According to the deep-dive market assessment study conducted by Growth Plus Reports, the global cosmetic implants market was pegged at ~US$ 9.80 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of ~7.5% from 2022 to 2030.
An increase in teeth deformities & congenital face diseases, growing attention to aesthetics, new minimally invasive reconstruction procedures are the prime factors. Furthermore, due to the advantages of biological materials over synthetic ones in terms of health, biological aesthetic implants are a very lucrative market. Additionally, the need for aesthetic operations, polymer implant devices, and the introduction of cutting-edge solutions such as like hyaluronic acid facial fillers and two form-stable silicone gel breast implants are anticipated to drive the global cosmetic implants market during the forecast period.
The availability of well-defined regulatory requirements in developed economies, rising acceptability of bio-implants, and rising disposable incomes are a few major trends anticipated to drive market expansion. For instance, the NATRELLE INSPIRA SoftTouch breast implants manufactured by Allergan were given approval by the US Food and Drug Administration (FDA). This will probably accelerate the market growth for cosmetic implants.
The demand for implants is expected to increase as a result of rising patient awareness of aesthetic appearance and the influx of several government initiatives focused on patient awareness campaigns globally. For instance, it is anticipated that the Breast Reconstructive Awareness Campaign would increase utilisation rates by empowering, engaging, and educating women to make decisions about their well-being following a breast cancer diagnosis. Revenue growth is predicted to be supported by rising healthcare costs in industrialised countries and growing public awareness of disease remittance medicines.
The market for cosmetic implants is growing as a result of the US Food and Drug Administration's (FDA) increased approval of cosmetic implant products. For instance, in May 2020, Galderma, the largest independent dermatology company in the world, received FDA approval for Restylane Kysse, a brand-new hyaluronic acid (HA) filler designed exclusively to impart fullness to the lips. However, despite the fact that cosmetic implants are becoming more and more popular, the market's expansion throughout the projected period is anticipated to be threatened by a number of reasons. Some significant factors that are likely to restrain the market's growth throughout the forecast period include the high price of cosmetic implants and the potential for malfunction.
The use of aesthetic implants is rising in North America as target conditions become more prevalent. Furthermore, rising healthcare costs in North America are a major factor in the market for cosmetic implants. The market's dominant position is attributable to factors including the increased use of cosmetic implants to improve aesthetic appearance, the growing geriatric population, and an increase in the frequency of trauma and vehicle accidents. The market for cosmetic implants is expanding in the North American region because to a variety of variables, including a change in lifestyle, high economic development, and a greater emphasis on aesthetic attractiveness. The global market for cosmetic implants is expected to benefit from technological advancements like 3D printed facial implants. A few of the major market participants in the aesthetic implants space are concentrating on offering great efficiency and minimal stress to implanted organs.
Asia Pacific is expected to experience the fastest growth. According to the ministry of health and family welfare, over 60% of Indians have dental caries, and approximately 85% of them have periodontal disease. India is also known as the oral cancer capital of the world. Moreover, growing geriatric population base in Asian countries with large untapped opportunities, such as Japan and China, is expected to drive market growth during the forecast period. Consequently, there is an increase in demand for various surgical and restorative therapies. Additionally, rising self-care spending and high awareness of the range of health care options available are predicted to fuel market expansion.
The global cosmetic implant market is moderately competitive and has both international and regional companies. The development of technology has caused small and mid-sized businesses to concentrate on market penetration in order to gain market share. Some of the prominent players in the global cosmetic implants market include Aesthetic and Reconstructive Technologies (AART) Inc., Johnson & Johnson Private Limited, 3M Health Care, DENTSPLY International Inc., Laboratories Arion, Allergan, Inc., GC Aesthetics, Implantech Associates Inc., Nobel Biocare Holding AG, Mentor Worldwide LLC, Institut Straumann AG, Sientra Inc., Zimmer Holdings Inc. and Spectrum Designs Medical. These companies prioritise developing new products, mergers and acquisitions, and regional expansions. For instance, in October 2019, Acelity, Inc. was fully acquired by 3M with the intention of providing more treatment choices to the millions of patients suffering from the targeted diseases.