New York, USA, Oct. 29, 2020 (GLOBE NEWSWIRE) -- A new report by Research Dive states that the global breast implant market is set to grow at a CAGR of 10.3% and is projected to garner a revenue of $4.9 billion during the period of forecast from 2019 to 2026. The global market is segmented on the basis of shape, product, end use, application, and region. The report delivers in-depth insights on opportunities, vital segments, restraints, drivers, and prominent players of the global market. Our analysts stated that the growing prevalence of breast cancer and rise in number of breast augmentation processes are significant factors boosting the growth of global breast implant market. Furthermore, rise in improvements in design for breast transplants and substantial growth in technological advances are expected to create growth opportunities during the forecast period. However, the increasing implications post-surgeries and high costs associated with implantation procedures is predicted to hinder the market growth in the coming years.
Silicone Implants to Dominate the Market
Based on the product, the global breast implant market is segmented into saline and silicone implant. The silicone implant segment accounted for $1,978.6 million in 2018 and is estimated to subjugate the market during the forecast period. This segment is expected to rise at 10.2% CAGR by 2026 mainly because it is lightweight and to it has an ability to replicate the natural breast. On the other hand, the saline implant market is projected to experience a significant growth at a CAGR of 11.2% by the end of 2026. This growth is attributed to growing requirement for smaller incisions and low costs of saline implants.
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Round Shaped Implants to be Most Preferred
On the basis of shape, the breast implant industry is segmented into anatomical and round shape. The market size for round breast implant was $1,845.2 million and 2018 and is expected to grow impressively during the forecast period at a CAGR of 10.6%. This growth is majorly owing to its ability to accurately arrange for the creation of proportioned breast shape and also these products are available in wide ranges of degrees and diameters projections. On the other hand, the anatomical breast implants segment is estimated to grow at a CAGR of 8.5% in the projected timeframe. These implants are used for balancing breastfeeding. Asymmetries, and restoration of breast volume.
Breast Augmentation Segment to be Most Lucrative
Based on the application, the global breast implant industry is bifurcated into breast reconstruction and breast augmentation. The breast augmentation segment subjugated the market in 2018 and is anticipated to experience a rapid growth during the forecast period. This is mainly owing to significant rise in demand for this procedure by women as less complications and short procedural duration is involved. Along with breast augmentation, the breast reconstruction segment is anticipated to expand at a CAGR of 10.7% during the period of forecast.
Clinics Segment to be Most Profitable
On the basis of end use, the breast implant market is classified into clinics, hospitals, and others. The clinics segment accounted for $1,022.6 million in 2018 and is expected to rise at a robust rate during the forecast period. The growing number of plastic surgeons and increasing number of private clinics is expected to help the clinics end-use segment to grow exponentially by 2026. Along with clinics, the hospitals segment is predicted to witness profitable growth and grow at 11.0% CAGR during the period of forecast.
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North America Region to Hold Significant Market Share
Based on the region, the global industry is segmented into North America, LAMEA, Asia Pacific, and Europe. The North America market for breast implant held a dominant position in 2018 with over $933.7 million revenue. This is mainly owing to the rising number of breast augmentation processes in this region. On the other hand, the LAMEA market is projected to witness a growth rate of 9.5% until 2026 owing to presence of strong openness amongst people regarding plastic surgery.
Prominent Industry Players
Some of the key players functioning in the global breast implant industry include -
- Groupe Sebbin
- Mentor Worldwide LLC
- Allergan
- GC Aesthetics
- Sientra Inc.
- Laboratoires Arion
- Hansbiomed Co. Ltd.
- Groupe Sebbin SAS
- CEREPLAS
- Silimed
These players are adopting several strategies such as acquisitions and novel product development to hold a strong position in the global market. Click Here to Get Absolute Top Companies Development Strategies Summary Report
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