According to our new research study on “Breast Reconstruction Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Technology, Type, Placement, and Procedure,” the market is expected to reach US$ 945.27 million by 2028 from US$ 593.61 million in 2020; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report highlights trends prevailing in the market and factors driving its growth. The market growth is mainly attributed to the factors such as the high prevalence of breast cancer, and new product launches and FDA approvals. However, low awareness regarding reimbursement policies hinders the market growth.
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Based on procedure, the breast reconstruction market is segmented into immediate procedures, delayed procedures, and revision procedures. In 2020, the immediate procedures segment held the largest share of the market, and the market for the same segment is expected to grow at the fastest rate during the coming years. Immediate breast reconstruction after mastectomy is an integral part of the complete management of breast cancer. Determining the risk of postmastectomy irradiation prior to definitive resection and reconstructive operations may reduce complications and improve aesthetic outcomes by guiding surgical decision making.
Allergan Plc; Mentor Worldwide LLC (Subsidiary of Johnson & Johnson); Sientra Inc.; Gc Aesthetics Plc; Polytech Health & Aesthetics Gmbh; Hansbiomed Co. Ltd.; Ideal Implant Incorporated; Guangzhou Wanhe Plastic Materials Co., Ltd.; Establishment Labs S.A.; and Groupe Sebbin SAS are among the leading companies operating in the breast reconstruction market.
The growth of the market is attributed to some key driving factors such as attributed to increasing product development and growing government support for breast reconstruction procedures. In addition, the growing incidence of breast cancer is also offering a favorable growth opportunity. For instance, according to a study published on NCBI in 2020, for implant-based reconstructions the average reimbursement was around 16.3% for Medicaid and around 67.2% for private insurance. Such strategic steps are also projected to drive the market growth.
The growth of the region is attributed to factors such as increasing incidence of breast cancer and favorable reimbursement policies. Moreover, presence of well-developed healthcare infrastructure and government support are some of the prominent factors propelling the market growth in North America. In addition, the Asia Pacific is expected account for the fastest growth in the breast reconstruction market. An increasing awareness about breast reconstruction therapies through government support coupled with increasing investments for product development, sales and distributions is anticipated to offer lucrative opportunities for the growth of Asia Pacific breast reconstruction market during the forecast period.
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