Pune, Aug. 18, 2020 (GLOBE NEWSWIRE) -- The global breast implants market size is projected to reach USD 3.05 billion by the end of 2027. The increasing adoption of visually appealing lifestyle habits will create several growth opportunities for the companies operating in the market. Recent advancements in surgical procedures have reduced the adverse effects and subsequently aid the growth of the overall market in the coming years.
According to a report published by Fortune Business Insights, titled “Breast Implants Market Size, Share & COVID-19 Impact Analysis, By Product (Breast Implants and Tissue Expanders), By Material (Silicone and Saline), By Procedure (Breast Augmentation and Breast Reconstruction) By End User (Hospitals and Specialty Clinics), and Regional Forecast, 2020-2027,” the market was worth USD 2.76 billion in 2019 and will exhibit a CAGR of 7.2% during the forecast period, 2020-2027.
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Industry Developments:
March 2020: AbbVie Inc. announced that it has completed the acquisition of Allergan; a step that will help the company gain access to the Allergan’s exceptional portfolio.
Covid-19 Pandemic to Bring Mixed Fortunes for the Global Market
The recent coronavirus outbreak has brought mixed feelings for the healthcare sector. On one side, non-essential procedures like breast implants have been delayed, but on the other side, Covid-19 testing has risen. Although these surgeries are not essential, certain breast reduction procedures come under essential services and necessary procedures. Thus, a few companies will still benefit from the outbreak, considering the fact that most SMEs cannot function at minimal services.
Breast implants are gaining a massive popularity in urban countries across the world. The changing lifestyle habits and the desire to attain a visually appealing look or a ‘celebrity’ look in western terms is the main reason why the number of breast implant surgeries has risen in the past few decades.
Despite the risks associated with these procedures, the global figure for total breast implants continues to rise every year. There is a considerable portion of the overall women population who turn towards breast implants at an early stage in their life. The increasing number of surgical procedures across the world, coupled with the adoption of visually appealing lifestyle habits or ‘glamorous’ lifestyle habits is what makes this sector rapidly growing.
The improvements in surgical procedures and reduced side effects will contribute to the growing adoption and subsequently aid the growth of the overall market in the coming years.
The global economy is in absolute turmoil because of the COVID-19 pandemic outbreak. Some industries remain largely unaffected by the outbreak, some are thriving, but most are in doldrums. Although the healthcare industry is flourishing, certain markets within the industry are experiencing staggered growth. Wading through these troubled times is a difficult task and Fortune Business Insights™ aims at equipping your business with the most comprehensive market insights, collated and analyzed by our expert and experienced research team.
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Innovative Platforms for Surgical Procedures will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of product launches and the massive investments associated with breast implant surgical procedures have made the highest impact on the growth of the overall market. In June 2019, GC Aesthetics announced the launch of a new solution for breast implants.
The company introduced ‘Eve 4.0,’ a digital consultation solution (DCS) that is used to simplify the surgical procedures associated with breast augmentation. The platform provides a visual aid to the consumers opting for these procedures. The platform was introduced for enhancing surgical procedures for customers in Europe and Brazil.
It is observed that such innovative platforms are not a rarity in the global market thanks to the rising technological intervention in almost all parts of the world. GC’s latest surgical implant platform will not just benefit the company but will also emerge in favor of the growth of the overall market in the coming years.
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North America Likely to Emerge Dominant; Favorable Reimbursement Policies for Breast Reduction will Bode well for Market Growth
The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years.
The increasing surgical procedures associated with breast augmentation and implants, especially in the United States will emerge in favor of market growth. The favorable health reimbursement policies will also contribute to the growth of the regional market. As of 2019, the market in North America was worth 1.09 billion and this value is projected to increase at a considerable pace in the coming years.
The market in Asia Pacific will derive growth from the increasing adoption of appealing lifestyle habits and the constantly rising population in countries such as China and India.
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List of companies profiled in the Breast Implants Market Report:
- Sientra, Inc. (California, U.S.)
- GC Aesthetics (Dublin, Ireland)
- POLYTECH Health & Aesthetics GmbH (Dieburg, Germany)
- AbbVie Inc. (Illinois, U.S.)
- Mentor Worldwide LLC (California, U.S.)
- CEREPLAS (Cambrai, France)
- Establishment Labs S.A. (Alajuela, Costa Rica)
- LABORATOIRES ARION (Sophia Antipolis, France)
- Other Players
Breast Implants Market Segmentation:
By Product
• Breast Implants
• Tissue Expanders
By Material
• Silicone
• Saline
By Procedure
• Breast Augmentation
• Breast Reconstruction
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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