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Breast Implant Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

·5-min read
ReportLinker
ReportLinker

The global breast implant market was valued at USD 1,660. 38 million in 2021. It is projected to reach USD 2549. 81 million by 2027, registering a CAGR of 7. 62% during 2022-2027. The COVID-19 outbreak had a short-term impact on the breast implant market, primarily in the initial phase of the pandemic when the whole world went into lockdown and other travel restrictions to curb the spread of infection due to the SARS-CoV-2 virus.

New York, April 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Breast Implant Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06271879/?utm_source=GNW
Due to restrictions and lockdown, the ongoing and scheduled surgical procedures were delayed or canceled, which negatively impacted the breast implant market. However, the interest and demand for beauty procedures increased during the COVID-19 pandemic among women in the United States, including breast implant and augmentation. 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 COVID-19 pandemic and grow in the future.

The rising prevalence of breast cancer worldwide is one of the significant factors for the growth of the breast implant market. According to GLOBOCAN 2020, breast cancer surpassed lung cancer and became the most diagnosed cancer worldwide. According to World Health Organization, in 2020, around 2.3 million women were diagnosed with breast cancer, and 685,000 of them died globally. Also, about 7.8 million women have been diagnosed with breast cancer over the last five years. While, in Asian women, the breast cancer prevalence was so high that it accounted for 22.9% of the total cancer cases in women in 2020. Another factor that is expected to boost the growth of the studied market is the increasing inclination and awareness of women worldwide toward breast augmentation and reconstruction procedures for beauty enhancement. For example, as per the 2019 International Society for Aesthetic Plastic Surgeons (ISAPS) statistics, there were about 1,795,551 breast augmentation procedures worldwide in 2019, which were more than any other performed aesthetic surgery.

Additionally, the market players in the area are continuously working toward better and efficient solutions and evolving the life of available products through new product launches, collaborations, and mergers and acquisitions, which will also complement the growth of the breast implant market. For instance, in November 2019, Evonik and BellaSeno GmBH announced a partnership agreement to develop innovative breast implant technology using RESOMER bioresorbable polymer. However, the post-surgery complications and risks associated with the breast implant, along with the high cost associated with the implant, are the major restraining factors for the growth of the breast implant market. There is a high misconception about post-surgical complications and risks from breast implants in women.

Key Market Trends

Silicone Implant is Expected to be Occupy Major Share in the Market over Other Types during the Forecast Period

Silicone implants are silicone shells filled with a plastic gel (silicone) that resembles human fat because of its viscosity, and they are used for breast augmentation or breast reconstruction. Compared to other types of implants, they feel like natural breast tissue, which is the primary reason why they are the preference of the majority of people seeking breast implants compared to other kinds. Silicone breast implants are approved for breast augmentation in women of age 22 or older and for breast reconstruction in women of any age by the US Food and Drug Administration.

Also, new technological advancements and improvements in the existing products of silicone breast implants for breast augmentation and reconstruction are expected to boost the growth of the breast implant market. For instance, in May 2021, GC Aesthetics Inc., a silicone breast implant manufacturer, announced the launch of a next-generation breast implant called PERLE, a smooth breast implant with the proprietary surface technology called BioQ. Thus, due to the high demand for silicone-based breast implants, the market is expected to grow during the forecast period.

North America is Expected to Dominate the Market over the Forecast Period

North America holds a significant share of the breast implant market. It is expected to show a similar trend over the forecast period, mainly due to the high demand for breast augmentation surgeries due to several entertainment industries in the region and self-awareness among women. In North America, the United States is expected to hold the largest market for breast implants in the region during the forecast period.

The demand for cosmetic surgeries and procedures in the United States is very high among women, which is one of the significant factors for the growth of the breast implant market in the region. For instance, according to the 2020 report of the American Society of Plastic Surgeons, breast augmentation was one of the top five cosmetic surgical procedures performed in 2020 in the United States. Moreover, the total number was 193,073 breast augmentation procedures in 2020. In addition, the increasing prevalence of breast cancer in North America will also complement the growth of the breast implant market in the region. As per the GLOBOCAN 2020 report, the new breast cancer cases in the United States, Canada, and Mexico were 253,465, 28,026, and 29,929, respectively, in 2020. Therefore, North America is expected to hold a significant market share in the breast implant market during the forecast period.

Competitive Landscape

The breast implant market is moderately competitive due to the presence of small and large market players who offer a range of implants for breast augmentation, reconstruction, or other cosmetic procedures and are actively involved in enhancing their offering in the market. Some of the market players are AbbVie Inc. (Allergan PLC), Establishment Labs SA, GC Aesthetics, Groupe Sebbin SAS, Laboratories Arion, Johnson & Johnson (Mentor Worldwide LLC), and Polytech Health & Aesthetics GmbH.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06271879/?utm_source=GNW

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