Breast Implant Market is Expected to Reach $2,584.6 Million by 2026

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OVERVIEW

Breast Implant Market is valued at USD XX million in 2019 and is expected to reach USD 2,584.6 million by the end of 2026.

Bizlytik analysts forecast the global Breast Implant market to grow at a CAGR of 5.7% during the forecast period, according to their latest market research report.

The breast implant is a medical device implanted under the breast tissue to increase breast size, to replace after breast cancer surgery or trauma, and failed to develop properly because of a severe breast abnormality. The FDA has also approved the implant to correct or improve the result of previous surgery. There are two types of breast implants, including Silicone Breast Implants and Saline Breast Implants.

According to the National Center for Health Research, more than 310,000 women and teenagers in the United States underwent breasts enlarged surgery with silicone or saline implants in 2018. Around 400,000 women in the United States get breast implants each year, including 300,000 for cosmetic reasons and 100,000 for reconstruction after mastectomies performed to treat breast cancer. Around 10 million women had breast implants worldwide in 2018. Breast reconstruction is a surgical procedure that restores the shape of breast after mastectomy surgery that removes breast to treat breast cancer. Breast reconstruction uses breast implants like silicone devices filled with silicone gel or saltwater (saline) to reshape breasts. Hence, increasing breast cancer cases might increase the demand for Breast Implant globally. For instance, According to the American Institute for Cancer Research, breast cancer is the second most common cancer globally. There are around 2 million new cases of breast cancer in 2018. According to the Cancer Research UK, there are around 55,200 new breast cancer cases in the UK every year.

Silicone Breast Implants and Saline Breast Implants are covered in the Type segment of the market scope, the application segment is further categorized into Reconstructive Surgery and Cosmetic Surgery and the End user segment is divided into Hospitals, Cosmetology Clinics, Others. The report covers value of the global market by Type, Application and End User.

The market value of Silicone Breast Implant was USD XX Million in 2019, and it is expected to reach USD XX Million by 2026, growing at a CAGR of 5.8% during 2020-2026. The adoption of silicone breast implants over saline breast implant, and regulatory approval for manufacturing and commercializing silicone breast implants would propel the growth of the segment.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global Breast Implant Value figures. While North America is further categorized into enhancing United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America Breast Implant market was USD XX Million in 2019, and it is predicted to reach USD XX Million by 2026, growing at a CAGR of 6.3% during the forecast period. The increasing number of breast augmentation procedures in the U.S and increasing number of cancer cases would improve the growth prospects of the market.

Major players operating in the Breast Implant industry include Allergan Plc, Mentor Worldwide LLC, Sientra Inc., GC Aesthetics PLC, POLYTECH Health & Aesthetics GmbH, HansBiomed Co., Ltd, Ideal Implant Incorporated, Guangzhou Wanhe Plastic Materials Co., Ltd., Establishment Labs S.A., Groupe Sebbin SAS.

Formation of strategic collaborations, regulatory approval to the companies for manufacturing and commercializing of breast implant, and technological advancement are the few business strategies adopted by the key companies, with a focus on maintaining a competitive advantage over others. The companies are focused on expanding business activities on a global scale.