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The global breast implants market is estimated to be valued at US$ 1,299.9 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:
The breast implants market involves the manufacturing and sales of breast implants, which are medical devices used to change the size or shape of the breasts for cosmetic or reconstructive purposes. Breast implants helps in correcting defects, restoring volumes or breast symmetry after mastectomy, breast cancer procedures or injuries. Traditionally saline based breast implants were popular, however, silicon based breast implants have gained prominence due to their soft feel and more natural look and shape retention capability. Advancements in material sciences have paved way for cohesive gel-based breast implants which enable surgeon precision during implantation and offer superior clinical outcomes.
Market key trends:
One of the key trends in the breast implants market is the growing adoption of 3D technology and AI-powered simulation tools. Players are focusing on developing AI-driven simulation software that allow plastic surgeons to visualize implants interactively on 3D models of patients. This enables surgeons to accurately determine implant selection and position pre-operatively. For instance, Sientra offers an AI tool called Project Pear as part of its breast implant portfolio that provides 3D interactive simulations. Such advancements are improving predictability, precision and safety of breast augmentation procedures significantly.
Porter’s Analysis
Threat of new entrants: The breast implants market requires huge capital investments for R&D, product approvals and certifications which poses high entry barriers for new players.
Bargaining power of buyers: Individual consumers have low bargaining power as they lack standardization while hospitals and clinics have moderate bargaining power due to smaller order volumes.
Bargaining power of suppliers: The market has few raw material suppliers and key players thus possess higher bargaining power over suppliers.
Threat of new substitutes: Product substitutes like fat grafting and breast reconstruction have limited effectiveness, thus posing low threat of substitution.
Competitive rivalry: Being a consolidated market, competitive rivalry is intense among key players to gain higher market share through new product launches and innovations.
Key Takeaways
The global breast implants market is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period 2023 to 2030, due to increasing cosmetic popularity as well as growing breast cancer reconstruction surgeries. North America currently dominates the market owing to an early introduction of advanced breast implants and aesthetic procedures in the region. Europe also captures a significant market share due to rising medical tourism coupled with improving reimbursement policies for reconstructive surgeries.
The breast implants market size for 2023 is US$ 1,299.9 Mn. The market is anticipated to reach around US$ 1,847.7 Mn by 2030. 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.
Key players operating in the breast implants market are focusing on new product launches. For instance, in April 2022, Establishment Labs launched AirXpert, expandable breast implants in Europe, to meet increasing demand for customized solutions. Ideal Implant Inc launched smooth round breast implants in Canada and Brazil during March 2022.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
