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Cosmetic Implants Market Is Expected To Reach USD 9.0 Billion With A CAGR Of About 8.5% By 2020 | Million Insights

Cosmetic Implants Market Is Expected To Reach USD 9.0 Billion With A CAGR Of About 8.5% By 2020 | Million Insights

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According to new report available with Million Insights, The global cosmetic implants market is expected to reach USD 9.0 billion by 2020 and is expected to grow at a CAGR of 8.5% over the forecast period. Rapidly changing lifestyles, increasing aesthetic awareness and medical tourism are some of the key factors anticipated to boost the market.

Industry Insights:

The global cosmetic implants market is expected to reach USD 9.0 billion by 2020 and is expected to grow at a CAGR of 8.5% over the forecast period. Rapidly changing lifestyles, increasing aesthetic awareness and medical tourism are some of the key factors anticipated to boost the market over the forecast period. Rising healthcare expenditure, favorable government initiatives, and growing ageing population are also amongst few key factors expected to surge adoption of cosmetic implants. According to American Society of Plastic Surgeons in 2016, residents of U.S. spent nearly USD 15 billion on combined surgical and nonsurgical procedures.

Growing demand for minimally invasive surgeries and increasing cosmetic surgeries drive the growth of this market. According to the data published by the American Society of Plastic Surgeons in 2015, the minimally invasive cosmetic surgeries performed were 15.9 million demonstrating 2% increase since 2014 in the U.S. Technological advancements in the field of cosmetic implant surgeries including tissue engineering, microsurgery procedures, and computer assisted process offers advantages of minimal or no visible scars and thereby further drive the demand for the implants.

Rising incidences of breast cancer escalate number of women undertaking the breast reconstruction and augmentation procedures, which is anticipated to boost demand for breast implants such as silicon and saline filled breast implants. Some of the key factors such as growing awareness towards aesthetic appearance and anti-ageing treatment also propel the market growth. According to the International Society of Aesthetic Plastic Surgery, globally there were about 21,696,671 aesthetic procedures performed in 2015.

Full Research Report On Global Cosmetic Implants Market Analysis available at: https://www.millioninsights.com/industry-reports/cosmetic-implant-market

Application Insights:

On the basis of applications, the market is segmented as dental, breast, facial, penile, and calf implants. Dental implants held the largest market share of about USD 3.45 billion in 2016. Factors such as increasing dental injuries and growing advancements in technologies including mini implants, CAD/CAM technology, and nanostructured titanium implants is expected to boost the market. Rising concerns for oral healthcare and increase in geriatric population also drive the growth of the market. According to American Association of Oral and Maxillofacial Surgeons survey conducted in the U.S, about 30 million people have lost teeth in one or both jaws and more than 15 million people are with the bridges or crowns.

Facial implants segment is anticipated to be the fastest growing segment with a CAGR of 10.3%. Some of the key factors such as rising demand for minimally invasive surgeries and increasing incidence of facial and sports related trauma drive the demand for facial implants in the market. However, rising incidences of breast cancer and growing number of breast augmentation and reconstruction surgeries is further anticipated to boost up the demand for breast implants. According to The American Society of Plastic Surgeons (ASPS), breast augmentation is among the top five cosmetic procedures in U.S. About 279,143 number of breast augmentation procedures were conducted in the U.S.

Raw Material Insights:

Based on the raw materials, the market is segmented into polymers, ceramics, metals, and biological materials. Polymer based implants accounted for largest market share owing to its properties of high durability, flexibility, and ease in availability. Polymer implants can be easily mold into various shapes that can be used for manufacturing of different cosmetic implants like facial, breast, and body contouring implants.

Ceramic implant market is expected to grow with its increasing usage in dental implants as it has high resemblance with the natural tooth and is more aesthetically appealing. Metal implants including stainless steel, pure titanium, and cobalt-chromium are used in the cosmetic and reconstructive surgery for over 35 years. However, growing concerns regarding its safety and efficacy may hamper the market growth. Biological materials are expected to grow at significant rate with a CAGR of about 10.9% owing to rising awareness of the benefits it provide to the consumer.

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Regional Insight:

North America dominated the market in 2016. Some of the key factors attributing to the market growth include sophisticated healthcare infrastructure, rising aesthetic awareness, increasing ageing population, and growing healthcare expenditure. Furthermore, favorable government programs drive the demand for such procedures in the region. The U.S government has initiated various awareness campaigns such as Breast Reconstructive Awareness Campaign, which is engaged in educating and empowering women undergoing breast cancer treatment.

Europe is the second largest market for cosmetic implants owing to rising ageing population that drives the demand for dental implant market. According to World Federation of Public Health Association only 41% of Europeans have all their natural teeth. Growing number of cosmetic surgeries, high reimbursement policies and rising government healthcare expenditure is boosting up the growth of the market.

Asia pacific region is expected to be the fastest growing segment with a lucrative CAGR over the forecast period. Factors such as high population, increasing dental caries, rising geriatric patients and increasing trend of medical tourism drives the growth of cosmetic implant market. Some of the countries in this region that are amongst few top countries with respect to number of cosmetic surgeries are India, South Korea, and Australia.

Competitive Insights:

Some of the key participants of cosmetic implants market include 3M Health Care; Allergan, Inc.; GC Aesthetics; Spectrum Design; Aesthetic and Reconstructive Technologies (AART) Inc.; Straumann AG Institut; Sientra Inc.; DENTSPLY International Inc.; Nobel Biocare Holding AG; Zimmer Holdings Inc.; Mentor Worldwide LLC., and Medical Implantech Associates Inc.

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/medical-devices

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