by The global Breast Implants Market is estimated to be valued at US$ 1411.38 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Breast implants are medical devices that are implanted under the breast tissue or chest muscle to increase breast size or to rebuild breast tissue after mastectomies. Silicone and saline breast implants are the two main types of implants used. Silicone implants have a silicone outer shell filled with silicone gel, while saline implants are made of silicone outer shell filled with sterile saltwater. Advances in breast implant technology have led to the development of anatomically designed and shaped implants to provide a more natural breast appearance. Breast augmentation surgery is becoming increasingly popular owing to rising aesthetic consciousness and growing emphasis on physical attractiveness.
Market key trends:
One of the key trends in the breast implants market is the advent of breast reconstruction procedures. Breast reconstruction procedures are performed on patients who have undergone mastectomy due to breast cancer. The objective of these procedures is to restore breast volume and symmetry. With the increasing instances of breast cancer globally, demand for breast reconstruction procedures is growing. According to the American Society of Plastic Surgeons, more than 100,000 breast reconstruction procedures were performed in 2018 in the U.S. Technological advancements are allowing plastic surgeons to achieve more natural looking and lasting breast reconstruction results through the use of 3D imaging technology and innovative breast implant designs like shaped and anatomical implants. This is expected to further drive the growth of breast reconstruction procedures over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in breast implants market is moderate as huge capital investment is required and getting regulatory approval is a lengthy process. However, new advanced products can disrupt the market.
Bargaining power of buyers: The bargaining power of buyers is low in this market as there are only a few large players dominating the market. Buyers do not have much influence on pricing due to lack of alternatives.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw material required is specialty medical grade materials and supplies with specific certifications. Suppliers can influence pricing to some extent.
Threat of new substitutes: The threat of new substitutes is low as there are limited alternatives available for breast augmentation or reconstruction. New advanced filler materials can emerge as substitutes.
Competitive rivalry: The competitive rivalry in the market is high due to presence of large multinational players. Players compete based on product quality, brand image, and customer service.
Key Takeaways
The Global Breast Implants Market Size is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period 2023 to 2030, due to increasing number of breast reconstructive procedures and rising awareness about breast aesthetics.
North America dominates the global breast implants market followed by Europe. This is attributed to growing awareness about breast aesthetics, increasing number of breast surgeries, and favorable reimbursement policies in the region. Asia Pacific is expected to exhibit fastest growth over the forecast period owing to growing medical tourism industry in the region and rising disposable income.
Key players operating in the breast implants market are Abbvie, Inc, CEREPLAS, Establishment Labs S.A., GC Aesthetics, GROUPE SEBBIN SAS, Guangzhou Wanhe Plastic Materials Co., Ltd., HansBiomed Co., Ltd., Ideal Implant Inc, Laboratoires Anios, Mentor Worldwide LLC, Polytech Health & Aesthetics GmbH, Shanghai Kangning Medical Device Co., Ltd, Sientra, Inc., and Silimed. Players are focusing on new product launches, partnerships and geographic expansions to strengthen their market positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
