North America Breast Reconstruction Market Size To Hit USD 428.55 Million By 2032
James Richter
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The North America breast reconstruction market size was estimated at USD 219.9 million in 2022 and is expected to surpass around USD 428.55 million by 2032 and poised to grow at a compound annual growth rate (CAGR) of 6.9% during the forecast period 2023 to 2032.
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Key Takeaways:
?This can be credited to the increase in number of breast cancer patients within this region. For instance, as per the Canadian Cancer Society 2019, one in eight females is expected to be diagnosed with breast cancer. Moreover, as per a similar source, breast cancer is the second most occurring cancer in Canada. Thus, the increasing number of breast cancer patients in Canada is predicted to boost the North America Breast Reconstruction market.
Moreover, the number of breast reconstruction surgery is also increasing in this region. For instance, as per the Archives of Plastic Surgery, post-mastectomy breast reconstruction surgery has increased from 19.4% in 2015 to 53.4% in 2018. Similarly, as per the Canadian Cancer Society, one in every five women in Canada goes under breast reconstruction post-mastectomy. Thus, a rise in the number of breast reconstruction surgery is anticipated to drive the North America breast reconstruction market.
Furthermore, the initiation of various awareness campaigns is leading to rising awareness among women. For instance, the Breast Reconstruction Awareness Campaign educates, engages & empowers females to take the right decision regarding breast reconstruction, post breast cancer diagnosis.
The North America breast reconstruction market witnessed a dip due to COVID-19. However, post-pandemic, the market is projected to have a significant growth rate. Elective surgeries such as breast augmentation, which were postponed during COVID-19, are expected to be held in the post-COVID-19 period. Moreover, to capture the market, many companies are entering into various strategies such as geographic expansion, product launches, and partnerships.
For instance, in April 2021, Sientra, Inc. and the Butterfly Network announced a strategic partnership to improve diagnostic surveillance of breast implant patients. This was expected to help the company to strengthen its safety profile, which was backed by the Platinum20 warranty program. Therefore, such instances are expected to drive the North America breast reconstruction market in the post-COVID-19 period.
Regional Insights
The U.S. dominated the market with the largest revenue share of 74.14% in 2022, owing to the high number of breast cancer patients in the U.S. For instance, according to Breastcancer.org, 1 in every 8 women in the U.S. will develop invasive breast cancer in their lifetime. Additionally, 30.0% of the newly diagnosed cancer in American women is estimated to be breast cancer. Thus, rising breast cancer cases are expected to increase the demand for mastectomy procedures, which can potentially boost the North American breast reconstruction market.
There has been a rise in breast reconstructive procedures conducted in the U.S. For instance, as per NCBI, breast reconstruction surgery in the U.S. increased by 29.0% from 2000 to 2018. Similarly, there have been increasing cases of breast reconstruction post-mastectomy. For instance, according to a study by the National Library of Medicine, 40.0% of women in the U.S. have breast reconstruction surgery post-mastectomy. Thus, due to the factors mentioned above, the U.S. is expected to dominate the North American breast reconstruction market.
Canada is expected to expand at the fastest CAGR of 7.1% over the forecast period, owing to the robust healthcare system in Canada and rising cases of breast cancer. For instance, as per estimates from the Canadian Cancer Society, in 2021, approximately 27,700 women will be diagnosed with breast cancer, representing around 25.0% of all new cancer cases in women. Furthermore, approximately 76 women are diagnosed with breast cancer daily in Canada. Thus, mastectomy procedures in the country are expected to increase, further advancing the regional breast construction market.
Some of the prominent players in the North America Breast Reconstruction Market include:
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2032. For this study, Nova one advisor, Inc. has segmented the North America Breast Reconstruction market.
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