Breast Implants Market Expected to Expand at 5.4% CAGR through 2019-2027
According to a new market research study titled ‘Breast Implants Market to 2027 – Global Analysis and Forecasts by Product, Applications, and Surface Type. The global breast implants market is calculated to account for US$ 2,338.6 Mn by 2027 as compared to US$ 1,475.7 Mn in 2018, growing at a CAGR of 5.4% during the forecast period from 2018 to 2027. The report highlights the trends prevalent in the global breast implants market and the factors driving the market along with those that act as restraints to its growth.
The global breast implants market is a matured market in the developing countries as well as developing economies worldwide. According to 2016 statistics from the American Society of Plastic Surgeons, the average cost of breast implant surgery is US$ 3,719. The prices for breast implant surgery significantly vary, based on surgeon’s experience, the type and cost of breast implants used and the geographic office location.
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Company Profiles
- Allergan plc.
- Mentor Worldwide LLC (J&J)
- GC Aesthetics
- Sientra, Inc.
- POLYTECH Health & Aesthetics GmbH
- Ideal Implant Incorporated
- Silimed
- Group Sebbib SAS
- Guangzhou Wanhe Plastic Materials Co., Ltd
- HANSBIOMED CO. LTD
The market for breast implants is driven by new product launches and FDA approvals. Most of the market players are engaged in the manufacturing various types of breast implants offering maximum advantages and high quality. For instance, in January, 2018, Sientra, Inc. received the U.S. Food and Drug Administration (FDA) approval of the site-change PMA supplement for its contract manufacturer “Vesta” to manufacture Sientra’s silicone gel breast implants. The company also implemented new manufacturing process improvements as per the FDA and also received approval for process enhancement supplements. In January, 2017, Allergan plc received approval from the FDA to market NATRELLE INSPIRA SoftTouch breast implants in the US. Additionally, in October 2017, Mentor Worldwide LLC announced the availability of MemoryGel Xtra breast implants in the US.
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The global breast implants market has been segmented, based on different parameters such as product, application, surface type, and geographical regions. On the basis of product, the market is classified into silicone and saline. The applications of breast implants covered in the report include reconstructive surgery and cosmetic surgery. Based on the surface type, the breast implants market is segmented into smooth and textured segments. The market is further examined by evaluating the market on basis of five strategic regions worldwide as North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Rising prevalence of breast cancer has led to an increase in the demand for breast implants. Breast cancer is prevalent across the globe with increase in number of women being diagnosed with breast cancer. The disease is common in developed as well as developing countries across the globe. As per the Breastcancer.org, in 2018, in the U.S., nearly 266,120 new cases of invasive breast cancer are expected to be diagnosed in women along with 63,960 new cases of non-invasive breast cancer. Deaths rates due to breast cancer among the women in the US are high than other types of cancer. In 2018, nearly 40,920 women in the U.S. are expected to die due to breast cancer. The number of new cases for breast cancer in men are lesser as compared to women. Beastcancer.org stated that in 2018, about 2,550 new cases of invasive breast cancer are expected to be diagnosed in men.
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Strategic Insights
Acquisition and agreement was observed as the most adopted strategy in global breast implants industry. Few of the recent acquisition and agreement are listed below:
2016: Sientra acquired Specialty Surgical Products, Inc. (SSP), with this acquisition the company will enhance it product portfolio of Dermaspan and AlloX2 lines of breast tissue expanders products.
2016: Sientra signed service agreement with Vesta, a Lubrizol LifeSciences company. Under this agreement Vesta is inaugurating manufacturing unit for Sientra and serve a long-term supply agreement for its PMA-approved breast implants.
2017: Allergan acquired LifeCell Corporation which is a regenerative medicine company. The acquisition will combine regenerative medicines business, LifeCell’s novel with the Allergan’s products such as breast implants and tissue expanders and medical aesthetics.
2017: Allergan acquired Keller Medical, Inc. is a medical device company which develops Keller Funnel. The Keller will combine Keller Funnel with Allergan’s breast implants business.
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