Breast Implant Market - Growth, Trends, and Forecast (2019 - 2024)
NEW YORK, Feb. 21, 2020 /PRNewswire/ --
Market Overview
The major factors for the growth of the breast implant market include the rising incidence of breast cancer, an increasing number of breast augmentation procedures, and technological advancements.
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Breast cancer is currently the leading cause of cancer-related deaths in women in the world's developing regions. According to the National Cancer Institute, an estimated 252,710 women have been diagnosed with breast cancer in 2017. Furthermore, 230,815 American women were diagnosed with breast cancer in 2013. Over 3.1 million American women have been affected by breast cancer as of March 2017. According to the American Cancer Society, in 2017, an estimated 252,710 new cases of invasive breast cancer were diagnosed among women. In addition, 63,410 cases of in situ breast carcinoma were diagnosed among women. Approximately 40,610 women and 460 men died from breast cancer in 2017 and therefore, the number of breast cancer cases are expected to increase in the coming years. According to the Cancer Research UK, there are around 54,900 new breast cancer cases in the United Kingdom every year, that is around 150 per day (2013-2015). Moreover, it is estimated that the risk of an individual dying from breast cancer would increase in the coming years. Hence, the increase in breast cancer prevalence is a major factor contributing to revenue growth of the breast implant market across the world.
Scope of the Report
As per the scope of this report, breast implants are medical devices that are used to augment the size of breasts, either for cosmetic applications or reconstruction purposes, to correct a congenital abnormality. The procedure involves the usage of breast implants, in order to enhance and improve the size of the breasts. There is an increase in the demand for breast augmentation techniques, globally, that helps in fueling the demand for breast implants in the market.
Key Market Trends
Silicone Implant is the Segment by Drug Class is expected to be Fastest Growing Segment Over the Forecast Period
Silicone gel-filled implants are the silicone shells filled with a plastic gel (silicone). Silicone implants can be inserted through an axillary incision but are not ideal when compared to other locations. Breast implant manufacturers charge around USD 1,000 more for silicone implants than they do for saline. Additionally, it is recommended that women with silicone implants have an MRI three years after their initial surgery and every two years after that. This is the only way to detect ruptures in the implant, which is often not covered by health insurance policies. The silicone gel-filled breast implants are approved for breast augmentation in women of age 22 or older and for breast reconstruction in women of any age. They are also used in revision surgeries, in order to correct or improve the result of an original surgery. Over the last 20 years, significant advances have been made to silicone gel implants. In fact, now surgeons are implanting the 7th and 8th generation of silicone breast implants. The newest silicone implants have a slightly higher fill (96% fill versus the previous generation's 85% fill) and more cross-linking of the silicone molecules, increasing the stiffness or cohesiveness of breast implants. These advances have helped in the growth of silicone breast implants.
North America is Expected to Dominate the Market
North America is found to hold a major share for the Breast Implant Market and is expected to show a similar trend over the forecast period, without significant fluctuations. The major factors contributing to the growth of the market in the United States is the large demand for breast augmentation, coupled with the greater cost of the devices. Breast augmentation is the most popular cosmetic procedure that was being performed in the country, with around 290,467 patients opting for the surgery, according to new statistics released by the American Society of Plastic Surgeons. According to the American Society of Plastic Surgeons, in 2017 there were around 27,507 breast implant removals (augmentation patients only) performed. Thus, such a huge number of cases is expected to drive the growth of the breast implant market. For example, as per the Breastcancer.org, estimates in 2019, 268,600 new cases of invasive breast cancer are expected to be diagnosed in women along with 62,930 new cases of non-invasive breast cancer, in the United States. According to the American Society of Plastic Surgeons, in 2016, the average cost of breast augmentation surgery was USD 3,719 in the country. Thus, owing to the all above-mentioned factors the market is expected to witness high growth over the forecast period.
Competitive Landscape
The market studied is a moderately consolidated market owing to the presence of small and large market players. Some of the market players are Allergan Plc, Establishment Labs SA, GC Aesthetics, Groupe Sebbin SAS, Laboratories Arion, Mentor Worldwide LLC (a Subsidiary of Johnson & Johnson), POLYTECH Health & Aesthetics GmbH, Shanghai Kangning Medical Supplies Ltd, and Sientra Inc.
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