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The breast reconstruction market share is expected to increase by USD 257.71 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.6%.
This breast reconstruction market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers breast reconstruction market segmentations by product (breast implants and tissue expanders) and geography (North America, Europe, Asia, and ROW). The breast reconstruction market report also offers information on several market vendors, including AbbVie Inc., CEREPLAS Co., Establishment Labs Holdings Inc., GC Aesthetics Inc., Groupe SEBBIN SAS, Ideal Implant Inc., Johnson and Johnson Services Inc., Laboratories Arion, POLYTECH Health & Aesthetics GmbH, and Sientra Inc. among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing self-awareness and concerns regarding physical appearance is notably driving the breast reconstruction market growth, although factors such as availability of substitutes may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the breast reconstruction industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Breast Reconstruction Market Driver
The growing self-awareness and concerns regarding physical appearance is a major factor driving the global breast reconstruction market share growth. Despite the widespread acceptance of conserving natural breasts in early-stage breast cancer, studies have shown that mastectomy rates have begun to increase. The surge in the number of mastectomies is mainly attributed to an increase in the number of patients opting for contralateral prophylactic mastectomy in unilateral, early-stage breast cancer. This, in turn, has induced the demand for breast reconstruction procedures, consequently increasing the demand for breast reconstruction products. Breast reconstruction after a mastectomy can significantly improve the quality of life of patients. The implementation of the Federal Women s Health and Cancer Rights Act of 1988 aimed at increasing public awareness about breast reconstruction has positively impacted the growth of the market. According to the American Society of Plastic Surgeons, approximately 101,650 women in the US underwent breast reconstruction surgery in 2018. Past studies suggest that the reconstruction rates have increased from 10% to more than 35% for unilateral mastectomy and from 35% to more than 50% for bilateral mastectomy for the period 1998-2011. This trend continues to penetrate developed countries, leading to an increased demand for breast reconstruction products, thereby driving market growth.
Key Breast Reconstruction Market Trend
The strong research funding is another factor supporting the global breast reconstruction market share growth. The increasing prevalence of breast cancer resulted in a huge unmet need for treatment using drugs in the market. This has resulted in intense research and development of non-therapeutic interventions such as breast reconstruction by vendors and research institutes for the treatment of the indication. These vendors and institutions rely on grants from organizations that provide research funding to complete their clinical trial research and launch the drug in the market. The increasing research funding is expected to attract small and mid-sized vendors and researchers to develop novel breast reconstruction products for the treatment of the indication. The rising patient pool comprising women with genetic diseases as well as the increasing healthcare expenditure by major economies across the world are the factors propelling private and public organizations to participate in providing grants either directly to patients or organizations that indulge in conducting breast reconstruction procedures. Such initiatives are expected to boost the growth prospects of the global breast reconstruction market during the forecast period.
Key Breast Reconstruction Market Challenge
The availability of substitutes will be a major challenge for the global breast reconstruction market share growth during the forecast period. The global breast reconstruction market is facing challenges owing to the increasing adoption of substitute products such as breast forms and padded bras and procedures such as skin grafting surgeries or autologous reconstruction among breast cancer patients. This has increased their adoption among end-users. Custom breast prosthetics also offer benefits to breast cancer patients as the right prosthetic can help improve their psychological and emotional well-being. Also, custom-made breast prosthetics cost around one-fifth of the cost of a breast reconstruction procedure. The abundant availability of padded bras has also led to the decreased demand for breast reconstruction procedures, as these bras are cost-effective and can be adjusted depending on the need of patients. Furthermore, breast reconstruction using tissue extracted from a different part of the patient s body is widely accepted as it usually lasts for a lifetime, whereas breast implants are required to be replaced in 10-20 years. As a result, the increasing adoption of these substitutes is expected to hinder the growth of the global breast reconstruction market during the forecast period.
This breast reconstruction market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global breast reconstruction market as a part of the global healthcare supplies market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the breast reconstruction market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the breast reconstruction market encompasses successful business strategies deployed by the key vendors. The breast reconstruction market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The breast reconstruction market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the breast reconstruction market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global healthcare supplies market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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