New York, USA, Dec. 27, 2022 (GLOBE NEWSWIRE) -- As per Research Dive’s latest report, the global breast implant market is expected to garner a revenue of $4,453.0 million by 2031 and grow with a stunning CAGR of 9.2% in the 2022-2031 timeframe. This latest report, published 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 2022-2031. All the important market figures are also provided in this report to help new entrants gain insights about the market easily.
Dynamics of the Market
Drivers: In recent years, a lot of technological developments have taken place which have improved the accuracy of breast implant procedures. These technological developments are predicted to boost the breast implant market in the forecast period. Along with this, growing incidence of breast cancer across the globe is predicted to help the market grow in the forecast period.
Opportunities: Growing awareness among women regarding breast augmentation is anticipated to offer numerous growth opportunities for the market in the forecast period. Additionally, increasing global prevalence of breast cancer is expected to be the major factor behind the growth of the market in the forecast period.
Restraints: However, despite various growth opportunities, risk of BIA-ALC that is associated with breast implant procedures is predicted to be a major restraint in the full-fledged growth of the breast implant market.
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Impact of Covid-19 on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The breast implant market has been no exception to this phenomenon. The pandemic put a lot of strain on the healthcare sector. As a result, all the manpower in hospitals, clinics, and other medical institutions was employed in treating Covid-19 patients and tackling the pandemic. As a result, all the “non-essential” medical procedures like cosmetic surgeries including breast implant procedure got delayed. This general deferment across the globe for “non-essential” medical procedures resulted in decline in the growth rate of the market.
Segments of the Market
The report has divided the breast implant market into certain segments based on type of product, shape, texture, application, end use, and region.
Product: Silicone Implants Sub-segment to be Highly Dominant
By product, the silicone implants sub-segment is predicted to have a dominant market share by 2031. Since the filling consistency of silicone implants is more viscous or thick than that of saltwater saline implants, there is a growing preference for silicone implants. This increased preference is expected to help the market grow in the forecast period.
Shape: Round Sub-segment to Flourish Immensely
By shape, the round sub-segment is anticipated to be the highly profitable one by 2031. The availability of round breast implants in an extensive range of diameters and degrees of projection is expected to help the sub-segment register substantial growth in the forecast period.
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Texture: Smooth Sub-segment to Witness Significant Growth
By texture, the smooth sub-segment of the breast implant market is predicted to have a significant market share by 2031. Technological advancements in silicone technology and plastic surgery method are expected to help the market grow in the forecast period.
Application: Breast Augmentation Sub-segment to Have the Highest Market Share
By application, the breast augmentation sub-segment is anticipated to be a highly lucrative one by 2031. A significant increase in the number of women choosing this procedure is expected to help the sub-segment register substantial growth in the forecast period.
End Use: Clinics Sub-segment to be the Highly Lucrative
By end use, the clinics sub-segment is predicted to have a dominant market share by 2031. The rise in the number of clinics with a growing number of plastic surgeons is expected to help the market grow in the forecast period.
Market in the North America Region to be Most Profitable
By regional analysis, the breast implant market in North America region is expected to witness immense growth by 2031. The rise in the number of breast augmentation and reconstruction procedures in this region is predicted to be the main growth driver of the market in the forecast period.
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Prominent Market Players
Some leading market players in the breast implant market are
- Groupe Sebbin
- Laboratoires Arion
- CEREPLAS
- Allergan
- Sientra Inc.
- Silimed
- Mentor Worldwide LLC
- Groupe Sebbin SAS
- GC Aesthetics
- Hansbiomed Co. Ltd.
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a leading position in the global market.
For instance, in February 2022, CELLINK, a leading biotechnology company, announced that it was collaborating with CollPlant, a regenerative medicine company. The collaboration will result in the integration of the regenerative medicine techniques of CollPlant and the bioprinting technologies of CELLINK, which will help the companies to increase their footprint in the market.
Finally, the Research Dive report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about Breast Implant Market:
- Why do People Get Breast Implants? And What are the Risks Associated with it?
- How can Nonsurgical Breast Lift Become a Beneficial Choice for Women Not Willing to Opt for Breast Implants?
- Global Breast Implant Market to Perceive Widespread Growth with Rising Prevalence of Breast Cancer
