Hyderabad, March 30, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Breast Implant Market - (2023 – 2028)," the market is expected to register a CAGR of 7.62%. The interest and demand for beauty procedures, including implants and augmentation, increased during the pandemic among women in the United States. For instance, according to the April 2021 survey report by the American Society of Plastic Surgeons, 11% of the surveyed women were more inclined toward cosmetic surgery or non-surgical procedures than before the pandemic. Therefore, the market is expected to recover soon from the impact of the pandemic and grow in the future.
What is driving the growth of the Breast Implant Market?
New technological advancements and improvements in the existing products of silicone breast implants for breast augmentation and reconstruction are expected to boost the market's growth. For instance, in May 2021, GC Aesthetics Inc., a silicone breast implant manufacturer, announced the launch of a next-generation implant called PERLE, a smooth breast implant with a proprietary surface technology called BioQ.
- The silicone implant segment is expected to dominate the market during the forecast period due to the rising demand for silicone implants.
- These implants are silicone shells filled with a plastic gel (silicone) that resemble human fat because of viscosity and are used for breast augmentation or reconstruction.
- Compared to other types of implants, they feel like natural breast tissues, which is the primary reason they are preferred by most people seeking implants compared to other kinds.
- Silicone breast implants are approved for breast augmentation in women aged 22 years or older and for breast reconstruction in women of any age by the US Food and Drug Administration.
Thus, due to the high demand for silicone-based breast implants, the market is expected to grow during the forecast period.
How is the growth being addressed?
North America accounts for a sizable portion of the breast implant market. During the forecast period, it is expected to follow a similar pattern. This is primarily due to the high demand for breast augmentation surgeries caused by several regional entertainment industries and women's self-awareness. During the forecast period, the United States is expected to have the region's largest market share of breast implants.
Additionally, the rise in product approvals by various regulatory organizations is expected to contribute to the market's growth. For instance, in January 2022, Mentor Worldwide LLC received the US Food and Drug Administration for the MENTOR Memory Gel BOOST, a breast implant for breast augmentation in women.
Therefore, North America is expected to hold a significant market share in the breast implant market during the forecast period.
Which are the key players in the Breast Implant Market?
The breast implant market is moderately competitive due to the presence of small and large market players.
- Establishment Labs SA
- GC Aesthetics
- Laboratories Arion
- Groupe Sebbin SAS
- AbbVie Inc.
- Silimed
- Sientra Inc.
- Cereplas
- HansBioMed
- Polytech Health & Aesthetics GmbH
- Johnson & Johnson (Mentor Worldwide LLC)
Recent developments in the Breast Implant Market:
- In October 2022, GC anesthetics received CE approval for the micro-textured anatomical breast implant LUNA xt, which was approved under the new European Medical Device Regulation (MDR).
- In June 2022, Coll Plant announced the initiation of a study in large animals for its 3D bio-printed regenerative breast implant program, addressing the demand for breast reconstruction.
In a nutshell, the Mordor Intelligence Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/breast-implant-market
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