2 million cases of breast cancer were reported in the year 2018, a 14% increase from 2008, as per a World Health Organization estimate. This made it join ranks among the top 5 leading causes of cancer deaths in women. In terms of ratios, one in every four females are diagnosed with this cancer globally.
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This has led to a need to come up with solutions that are effective and convenient. Besides, much care is required due to mastectomies involved in some of the severe cases. Women have reported to have self-esteem being hit by such surgeries, creating a deep impact on body image.
As a result, breast construction surgeries have come to play a notable role, promising the global market a robust CAGR (Compound Annual Growth Rate) of 5% between 2019 and 2027. The resultant growth opportunities are lucrative enough to keep market players fixated on improving products and experience for women undergoing breast reconstruction market, worldwide. As per a Transparency Market Research, this will pull up the market worth by a considerable value.
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North America and Europe to Hold Dominant Global Breast Reconstruction Market Share
Considering the high level of adoption in technology, North America and Europe will hold a dominant share. Besides presence of some of the most prominent players in the global breast reconstruction market will lead to growth in the region. Additionally, as these players expand business operations, benefits will accrue in the region.
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Europe has countries will extremely high rates of breast cancer – such as Netherlands, Belgium and Luxembourg. As alcohol consumption increases, risk of pre-menopausal breast cancer incidence also sees an upward curve, contributing to growth in the global breast reconstruction market.
It is worth pointing out there, that Asia Pacific (APAC) region will hold the attention of players by generating valuable opportunities of growth, ready to be tapped into by market players. This is largely attributable to rising awareness of the reconstruction option after mastectomy. Additionally, there is a rise in product approval in countries such as China and Japan where an increasing number of women resorting to reconstruction are supporting the growth of market in the region.
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Market to be Consolidated as Few Players Hold a Major Share of Market
Prominent players in the global breast reconstruction market’s consolidated landscape include Allergan, Mentor Worldwide LLC (Johnson and Johnson), Sientra, Inc., GC Aesthetics, Establishment Labs S.A., POLYTECH Health and Aesthetics GmbH, RTI Surgical, Inc., Groupe Sebbin SAS, Integra Life Sciences, and Wanhe, among others. In order to grab a bigger piece of the growth pie over the forecast period, players will direct efforts at improving sales and development of better implants and customization options. Therefore, Research and Development (R&D) will hold a prominent place in the overall strategy.
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