Cosmetic Implant Market Is Predicted To Grow Swiftly Due To Increasing Demand For Aesthetic Procedures Till 2020: Grand View Research, Inc.
Global Cosmetic
Implants Market is
expected to reach USD 9.29 billion by 2020, according to a new study by Grand
View Research, Inc. Increasing demand for aesthetic procedures coupled with
rising healthcare expenditure levels is expected to serve this market as a high
impact rendering driver during the forecast period.
Emergence of
technologically advanced products such as the two form-stable silicone gel
breast implants and hyaluronic acid facial filler is also expected to assist
market growth. According to estimates published by the American Society of
Plastic Surgeons in 2013, residents of the U.S. spent nearly USD 7.0 billion in
cosmetic surgical procedures. Most of these procedures (approximately 40.0%)
were undertaken by consumers belonging to the age group of 35 years to 50
years. Moreover, the fact that the country is rapidly aging and has a large
base of population pertaining to this age group is expected to present
manufacturers with lucrative future growth opportunities.
Rising prevalence of breast
cancer and growing number of awareness programs such as the Breast
Reconstructive Awareness Campaign are expected to encourage women to undergo
reconstructive surgeries. Lack of appropriate reimbursement policies supporting
cosmetic surgical procedures is expected to impede market growth over the next
six years.
Global cosmetic implants market, by raw material, 2012 –
2020 (USD Million)
Browse full research report on Cosmetic
Implant Market
Further key findings from the report suggest:
- Dental
implants were the highest revenue generating application area in 2013
owing to factors such as increasing consumption of junk food and aerated
beverages which lead to a rise in prevalence of tooth decay and other
dental disorders.
- North America
held over 40.0% of the cosmetic implants market in 2013. High economic
development and the presence of sophisticated healthcare infrastructure
are key factors attributing to its large market share. Presence of high
awareness and disposable income levels and changing lifestyle habits are
also expected to drive regional market growth over the next six years.
- Facial
Implants are expected grow at a lucrative rate during the forecast period
owing to increasing popularity of celebrities, who in turn motivate
younger generation to look aesthetically appealing. Furthermore, the fact
that these surgical procedures are precise and entail almost no side
effects is expected to boost usage rates during the forecast period.
- Asia Pacific
is expected to provide manufacturers with profitable growth opportunities
over the next six years. Rapidly developing healthcare infrastructure and
rising patient awareness levels are some key factors accounting for its
market attractiveness.
- Key players
analyzed in this study include 3M Health Care, Allergan, Inc., GC
Aesthetics, Aesthetic and Reconstructive Technologies Inc.
For more information: http://www.grandviewresearch.com
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