The latest market report published by Credence Research, Inc. “Breast Prosthesis Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global breast prosthesis market projected to expand at a CAGR of 9.3% from 2018 to 2026.
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Growing prevalence of breast cancer is the major reason for the growth of mastectomy procedures, thereby boosting the growth of breast prosthesis market. According to World Cancer Research Fund, breast cancer is the most common form of cancer in women and second common overall. Approximately 2 million new cases of breast cancer has been diagnosed in 2018, with European countries accounting for the majority share. Number of women choosing post-mastectomy breast reconstruction and breast contouring is rising steadily. However, it’s a costly procedure and many women refrain from another surgery after mastectomy. Hence, external breast prosthesis is proving to be safe and economical surgical option for the women undergoing mastectomy. Availability of breast prosthesis in different material and shape further increases the market demand. On the basis of shape, the market is segmented into round, asymmetrical, swimming prosthesis, partial prosthesis, and others. The demand for round and swimming prosthesis is projected to increase during the forecast period. Manufacturers are offering light-weight prosthesis to cater women with weight sensitivity. Materials like silicone and cotton foam are effective in countries with warmer weather. Thus product innovation will drive the market for breast prosthesis during the forecast period.
In terms of geography, North America held the largest share in the global breast prosthesis market. Developed healthcare structure and high awareness of the people regarding breast prosthesis is crucial factor driving the market. U.S. emerged as the largest market in North America due to high prevalence of breast cancer and better diagnosis and treatment of the same. Growing number of cosmetic boutiques offering customized breast forms and efficient reimbursement structure is also assisting the market growth. Europe also held a significant share in the market driven by market growth in U.K., Germany, France, and Belgium. High prevalence of breast cancer in the region and favorable government schemes render marker growth. Asia Pacific is expected to grow at fastest growth rate owing to high target population. Moreover, low cost of breast prosthesis compared to breast reconstruction has led to growing=g demand of breast prosthesis. Local players providing breast prosthesis is however affecting the market growth in the region. The key players currently engaged in breast prosthesis market include Amoena Medizin-Orthopädie-Technik GmbH, ContourMed, Nicola Jane, Trulife Breastcare (Trulife Group), American Breast Care, Nearly Me and Anita Dr. Helbig GmbH.
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Key Market Movements:
- Growing prevalence of breast cancer globally and growing procedures of mastectomy
- Product innovation in breast prosthesis products to garner higher demand
- Rising people awareness regarding breast prosthesis and cosmetic procedures
- Cost-effective pricing and effective reimbursement scenario fuel the market growth
- Strong growth in emerging regions, especially in Asia Pacific will drive the market
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