Pune, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Breast Implants Market Size & Growth Analysis:
“According to SNS Insider Research, The Breast Implants Market Size was valued at USD 3.06 Billion in 2023 and is expected to reach USD 5.34 Billion by 2032 and grow at a CAGR of 6.67% over the forecast period 2024-2032.”
The cases of breast cancer have been increasing at a great pace worldwide. In 2022, 2.3 million women were diagnosed with breast cancer and 670,000 deaths happened worldwide as per World Health Organization data. Breast cancer occurs in every country of the world in women at any age after puberty but with increasing rates in later life. Hence the rising cases of breast cancer are driving the growth of the breast implant market.
Rising investments in new product launches by market players are fueling the growth of the market. Some of the manufacturers have leveraged this opportunity in introducing new implants to cater to such demand and increase efficiency. Mentor Worldwide LLC, got approval from the U.S. Food and Drug Administration (FDA) in January 2022 for breast implant MENTOR MemoryGel BOOST. It is only indicated for women aged 22 years old and above with breast augmentation.
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Key Players Analysis Listed in this Report are:
- Polytech Health & Aesthetics GmbH
- Allergan
- Groupe Sebbin SAS
- Sientra Inc.
- Establishment Labs S.A.
- Guangzhou Wanhe Plastic Materials Co., Ltd.
- Shanghai Kangning Medical Supplies Ltd.
- Mentor Worldwide LLC
- Laboratoires ARION
- GC Aesthetics
- Other Players
Furthermore, the market players have also been concentrating on the upgradation of breast implant procedures to ensure efficient surgery. In August 2020 GC Aesthetics Inc. announced that it had received the CE mark for its new breast delivery device (BDD) to facilitate an easy and low-touch implant insertion of high cohesive silicone implants. These factors are expected to drive the growth of the market in the coming years.
Breast Implants Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 3.06 Billion |
| Market Size by 2032 | US$ 5.34 Billion |
| CAGR | CAGR of 6.67% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | •The Increasing Demand for Aesthetic Procedures Globally is Driving the Growth of the Breast Implants Market. •The Development of Silicone Gel-Filled Implants and the Introduction of Shaped Implants have Provided Patients with Natural-Looking Results, which are Fueling the Growth of the Market. |
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Segmentation Dynamics
By end-use, in 2023 the hospital segment dominated the global market with a share of around 54% in terms of revenue owing to being increasingly preferred by patients for plastic surgeon treatment. Further, the increasing healthcare spending is leading to the establishment of hospitals in various developing regions.
Additionally, the cosmetology clinics segment is expected to grow at a significant CAGR of 8.09% during the forecast period This is because an extensive range of specialty clinics have been trying to provide cosmetic procedures to enhance the aesthetics in people. They generally lack the complex processes that come with these surgeries in hospitals.
Breast Implants Market Key Segmentation:
By Product
- Silicone Breast Implants
- Saline Breast Implants
By Shape
- Round
- Anatomical
By Application
- Reconstructive Surgery
- Cosmetic Surgery
By End-Use
- Hospitals
- Cosmetology Clinics
- Ambulatory Surgical Centers
Regional Insights
North America led the market in terms of revenue with a share of 32% in 2023 because of the rising healthcare expenditure in the U.S. on cosmetic surgical procedures associated with selecting improved appearance. In addition, the increase in breast cancer incidence in this region also fires upmarket development.
The Asia Pacific and Latin America are expected to witness substantial growth with a CAGR of 8.02% during the forecast period. It has been the result of rising disposable income in developing countries. In addition, this region has massive potential in the case of inexpensive treatments within the domain of medical tourism. Therefore, the mentioned factors are fully expected to drive the market for this region.
Recent Developments
- In October 2023: GC Aesthetics and Bimini Health Tech merged to transform breast reconstruction worldwide.
- In December 2022 – Sientra, Inc. announced that it had been granted regulatory approval from the United Arab Emirates Ministry of Health and Prevention to market its Silicone Gel Breast Implants in the country.
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Key Takeaways
- Hospitals accounted for the largest share of this market while cosmetology clinics are expected to witness a double-digit growth in 2023.
- North America, with established manufacturing and market conditions in its regions has a higher adoption technology rate than the other parts of the world followed by Europe while Asia Pacific and Latin America witnessed high growth opportunists due to a rise in economic factors and medical tourism.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Breast Implants Market Segmentation, by Product
8. Breast Implants Market Segmentation, by Application
9. Breast Implants Market Segmentation, by End Use
10. Breast Implants Market Segmentation, by Shape
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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