The global breast reconstruction market is expected to expand at an annual growth rate of 6.7% from 2022 to 2030, per research conducted by Grand View Research. This was announced after the market was valued at $465.3 million in 2021.
Growth in the industry comes from the increasing number of breast cancer patients and the availability of reimbursement policies on procedures. An increase in breast reconstruction procedures, as well as technological advancements, is expected to increase the market growth.
According to the WHO, approximately 2.3 million women globally were diagnosed with breast cancer in 2020. As a result, the demand for breast reconstruction is expected to rise, propelling market growth for the forecast period.
Reimbursement for breast reconstruction is also being made available in a growing number of countries, adding to the increasing demand for this service. According to Medicare, breast reconstruction can be reimbursed if a person has received an under breast mastectomy as a result of breast cancer. The American Society of Plastic Surgeons discovered that the number of breast reconstruction procedures increased from 78,882 in 2000 to 137,808 in 2020.
To keep up with the increasing demand post-COVID-19, the market players are instituting several strategic initiatives like product launches, awareness campaigns and geographic expansion.
Implants were found to be the largest revenue share in 2021 with over 60%, which can be attributed to the rising use of breast implants during breast augmentation surgeries. This implant segment is estimated to continue to dominate the market moving forward. The tissue expander market is also projected to show the fastest growth rate of 8.7% over the forecast period. This growth is due to the increasing use of tissue expanders for breast reconstruction procedures.
Round shape was reported with the largest revenue share with over 55% in 2021. This can be attributed to the growing number of product launches, regular updates by the FBD on breast implant safety and the conduction of clinical trials.
The anatomical shape is estimated to register the fastest growth of 8.7% during the forecast period. According to Sayah Institute, this breast implant provides a natural shape and a textured surface that does not shift after placement. This texture makes the implants ideal for breast augmentation in women with a small amount of natural breast tissue.
Hospitals generated the largest revenue share of more than 45% in 2021. This can be accredited to the increasing number of hospitals across the globe. The hospital segment is anticipated to show a significant growth rate over the forecast period.
The ambulatory surgical centers are also projected to show the fastest rate of growth at 8.7%. This growth comes from an increase in the number of breast reconstruction surgeries in the ASCs. The Plastic Surgery Statistics Report found that around 1,692,717 breast reconstruction surgeries were performed in the ASCs.
The US generated the largest revenue share with over 40% in 2021. The Asia Pacific region is expected to grow at a rate of 7.1% over the forecast period. This growth in the market can be attributed to the rising cases of breast cancer in these regions.
Key players in the market include Johnson & Johnson, Allergan Inc., Sientra Inc., Ideal Implant Incorporated, Establishment Labs S.A., POLYTECH Health & Aesthetics GmbH, RTI Surgical Holdings, Sebbin, Integra LifeSciences and GC Aesthetics.