New York, USA, June 08, 2022 (GLOBE NEWSWIRE) -- According to Research Dive’s latest report, the global breast implant market is anticipated to rise at a stunning CAGR of 10.3%, thereby garnering a revenue of $4.9 billion by 2026. This latest report by Research Dive provides a brief outlook of the contemporary architecture of the breast implant market including its major characteristics like growth drivers, growth opportunities, restraints, and hindrances during the analysis period of 2019-2026. All the important market statistics are also provided in this report to help new market players gain insights about the market easily.
Dynamics of the Market:
Drivers: The growing aspiration among women, especially young women, to look attractive is expected to be the main growth driver of the breast implant market. Along with this, the growth in number of patients undergoing breast augmentation procedures so as to maintain body proportion is predicted to boost the market further in the forecast timeframe.
Opportunities: Increasing incidence of breast cancer across the globe is anticipated to offer numerous growth opportunities to the market in the forecast timeframe. Along with this, technological advancements in the medical field are predicted to boost the breast implant market even further.
Restraints: High procedural costs associated with breast implantation may, however, restrain the growth of the breast implant market.
Download a PDF Sample of the Breast Implant Market (Including Tables, TOC, and Figures)
Segments of the Market:
The report has fragmented the breast implant market into certain segments based on product, shape, application, end-use, and region.
Product: Silicone Sub-segment to Have the Highest Market Share
By product, the silicone sub-segment is expected to have a dominant market share and garner a substantial revenue of $4,298.7 million by 2026. The lightweight nature of the implant along with the ability to replicate natural breasts is expected to be the primary growth driver of the market. Additionally, reduction in wrinkling is expected to propagate the growth of the sub-segment even further.
Shape: Round Sub-segment to Have the Fastest Growth
By shape, the round sub-segment is expected to be the fastest growing sub-segment and grow at a CAGR of 10.6% by 2026. The availability of a diverse range of diameters and degrees of projections as well as the implant’s ability to create a proportioned breast shape are predicted to be the main growth drivers of the sub-segment. Also, the flexibility offered by this shape of implants is expected to augment the growth of this sub-segment even more.
Application: Breast Augmentation Sub-Segment to be the Most Profitable
By application, breast augmentation sub-segment is expected to have the largest market share of the breast implant market during the forecast period. Increasing number of women across the globe opting for this procedure is expected to boost the growth of this sub-segment. Additionally, short procedural duration is predicted to push the sub-segment forward.
End-Use: Hospital Sub-Segment to Flourish Immensely
By end-use, the hospital sub-segment is predicted to grow rapidly at a CAGR of 11.0% during the forecast timeframe. The majority of the rehabilitation and diagnostic services provided by hospitals is expected to help the sub-segment grow in the forecast years. Since hospitals provide a one-stop solution as compared to clinics, they are preferred by patients as far as such medical procedures are concerned. This feature is predicted to augment the growth rate of the sub-segment.
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Region: Market in North America Region to Witness Substantial Growth
By regional analysis, the breast implant market in the North America region garnered a revenue of $933.7 million in 2018 and is predicted to witness a substantial growth in the analysis timeframe. The growing adoption of breast implants and associated medical procedures by women is expected to be the primary growth driver of this sub-segment.
Prominent Market Players:
Some leading market players of the breast implant market are
- Groupe Sebbin
- Hansbiomed Co. Ltd.
- Allergan
- CEREPLAS
- Mentor Worldwide LLC
- Silimed
- GC Aesthetics
- Sientra Inc.
- Groupe Sebbin SAS
- Laboratoires Arion
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a leading position in the global market.
For instance, in April 2022, PatientFi, a global leader in patient payments, announced a partnership with Allergen Aesthetics, a global drug manufacturing company, to provide financing options for medical procedures like Natrelle breast implants for breast augmentation, BOTOX Cosmetic, DiamondGlow, etc. This partnership will help both the companies to increase its foothold in their respective markets.
Finally, the Research Dive report also summarizes many crucial aspects of the breast implant market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
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