The Global Breast Reconstruction Market Growth Accelerated By Improved Reimbursement Policies
Breast reconstruction involves surgical procedures done to rebuild a breast shape after a mastectomy or lumpectomy due to breast cancer. Breast reconstructive implants and tissues help restore the appearance of a woman's breast and have psychological benefits by improving her self-esteem.
The
global Breast Reconstruction Market is estimated to be valued at US$ 901.3
million in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted
in a new report published by Coherent Market Insights.
Market key trends:
Increased awareness initiatives by governments and NGOs regarding the
availability of breast reconstruction procedures have helped boost their
adoption rates significantly. For example, the U.S. Affordable Care Act
requires insurance coverage of breast reconstruction procedures, either at the
time of mastectomy or later. Such improved reimbursement policies have removed
financial barriers for many women and encouraged them to opt for reconstruction.
This, along with favorable demographic trends such as rising cancer incidence,
is expected to continue fueling the breast reconstruction market growth over
the forecast period.
Segment Analysis
The global breast reconstruction market is segmented on the basis of
technology, type of surgery, end user and geography. By technology, the tissue
expander segment dominates the market. Most reconstructive breast surgeries
involve using tissue expanders to help recreate the breast mound and shape. These
temporary implants are gradually filled with saline over several weeks under
the skin to stretch new skin and tissue over the chest area. The growing
adoption of this technique drives the segment's growth.
Key Takeaways:
The global
Breast Reconstruction Market size is estimated to be valued at US$
901.3 million in 2023 and is expected to exhibit a CAGR of 7.2% over the
forecast period 2023 to 2030.
Regional Analysis: North America is expected to be the fastest growing region
in the global breast reconstruction market during the forecast period. This is
attributed to the rising incidence of breast cancer and increasing medical
reimbursement for reconstruction surgeries in the region. Also, the presence of
major key players undertaking initiatives to raise awareness boosts market
growth.
Key Players: Key players operating in the breast reconstruction market are
Polytech Health & Aesthetics GmbH, Allergan, Mentor Worldwide LLC (Johnson
& Johnson), Sientra Inc. These companies focus on strengthening their
product portfolios through acquisitions and collaborations to sustain their
market position. For instance, in 2022, Allergan Plc merged with AbbVie Inc. to
leverage their combined capabilities in medical aesthetics and breast
reconstruction.
Get
more insights on this topic: https://www.newsstatix.com/breast-reconstruction-market-share-and-opportunity-analysis-2023-2030/
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