US Breast Reconstruction Market Was Estimated At US$ 567 Mn Owing To Growing Number Of Breast Cancer Cases And FDA Approvals

The Breast Reconstruction market is estimated to be valued at US$ 567 million in 2023 and is expected to exhibit a CAGR of 2.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Breast reconstruction is a procedure that helps recreating a natural-looking breast using tissue from elsewhere in the body or breast implants after mastectomy or breast cancer treatment. There are two types of reconstruction – implant-based and autologous tissue flap reconstruction using the patient’s own tissue. Breast reconstruction aims to improve quality of life and restore physical and psychological well-being of women undergoing mastectomy.

Market Dynamics:

According to the World Health Organization (WHO), breast cancer is the most common type of cancer in women worldwide. Rising incidence of breast cancer is the major factor driving the growth of breast reconstruction market. The market is also driven by FDA approvals for novel breast reconstruction products. For instance, in January 2020, FDA approved Motiva Implants, the first size-matching breast implants that are designed to match the tissue expander size and provide a more natural look. Furthermore, increasing awareness programs about breast reconstruction and rising medical tourism in developing countries are further propelling the market growth. However, high cost of breast reconstruction surgeries and limited reimbursement policies in some countries may hamper the market growth.

Segment Analysis

The global breast reconstruction market is dominated by the implant segment, which holds around 65% of the total market share. This is because breast implant reconstruction provides long-lasting aesthetic results and allows for symmetry correction. The implant sub-segment is further divided into silicone and saline breast implants. Silicone implants dominate this sub-segment with over 70% share due to their thin and natural texture resembling breast tissue.

PEST Analysis

Political: Regulations related tobreast reconstruction procedures and implants are well defined by authorities like the FDA to ensure quality and safety standards are followed.

Economic: The rising incidence of breast cancer and growing health awareness is driving demand for breast reconstruction procedures globally. Additionally, favorable insurance policies are supporting the market growth.

Social: Issues related to low self-esteem and mental stress faced by women after mastectomies are encouraging breast reconstruction to restore confidence and well-being. Social media is also creating awareness.

Technological: Advanced breast implants, 3D imaging tools, and sophisticated surgical techniques are improving aesthetic outcomes and reducing side effects and recovery time post-surgery. Innovations are further augmenting the market.

Key Takeaways

The Global Breast Reconstruction Market Size is expected to witness high growth, exhibiting CAGR of 2.7% over the forecast period, due to increasing incidence of breast cancer worldwide. North America dominates the market currently due to supportive medical reimbursement policies and sophisticated healthcare infrastructure. The Asia Pacific region is projected to be the fastest growing market during the projected period due increasing medical tourism, supportive government programs, and rising awareness. 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.

The global breast reconstruction market size for 2021 was US$ 567 million. The market is expected to grow at a high rate due to the increasing number of breast cancer cases worldwide. According to the World Cancer Research Fund, breast cancer is the most commonly occurring cancer in women worldwide with over 2 million new cases diagnosed annually. North America currently dominates the global market due to supportive medical reimbursement policies and the presence of sophisticated healthcare infrastructure and medical technology in the region.

The Asia Pacific region is projected to be the fastest growing market during the forecast period. This is attributed to factors such as the increasing medical tourism sector, growing awareness regarding breast reconstruction procedures, and supportive government healthcare programs in many Asia Pacific countries. China and India are expected to lead the market growth in the region due to the rising cases of breast cancer and improving healthcare infrastructure.

Key players in the global breast reconstruction market include established names such as Polytech Health & Aesthetics GmbH, Allergan, Mentor Worldwide LLC, Sientra Inc., and GC Aesthetics. Recently, there has been a surge of new product launches and strategic collaborations among these key players to strengthen their market position globally and meet the growing needs of breast reconstruction procedures. For instance, Mentor Worldwide launched surgical and aesthetic product solutions for post-mastectomy breast reconstruction.

 

Read More – https://www.newsanalyticspro.com/breast-reconstruction-market-share-size-analysis-trends-and-demand-forecast/

5 thoughts on “US Breast Reconstruction Market Was Estimated At US$ 567 Mn Owing To Growing Number Of Breast Cancer Cases And FDA Approvals”

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