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The breast implants market is estimated to be valued at US$ 1,299.9 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 that has been removed due to cancer or injury. There are primarily two types of breast implants available in the market – silicone breast implants and saline breast implants. Saline breast implants are filled with sterile saltwater (saline) while silicone breast implants are filled with silicone gel. Breast implants are used for breast reconstruction procedures following mastectomy as well as for breast augmentation procedures to increase cup size.
Market Dynamics:
The increasing number of breast reconstruction and augmentation procedures being performed is a key driver for the market growth. According to the American Society of Plastic Surgeons (ASPS), around 300,000 breast augmentations and over 100,000 breast reconstruction procedures were performed in the US in 2020. Further, development of advanced breast implants like anatomical, shaped & form-stable implants that provide a more natural look & feel is also fueling the adoption. Such advanced breast implants conform more closely to the shape of a woman’s breasts. This in turn reduces capsular contracture cases and provides enhanced comfort & aesthetics.
Segment Analysis
Textile based breast implants dominate the breast implants market. Within textile based breast implants, silicone breast implants capture over 85% market share due to their life-like feel and natural weight distribution. Silicone implants provide more accurate contour and shape retention as compared to saline implants.
PEST Analysis
Political: Regulations around breast implant safety and labeling influence market dynamics. Recent FDA reviews led to product recalls and requirement of additional safety data from manufacturers.
Economic: Growth in plastic surgeries like breast augmentation drives the market. Rise in disposable income increases willingness to spend on aesthetic procedures.
Social: Changing society attitudes towards cosmetic surgeries and focus on beauty and self-confidence positively impact the industry.
Technological: Augmented reality and 3D modeling assist in pre-surgical consultation and implant selection. Trackable implants aid in monitoring product performance.
Key Takeaways
The global Breast Implants market is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period, due to increasing focus on aesthetic appearance and rising medical tourism. The North American region dominates the breast implants market led by the US which accounts for over 80% share owing to technological advancements and availability of skilled plastic surgeons. 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.
The Asia Pacific region is expected to witness fastest growth fueled by growing medical tourism sector in Thailand, India and China coupled with rising affordability. Key players are focused on developing adjunct services like post-surgery guidance and monitoring to enhance customer experience. Technological advancements in 3D modeling, big data analytics and additive manufacturing open new growth avenues by improving product design, selection and performance monitoring. The breast implants market size was valued at US$ 1,299.9 Mn in 2023 and is anticipated to reach US$ 1,846.3 Mn by 2030.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.