PUBLISHER: Allied Market Research | PRODUCT CODE: 1192988
PUBLISHER: Allied Market Research | PRODUCT CODE: 1192988
The global breast implant market is envisioned to garner $4,453.0 million by 2031, growing from $1,825.0 million in 2021 at a CAGR of 9.4% from 2022 to 2031.
Breast augmentation and other aesthetic changes to a woman's breasts, including their size, shape, and texture, are accomplished with the aid of breast implants. The popularity of breast augmentation operations is increasing the need for breast implants. The industry for breast implants is expanding primarily due to increase in importance of aesthetics and surge in the availability of attractive, cohesive silicone breast implants. Additionally, the market is expanding as a result of the increased incidence of breast cancer and the availability of a wide range of breast implant choices.
Rise in breast operations performed worldwide is the main factor driving the market. The demand for breast implantation and enlargement has increased due to people's desire to look beautiful and their willingness to spend money to do so, particularly those who belong to elite groups. The U.S., Brazil, and Mexico have the highest rates of breast implant surgeries. According to estimates from the International Society of Aesthetic Plastic Surgery, more than 1.86 million breast augmentation procedures were performed globally in 2018. This is expected to accelerate the market's growth in the estimated period.
However, having breast implant surgery demands numerous doctor visits and incurs additional costs. On an average, implants last 7-12 years, and each replacement does add to the cost. This factor is expected to hamper the growth of the market. On the contrary, the market players in the area are continuously working toward better and more efficient solutions and evolving the lives of available products through new product launches, collaborations, and mergers and acquisitions, which is further expected to complement the growth of the breast implant market. In addition, the desire for a celebrity look among many women in nations such as China and Japan is expected to spur market growth.
The COVID-19 pandemic caused havoc throughout the world and in numerous industries. More than 43% of the market's sales were hampered by the COVID pandemic, and that number increased as a result of the manufacturer's transportation being disrupted by stringent blockade standards. In addition, the closure of specialty shops and hypermarket chains due to severe blockades around the world has affected sales in the silicone and saline breast implants market. The market for silicone and saline breast implants introduced new strategies and growth opportunities to recover despite the severe recession. To succeed at both the regional and global levels, markets are starting to look for alternative funding sources and business models.
The key players profiled in this report include Sebbin, Allergan, Mentor Worldwide Llc, Gc Aesthetics, Laboratories Arion, Sientra Inc., Hansbiomed, Cereplas, Silimed, and Groupe Sebbin SAS.
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