PORTLAND, Oregon and PUNE, India, November 16, 2016 /PRNewswire/ --
According to a new report by Allied Market Research, titled, "Cosmetic Implants Market - Global Opportunity Analysis and Industry Forecast, 2014 - 2022," the global market revenue of cosmetic implants was valued at $ 6,356 million in 2015 and is projected to reach $10,708 million by 2022, growing at a CAGR of 7.7% from 2016 to 2022. The dental implants segment is expected to garner major part of revenue followed by facial implants.
Summary of the cosmetic implants market report can be accessed on the website at https://www.alliedmarketresearch.com/cosmetic-implants-market
Major factors that drive the market growth include growth in technological advancements (such as advent of gummy bear implants), rise in incidence of congenital defects, increase in adoption of cosmetic implants to improve the aesthetic looks, rise in the number of cosmetic surgeons, emergence of minimally invasive reconstruction surgeries, and rise in geriatric population. The rise in the number of application areas of cosmetic implants namely Penile implants, Calf implants, Pectoral implants, and eyelid implants are anticipated to further drive the demand for cosmetic implants. However, unfavorable reimbursement policies, high cost of the cosmetic procedures, such as breast implantation, and malfunctioning hazards restrict the market growth.
Cosmetic implants are available in various shapes and sizes to suit the body contour of patients and used in dentistry, breast augmentation surgeries and face reconstructive surgeries. In addition, cosmetic implants are also used to enhance the shape of buttocks, calf, and pectoral regions. The dental implants segment accounted for a major market share in 2015, owing to the wide adoption in the tooth replacement procedures and their ability to help in the preservation of the natural tooth structure. Facial implants (chin implants, jaw implants, cheek implants, nasal implants, eyelid implants, and injectable implants) was the second dominating segment in cosmetic implant market with more than one-fourth share in 2015.
"Technological advancements such as development of 3D printed facial implants, hyaluronic acid facial fillers, and injectable implant treatment procedures are projected to show positive impact on cosmetic implants market growth during analysis period. These are fast, painless, and have a short recovery period," says Deepa Tatkare, Senior Research Analyst, Healthcare at Allied Market Research.
Geographically, North America accounted for major market share in 2015, and is expected to maintain its lead throughout the forecast period. This growth is attributed to the increased adoption of cosmetic implants to improve aesthetic looks, rise in geriatric population (cosmetic implants reverse the process of ageing), and increase in prevalence of road accidents and trauma cases. However, regulatory framework concerns and high cost of treatment in North American countries are expected to hamper the market growth. Asia-Pacific is projected to grow at the fastest rate owing to high population, high disposable incomes, and rise in awareness. Asia-Pacific is a lucrative market for the cosmetic implants due to Medical tourism and technological advancements. Technological advancements (such as injectable fillers and gummy bear implants) to develop cost-effective devices in these nations offer a lucrative opportunity for the market growth. In Asia-Pacific, India, China, and Australia are projected to be the most progressive countries for cosmetic surgical procedures and this trend is expected to continue in the near future. This is due to the fact that cosmetic surgery has evolved beyond the traditional concept of being a risky or impractical procedure, which was demanded only by women who were conscious about their appearance.
Key findings of the Cosmetic Implants Market study:
- In 2015, dental implants was the leading segment, accounting for around half of the overall market revenue, and is projected to grow at a CAGR of 9.2% during the forecast period.
- Asia-Pacific is expected to grow at the fastest rate with a CAGR of 9.6%.
- China and Japan are the major shareholders, jointly accounting for more than half of the market share in Asia-Pacific in 2015.
- The buttocks implants market is expected to grow at a CAGR of 10.6%.
- The pectoral implants market is projected to reach $127 million by 2022.
The key players in the cosmetic implants market focus on expanding their business operations in the emerging countries, with new product launches as a preferred strategy. The key players profiled in this report include Allergan plc, Danaher Corporation, Dentsply Sirona Inc., GC Aesthetics plc, Institut Straumann AG, Johnson & Johnson, 3M Company, Polytech Health & Aesthetics GmbH, Sientra Inc., and Zimmer Biomet Holdings, Inc.
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SOURCE Allied Market Research