by Breast reconstruction involves surgical procedures that are performed to reshape the breast(s) after a mastectomy or lumpectomy due to breast cancer. Technological advancements in breast reconstruction procedures over the past years have led to the development of various breast implant options and autologous flap techniques for reconstruction. The global breast reconstruction market is estimated to be valued at US$ 901.3 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
High Growth due to Rising Breast Cancer Cases
The global breast reconstruction market is expected to witness high growth owing to the rising number of breast cancer cases globally. According to the American Cancer Society, over 43,000 U.S. women are estimated to be diagnosed with breast cancer in 2022. Further, the World Health Organization (WHO) estimates over 2 million new breast cancer cases worldwide each year. The rising prevalence of breast cancer is a key factor driving the demand for breast reconstruction procedures post-mastectomy.
Technological Advancements in Reconstruction Procedures
Continuous technological advancements are further augmenting market growth. For instance, development of customized 3D-printed implants and advancement of flap techniques such as DIEP (deep inferior epigastric artery perforator) flap provide superior long-term outcomes compared to traditional breast reconstruction methods. These technological developments help achieve more natural looking and better positioned breast reconstruction.
SWOT Analysis
Strength: The breast reconstruction market has strong growth potential driven by rising breast cancer incidence. Increasing awareness about breast reconstruction options post mastectomy is supporting market growth. Technological advancements are leading to better cosmetic outcomes and new product launches.
Weakness: High cost of reconstructive procedures poses affordability challenges in developing regions. Lack of skilled plastic surgeons in underdeveloped countries also restrains market growth.
Opportunity: Untapped growth opportunities exist in emerging Asian and Latin American countries. Favorable reimbursement schemes could help boost the adoption of breast reconstruction procedures.
Threats: Alternative breast reconstruction methods like fat grafting act as substitutes. Entry of generic drug manufacturers increases competitive pressure on established brands.
Key Takeaways
The Global Breast Reconstruction Market Demand is expected to witness high growth. Advancing 6.5% annually, the market size is projected to reach $1,327.5 million by 2028. Heightened risk of breast cancer due to changing lifestyles is driving the demand for reconstruction procedures. Growing cancer survivor rate and availability of various reconstructive options further supports market expansion.
Regional analysis: North America currently dominates the breast reconstruction market, attributable to rising public awareness and favorable insurance coverage in the US and Canada. Europe holds the second largest revenue share led by growing prevalence of breast cancer in Eastern European nations. Asia Pacific is poised to emerge as the fastest growing regional market in the coming years, creditable to increasing healthcare expenditure, economic growth and expanding patient pool in China and India.
Key players: Key players operating in the breast reconstruction market are Polytech Health & Aesthetics GmbH, Allergan, Mentor Worldwide LLC (Johnson & Johnson), Sientra Inc., GC Aesthetics, RTI Surgical, Inc., Groupe Sebbin SAS, Integra LifeSciences, and Wanhe. These prominent manufacturers are increasingly focusing on new product launches, mergers, acquisitions and geographic expansions to strengthen their market position.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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