ALBANY, New York, August 1, 2016 /PRNewswire/ --
Institut Straumann AG, Nobel Biocare Holding, Inc., and DENTSPLY
A significant cut-down in the price of devices and surgeries can help the growth rate of the market to increase by many folds. Additionally, technological advancements in the devices used can also bolster the growth of the global cosmetic implants market. "The introduction of new products and devices will fuel the growth of the cosmetic implants market," says the author of the study.
Expensive Surgical Procedures and Implant Malfunctions Hold Back Market Growth
The high cost of surgical devices and procedures impede the growth of the cosmetics implant market. Implant devices comprise approximately 60% of the surgical cost depending upon the type, size, and the manufacturer. At present, these devices do not cater to low-income groups.
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Another problem associated with surgical implants is that there is no guaranteed safety. Implant devices such as buttock implants, dental implants, penile implants, breast implants, and facial implants (especially cheek and jaw implants) come with a risk of malfunction. Any malfunction in implant leads to asymmetry, pain, implant rupture, seroma, and implant visibility and extrusion. To put this in perspective, during the post-approval safety studies performed by the U.S. FDA in 2009, Allergan, Inc. reviewed 2,674 breast implant devices, out of which, approximately 900 (33.8%) were reported to have openings in the implant shell. Implant rupture is thus considered one of the restraining factors to the growth of the breast implant market.
Technological Breakthroughs in Surgeries and Devices can Help Global Cosmetic Implant Market Register High Growth
Periodic upgradation of implant devices used in surgeries can lower the chances of malfunction, thus propelling the growth of cosmetic implant market globally. Moreover, technological advancements will open new avenues for the market, as a result, it will cut down the cost of the implant devices. These measures are likely to boost the growth of the global cosmetic implant market.
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Polymer Implants to Thrive Due To Raw Material Abundance
"Despite the high-cost devices and surgeries, growth is likely to occur due to rapidly growing awareness about cosmetic surgeries and steadily increasing the number of cosmetic surgeons," says TMR analyst. The market which was at US$ 2.098 bn in 2013 will register an impressive growth and is expected to reach US$ 3.162 bn in 2020.
By source type, the market has been segmented into polymer implant, ceramics implant, metal implants, and biological implants. The polymer implant is the leading segment due to abundant availability of raw materials and a wide range of applications in surgeries. It is expected to account for 46.9% of the total market by the end of the year 2020. A large part of polymer implants is used in breast implant surgeries, which is the leading and also the fastest growing segment by the application. By revenue, breast implants accounted for US$ 1.113 bn in 2015 and is expected to reach US$ 1.506 bn in 2020.
In terms of geography, Europe, which was leading in 2015 with US$ 809.7 mn, is anticipated to retain its leadership by the end of the year 2020 with US$ 1099.4 mn. However, APAC is expected to register the highest growth rate during the forecast period.
The information presented in this review is based on the findings of a report by Transparency Market Research titled "Cosmetic Implants Market - Global Industry Analysis, Size, Share, Growth, Trends & Forecast, 2014 - 2020."
Global Cosmetic Implants Market is segmented as follows:
Cosmetic Implants Market: By Types of Sources
Cosmetic Implants Market: By Applications
Cosmetic Implants Market: By Geography
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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