Breast reconstruction involves surgical procedures done to rebuild a breast shape after a mastectomy or lumpectomy due to breast cancer. Breast reconstructive implants and tissues help restore the appearance of a woman's breast and have psychological benefits by improving her self-esteem.
The global Breast Reconstruction Market is estimated to be valued at US$ 901.3 million in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased awareness initiatives by governments and NGOs regarding the availability of breast reconstruction procedures have helped boost their adoption rates significantly. For example, the U.S. Affordable Care Act requires insurance coverage of breast reconstruction procedures, either at the time of mastectomy or later. Such improved reimbursement policies have removed financial barriers for many women and encouraged them to opt for reconstruction. This, along with favorable demographic trends such as rising cancer incidence, is expected to continue fueling the breast reconstruction market growth over the forecast period.
Segment Analysis
The global breast reconstruction market is segmented on the basis of technology, type of surgery, end user and geography. By technology, the tissue expander segment dominates the market. Most reconstructive breast surgeries involve using tissue expanders to help recreate the breast mound and shape. These temporary implants are gradually filled with saline over several weeks under the skin to stretch new skin and tissue over the chest area. The growing adoption of this technique drives the segment's growth.
Key Takeaways:
The global Breast Reconstruction Market size is estimated to be valued at US$ 901.3 million in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.
Regional Analysis: North America is expected to be the fastest growing region in the global breast reconstruction market during the forecast period. This is attributed to the rising incidence of breast cancer and increasing medical reimbursement for reconstruction surgeries in the region. Also, the presence of major key players undertaking initiatives to raise awareness boosts market growth.
Key Players: Key players operating in the breast reconstruction market are Polytech Health & Aesthetics GmbH, Allergan, Mentor Worldwide LLC (Johnson & Johnson), Sientra Inc. These companies focus on strengthening their product portfolios through acquisitions and collaborations to sustain their market position. For instance, in 2022, Allergan Plc merged with AbbVie Inc. to leverage their combined capabilities in medical aesthetics and breast reconstruction.
Get more insights on this topic: https://www.newsstatix.com/breast-reconstruction-market-share-and-opportunity-analysis-2023-2030/
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