Breast Reconstruction Market

Market Synopsis:

The Global Breast Reconstruction Market was valued at USD 574.93 Million in the year 2022 and is projected to reach a value of USD 689.65 Million by the year 2030. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 2.30% over the forecast period.

Breast cancer is a form of cancer that develops when cells start to multiply uncontrollably. Typically, breast cancer cells create a tumor that can be seen on an x-ray or felt as a lump. Following a mastectomy (the removal of the breasts to cure or prevent breast cancer) or any technique used to rectify congenital disabilities, Breast Reconstruction is a surgical process that reconstructs the contour of the breast. Breast Reconstruction improves women's physical attractiveness while restoring their mental and social wellbeing. Breast Cancer Now is anticipated that one in seven women in the U.K. will develop breast cancer. Thus, the demand for Breast Reconstruction is expected to rise due to the rise in breast cancer patients, driving the market growth throughout the forecast period.

Additionally, several nations are offering to fund breast reconstruction, increasing demand for the procedure. For example, a study by ScienceDirect determined that the mean reimbursement rate for pedicled flaps was USD 5,993.16, while the exact figure for free flaps was USD 4,325.84. Additionally, according to a similar source, reimbursement for breast reconstructions throughout Europe depended similarly on the operation. Again, Medicare states that Breast Reconstruction can be covered if a person had a mastectomy due to breast cancer. Furthermore, according to Services Australia, the external breast prosthesis reimbursement program may be able to reimburse the breast prosthesis following breast cancer. The market is expected to increase throughout the forecast period due to the factors above.

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Market Segmentation:

The Breast Reconstruction Market is segmented on the basis of product, procedure, type, and end-user. Based on the product, the market is segmented as breast implants. The market is segmented as a procedure, immediate, delayed, and revision. Based on type, the market is segmented as unilateral and bilateral. Finally, end-users segment the market as hospitals, cosmetology clinics, and ambulatory surgical centers.

Based on Product:

The market is divided into segments for breast implants based on product. In 2021, implants accounted for more than 60.0 percent of total revenue. This results in more people getting breast implants during breast augmentation procedures. For instance, the NCBI estimates that 8.08 out of 1,000 American women have some breast implant. Additionally, according to the University of Utah Health, around 35 million women have textured breast implants, although another similar source claims that more than 1.5 million women have implants each year. As a result, it is projected that the implant category will drive the market in future years.

Based on End-User:

In 2021, the healthcare sector had the highest revenue share. The growth of hospitals worldwide is responsible for the segment's domination. For instance, 80% of India's healthcare market is made up of hospitals, according to the Athar Institute of Health Management & Studies. In addition, there are 193 private hospitals and 706 public hospitals in Canada, according to The Canadian Encyclopaedia. Globally, there has also been a rise in medical tourism. Therefore, the standard of medical facilities offered by hospitals is anticipated to rise as medical tourism increases. As a result of the factors mentioned above, it is predicted that the hospital segment will develop significantly over the projection period.

North America is projected to Grow at the Highest CAGR During the Forecast Period

In 2021, North America's revenue share was the highest. This can be attributed to the high prevalence of breast cancer in this area. For instance, according to the Canadian Cancer Society, every day, 78 Canadian women are diagnosed with breast cancer, yet only 15 of them pass away from the disease. According to a close source, 28,600 Canadian women will receive a breast cancer diagnosis in 2022. This figure represents 25% of all new cancer cases. Therefore, it is anticipated that the factors mentioned will accelerate market growth in the North American area. The development of Breast Reconstruction technology, the expansion of companies producing breast implants and acellular dermal matrices, and the constant rise in breast cancer incidence all contribute to the market's growth in the region.

Competitive Landscape:

The key players in the Global Breast Reconstruction Market include- Mentor Worldwide LLC (Johnson & Johnson) (US), Allergan Aesthetics Inc. (an Abbvie company) (US), Ideal Implant Incorporated (US), Sebbin (France), GC Aesthetics (Ireland), POLYTECH Health & Aesthetics (Germany), Sientra (US), Integra Lifesciences (US), RTI Surgical Holdings (US), Establishment Labs S.A. (US), Silimed (Brazil), and others.

Segmentation of the Global Breast Reconstruction Market: