In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Mentor Worldwide LLC to get approval from U.S. Food and Drug Administration for its MENTOR MemoryGel BOOST breast implant. Based on the recent study, it was stated that both surgeons and patients preferred MENTOR MemoryGel Boost breast implants since they feel like natural breasts compared to other alternative brands.
POLYTECH Health & Aesthetics GmbH to organize Breast Education Campaign to promote Breast Cancer Awareness Month. POLYTECH is committed to providing usable and educational information for patients by engaging with the patient community and promoting the importance of breast health and early diagnosis.
Breast implantation use artificial devices, known as prostheses, and is surgically inserted into your breasts. So, breast implants refer to a series of procedures that make your breasts larger. In the process, breast implants are silicone shells filled with either silicone gel or sterile salt water.
Base Year |
2022 |
Forecast Year |
2023-2033 |
CAGR |
~8% |
Base Year Market Size (2022) |
~ USD 2 Billion |
Forecast Year Market Size (2033) |
~ USD 5 Billion |
Regional Scope |
|
The global breast implants market is estimated to garner a revenue of ~ USD 5 Billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 2 Billion in the year 2022. The growth of the market can primarily be attributed to the rising inclination of women toward breast enlargement owing to breast abnormality and breast cancer in women across the globe. Based on the report published by the International Society of Aesthetic Plastic Surgery, it was noticed that the prevalence of breast augmentation spurred by 6.1% from 2017-2018.
Get more information on this report:Global breast implant market trends such as, the ongoing development of innovative products and rising production and utilization of silicon to enhance the breast size are projected to influence the growth of the market positively over the forecast period. For instance, GC Aesthetics launched Eve 4.0, a Digital Consultation System (DCS) in 2019 to offer visualization aids for patients with breast augmentation and reconstruction in Brazil and Europe. Additionally, exponential growth in global healthcare expenditure is further estimated to propel the growth of the market over the forecast period. According to the World Bank, it was stated that global health expenditure hit USD 1,202.9 per capita in 2019. Hence, all these factors are expected to push the growth of the market over the forecast period.
Rising Procedure of Breast Augmentation Across the Globe - Breast augmentation (augmentation mammoplasty) is surgery that is performed to increase the size of the breast. The procedure is conducted by placing breast implants, mostly made of silicon, under the chest muscle and breast tissues. Breast augmentation brings confidence in women by rebuilding the breast in the desired way. To avoid any pain or discomfort during the surgery, the person receiving it is kept under general anesthesia. As of 2018, about 10 million breast augmentation procedures took place across the globe.
Growing Prevalence of Breast Cancer - As per the data provided by the World Health Organization (WHO), it is observed that nearly 2.3 million women were living with breast cancer while 685,000 women lost their lives in 2020.
Increment in the Medical Tourism - Medical Tourism Association (MTA) stated that about 14 million people travel across countries to get necessary medical care.
Increasing Prevalence of Cosmetic Surgeries - In 2019, approximately 12 million plastic surgeries were performed worldwide and the number is expected to increase exponentially.
Developing Global Medical Technology - It is noticed that medical technology across the globe grew by 5.5% while the total spending on medical technology was estimated to be around USD 30 billion in 2019.
Higher Risk of Breast Implant Side-Effects – Breast implantations can leave scar tissue that distorts the shape, breast pain, infection, abnormal sensations and others. Thus, the high number side-effect cases are expected to slower the adoption rate of blast implant in the forecast period.
Expensive Procedure to Get Breast Implant
Lack of Specialty Clinics and Medical Professionals
The global breast implants market is segmented and analyzed for demand and supply by product into saline, silicon, smooth, implant, and tissues expanders, out of which, the silicon segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the higher utilization of silicon in breast implants owing to high advantages such as less scar tissue, natural-like appearance, less weight, and less probability of rippling. As of 2018, approximately 85% of breast implants were silicon.
The North America breast implants market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be ascribed to the high spending on healthcare, expansion of healthcare sector and increasing demand for breast implants in the region. For instance, in 2018, approximately 280,000 breast augmentations were performed solely in the United States. Moreover, a growing inclination toward splendid physical appearance and higher penetration of major key players in the market is further anticipated to hike the growth of the market during the forecast period.
Ans: Rising procedure of breast augmentation across the globe and the increasing prevalence of cosmetic surgeries are estimated to majorly boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023 – 2033.
Ans: Expensive procedures to get breast implants and a lack of specialty clinics and medical professionals are estimated to challenge the market growth.
Ans: The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Sientra, Inc., Establishment Labs S.A., GC Aesthetics, Pushpanjali medi India Private Limited, POLYTECH Health & Aesthetics GmbH, Medical Device Business Services, Inc., AbbVie, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, shape, procedure, end-user, and by region.
Ans: The silicon segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Submit Your Request For Proposal (RFP)
Submit RFP Buy Now Download Research Report Sample