New York, USA, June 02, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global breast implant market is projected to register a revenue of $4.9 billion at a CAGR of 10.3%, increasing from $2.223 billion in 2019 during the forecast period, 2019-2026. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Dynamics of the Market
Drivers: Popularity of breast augmentation and cosmetic surgeries among women in the glamor world is one of the major factors behind the growth of the global breast implant market. Craze for maintaining body proportion is another factor of this growth.
Surge in the breast cancer cases among the young women population leading to consequential mastectomy is another driving factor of the market.
Technological advancements and innovative design upgradation in breast implant surgeries is another stimulator of the growth of the market.
Restraints: High procedural cost and post-surgery complications are the major restraining factors of the market.
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Segments of the Market
The report has divided the market into different segments based on product, shape, application, end-use, and regional analysis.
Product: Silicon Breast Implant Sub-Segment Expected to be the Most Lucrative
Silicone sub-segment is expected to generate a revenue of $4,298.7 million by 2026, at a CAGR of 10.2% by the end of 2026. Silicon breast implant is preferred by most of the women as it replicates the natural breast. This type of implant reduces the early chances of getting wrinkles. These are the factors enhancing the growth of the market segment.
Shape: Round Shaped Breast Implant Segment Expected to be the Most Profitable
The round breast implant sub-segment garnered a revenue of $1,845.2 million in 2018 and expected to grow at a CAGR of 10.6% during the forecast period. The round breast implant process gives the breasts a proportioned shape. Moreover, the products used in this type of breast implant provide great flexibility and features. These are the reasons behind the growth of the market segment.
Application: Breast Augmentation Sub-Segment Predicted to Earn the Highest Revenue
The breast augmentation segment is predicted to garner the highest revenue during the forecast period. The main reasons behind this estimation are the features such as short duration of the surgery and less complications.
End-Use: Clinics Sub-Segment Expected to Garner the Highest Market Share
The clinics sub-segment is expected to hold the highest market share during the analysis period. The breast implant surgeries are performed in a more efficient way in a very short duration of time. This is the main reason enhancing the growth of the segment of the market.
Region: North America Expected to Hold the Highest Market Share
North America regional market led the industry with a revenue of $933.7 million in 2018 and further predicted to dominate the market in upcoming years. North America countries are recording an alarming rate in the breast cancer cases in recent years. Apart from this, the aspiring models and actors are opting for breast surgeries to look more attractive. These are the major factors encouraging the growth of the market.
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Key Players of the Market
The most prominent players of the global breast implant market include -
- GC Aesthetics
- Allergan
- Mentor Worldwide LLC
- Groupe Sebbin
- Sientra Inc.
- Laboratoires Arion
- CEREPLAS
- Silimed
- Hansbiomed Co. Ltd.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in May 2021, GC Aesthetics, Inc. (GCA), a privately-held medical technology company providing aesthetic solutions for global healthcare markets, announced the launch of PERLE™, its next generation of breast implants.
PERLE™ is a ground-breaking line of polished breast implants that features a proprietary surface technology (BioQ™), an enhanced version of the safety features, and GCA's industry-leading gel technology (Emunomic™ Breast Tissue Dynamic Gel) that have reinforced GCA's long-term excellent safety record.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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