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LOS ANGELES, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The global aesthetic implants market is anticipated to grow at a CAGR of around 6.5% during the forecast period 2020 to 2027 and to reach around US$ 6.4 Bn by 2027.
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The market in North America is expected to account for significant revenue share in the global aesthetic implants market due to availability of advanced infrastructure. Government is spending high on development of healthcare infrastructure in order to facilitate the adoption of advanced surgical devices. There is gradual increase in number of patients in hospitals related to cosmetic surgery, majorly due to consumers approach towards self appearance and personality is changing. This is resulting in rise in surgeries such as calf implants, buttock implants, pectoral implants, etc. Accessibility to advanced surgical procedures and availability of favorable reimbursement policies are other factors expected to support the growth of target market. According to American Society of Plastic Surgeons (ASPS) the growth in cosmetic procedures over the last few years is increasing; there were 17.5 million surgical and minimally invasive cosmetic procedures performed in the United States in 2017, which was up by 2% increase over 2016.
In addition, high investment by major players for R&D activities along with focus on development of advanced implant material is another factor expected to impact the growth of target market. Increasing number of patients suffering from breast cancer along with awareness among consumers related to aesthetic implants is another factor expected to boost the growth of regional market. According to Breastcancer.org, an estimated 276,480 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S. in 2020, along with 48,530 new cases of non-invasive (in situ) breast cancer.
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Increasing public-private partnerships and agreements for R&D activities and introduction of innovative solutions are other factors expected to support the growth of regional market. The market in Asia Pacific is expected to witness faster growth in the target market over the forecast period due to developing healthcare standards. Government is spending high on the development of healthcare sector with the developing regulatory scenario and availability of insurance policies is resulting in consumers’ inclination towards adoption of aesthetic surgeries.
High spending capacity among consumers and desire to look beautiful especially among women is influencing the growth factor. Changing lifestyle pattern, high influence of social media and increasing consumer spending on cosmetic surgeries in order to look beautiful are major factors expected to drive the growth of global aesthetic implants market.
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Business expansion activities by major players in order to enhance the customer base and increase the profit ratio is expected to augment the growth of target market.
In 2019, Sientra, Inc. a medical aesthetics company acquired the Lubrizol Life Science company’s silicone breast implant manufacturing operation. This is expected to help the company to enhance the product portfolio and enhance the customer base.
In 2019, Straumann Group a global manufacturer and supplier of dental implants, instruments, and biomaterials signed a strategic partnership with Yuhan Corporation. This is expected to help the company to strengthen its global presence and increase the revenue.
In 2019, GC Aesthetics a specialists in high-quality breast implants introduced IMPLEO and The Matrix in the Brazil market. IMPLEO is a unique SiloGel Twist gel and The Matrix, is a fast-growing anatomical implant designed for performance that gives women natural results and additional breast projection. This is expected to strengthen its position in Brazil market.
However, factor such as high cost of surgeries and post surgical complications are factors expected to hamper the growth of global aesthetic implants market. In addition, unavailability of reimbursement policies in developing countries is expected to challenge the growth of target market.
Players operating in the global aesthetic implants market are AVINENT Implant System, Dentsply Sirona Inc., Establishment Labs S.A., Mentor Worldwide LLC, GC Aesthetics, Institut Straumann AG, Sientra, Inc., Allergan, Plc., POLYTECH Health & Aesthetics, and Zimmer Biomet Holdings, Inc. The market is highly competitive due to presence of large number of players operating on global level.
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