Global Breast Implants Market will Expand at a CAGR of 4.1% by 2024
The global breast implants market is anticipated to register a CAGR of 4.1% during the forecast period 2016–2024. In a new report titled “Breast Implants Market: Global Industry Analysis and Forecast, 2016–2024”, Persistence Market Research analyzes the factors and trends impacting the growth of the global breast implants market during the aforementioned period.
Greater emphasis on physical appearance and rise in global disposable per capita income of women are the key factors expected to boost the growth of the global breast implants market during the forecast period. Other prominent growth drivers are a growing prevalence of breast cancer and the availability of an expanded product line with premium pricing leading to greater sales. However, factors such as increased risk of developing serious complications including deflation, capsular contracture, infection, and breast and nipple sensitivity; and high costs of the implant procedure are expected to restrain the growth of the global breast implants market over the forecast period.
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The global breast implants market has been segmented on the basis of Product Type (Silicone Breast Implants, Saline Breast Implants); Shape (Round Breast Implants, Anatomical Breast Implants); Application (Cosmetic Surgery, Reconstructive Surgery); End User (Hospitals, Cosmetology Clinics); and Region (North America, Latin America, Europe, Asia Pacific, and MEA). The Silicone Breast Implants product type segment is expected to account for 90.4% revenue share of the global breast implants market by 2016 end. The Round Breast Implants shape segment is anticipated to reach a market valuation of US$ 1,225.6 Mn by the end of 2024, registering a CAGR of 4.2% over the forecast period. The Cosmetic Surgery application segment is estimated to hold 79.4% revenue share of the global breast implants market by the end of 2016. The Hospitals end user segment is projected to account for 64.0% revenue share of the global breast implants market by the end of 2016. The Hospitals segment is expected to emerge as the most attractive end user segment in the global breast implants market as women increasingly prefer being treated by a plastic surgeon in hospitals rather than cosmetic clinics.
Among regions, the North America breast implants market is estimated to represent absolute $ opportunity of US$ 20.31 Mn in 2023 over 2022. The North America market is anticipated to register a CAGR of 4.0% during the forecast period. The Asia Pacific market is slated to witness high market growth in terms of revenue owing to a rapidly ageing baby boomer population and rising disposable income. However, the breast implants market in the MEA region is likely to witness restricted growth owing to a lack of awareness and other restrictions prevalent in the region. The Latin America breast implants market is projected to register a CAGR of 4.3% during the forecast period. Growing medical tourism in Latin American countries such as Brazil and Mexico is driving the growth of the global breast implants market.
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The report on the global breast implants market profiles some of the leading market players dominating the global breast implants market. The companies featured in the report are Allergan Plc., Mentor Worldwide LLC., GC Aesthetics Plc., Sientra Inc., Groupe Sebbin SAS, Polytech Health & Aesthetics GmbH, Establishment Labs S.A., HansBiomed Co. Ltd., and CEREPLAS. These companies are primarily focused on enhancing their product portfolio through strategic investments in technology research and development initiatives and are focusing on the introduction of innovative and cost-effective treatment procedures in order to gain higher market share and to strengthen their respective positions in the global breast implants market.
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