The global Breast Implants Market is estimated to be valued at US$ 1,299.9 Mn or 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 implanted under the breast tissue or chest muscle to change and improve natural breast size, shape and contours. Breast implants come in two basic forms, silicone gel-filled and saline-filled. Silicone gel-filled implants are more commonly used due to their softer, more natural feel.
Market key trends:
The increasing demand for aesthetic surgeries among the early-age population propels the market growth. According to ISAPS, the number of breast augmentation procedures grew by 11.1% between 2020-2021. Moreover, adoption of technologically advanced implants such as form stable implants that mimic natural breast behavior with movement is witnessing increasing popularity. With the rising internet usage and influence of social media, more people are becoming conscious of their physical appearances, thereby boosting the market for breast implants globally.
SWOT Analysis
Strength: Breast implants provide an effective solution for cosmetic augmentation and reconstruction after mastectomy. The breast implants offer long-term enhancement to physical appearance.
Weakness: Breast implants have safety concerns associated with them such as ruptures, implant leakage, and connective tissue diseases. There is also a risk of capsular contracture that causes hardened, misshapen breasts.
Opportunity: Growth in medical tourism owing to affordability of breast augmentation procedures in certain countries provides an opportunity. Rapid advancements in breast implant technology is enabling development of safer and natural-looking implants.
Threats: Stringent regulatory framework and approval process delays new product launches. Negative social media publicity over health concerns with breast implants poses challenges.
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 preference for aesthetic appearance and breast reconstructive procedures.
Regional analysis: North America dominates the breast implants market currently owing to increasing breast augmentation and reconstructive procedures. Asia Pacific is expected to grow at the fastest pace during the forecast period due increasing medical tourism and availability of affordable procedures in countries like Thailand, South Korea and India.
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. These players are involved in new product launches and adoption of inorganic growth strategies like acquisitions and collaborations to gain market share.
