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Breast Implants Market Overview
In the coming years, the breast implants market is projected to observe monumental growth, as a result of the increasing focus on appearance, rising incidence of breast cancer, easy availability of such products, escalating volume of procedures for breast augmentation, and surging disposable income.
Saline and silicone implants are the two types of products available, of which silicone implants currently occupy the larger breast implants market share. This is due to the fact that they give a more natural look and feel and are also lightweight. Further, their size and shape can be adjusted during surgeries, and they lead to less rippling and wrinkling, which increases their popularity. In the coming years, saline implants are projected witness significant growth, as they are cost-effective and require smaller incisions during procedures.
Such products come in anatomical or round shapes, of which the round variants accounted for the larger breast implants market size, historically. This is because they result in soft, round, and nicely proportioned breasts, are available in an array of diameters, offer a range of projections, and can fit women of various body types and builds. Products with an anatomical shape are predicted to witness faster progress in the near future, as they provide the breasts with a firmer and fuller look. Further, they are used to replace the mammary tissue lost during breast feeding.
Breasts implants are majorly used for reconstructive and cosmetic procedures, with the cosmetic surgery application leading the global breast implants market in the past. This was due to the growing number of females opting for cosmetic breast augmentation surgeries, as they are relatively short and result in few complications. As per the American Society of Plastic Surgeons, 313,735 breast augmentation procedures took place in the U.S., in 2018, increasing by around 4% from the previous year.
The major end users in the breast implants market are ambulatory surgery centers (ASC), aesthetic clinics, and hospitals. During the historical period, hospitals generated the highest revenue in the industry, due to the fact that such healthcare centers are better equipped to perform surgeries than others. With the rise in the number of women opting for breast reconstruction and augmentation procedures and the prevalence of breast cancer rising, the volume of breast surgeries also grew in hospitals. Additionally, such places provide higher-quality post-operative care and can better deal with complications.
Around the world, North America has been the largest breast implants market, owing to the existence of established manufacturers of such products, the demand for which is continuously on the rise. Within the region, the U.S. was the higher revenue generator, due to the high volume of surgeries performed for breast enhancement, launch of improved products, advanced healthcare infrastructure, growing incidence of breast cancer, and increasing awareness on such procedures.
In the coming years, Asia-Pacific (APAC) would experience progress at the highest CAGR in the breast implants market, as a result of the expanding medical tourism sector, rising healthcare spending, and increasing breast cancer prevalence. Additionally, more people are becoming aware of breast cancer and the treatments available, and these factors, combined with the entry of global players, are expected to drive the progress of the market in the region.
Breast Implants Market Dynamics
One of the major breast implants market growth drivers is the increasing prevalence of breast cancer. The World Health Organization (WHO) says that each year, the condition is found in 1.2 million women around the world. Further among all cancers, it carries the highest female mortality rate, claiming the life of 627,000 women in 2018. Moreover, as per the U.S. National Cancer Institute, around 12.8% of all women in the country will be diagnosed with this oncological condition at some point in their life.
Breast Implants Market Competitive Landscape
The major players in the global breast implants market are rigorously pursuing acquisitions and product approvals to better their position. For instance, in 2017, Keller Medical Inc., a manufacturer of medical devices, including surgical devices which are used with breast implants, was acquired by Allergan PLC. With this acquisition, Allergan successfully widened its portfolio of breast implants.
The key breast implants market players include Establishments Lab S.A., Mentor Worldwide LLC, Sientra Inc., POLYTECH Health and Aesthetics GmbH, CEREPLAS, GC Aesthetics, Guangzhou Wanhe Plastic Materials Co. Ltd., and Laboratories Arion.