USD 529.74 Million
Report ID:
SQMIG35A2916 |
Region:
Global |
Published Date: October, 2024
Pages:
155
|Tables:
90
|Figures:
71
Global Breast Reconstruction Market size was valued at USD 529.74 Million in 2023 and is poised to grow from USD 565.23 Million in 2024 to USD 889.97 Million by 2031, growing at a CAGR of 6.7% in the forecast period (2024-2031).
The growth of Global Breast Reconstruction market is attributed to the rise in incidence of breast cancer and availability of favorable reimbursement schemes. Technical advancements coupled with an increasing number of breast reconstruction surgeries are expected to drive market growth. Medicare will cover the cost of breast reconstruction provided the patient undergoes a breast mastectomy due to breast cancer. Moreover, Services Australia mentions that following breast cancer, breast prostheses can be compensated under the external breast prosthesis reimbursement scheme. It is expected that these factors would facilitate industrial growth.
Furthermore, leading players are launching new products and organizing awareness programs and establishing geographic presence to capture increasing demand for breast reconstruction. For instance, in October 2023, The Plastic Surgery Foundation and The American Society of Plastic Surgeons conducted a program called Breast Reconstruction Awareness Day. The major goal of the program was to distribute sufficient information about breast reconstruction among women diagnosed with cancer of the breast. Along this line, in October 2021, Sientra, Inc., together with Mission Plasticos, introduced the philanthropic initiative called "Reshaping Lives: Full Circle." The essence of the program was to offer free post-mastectomy breast reconstruction for indigent women.
Global Market Size
USD 529.74 Million
Largest Segment
Implants
Fastest Growth
Round Shape
Growth Rate
6.7% CAGR
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The Global breast Reconstruction Market is segmented into product, shape, end use, and region. By product, the market is classified into Implants, Silicone Breast Implants, Saline Breast Implants, and Tissue Expander. Depending on shape, it is bifurcated into Round Shape and Anatomical Shape. According to end use, the market is categorized into Hospitals, Cosmetology Clinics, and Ambulatory Surgical Centers. Regionally, it is analyzed across North America, Asia-Pacific, Latin America, Europe, and Middle East & Africa.
Analysis By Product
Silicone breast implant, with its excellent cosmetic results and a natural feel, is regarded as the market leader in the breast reconstruction market. Some refer to them as silicone gel implants; these are implants made from liquid silicone gel within a silicone shell and are known for their closeness in emulating the look and feel of actual human breast tissue. They are more often used for primary augmentation of the breasts and reconstruction of breasts after mastectomy because silicone implants feel more natural compared with saline implants. With time, silicone implants retain firmness and form, which makes them even more aesthetically beautiful. These are usually more expensive than saline implants; however, their track record in satisfying patients, and their results turning out looking natural, cements their top spot in the industry.
However, due to the indispensable role that it plays in preparing the chest region for permanent implants, the tissue expander has become the most rapidly expanding category in the breast reconstruction market. These devices provide flexibility and space for implantation later by gradually stretching skin and muscular tissue. New tissue expander development has greatly enhanced patient outcomes and comfort with the development of improved materials and designs more accessible to patients. Growing familiarity with their benefits and the increase in reconstructive procedures have contributed to their expanding acceptance. Technical advances, together with the key role they play in the reconstructive process, will continue to drive the strongly expanding market in tissue expanders.
Analysis By End User
The hospitals segment is a significant end user with the highest importance for the breast construction market. This is majorly justified by the fact that doing such elaborate and high-acuity treatments requires highly needed multifarious resources and well-furnished amenities. The handling of routine and complex breast reconstruction cases calls for a hospital with expert medical staff, innovative surgical technology, and supportive services such as critical care units and diagnostic facilities. The services include everything from pre-operative consultations to post-operative care; hence, most doctors and patients prefer hospitals for the wide and full range of services provided by them. Infrastructures with well-established expertise to manage a wide range of complicated cases contribute significantly to their dominant position in the breast reconstruction industry.
The Ambulatory Surgical Centers segment continues gaining momentum in breast reconstruction as the fastest-growing segment in the market. These facilities gain popularity due to their ability to offer effective, affordable, and patient-centered treatment. The fact that the ASCs are designed and equipped to handle outpatient treatments allows the patients to undergo breast reconstruction surgery and recover rapidly, thereby eliminating the need for an extended stay in the hospital. This is attributed to increased attention to reducing health care costs and developing less-invasive surgical procedures. Compared to other facilities, ASCs offer quality care in less complex ways, improving patients' convenience and comfort. A trend of outpatient treatment and efficiency is driving the fast development of ASCs in the market.
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North America held a significant share of the global breast reconstruction market, owing to various key factors. Many cosmetic outcomes and growing awareness of breast reconstruction surgery among cancer patients are some major reasons for such growth in this region. Coupled with increasing incidences of obesity and breast cancer, this needs to improve one's appearance after mastectomy creates demand for reconstructive surgeries. Based on available data from the American Society of Plastic Surgeons, the most performed cosmetic surgery in the US in the year 2017 was breast augmentation; hence, these surgeries have considerable demand. The leading position in the market of North America is due to a combination of advanced medical facilities, high level of patient awareness, and a well-developed healthcare infrastructure.
Asia Pacific is predicted to register a higher CAGR in the breast reconstruction market owing to numerous dynamic variables. Due to improved healthcare infrastructure, people in developing countries are finding easier access to the latest medical treatments related to breast reconstruction. Higher adoption rates are in part attributed to increased awareness among women regarding the benefits and availability of breast reconstructive surgery. A greater share of these regions' population can now afford, and access, reconstructive surgeries owing to higher per capita healthcare expenditure. Economic conditions and healthcare systems are improving in countries across the Asia Pacific, thereby ensuring rapid growth in the breast reconstruction market. This growth is expected to mirror the growing patient awareness of the region and enhancing health facilities.
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Rise in Awareness and Demand for Aesthetic Procedures
Improved Surgical Technology
Restraints
High Expenses and Financial Constraints
Post-Surgical complications and Risks
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The major companies are using alliances, governmental approvals, new product launches, and regional expansion and mergers & acquisitions to gain market share. For instance, Establishment Labs announced, in March 2023, the release of Mia Femtech, a minimally invasive solution for breast aesthetics, based on a cooperation arrangement with firms in Europe and with a secondary partner network in Japan. Major companies are investing highly in R&D for developing products with advanced technologies.
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As per SkyQuest analysis, increasing aesthetic appearance shall be the focus, hence driving demand for breast reconstruction products across the globe by a considerable margin during the forecast period. Moreover, increasing obesity cases, rising cases of breast cancers, and increasing awareness about breast reconstruction surgery are predicted to drive the market during the forecast period of 2026. American Cancer Society released findings of a study that people who receive radiation treatment following breast-conserving reconstructive surgery have significantly higher survival rates and reduced possibility of cancer recurrence. Furthermore, increase in the number of breast reconstruction procedures and technological developments are expected to drive the market forward.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 529.74 Million |
Market size value in 2031 | USD 889.97 Million |
Growth Rate | 6.7% |
Base year | 2023 |
Forecast period | (2024-2031) |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Breast Reconstruction Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Breast Reconstruction Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Breast Reconstruction Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Breast Reconstruction Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG35A2916