The Gel Implants Market is projected to grow at a 3.1% CAGR from 2021 to 2031, driven by rising demand in cosmetology and breast cancer awareness.
According to latest research by FMI, Gel Implants Market will experience substantial growth with CAGR 3.1% during the forecast period 2021-2031. Increased demand for gel implants is expected to encounter due to the rising demand of cosmetology. Increasing awareness of cosmetology procedures is expected to present lucrative opportunities to the key players of this demand outlook in the near future.
What is Driving the Demand of the Gel Implants Market?
The main factors driving the growth of the gel implants market include the increased focus on physical appearance and the increasing availability of inexpensive silicone cohesive breast implants. In addition, the increasing prevalence of breast cancer and the availability of a wide range of breast implants are driving the growth of the market.
For instance, according to the America Society of Plastic Surgeons, it was estimated that approximately 1,93,073 breast augmentation surgeries were performed in 2020.
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Silicone gel implants were highly preferred by all the women seeking breast augmentation surgeries since they have higher quality in terms of appearance and firmness as compared to saline ones. Thus, the increased preference of the target population is expected to increase the demand during the forecast period.
Breast augmentations are becoming increasingly popular in emerging markets. The main reasons for this are increased economic prosperity and disposable income amongst the working population, increased influence of the cosmetic and fashion industry, increased people’s awareness of the latest products and processes, and low business start-up costs.
The growing prevalence of breast cancer is another key driver that is anticipated to propel the growth of the gel implants market. According to WHO, in the year 2020, the number of diagnosed cases of breast cancer were a staggering 2.3 million, and around 685,000 deaths occurred due to breast cancer, globally.
The increasing prevalence of breast cancer has led to an increase in the number of women undergoing breast mastectomy, that is, breast augmentation. Surgical removal of one or both breasts, leading to more women undergoing breast augmentation. According to the American Society of Plastic Surgeons, approximately 36,367 women underwent breast augmentation surgeries as a preventative measure against breast cancer. Increased awareness amongst women about preventative procedures against cancer is another key driver of the gel implants market.
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Prayasta: Using 3D Technology for Breast Augmentation
Bengaluru based start-up ‘Prayasta’ is reaching new heights in the breast augmentation industry. The company was established in 2017 and is developing a 3D printing technology to manufacture personalized breast implants for the target audience.
They have developed an in-house printer Silimax P250, from scratch to cater to the women who have to undergo mastectomy either due to suffering from breast cancer or as a preventative measure. The company wants to ensure the “one-to-one personalization” for all the women since every women’s body is different in structure, size, and shape so that they can provide the implant which is closest to its natural counterpart.
U.S. and Canada Gel Implants Demand Outlook
U.S. and Canada regions hold a large chunk of the gel implants market. The reason for such a high market share is due to the increased awareness of breast cancer, which is leading to many women opting for preventive mastectomy procedures.
Increased popularity and adoption of gel implants due to the higher efficacy of cohesive gel implants is expected to fuel the growth of this demand in the forecast period in this region.
For instance, on October 20, 2021, Sientra, Inc. announced that they have collaborated with a nonprofit organization ‘Mission Plasticos’ dedicating their venture to provide reconstructive surgical care to medically underserved and needy communities around the world with their program “ Reshaping Lives: Full Circle”.
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Europe Gel Implants Demand Outlook
Europe holds a moderately high share in the global gel implants market. Factors such as the rising occurrence of breast cancer in Europe and the rise in breast cosmetic operations are likely to boost the market’s growth.
On the other hand, due to the disadvantages of breast implants, such as scarring or rippling, the market is anticipated to suffer a negative impact. In Europe, breast augmentation is the most popular cosmetic operation.
For instance, in April 2019, The German Federal Cabinet announced the initiation of a digital implant register for all the German patients to ensure the safety of all the patients undergoing implant surgeries.
Who are the Key Manufacturers of Gel Implants?
The key manufacturers of gel implants are
The article discusses the growth of the Gel Implants Market, projected to expand at a 3.1% CAGR from 2021 to 2031.
Increased focus on physical appearance, availability of silicone implants, and rising breast cancer cases are key drivers.
3D printing technology, like that developed by Prayasta, is enhancing personalization in breast implants.
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