Albany, NY, Nov. 21, 2014 (GLOBE NEWSWIRE) -- According to a new market report published by U.S. based market research company, Transparency Market Research "Cosmetic Implants Market - Global Industry Analysis, Size, Share, Growth, Trends & Forecast 2014 - 2020" the global cosmetic implants market was valued at USD 2.1 billion in 2013 and is estimated to reach a market worth of USD 3.2 billion in 2020 growing at a CAGR of 5.7% from 2014 to 2020.
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Increasing number of cosmetic surgeries owing to rising awareness and introduction of new and technologically advanced implant devices are considered as the important drivers of this market. Cosmetic implant devices are used for replacement of missing parts and modification of aesthetic appearance. Increasing awareness about aesthetic appearance and benefits of implants are projected to boost the market growth. Moreover, increasing number of cosmetic surgeons and growing medical infrastructure are expected to propel the market growth during the forecast period from 2014 to 2020.
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The global cosmetic implants market was segmented on the basis of types of sources and applications. Polymer implants was the largest source of cosmetic implant devices and held majority share in 2013, owing to abundant presence of raw materials and extensive use in the manufacturing of breast, facial and body contouring implants. Metal implants segment is likely to witness the highest growth rate. Steadily growing number of cosmetic dentistry practices and high cost of implant devices likely to boost the market growth. Similarly, breast implants was considered as the largest application segment of cosmetic implants market in 2013. This dominance was majorly due to extensive number of breast implant practices owing to rise in awareness is likely to accentuate the market of breast implants. It is anticipated that this application segment would retain its dominance by the end of 2020. Moreover, this segment is projected to grow at a highest CAGR of 6.6% during the forecast period from 2014 to 2020.
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Europe was the largest cosmetic implant market globally in 2013, due to extensive number of cosmetic dentistry practices coupled with high cost of devices and procedures and strong awareness about aesthetic appearance and benefits of implant devices and surgeries. However, Rest of the World (RoW) is estimated to witness strong growth and emerge as the most promising and fastest growing market during the forecast period from 2014 to 2020. The growth is expected to be driven by factors such as rapidly growing medical tourism, low cost of implant devices compared to developed countries such as the U.S. and the U.K. and increasing awareness towards physical and aesthetic appearance.
The market is consolidated and is dominated by selective players operating on a global level, such as, Straumann, Nobel BioCare, Allergan, Inc., Mentor Worldwide LLC and Sientra, Inc. Straumann was the market leader in cosmetic dentistry market with around 18.8% of the total share of cosmetic dental implants market. This was followed by Nobel BioCare and DENTSPLY International, Inc. In 2013, Allergan, Inc. dominated the global cosmetic implants market (excluding cosmetic dentistry segment). This was followed by Mentor Worldwide LLC and Sientra, Inc. Geographical expansion and development of new and safe implant devices are the key strategies pursued by different market players to accentuate their market shares.
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The global cosmetic implant market is segmented as follows:
Global Cosmetic Implants Market: By Types of Sources
Global Cosmetic Implants Market : By Applications
- Breast Implants
- Dental Implants
- Facial Implants
- Others (Buttock, Penile and Calf Implants)
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