The breast reconstruction market studied was projected to grow with a CAGR of nearly 7.1% over the forecast period. The major factor attributing to the growth of the market is the increasing incidence of breast cancer. According to the World Health Organization, breast cancer is the most common cancer among women, impacting 2.1 million women every year, and also affects the greatest number of cancer-related deaths among women. In 2018, it is estimated that 627,000 women died from the breast cancer. Furthermore, increasing awareness about the safety of breast reconstruction options is reassuring women undergoing mastectomy and other breast cancer surgeries to choose the reconstruction process. The increasing products with advanced technologies are boosting the market growth. However, the high cost of the breast reconstruction procedures is the major factor restrining growth of the market.
Key Market Trends
Breast Implants Holds the Largest Share in the Breast Reconstruction Market.
- The inclusion of breast implants in breast reconstruction surgeries accounted for over a major share of the global market, and this is expected to remain a prominent trend in the breast reconstruction space in the forecast period. The implants are either saline or silicone implants.
- An increase in the number of breast surgeries that are proportional to the growing incidence of breast cancer is propelling segment growth. According to the International Society of Aesthetic Plastic Surgery, 1540289 breast augmentation procedures that involve implants were performed in 2017. As the number of procedures increase the growth of the segment increases.
- Thus, considering all the above mentioned factors the market is expected to witness high growth over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to the factors such as the high incidence of breast cancer and increasing breast augmentation procedures, established healthcare infrastructure are some of the key factors accountable for its large share in the market. According to the American Cancer Society, in 2017, an estimated 252,710 new cases of invasive breast cancer were diagnosed among women. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth. The rising focus of market players in the United States and increasing prevalence of breast cancer are likely to boost the growth of the breast reconstruction market in North America.
Competitive Landscape
The breast reconstruction market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Allergan, Sientra, Inc, IDEAL IMPLANT INCORPORATED, Johnson & Johnson, Establishment Labs S.A., POLYTECH Health & Aesthetics GmbH, RTI Surgical, Inc., Groupe Sebbin SAS, Integra LifeSciences, GC Aesthetics.
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