Increase in prevalence of breast cancer is expected to drive the global breast implants market. The breast implants market is estimated to reach a market value of US$ 2,496.8 million in 2019 and it is expected to reach US$ 5,660.0 million by 2027, growing at an estimated CAGR of 10.8% over the forecast period.
Globally, increase in the breast cancer incidence and rise in market activity by the breast implant vendors are the prime factors responsible for its market growth. Late menopause, alcohol consumption, and lifestyles habits are some of the primary reasons behind increasing breast cancer incidence. According to the World Cancer Research Fund (WCRF) estimates, in 2018, there were more than 2.0 million breast cancer cases, globally, including 245,000 cases of the U.S. This growing patient volume is driving the early diagnosis of breast cancer, thereby inducing the adoption of breast implants. However, high cost breast implant surgery expected to restrain the market growth over the forecast time period. Moreover, post procedural complications may also have negative impact on the industry growth. The U.S based Food and Drug Administration (FDA) issued warning letters to the breast implant vendors, Mentor Worldwide LLC and Sientra, Inc. in March 2019. According to the FDA announcement, every company approved with silicone gel filled implant is required to undergo post approval study for the safety and effectiveness of the concerned product.
BRIMP, the Swedish Breast Implant Registry spreads awareness and information about various types of implants available to the patients. Many patients are getting to know about the implants available, it is creating a demand for the breast implants. Over the forecast period the demand for the breast implants is expected to escalate as a result of awareness programs. For instance, in 2017, the American Society of Plastic Surgeons (ASPS) statistics show a 3 percent increase in the number of breast procedures performed over the previous year in which a reported 290,467 breast augmentations were performed.
The detailed research study provides qualitative and quantitative analysis of global breast implants market. The market has been analyzed from the scope of demand as well as supply. The analysis of demand covers market revenue across regions and further also across all the major countries. The analysis of supply covers the major market players and their regional and global presence and strategies. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Global Breast implants market (US$ Million) 2015-2027, By Product
Key Findings of the Report:
Global Breast Implants Market: