by Breast reconstruction is a surgical procedure that aims to restore a more natural contour and shape of the breast following mastectomy or other breast surgeries. Breast reconstruction can help restore physical appearance as well as improve psychosocial well-being and quality of life for breast cancer patients. There is a growing preference for immediate breast reconstruction surgeries performed at the same time as mastectomy rather than delayed reconstruction performed at a later date. 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 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing preference for immediate breast reconstruction surgeries performed at the same time as mastectomy instead of delayed reconstruction performed at a later date is driving the breast reconstruction market growth. Immediate breast reconstruction offers advantages such as reducing number of surgeries required, saving recovery time, and helping patients psychologically cope better by preserving their appearance immediately after breast cancer treatment. This growth trend is prompting breast reconstruction product manufacturers to launch newer generations of breast implants and tissue expanders that offer versatility, have less complications, and provide exceptional cosmetic outcomes especially for immediate reconstruction procedures.
SWOT Analysis
Strength: Breast reconstruction techniques are improving and offering better aesthetic outcomes which is driving the adoption. Advancements such as fat grafting and reconstruction using acellular dermal matrix provide promising results with reduced morbidity.
Weakness: High cost associated with breast reconstruction procedures make it unaffordable for some patients. Lack of awareness about reconstruction options amongst newly diagnosed patients is another challenge.
Opportunity: Rising incidence of breast cancer worldwide is increasing the potential patient pool undergoing mastectomy. Growing medical tourism in developing countries provide opportunities for both domestic as well as international players.
Threats: Presence of alternative therapies such as breast reduction and lifting poses competition. Stringent regulatory framework in certain countries affects quick approvals and market entry.
Key Takeaways
The Global Breast Reconstruction Market Size is expected to witness high growth over the forecast period of 2023 to 2030. North America currently dominates the market owing to high awareness, routine breast screening and favorable reimbursement scenario in the US. However, Asia Pacific is expected to be the fastest growing market due to improving healthcare infrastructure as well as increasing medical tourism.
Key players operating in the breast reconstruction market are Mentor Medical Systems B.V. (Johnson & Johnson), Allergan, Inc. (AbbVie), Sientra, Inc., Ideal Implant Incorporated, Establishment Labs, POLYTECH Health & Aesthetics GmbH, RTI Surgical, Sebbin, Integra LifeSciences, GC Aesthetics. These players are focusing on new product launches and approvals to consolidate their market position. For instance, Sientra received FDA approval for high strength cohesive silicone breast implants. Similarly, Establishment Labs launched diverse portfolio of Motiva Implants allowing customization of breast reconstruction as per patient’s anatomy.
Regional analysis: North America currently holds the largest share primarily due to favorable reimbursements and increasing awareness. It is estimated that over 70,000 women undergo mastectomy annually in the US necessitating breast reconstruction. Asia Pacific market is expected to grow at a higher pace owing to improving healthcare infrastructure and rising medical tourism in the regions. Countries such as Thailand, Singapore, India are emerging as popular destinations for cost effective plastic and reconstructive surgeries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
