 epidemic has also harmed the key medical tourism industry, including prominent medical tourism destinations like Thailand, Malaysia, India, China, and other growing countries.
The high cost of mastopexy procedures could hamper the growth
A mastopexy operation may be more expensive than a breast implant. According to 2020 figures from the American Society of Plastic Surgeons, the average cost of a breast lift is more than $5,000. This average cost is only a portion of the entire cost; anesthesia, operating room facilities, and other related fees are not included. The charge for breast lift surgery may be determined by the surgeon's experience, the type of operation done, and the geographic location of the practice. Taking all of these factors into account, the cost of a mastopexy surgery could reach US$ 12,000.
Increased expenditure on cosmetic plastic surgeries is one of the trends in the mastopexy market
According to the American Society of Plastic Surgeons (ASPS), citizens of America spent more than US$ 16.5 billion in 2018 on cosmetic plastic surgery and minimally invasive procedures. Among them, the costliest procedures were breast augmentation and breast reduction. In 2018, breast augmentation procedures performed were 313,735, whereas the breast reduction procedure accounted for 43,591.
The rising female geriatric population is directly proportional to the increasing mastopexy procedures
In 2020, the elderly population accounted for more than 13% of the global population, with 70% of these people living in developing countries. By 2025, there will be 604 million old women in the world, with 70% of them living in developing countries and 70% in rural regions. The tissue and structure of women's breasts change as they age. This is due to changes in reproductive hormone levels induced by the natural aging process. As a result of these changes, the breasts of aged women begin to lose firmness and fullness.
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Mastopexy Market Segmentation
The global mastopexy market has been segmented based on type, end-user, and geography. Based on the type, the market is divided into benelli lift, crescent breast lift, benelli-lollipop lift, and full mastopexy. Among them, the full mastopexy segment generated the largest mastopexy market revenue, whereas the benelli lift segment attained the fastest growth rate throughout the forecast period 2022 – 2030.
By end-user, the market is split into specialty clinics and hospitals. In 2021, specialty clinic end-users occupied the majority of the mastopexy market share. In addition, specialty clinics are expected to attain the fastest growth rate in the coming years.
Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global mastopexy market. Based on our analysis, the North America region gathered a significant amount of share in 2021. The increased expenditure on aesthetic procedures, growing number of the elderly population, and presence of leading cosmetic procedures professionals are fueling the North America mastopexy market growth. Meanwhile, the Asia-Pacific region is expected to attain the fastest growth rate in the coming years due to the rising number of cosmetic procedures in countries such as Thailand, Malaysia, and Australia. Furthermore, the rising governments spending on healthcare infrastructure, growing awareness of women’s welfare, and rising disposable income are secondary factors that are driving the market growth.
Major Players
Key players covered globally in the ALLERGAN, Cynosure, Inc., Galderma, GC Aesthetics, Mentor Worldwide LLC, POLYTECH Health & Aesthetics, LIPOELASTIC, Lumenis, Sientra, Inc., SOLTA Medical, and Syneron Medical.
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