Report Overview
The market for breast implants in Latin America is anticipated to expand at a CAGR of 6% from 2023 to 2030.
Breast implants are medical devices that are inserted beneath the breast tissue or the chest muscle in order to augment or replace breast tissue following a mastectomy or other breast injury. The FDA has approved the use of implants to treat developmental flaws, increase women's breast size (augmentation), and reconstruct breast cancer surgery. Additionally, implants are advised to fix or enhance the outcome of the prior procedure. Both silicone gel-filled and saline (salt water solution)-filled breast implants have received FDA approval. The size, thickness, and shapes of the silicone exterior shells of both are different. The market for breast implants in Latin America is being driven by the region's rising breast cancer prevalence. There will be 66,280 new cases of breast cancer in women in Brazil in 2020. The expansion of the breast implant market is further boosted by the rise in breast augmentation treatments in Latin American nations.
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Market Dynamics
The market for breast implants is being driven by the rising incidence of breast cancer in Latin American nations.
The breast implant market is being driven by the rising incidence of breast cancer in Latin American nations. For instance, the WHO projects 22,024 additional instances of breast cancer in Argentina by 2020. In serious circumstances, mastectomy surgery—which necessitates the removal of the entire organ—is used to prevent malignancy. In addition, reconstructing this organ is thought to be a beneficial alternative for treating this illness. Reconstructing the excised organ's form is the goal of this technique. As a result, there is a rising need for breast implantation due to the increase in reconstruction cases. The majority of implantable medical devices are pricy, which discourages people from having implantation surgery. In Mexico, the average price of breast augmentation surgery in 2021 is $4,300.
Depending on the implant type, the surgeon's skill, and the reputation of the clinic, the starting price ranges from $2,500 to $8,000, while in Colombia, such an operation costs $5,000 USD. The expense of screening tests, implants, surgical procedures, replacement or recurrence surgeries, and doctors' salaries all contribute to the financial burden of implantation surgery. One of the main obstacles limiting the growth of the breast implant market in Latin America is the patients' inability to choose expensive cosmetic operations.
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Latin America Breast Implant Market Companies
Key players are AbbVie Inc., Johnson & Johnson Services, Inc., Sientra, Inc., G.C. Aesthetics, POLYTECH Health & Aesthetics GmbH, Establishment Labs S.A., and Sebbin, among others.
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