Breast Implants Market was valued at US$ 1,535.96 million in 2019 and is projected to reach US$ 2,278.40 million by 2027; it is expected to grow at a CAGR of 5.2% during 2020–2027. 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.
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The global breast implants market is a matured market in the developed and 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. However, the prices for breast implant surgery significantly vary, based on surgeon’s experience, the type, cost of breast implants used, and the geographic office location.
The market for breast implants is driven by new product launches and FDA approvals. Most of the market players are focusing on manufacturing various types of breast implants offering maximum advantages and high quality. For instance, in January 2018, Sientra, Inc. received the US 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 is segmented into product, application, surface type, and geographical regions. Based on 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. Based on geography, the market is further bifurcated into North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Many well-known as well as small local companies are present in the market to provide diversified product to its customers. The larger market players are adopting the strategy such as acquiring small firms to enhance its product portfolio and expand its footprint in different geographies. Additionally, various companies are also undergoing other strategic alliances such as collaboration, agreements and partnerships to garner their significance and remain competitive in the market.
Top Companies Synopsis – 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, and HANSBIOMED CO. LTD are among the key players present in the global breast implants market.
Product Insights
The global breast implants market by silicon was led by productsegment. The other segment, saline considered in the breast implants market expected to grow at the significant rate in the forecast period.
Application Insights
The global breast implants market by cosmetic surgerywas led by application segment. The other, reconstructive surgery segment, considered in the breast implants market expected to grow at the significant rate in the coming years.
Surface Type Insights
The global breast implants market by smooth segment was led by application segment. The other, textured segment, considered in the breast implants market anticipated to grow at the significant rate in the coming years.
Market leaders are involved in expanding their business through organic or inorganic activities such as, acquisition, product launches and product approval. For instance, in 2017, Allergan plc. has carried out various important business developments such as acquisition of Keller Medical, Inc., Zeltiq Aesthetics, Inc., and LifeCell Corporation. The acquisitions have helped the company positively to expand their product offerings as well as expand their consumer base at a global level. Additionally, in January 2017, Allergan received FDA approval for the commercialization of to market NATRELLE INSPIRA SoftTouch breast implants, which provides women undergoing breast reconstruction, augmentation or revision surgery a new medium firmness gel. Subsequently, these activities are expected to provide the market with lucrative growth opportunities.
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